Thermoware, plastic moulded furniture major Cello launches designer air coolers

Cello, the four-decade-old group which is a household name for its thermoware, fine quality pens and plastic moulded furniture, has ventured into the manufacturing of air coolers by leveraging its long background in high quality plastics and polymers.
The Cello air coolers are manufactured by Wim Plast Ltd., a subsidiary of Cello group.
The coolers have engineering quality polymer bodies, Turbo Cool power cooling and international design aesthetics, a press release from the company said.
"Cello air coolers have improved the traditional science of evaporative cooling into a cutting edge technology. Engineering quality polymer build and lightweight, powerful blowers and fans with improved cooling pads give you Turbo Cooling that no fan can offer, at low costs which no air conditioner can match. This new range of air coolers is designed by Italian and leading Indian designers to bring world-class products to the Indian consumers,” said Madhusudan Jangid, Chief Financial Officer, Wim Plast Ltd.
Cello's range includes all types of consumer coolers such as desert coolers, tower coolers, window coolers and personal coolers. The company has also created a new segment, mini desert coolers, the release said.
In all, the company has launched 23 models of designer coolers in these segments, with water storage capacity ranging from 22 litres to 60 litres. The company has appointed distributors across India and after-sales service centers with service engineers and technicians on the company's payroll to ensure reliable and timely service delivery. It has also set up a toll-free number for Customer Care.
The company has got certification of CE & Saso for these products and other certifications are in the process, the release said.
"Our coolers come with Turbo cooling system which combines powerful air circulation system with compact cooling pads to cool larger area in lesser time and also has other feature like digital model and convenient mobility," said Mr. Jangid.
"The initial response has been very encouraging. Both trade and consumers have appreciated the product and, as summer nears, the secondary sales have started and the company has also started receiving repeat orders from the network," he said.
Cello is planning to build one more dedicated factory for coolers in the next financial year and is looking at possibilities of backward integration, the release added.

IDFC Bank partners with Uphold for instant cross-border remittances

IDFC Bank has announced a partnership with Uphold, a cloud-based financial platform, for instant, easy and affordable inward remittances to India. 
The partnership is subject to approval from the Reserve Bank of India (RBI), a press release from the bank said.
The release said the partnership would enable Uphold users across geographies, initially starting with the United States and the United Kingdom, to send money or make payments instantly to anyone in India, redeemable directly through any Indian bank. 
“IDFC Bank intends to simplify any form of transaction through digital innovation,” said Dr. Rajiv Lall, Founder MD & CEO, IDFC Bank. “We believe the benefits of today’s digital money ecosystem should be available to just about everyone, across geographies and customer segments. Our partnership with Uphold will help us achieve that. It enables customers of IDFC Bank, as well as non-customers, to receive funds in a secure and simple manner.”
“Receiving more than $72 billion in 2015, India is the largest remittance country. We are addressing common challenges that stem from a mobile-first population dispersed around the countryside that have had to rely on high-fee brick and mortar wire services far too long,” said Anthony Watson, President and CEO at Uphold. “Now, Uphold creates a safe, easy and more affordable way to send money to anyone in India, from any device, knowing it is redeemable through any bank.”
According to the release, through partnership with IDFC Bank, Uphold members can create a secure one-time use code to email or text to anyone in India. The receipt can then instantly redeem the full value by entering the secure code through IDFC Bank’s website and the funds will be transferable into any bank account in India.
Having started operations on October 1, 2015, IDFC Bank now has 48 branches across the country. The bank is focused on delivering a 24/7 service proposition, that is embedded in technology. Simultaneously, it is building a contiguous network in rural India and simplifying digital for customers in these locations. Its commercial and wholesale banking vertical provides services to the entire spectrum of the business world – from MNCs, large and medium corporates to SMEs, MSMEs and the government.
Uphold’s securecode program with IDFC Bank will be available across India, pending regulatory approvals. Any Uphold member can instantly convert any currency, in any amount of value into Indian Rupee for free.
IDFC Bank is a subsidiary of India’s leading integrated infrastructure finance company.

L&T Construction bags orders valued at Rs. 2125 crore

Infrastructure major Larsen & Toubro (L&T) today said its construction arm had won orders worth Rs. 2125 crore across its various businesses.
A press release from the company said these included a new engineering, procurement and construction order worth Rs. 821 crore bagged by its Transportation Infrastructure Business from the National Highways Authority of India (NHAI) for four-laning of the Addahole (Gundya)-Bantwal cross of national highway (NH)-75 (Old NH no. 48) in Karnataka.
The project is to be completed in 30 months and involves cumulative construction of 63 KMs of four-lane dual carriageway with concrete pavement in addition to the construction of 14.5 km of service roads, two flyovers, two major bridges, 14 minor bridges, nine underpasses and one toll plaza.
The release said the company's Smart World & Communication Business had secured orders worth Rs. 761 crore, which involve design and implementation of safe cities using integrated security systems and intelligent & integrated traffic management systems.
Additional orders worth Rs. 543 crore have also been received from various ongoing jobs of Power Transmission & Distribution and Buildings & Factories Businesses, the release added.

RBI reduces key policy repo rate by 25 bps to 6.5%

The Reserve Bank of India on Tuesday, on the basis of its assessment of the current and evolving macroeconomic situation, decided to reduce the key policy repo rate under the liquidity adjustment facility by 25 basis points from 6.75 per cent to 6.5 per cent.

RBI logo
RBI logo
The Reserve Bank of India (RBI) today, on the basis of its assessment of the current and evolving macroeconomic situation, decided to reduce the key policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points (bps) from 6.75 per cent to 6.5 per cent.
In his First Bi-monthly Monetary Policy Statement, 2016-17, RBI Governor Raghuram G. Rajan said the central bank had also decided to reduce the minimum daily maintenance of the cash reserve ratio (CRR) from 95 per cent of the requirement to 90 per cent with effect from the fortnight beginning April 16, 2016, while keeping the CRR unchanged at 4.0 per cent of net demand and time liabilities (NDTL).
He said the RBI would continue to provide liquidity as required but progressively lower the average ex ante liquidity deficit in the system from one per cent of NDTL to a position closer to neutrality.
It had also decided to narrow the policy rate corridor from +/-100 basis points (bps) to +/- 50 bps by reducing the MSF rate by 75 basis points and increasing the reverse repo rate by 25 basis points, with a view to ensuring finer alignment of the weighted average call rate (WACR) with the repo rate.
Consequently, the reverse repo rate under the LAF stood adjusted to 6.0 per cent, and the marginal standing facility (MSF) rate to 7.0 per cent. 
The Bank Rate, which is aligned to the MSF rate, also stood adjusted to 7.0 per cent, Dr. Rajan said.
The RBI said inflation had evolved along the projected trajectory and the target set for January 2016 was met with a marginal undershoot. Going forward, CPI inflation is expected to decelerate modestly and remain around 5 per cent during 2016-17 with small inter-quarter variations. 
"There are uncertainties surrounding this inflation path emanating from recent unseasonal rains, the likely spatial and temporal distribution of monsoon, the low reservoir levels by historical averages, and the strength of the recent upturn in commodity prices, especially oil. The persistence of inflation in certain services warrants watching, while the implementation of the 7th Central Pay Commission awards will impart an upside to the baseline through direct and indirect effects.
"On the other hand, there will be some offsetting downside pressures stemming from tepid demand in the global economy, Government’s effective supply side measures keeping a check on food prices, and the Central Government’s commendable commitment to fiscal consolidation," it said.
Dr. Rajan said the uneven recovery in growth in 2015-16 was likely to strengthen gradually into 2016-17, assuming a normal monsoon, the likely boost to consumption demand from the implementation of the 7th Pay Commission recommendations and OROP, and continuing monetary policy accommodation. 
"After two consecutive years of deficient monsoon, a normal monsoon would work as a favourable supply shock, strengthening rural demand and augmenting the supply of farm products that also influence inflation. On the other hand, the fading impact of lower input costs on value addition in manufacturing, persisting corporate sector stress and risk aversion in the banking system, and the weaker global growth and trade outlook could impart a downside to growth outcomes going forward. The GVA growth projection for 2016-17 is accordingly retained at 7.6 per cent, with risks evenly balanced around it," he said.
The RBI recalled that, in its bi-monthly monetary policy statement of February 2, 2016, it had indicated that it awaited further data on inflation as well as on structural reforms in the Union Budget that boost growth while controlling spending. 
It said forecasts based on recent data indicated that inflation would trend towards the 5 per cent target in March 2017 under reasonable assumptions. The changes to the RBI Act to create a Monetary Policy Committee will further strengthen monetary policy credibility, it said.
It also noted that, in the Union Budget for 2016-17, the Government had adhered to the path of fiscal consolidation and this would support the disinflation process going forward. 
"The Government has also set out a comprehensive strategy for reinvigorating demand in the rural economy, enhancing the economy’s social and physical infrastructure, and improving the environment for doing business and deepening institutional reform. The implementation of these measures should improve supply conditions and allow efficiency and productivity gains to accrue.
"Given weak private investment in the face of low capacity utilisation, a reduction in the policy rate by 25 bps will help strengthen activity and aid the Government’s initiatives," it said.
"Perhaps more important at this juncture is to ensure that current and past policy rate cuts transmit to lending rates. The reduction in small savings rates announced in March 2016, the substantial refinements in the liquidity management framework announced in this policy review and the introduction of the marginal cost of funds based lending rate (MCLR) should improve transmission and magnify the effects of the current policy rate cut. The stance of monetary policy will remain accommodative. The Reserve Bank will continue to watch macroeconomic and financial developments in the months ahead with a view to responding with further policy action as space opens up," the statement added.

SpiceJet adds new flight between Udaipur, Mumbai from April 16

Low-cost carrier SpiceJet today said it would launch a new flight on the Udaipur-Mumbai route from April 16.
A press release from the airline said that, to cater to the peak summer rush, from March to October, SpiceJet had upgraded equpment and added three new flights and six new frequencies, offering more seats and connecting key metros and cities.
Ms Shilpa Bhatia, Sr. VP, Commercial, SpiceJet, said, “Our new summer schedule is an extension of our existing strategy that will cater to the robust market demand for the coming holiday season."
With the introduction of the summer schedule, the airline will increase its operation to 306 daily flights from 240 flights operated in last summer schedule, the release added.

India to ratify COP 21 Global Climate Agreement on April 22: Javadekar

Reasserting India’s commitment to carbon emission reduction and sustainable development, Union Environment, Forests & Climate Change Minister Prakash Javadekar today said India, along with 100 other nations, would ratify the COP 21 Global Climate Agreement on April 22.
COP 21 would be ratified at a high-level signing ceremony to be convened at the UN Headquarters in New York. 
The agreement, negotiated in Paris in December 2015, sets out a global action plan to put the world on track by limiting global warming below 2 degrees Celsius. 
Speaking at a Symposium “COP 21 – Building Synergies, Shaping Actions” organized in the University of Mumbai, Mr Javadekar said “all countries have decided to walk the green path as per their common but differentiated responsibilities”. He described the Paris agreement as a victory of multilateralism and the one which helped correct image perception of India. 
“India was always perceived to be a naysayer and negative in its approach and took a corner seat in most of the international conferences. But in Paris, Prime Minister Narendra Modi introduced the concept of climate justice driving home the message of sustainable development," he
Mr. Javadekar said climate change was a reality with 1 degree rise in temperature caused by 150 years of uncontrolled carbon emission by the developed world. He said while 30% of cumulative contribution was that of the United States, 50% by Europe, Canada and other developed world and 10% by China, India was responsible for only 3% carbon emission.
“Though India is not part of the problem, it wants to be part of the solution. Our commitment is reflected in every programme being pursued by the Government,” he added. 
He said India had taken pro-active measures to discourage use of fossil fuels in a bid to reduce carbon footprint by levying Rs 400 per tonne green cess on coal. “If the developed world followed India’s example and levied higher taxes on coal, billions of dollars would accrue to pursue clean energy programmes,” he added. 
Mr Javadekar said the proposed Compensatory Afforestation Funds Bill 2015, would unlock Rs 40,000 crores of funds for the ‘Green India’ initiative. The Bill, which was referred to a Parliamentary Standing Committee, is likely to be passed in the second half of the budget session. Under CAF, funds would be made available to states to take up afforestation programmes, and to increase density of existing forests to substantially boost tree cover in the country. 
The Minister also listed out plans to control vehicular pollution by moving to Bharat VI emission norms, policies on waste management, Swachch Bharat initiative, Ganga rejuvenation, and so on as other measures aimed at sustainable development and containing climate change. 
Union Minister of State for Coal, Power, New & Renewable Energy, Piyush Goyal said his portfolios put him in an awkward situation. “I am a polluter as well as a pollution container,” he said. 
Mr. Goyal said India had launched the world’s largest renewable energy programme by scaling up the target for solar energy.
“The solar energy mission envisaged 20,000 Mw of solar electricity generation by 2022. But this target has been pushed ahead by the Prime Minister to 1,00,000 Mw (1Gw),” he said.
His Ministry has already bid out 19,000 MW of solar energy projects and the installed capacity of 20,000 MW would be achieved as early as 2017. He, however, cautioned that all renewable energy programmes will be sustainable only if they become economically viable. 
He said coal, available in abundance in India, had its own place in ensuring cheaper energy. “While one is aware of pollution caused by the thermal power plants, their importance cannot be overlooked. Therefore, our thrust is on adopting clean coal technologies,” he added. 
Mr Goyal lamented lack of commitment of the developed world in fulfilling their obligations. He however asserted that “India’s green energy programmes will be carried out whether we receive support of the western world or not”. 
Former Atomic Energy Commission Chairman Anil Kakodkar, Mumbai University Vice-Chancellor Sanjay Deshmukh and TERI Director General Ajay Mathur were also present. 

I&B Ministry intensifying focus on ease of doing business: Sunil Arora

Information & Broadcasting (I&B) Secretary Sunil Arora yesterday said I&B Ministry remained committed to promoting ease of doing business in the media and entertainment sector.
“One of our primary objectives is to bring down the number of visitors to Shastri Bhavan to a trickle, move towards less regulation and facilitate India to become the hub of media and entertainment industry,” he said while participating in a dialogue with Mr. Uday Shankar, CEO Star India and veteran film maker Ramesh Sippy at FICCI Frames 2016.
Mr Arora said clearance for new TV channels had been expedited over the past six months under a liberalized regime. The Ministry of Home Affairs has agreed to most of the suggestions made by the  I&B Ministry about liberalizing several conditions.
Mr Arora said the government and ministry was totally committed to digitization programme, but expressed concern over less than 10% share of Indian made set top boxes. “We want the industry to look at this opportunity under the Make in India initiative and produce more STBs in India under the Electronics Manufacturing scheme,” he added.
The Ministry intended to play the role of a facilitator for the media and entertainment industry to flourish in the country, he added.
Mr Arora said a decision had been taken to set up the National Centre of Excellence in Animation, Gaming and Visual Effects in Mumbai.  Maharashtra Government would provide a 25 acre plot near Film City in Goregaon for the institute.
The Government has approved the Rs 598 crore National Film Heritage Mission to preserve and promote India’s rich film and cultural heritage, he added.
A National Museum of Indian Cinema is coming up in Films Division Complex on Pedder Road, Mumbai with several interactive exhibits. “Prime Minister has taken a keen interest in this museum which is being curated by the National Council of Science Museums, Kolkata,” he said. 
Focusing on ease of doing business, Mr Arora said a Film Facilitation Office has opened in the National Film Development Corporation (NFDC) to function as a single window service for film related clearances.  An award has been instituted as part of the National Film Awards, to honour the states that are most film friendly.  In 2016, Gujarat was adjudged the most film friendly state, followed by UP and Kerala.
Participating in the discussion, Mr. Shankar, who is also the Chairman of the FICCI Entertainment Panel, expressed concerns over the viability of stand alone news channels. Entry of fringe elements in the news broadcasting field for ‘ancillary facilities’ was affecting credibility, he added.  Mr Sippy expressed concern over low theatre density in India.
FICCI Frames is the annual conclave of media & entertainment industry attracting policy makers, producers, distributors, media and entertainment industry professionals in large numbers. The theme for 2016 is “Year of the Digital : Change or Perish”.

Television actress Pratyusha Banerjee allegedly commits suicide

File photo of Pratyusha Banerjee
File photo of Pratyusha Banerjee
Young television actress Pratyusha Banerjee, who shot to fame with her debut role as Anandi in television serial Balika Vadhu, died this evening in an apparent case of suicide, police sources said.
According to them, the 24-year-old actress was found hanging from a ceiling fan at her residence in the Goregaon area of the city and was rushed to the Kokilaben Ambani Hospital in Andheri, where doctors pronounced her dead.
While police have registered a case of alleged suicide, they are looking at all other angles, the sources said.
"We are investigating all angles," a police officer said. Asked if the police had found any suicide note, he said they were still searching her apartment for clues to what could have happened.
Her body was sent for post-mortem examination to determine the cause of death.
Pratyusha, who hailed from Jamshedpur and had come to Mumbai to make a career for herself in the entertainment industry, had participated in reality shows such as Bigg Boss, Power Couple and Jhalak Dikhhla Jaa 5. She had also acted in television serials such as Sasural Simar Ka, Pyaar Tune Kya Kiya and Hum Hain Naa.
Several of her friends from the industry and co-actors said she was a strong person who could not have taken her own life.

Simmons slams unbeaten 82 as West Indies outplay India to reach final

Lendl Simmons slammed an unbeaten 82 and opener Johnson Charles made 52 as the West Indies outplayed India by seven wickets in emphatic fashion to storm into the final of the ICC World T20 tournament at the Wankhede Stadium here tonight.
Asked to bat first by West Indies skipper Darren Sammy, the hosts posted an imposing 192 for two from their 20 overs, powered by Virat Kohli's unbeaten 89 and breezy knocks of Rohit Sharma (43) and Ajinkya Rahane (40).
In response, the West Indies lost two of their top batsmen -- Chris Gayle (5) and Marlon Samuels (8) -- with just 19 on the board in three overs. Charles and Simmons then added 97 for the third wicket to put them back on course and Andre Russell came up with an unbeaten 43 to see them through at 196 for three with two balls to spare.
West Indies will now meet England in the final at the Eden Gardens in Kolkata on Sunday, April 3. England had beaten New Zealand in the first semi-final in Delhi yesterday.
Charles and Simmons thrashed the Indian bowling, sending 11 balls into the stands and striking 20 fours.
Danger-man Gayle was removed by pace bowler Jasprit Bumrah with his very first ball in the second, a yorker on the off-stump which sent the stumps flying. The West Indies were 6 for 1 at that point.
Ashish Nehra dismissed Samuels in the next over when a thick edge looped straight into the hands of Rahane at cover to make it 19 for 2.
Simmons and Charles added 97 for the third wicket off 61 balls to resurrect the West Indians innings. Charles hit two massive sixes off spinner Ravichandran Ashwin and Hardik Pandya.
He sent a short ball on middle stump into the crowd off the first ball of the ninth over bowled by the spinner and followed it up with a boundary past Pandya at wide-long on to bring up the 50 of the partnership.
The second ball of the next over by Pandya was a thick outside edge which flew past short-third man to hit the boundary cushions. He drilled the next ball which was short and on off-stump through square leg off his back foot for a boundary. 
Simmons attacked the next over by Jadeja, sending the first ball into the stands and following it up with a square drive which raced to the fence off the third ball. 
Charles brought up his half-century in the next over by smashing Pandya’s ball on his pads in front of square leg for a four. 
The runs kept flowing steadily for the West-Indies as the Indians failed to pick up wickets. The Indian bowling attack was having trouble containing the run flow once both the batsmen had adapted to the pitch. 
However, a bowling change introducing Virat Kohli worked out in favour of the Indians. Charles departed off the very first ball. A top-edge off the bat flew straight to Rohit Sharma’s hands at long-off, leaving the West Indies with the task of getting 77 from the remaining 41 balls.
Russell kept up the attack, scoring a boundary off the first ball of the 15th over sent down by Pandya and following it up with a massive 99-m six down the ground. 
There was more to come as Simmons smashed the last ball of the over, a free-hit, into the stands as well. Russell kept going, hitting Nehra’s fourth ball in the next over, which was short and outside the off-stump for a six wide away from long-on.
The West Indians required 32 runs from the last three overs. Simmons moved up to 75 when he smashed the fourth ball of the next over by Bumrah for a six that also brought up the 50 of the partnership.
Ravindra Jadeja managed to catch the ball at wide long-on, but stepped on the boundary rope to nullify the catch. The last ball, outside off-stump, was placed craftily between point and third man.
Simmons smashed the fifth ball of the penultimate over the sight screen to reduce the equation to 12 runs required off seven balls. A blistering drive through cover for four helped to reduce the margin further.
Russell smashed the last over from Kohli for 10 runs, hitting a boundary off the third ball and a huge six over mid-wicket to obtain a hard-won victory for his side.
Together, Russell and Simmons added 80 in their unfinished partnership for the fourth wicket, off 51 balls, to ensure that the West Indies prevailed today.
Simmons' 82 came off 51 balls and was studded with seven fours and five sixes. Russel faced 20 balls and struck three fours and four sixes in his unbeaten 43.
Earlier in the evening, India began their innings well, with Sharma and Rahane putting on 62 for the first wicket in 7.2 overs.
Sharma made 43 off 31 balls with the help of three fours and three sixes. He sent a short ball from Sulieman Benn in the fourth over racing through point for a boundary and followd it up with a classic and perfect sweep off his pads. The batsman who was clearly loving his home ground was raring to go. He dismissed a full-toss no-ball from Andre Russell over fine-leg into the stands. Making use of the free hit the next ball, he smashed a good length-off-stump delivery right back down the ground with a free-flow of the bat into the ropes. He followed it up with a boundary two balls later.
Sharma departed in the eighth over to a ball bowled good length on the leg by Samuel Badree. The ball sneaked through the batsman's defence, hitting him on the pad and trapping him leg before wicket.
Rahane, who made 40, and Kohli went on from there onwards to build up a superb second wicket partnership of 66 from 49 balls.
Kohli was in his zone, scoring 41 of the runs in the partnership while the opener rotated the strike and kept knocking away the singles to creep to his 40.
Rahane fell to Russell in the 16th over to make it 128 for two. A short ball on off-stump was improperly hooked and was caught at mid-wicket by Dwayne Bravo, who was thrilled and put on a small little dance for the crowd behind him.
Skipper MS Dhoni joined Kohli for the final four overs of their batting. Kohli reached his half-century off the ultimate ball of the 17th over, in which he struck two boundaries and Dhoni got a four off a paddle-sweep. Together they made 17 runs off that over by Brathwaite, taking the men in blue to 150/2.
Kohli smashed two more boundaries in the 18th over by Bravo. The fourth ball was dispatched wide of long-on and raced to the rope despite Brathwaite’s best efforts. The sixth ball raced off the blade through extra-cover beating Russell at the ropes.
Russell’s third ball the next over was a slower one which was dispatched downtown into the stands by an alert Kohli who pounced on the ball without second thought. The last two balls were dispatched for boundaries through a ripper-cover into extra-cover and an on-drive which there was no stopping, taking India to 180/2 with one more over to go.
They were able to obtain 12 runs off the last over, setting a target off 193 for a win for the West indies.
Kohli's brilliant knock came off 47 balls and included eleven boundaries and a six. Dhoni remained not out with 15, with one four. The two batsmen displayed perfect understanding and ran some quick singles and twos and ran a hard three runs in the final over.
R Sharma lbw Badree 43
A Rahane c Bravo b Russell 40
V Kohli not out 89
M S Dhoni not out 15
Extras (2nb, 2w, 1lb) 5
Total (2 wickets, 20 overs) 192 (9.6 rpo)
Did not bat: S Raina, M Pandey, H Pandya, R Jadeja, R Ashwin, A Nehra, J Bumrah
Fall of wickets:1-62 (Sharma, 7.2 ov), 2-128 (Rahane, 15.3 ov)
A Russell 4 0 47 1
S Badree 4 0 26 1
C Brathwaite 4 0 38 0
S Benn 4 0 36 0
D Bravo 4 0 44 0
West Indies
J Charles c R Sharma b Kohli 52
C Gayle b Bumrah 5
M Samuels c Rahane b Nehra 8
L Simmons not out 82
A Russell not out 43
Extras (4lb, 2nb) 6
Total (3 wickets; 19.4 ov) 196 (9.96 rpo)
Did not bat: D Ramdin, D Bravo, D Sammy, C Brathwaite, S Badree, S Benn
Fall of wickets: 1-6 (Gayle, 1.1 ov), 2-19 (Samuels, 2.6 ov),3-116 (Charles, 13.1 ov) 
A Nehra 4 0 24 1
J Bumrah 4 0 42 2
R Ashwin 2 0 20 0
R Jadeja 4 0 48 0
H Pandya 4 0 43 0
V Kohli 1.4 0 15 1
Player of the Match: Lendl Simmons (West Indies).

Kohli’s unbeaten 89 powers India to 192/2 against West Indies

Virat Kohli slammed an unbeaten 89 to power India to an imposing 192 for 2 against the West Indies in the second semi-final of the ICC World Twenty20 tournament at the Wankhede Stadium here tonight.
Asked to bat first by West Indies skipper Darren Sammy, India began well, with openers Rohit Sharma and Ajinkya Rahane paving the way with a 62-run partnership for the first wicket in 7.2 overs.
Sharma made 43 off 31 balls with the help of three fours and three sixes. He sent a short ball from Sulieman Benn in the fourth racing through point for a boundary and followd it up with a classic and perfect sweep off his pads. The batsman who was clearly loving his home ground was raring to go. He dismissed a full-toss no-ball from Andre Russell over fine-leg into the stands. Making use of the free hit the next ball, he smashed a good length-off-stump delivery right back down the ground with a free-flow of the bat into the ropes. He followed it up with a boundary two balls later.
Sharma departed in the eighth over to a ball bowled good length on the leg by Samuel Badree. The ball sneaked through the batsman's defence, hitting him on the pad and trapping him leg before wicket.
Rahane, who made 40, and Kohli went on from there onwards to build up a superb second wicket partnership of 66 from 49 balls.
Kohli was in his zone, scoring 41 of the runs in the partnership while the opener rotated the strike and kept knocking away the singles to creep to his 40.
Rahane fell to Russell in the 16th over to make it 128 for two. A short ball on off-stump was improperly hooked and was caught at mid-wicket by Dwayne Bravo, who was thrilled and put on a small little dance for the crowd behind him.
Skipper MS Dhoni joined Kohli for the final four overs of their batting. Kohli reached his half-century off the ultimate ball of the 17th over, in which he struck two boundaries and Dhoni got a four off a paddle-sweep. Together they made 17 runs off that over by Brathwaite, taking the men in blue to 150/2.
Kohli smashed two more boundaries in the 18th over by Bravo. The fourth ball was dispatched wide of long-on and raced to the rope despite Brathwaite’s best efforts. The sixth ball raced off the blade through extra-cover beating Russell at the ropes.
Russell’s third ball the next over was a slower one which was dispatched downtown into the stands by an alert Kohli who pounced on the ball without second thought. The last two balls were dispatched for boundaries through a ripper-cover into extra-cover and an on-drive which there was no stopping, taking India to 180/2 with one more over to go.
They were able to obtain 12 runs off the last over, setting a target off 193 for a win for the West indies.
Kohli's brilliant knock came off 47 balls and included eleven boundaries and a six. Dhoni remained not out with 15, with one four. The two batsmen displayed perfect understanding and ran some quick singles and twos and ran a hard three runs in the final over.
R Sharma lbw Badree 43
A Rahane c Bravo b Russell 40
V Kohli not out 89
M S Dhoni not out 15
Extras (2nb, 2w, 1lb) 5
Total (2 wickets, 20 overs) 192 (9.6 rpo)
Did not bat: S Raina, M Pandey, H Pandya, R Jadeja, R Ashwin, A Nehra, J Bumrah
Fall of wickets:1-62 (Sharma, 7.2 ov), 2-128 (Rahane, 15.3 ov)
A Russell 4 0 47 1
S Badree 4 0 26 1
C Brathwaite 4 0 38 0
S Benn 4 0 36 0
D Bravo 4 0 44 0

L&T Construction wins orders valued at Rs. 2271 crore

Infrastructure major Larsen & Toubro (L&T) today said its construction division had won orders worth Rs. 2271 crore across various businesses, including a major commercial development and a breakthrough transmission line order in Thailand.
A press release from the company said its Buildings & Factories Business had bagged a major turnkey order worth Rs. 1500 crores from a leading developer to construct a world-class mixed use development in New Delhi.
The project includes construction of a convention centre, business centre tower and two hotel towers as part of the overall development. 
L&T’s scope of work Involves civil, structural, architectural, mechanical, electrical, plumbing and finishing works, it said.
The release said the company's Heavy Civil Infrastructure Business, in its Defence segment, had bagged a construction order worth Rs. 450 crore for the upgradation works at Air Force Academy, Hyderabad.
The scope involves resurfacing and extension of main runway and parallel taxi track, widening of tracks, earth filling and allied works. This is part of the overall upgradation of all the bases in the country, it said.
The release said the company's Power Transmission & Distribution Business had won new orders worth Rs. 321 crore in both the domestic and international markets.
As a part of business strategic initiative to foray into South East Asia, a breakthrough order has been received from Electricity Generating Authority of Thailand (EGAT) for the engineering, procurement and construction of 500 kV transmission line for Thai/Laos Border Crossing.
On the domestic front, the company said it had received an order for engineering, procurement and construction of 765 kV double circuit Bhuj Banaskanta transmission line (part-1) from Power Grid Corporation of India Limited, which is associated with Green Energy Corridor.

Tata Steel Europe to explore portfolio restructuring, including divestment of Tata Steel UK

The Tata Steel board has, after taking a strategic view regarding its United Kingdom business, advised the board of its European holding company, Tata Steel Europe, to explore all options for portfolio restructuring including the potential divestment of Tata Steel UK, in whole or in parts. 
"Given the severity of the funding requirement in the foreseeable future, the Tata Steel Europe board will be advised to evaluate and implement the most feasible option in a time bound manner," a press release from Tata Steel said.
The release said that, at its meeting yesterday, the Tata Steel boad reviewed the recent performance of the European business of the company, more specifically, of Tata Steel UK. 
"It noted with deep concern the deteriorating financial performance of the UK subsidiary in the last twelve months. While the global steel demand, especially in developed markets like Europe has remained muted following the financial crisis of 2008, trading conditions in the UK and Europe have rapidly deteriorated more recently, due to structural factors including global oversupply of steel, significant increase in third country exports into Europe, high manufacturing costs, continued weakness in domestic market demand in steel and a volatile currency.
"These factors are likely to continue into the future and have significantly impacted the long term competitive position of the UK operations in spite of several initiatives undertaken by the management and the workers of the business in recent years. Even under these adverse market conditions, the Tata Steel has extended substantial financial support to the UK business and suffered asset impairment of more than £2 billion in the last five years," it said.
The Tata Steel board also reviewed the proposed restructuring and transformation plan for Strip Products UK, prepared by the European subsidiary in consultation with an independent and internationally reputed consultancy firm. 
"Based on the review conducted, the Tata Steel board came to a unanimous conclusion that the plan is unaffordable, requires material funding support in the next two years in addition to significant capital commitments over the long term, the assumptions behind it are inherently very risky, and its likelihood of delivery is highly uncertain. Therefore, the board concluded that it would not be able to support the investment necessary to proceed with the proposed Strip Products UK transformation plan.
"The company has also been in deep engagement with the UK government in recent months seeking its support to achieve the best possible outcome for the UK business, within the restrictions of State Aid Rules and other statutory limits. These discussions are ongoing and will continue. Discussions will also continue with Greybull in relation to a sale of the UK Long Products business. The UK government is also involved in the latter discussions," the release added.

Reliance Capital completes sale of additional 23% stake in Reliance Life Insurance to Nippon

Reliance Capital, a part of the Anil Ambani led Reliance Group, today said it had completed the sale of an additional 23 percent stake in Reliance Life Insurance to Nippon Life Insurance of Japan.
A press release from the company said the entire transaction proceeds of Rs. 2,265 crore ($ 348 million) for the additional 23%stake in Reliance Life Insurance had been duly received by Reliance Capital from Nippon Life Insurance. 
The transaction pegs the valuation of Reliance Life Insurance at approximately Rs 10,000 crore ($ 1.5 billion), amongst the highest in the industry till date, it said.
Nippon Life Insurance now holds 49 per cent stake in Reliance Life Insurance. In line with the new shareholding, Reliance Life Insurance will be renamed as Reliance Nippon Life Insurance Company. 
“We would like to welcome Nippon Life Insurance as our equal partners in Life Insurance and Asset Management businesses. We have immensely benefitted from our relationship with Nippon Life over the last five years and look forward to further consolidate this partnership in India and abroad with their experience,” said Mr. Sam Ghosh, ED and Group CEO, Reliance Capital. 
The Japanese company’s investment in Reliance Life Insurance represents implied Embedded Value multiple of over 3 times, the highest in the industry till date, the release siad.
Nippon Life Insurance is investing a total of Rs 8,630 crore ($ 1.5 billion) for acquiring 49% stake each in Reliance Life Insurance and Reliance Capital Asset Management. 
Reliance Life Insurance is amongst the leading private sector life insurance companies in India, in terms of new business premium. The company recorded a new business premium of Rs 285 crore ($ 43 million), renewal premium of Rs. 706 crore ($ 107 million), total premium (net of reinsurance) of Rs. 986 crore ($ 149 million) and total funds under management of Rs. 16,038 crore ($ 2.4 billion) for the quarter ended December 31, 2015. 
Nippon Life Insurance is an over 125 years old insurer and a Global Fortune 500 company that manages over $ 520 billion (Rs 33.8 lakh crore) in assets - amongst the largest total assets in the world for any life insurer, the release added.

Sun Pharma enters Japan with acquisition of 14 prescription brands

Pharmaceuticals major Sun Pharma today said it had acquired 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan for a cash consideration of $ 293 million.
According to the agreements entered into between the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio  of prescription brands from Novartis, a press release from the company said.
The release said the brands had combined annualized revenues of approximately $ 160 million and address medical conditions across several therapeutic areas. 
"Under the terms of the agreements, Novartis will continue to distribute these brands, for a certain period, pending transfer of all marketing authorizations to Sun Pharma’s subsidiary. The acquired brands will be marketed by a reliable and established local marketing partner under the Sun Pharma label. The local marketing partner will also be responsible for distribution of the brands," it said.
Mr. Dilip Shanghvi, Managing Director, Sun Pharma said, “Japan is a market of strategic interest for us. This acquisition marks Sun Pharma’s foray into the Japanese prescription market and provides us an opportunity to build a larger product portfolio in the future.” 
As per the December-2015 IMS Data, the size of the Japanese pharmaceutical market was estimated at $ 73 billion, accounting for over 7% of the $ 1 trillion global pharmaceutical market. 

Piramal, APG Asset Management to invest $ 132 million in Essel Infra’s Solar IPP venture

Piramal Enterprises Limited (PEL), through its Structured Investment Group, and Dutch pension fund asset manager APG Asset Management will invest $ 132 million to power the Essel Infrastructure’s Solar IPP platform across India.
As part of the transaction, PEL and APG would jointly invest $ 132 million (Rs. 900 crore) in Essel Green Energy Private Ltd, the solar platform vehicle of Essel Infraprojects Ltd. 
Essel Green Energy Private Ltd, currently owns 160 MW of Solar IPP assets in four states of India, of which, 110 MW is operational and 50 MW is currently under execution, a press release from the three organisations said.
"With this investment, Essel Group will propel its solar power agenda across India," it said.
Ernst and Young India was the financial adviser to the Essel Group for the transaction. 
The release said Essel Infraprojects Limited (EIL), an enterprise of the Subash Chandra-led Essel Group, plans to ramp up its solar power capacity to 1,000 MW in the next 2-3 years. 
Essel Green Energy has been the pioneer in the solar sector in India with the first 50 MW project in Uttar Pradesh to its credit, the release siad.
"The strategic alliance formed in 2014 between PEL and APG committed $1 billion for investments in infrastructure companies and we see great potential in green energy as a segment. Given the Government's focus on non-conventional energy and Essel Infra’s strong track-record, we are confident that the investment will yield good results,” said Jayesh Desai, Co-head, Structured Investments Group- Piramal Enterprises Ltd.
Hans-Martin Aerts, Head of Infrastructure Investments Asia Pacific at APG said, “We view India as an attractive renewable energy market with favorable growth dynamics. APG is a strong supporter of increased investments in sustainable energy generation. We are pleased to support Essel Green Energy in growing its portfolio of solar projects and to contribute to meeting India’s renewable energy targets.”
Essel Infraprojects Limited CEO & Whole Time Director, Mr. Ashok Agarwal, said he was excited at the expansion opportunity this investment represents.
“Essel Group has ambitious plans to expand its foot-print in the Green Energy field. With the impetus provided by the Central Government to solar energy we are upbeat about the outlook for the industry. APG and Piramal Enterprise’s trust in us, demonstrated through this investment makes us even more confident of powering the development agenda of an India on the move," he said.
PEL is one of India’s large diversified companies, with a presence in Healthcare, Healthcare Information Management and Financial Services. 
The Structured Investment Group provides long term patient mezzanine capital to corporates in various sectors like infrastructure, manufacturing, consumer services, education, which are directly related to India’s long term growth potential. In continuation of its commitment to the sector, PEL has partnered with APG Asset Management, Netherland’s largest Dutch pension fund, with a target to co-invest $1 billion over the next three to four years in India’s high growth infrastructure sector.

Zubin Mehta to celebrate 80th birthday with concerts in Mumbai

File photo of Zubin Mehta.
File photo of Zubin Mehta.
Well-known conductor Zubin Mehta will celebrate his 80th birthday with a series of three concerts in Mumbai organized by the Mehli Mehta Music Foundation.
The Israel Philharmonic Orchestra (IPO) will return to Mumbai after seven years, under the baton of Mehta, who has had a long standing relationship with the IPO and its Director for Life. 
Five internationally acclaimed soloists -- Pinchas Zuckerman, Denis Matsuev, Amanda Forysth, Maria Katzarava, and the sensational tenor Andrea Bocelli, will perform with the orchestra on Sunday April 17th, Monday April 18th and Wednesday April 20th.  
The final concert will be an opera gala at the Brabourne Stadium where Bocelli will perform with the soprano Maria Katzarava.  
"Andrea Bocelli’s wide repertoire has brought into his audience, lovers of different music genres, different ages and all nationalities. His performance in Mumbai should be an unforgettable experience," a press release from the Mehli Mehta Music Foundation said.
Tickets for all three concerts have gone on sale from Sunday March 27 from 9:00 am to 6:00 pm at the K. R. Cama Institute Hall, Bombay Samachar Marg, opposite Lion Gate, Fort, Mumbai. 
Tickets for the April 20th concert will also be available on from 9:00am onwards from March 27th until April 20th 
Mehroo Jeejeebhoy, Founder and Trustee of the Mehli Mehta Music Foundation, said, “We’re very proud to have maestro Zubin Mehta visit India so soon after last year’s visit.  But this visit is particularly special: Mumbai nurtured the young maestro, and he is bringing to the city the orchestra that he himself has nurtured.  What better way to celebrate his 80th birthday?  It  doesn’t get any more special than that.  
“To have the opportunity to hear Bocelli, Matsuev, Zukerman, Forsyth and Katzarava, with the IPO, makes this a once in a lifetime occasion," she said.
The Mehli Mehta Music Foundation was established in 1995 as a not-for-profit organisation to promote western classical music and to honour Mehli Mehta, Zubin Mehta's father, who in the 1930s and 1940s was the motivating force behind the Bombay String Quartet, the Bombay Symphony Orchestra and western classical music in the city. 
“Western classical music has a great history in India, and our Foundation focuses on keeping this tradition alive, by offering 
opportunities to study music to students, adults and teachers of western classical music. We teach over 400 students but could easily double our number of students if we had more available space.  The Mehli Mehta Music Foundation's outreach programme for children from low income communities has nearly 900 students in its programme.  Research has shown that music is incredibly important for the overall development of children. The presentation of concerts by the MMMF brings to Mumbai world class orchestras and soloists, and enriches the city’s cultural landscape," Ms. Jeejeebhoy said.
Zubin Mehta was born on April 29, 1936 in Bombay and received his first musical education from his father. He started his career by winning the Liverpool International Conducting Competition in 1958 and was also a prize winner of the summer academy at Tanglewood.
By 1961, he had already conducted the Vienna and Berlin Philharmonic Orchestras and still retains close ties with them.  He was Music Director of the Montreal Symphony Orchestra from 1961 to 1967. He became Music Director of the Los Angeles Philharmonic Orchestra in 1962 – a post he retained until 1978.  
In 1969 he also became Music Advisor to the Israel Philharmonic Orchestra and was made Music Director of the orchestra in 1977.  In 1981 he was made Music Director for Life.  
Mehta has conducted over 3,000 concerts, including tours covering five continents.  In 1978 he was appointed Music Director of the New York Philharmonic Orchestra, a tenure lasting 13 years – the longest in the orchestra’s history.  Since 1985, he has been the chief conductor at the Teatro del Maggio Musicale Fiorentino in Florence.
The release said the support of young talent is of major interest to Mehta. He founded the Mehli Mehta Music Foundation in Mumbai.  He is also associated with The Buchmann-Mehta School of Music in Tel Aviv, which is closely related to the Israel Philharmonic Orchestra. His new project offers young Arab Israelis in the cities of Shwaram and Nazareth opportunities to study with members of the Israel Philharmonic Orchestra.  

Tata Sons to increase stake in Air Asia India to 49%

Tata Sons has said that it has entered into an agreement with Air Asia India, Telestra Tradeplace and two of the directors of Air Asia India -- S Ramadorai (chairman) and R Venkataramanan -- under which it proposes to increase its stake in the company to 49 percent from its existing stake of 41.06 percent, by acquiring 7.94 percent equity stake from Telestra. 
Mr Ramadorai and Mr Venkataramanan, in their individual capacity, propose to acquire 0.5 percent and 1.5 percent shareholding respectively of Telestra’s remaining 2 percent equity stake in the company, a press release from Tata Sons said.
"AirAsia Investment will continue to hold its 49 percent stake in the company. The agreement was entered into on March 14, 2016, and the transaction is proposed to be completed in April 2016, subject to completion of the relevant corporate approvals and processes," the release added.

HCC wins orders valued at Rs 623 crore

Infrastructure major Hindustan Construction Company Ltd (HCC) today said it had won two contracts worth Rs 623 crore in the hydro power and tunneling sectors. 
The first order is of Rs 456 crore from the Tangsibji Hydro Energy Ltd of Bhutan while the second order is of Rs 167 crore from JKSPDC, a press release from the company said.
The order from the Tangsibji Hydro Energy Ltd of Bhutan is for constructing the 118 MW Nikachhu Hydropower Project in Trongsa district of Bhutan. This is an EPC contract and the project is to be completed in 48 months, it said.
This will be the second hydroelectric power project awarded to HCC on EPC basis and the fifth project in Bhutan. Recently, the company has completed the 124MW Dagachhu hydroelectric power project on EPC basis in Dagana district of Bhutan. HCC is associated with construction of four hydropower projects, including 60 MW Kiruchu HEP, 1020 MW Tala HEP, 126 MW Dagachhu HEP and Package MC3 of 1200MW Punatsangchhu-I HEP.
The order from JKSPDC is for constructing a double lane tunnel of approximately 1500m length which shall be the access road to the 1856 MW Sawalkote Hydroelectric Power Project in Jammu & Kashmir. This is also an EPC contract involving investigation, design and construction of the tunnel. The project is to be completed in 30 months, the release said.
Mr. Arun Karambelkar, President & CEO - E&C, HCC Ltd. said “These two order wins reflect the growing confidence in HCC’s capability to execute key projects in the challenging terrain of the Himalayan ranges. HCC, having delivered four hydro electric projects in Bhutan, is committed toward the development of hydro power of Bhutan."
With these order wins, HCC’s order intake in FY 2015-16 has reached Rs 5,778 crore. Besides, the company is the lowest bidder in four projects worth Rs 3,677 crore. The combined order backlog is likely to cross Rs 21,000 crore in FY2015-16, the release added.

India's forex reserves surge by $ 2.539 billion to new high of $ 355.947 billion

Maintaining an uptrend for the third consecutive week, India's foreign exchange reserves surged by $ 2.539 billion to an all-time high of $ 355.947 billion in the week ended March 18, the Reserve Bank of India (RBI) said here today.
The previous high stood at $355.459 billion in the week ended June 19, 2015.
The country's forex reserves had soared by $ 2.544 billion to $ 353.408 billion during the previous week.
In its weekly statistical supplement, the central bank said that  foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 2.505 billion to $ 332.505 billion in the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves went up by $ 0.6 million to $ 19.3254 billion, while its special drawing rights (SDR) went up by $  12.1 million to $ 1.4987 billion.
India's reserve position in the Indian Monetary Fund (IMF) increased by $ 21.1 million to $ 2.618 billion, the bulletin added.

I&B Secretary reviews progress of upcoming Film Museum in Mumbai

The upcoming National Museum on Indian Cinema will be housed in a state-of-the-art new building in Mumbai.
Mr Sunil Arora, Secretary, Information & Broadcasting, said he had  held a review meeting yesterday on the progress of work in phase II of the  Museum coming up at the Films Division premises.
He said every effort was being made to create such facilities to provide visitors to the museum an interactive viewing experience. The museum should highlight cultural and social impact of cinema, he added.
The museum, spread over five levels would showcase various facets of Indian cinema from its early years to the present period. It would also have interactive exhibitions on all verticals of film making covering cinematography, editing, sound, script writing and screenplay among others.
There would also be special sections on regional cinema, Hindi cinema, documentaries and Indian film music.
The new building housed in the Films Division complex on Pedder Road in South Mumbai, would also have two mid-size auditoriums, viewing galleries, cafeteria among others. It is being constructed by the public sector National Building Construction Company.
National Council of Science Museums, Kolkata under the Ministry of Culture has been tasked with setting up of the museum.
Earlier in the day, Secretary I&B visited All India Radio, Mumbai and interacted with the personnel.

Four Additional Judges appointed in Bombay High Court

The President has appointed Ms. Swapna Sanjiv Joshi, Mr. Kishor Kalesh Sonawane, Mr. Sangitrao Shamrao Patil, and Ms.  Nutan D. Sardessai to be Additional Judges of the Bombay High Court.
An official press release said the appointments, in that order of seniority, would be for a period of two years with effect from the date they assumed charge of their respective offices.

Eros International’s Trinity Pictures to start production of its first slate in FY 2017

Leading Indian studio Eros International today said that itsTrinity Pictures, which was set up as India’s first franchise feature studio in February 2015, is now ready with its first slate of films across new and exciting genres.
"In what is said to change the way films are traditionally developed, Trinity’s first slate is all about creating character-driven franchises which will be leveraged across feature films, merchandising, digital and more," a press release from the company said.
With a focus on creating fresh concepts in new spaces, Trinity is also the first Bollywood studio in India that has a dedicated in-house team of writers in the ‘Trinity Writers’ Room’ who have created over ten original franchises since the Division’s inception, out of which at least four films will go into production in fiscal year 2017, it said.
The release said Trinity’s initial line-up includes a range of character-driven franchises across budgets, genres and languages – from a live action elephant film, to a kid’s action film and an Indo-China project.
These will be helmed by acclaimed directors from across the country including Kabir Khan, Siddharth Anand, Amole Gupte, Telugu director Krish and popular Tamil director Prabhu Solomon.
The first feature to roll out under Trinity Pictures will be director Amole Gupte’ s favorite genre but with a difference – a kids action film, a big scale action film with a child secret agent at the centre of the story that will go on floor in the summer vacation.
With Trinity’s launch, the studio is looking at expanding new film markets which includes opening of one of the biggest markets in the world – China. Two projects will be co-produced with a leading Chinese studio, based on stories organically weaving the socio-cultural worlds of India and China. Additionally, the films will be shot in both languages. The first Indo-China co-production to roll will be directed by Kabir Khan with an A-lister cast from India and China — a human drama exploring the central character’s journey from India to China.
Other projects in the pipeline include a film by Siddharth Anand which will explore a fresh take on the spy genre in India. This genre is a global favourite with franchise potential.
Multiple award winning Tamil director, Prabhu Solomon’s bilingual project will be an inspiration from the quintessential super hit animal film—Haathi Mere Saathi. The shooting will take place during the monsoons across India and abroad and will be mounted on a scale with never-seen-before visual effects in this genre.
Ace director Krish’s buddy cop film will be shot in Hindi and Tamil simultaneously, featuring popular lead actors from both the South and Bollywood. This film has been co-written by Shridhar Raghavan (mentor to Trinity writers), Dheeraj Rattan and K. Subhash.
Jyoti Deshpande, Group CEO, Eros International said, “With Trinity, we continue our endeavor to raise the bar in revolutionizing Indian cinema. As a leading film studio, we have peaked with three out of the top four and seven out of top fifteen films in Bollywood in 2015 being Eros films. Trinity strategy is all about conceiving breakthrough big content ideas and unlocking value from that intellectual property across various distribution platforms for a very long time. We are excited about the slate under development and hope we will have a few top ten films from Trinity”.
Ajit Thakur, CEO, Trinity Pictures added, “With Trinity, there is an effort to create something absolutely new for the Indian market, an effort in investing in creating characters that open a world of possibilities – films, digital games, comics, merchandise. We have writers for the first time creating characters first and then building scripts and projects around these characters. We are the first studio to have tied up with China for co-productions and will be creating new markets with films shot in multiple languages.  There are many firsts to Trinity and only Eros could have seen the merit in a franchise set up as this and taken the risk of making Trinity Pictures happen. We are very excited that the characters and franchises we are creating will hopefully entertain Indian audiences across platforms and well beyond the first Friday."

Chris Morris bags 4/27 to give South Africa 37-run win over Afghanistan

Pace bowler Chris Morris bagged four to lead South Africa to a 37-run win over Afghanistan in a Group 1 match in the Super 10 stage of the ICC World Twenty20 tournament at the Wankhede Stadium here this evening.
Opting to bat first, the formidable South Africans posted an imposing 209 for five in their 20 overs.
Chasing 210 for a win, Afghanistan were bowled out for 172 in 20 over.
A B de Villiers topscored for the South Africans with 64 and was involved in a fourth wicket partnership of 76 with J P Duminy (29 not out).
Wicket-keeper batsman Quinton de Kock made 45 and captain Faf Du Plessis (41) boosted their total further. de Villiers' 64 came off 29 balls and was studded with four fours and five sixes.
For the Afghans, medium-fast bowler Dawlat Zardan gave away 46 runs while managing to get one wicket, while leg-break bowler Rashid Khan conceded 51 without any wicket.  Amir Hamza, Shapoor Zadran and Mohammad Nabi picked up a wicket each.
Opener Mohammad Shahzad led the Afghanistan fightback, making 44 off 19 balls and putting on 52 for the first wicket with Noor Ali Zardan (25) in four overs. Shahzad made his exit when he was bowled by Morris.
Afghan skipper Asghar Stanikzai made only seven before falling in the sixth over after edging Morris to de Kock. Gulbadin Naib (26) departed in the same manner, off Kyle Abbott in the 11th over to make it 105 for three. Zardan did not last much longer and was dismissed at the end of the 12th over, stumped by de Kock off spinner Imran Tahir.
Morris' performance wth the ball earned him the Player of the Match award. Tahir picked up two for 24 in his four overs and the two bowlers contained the Afghanistan chase and prevented them from gaining momentum.
The last bit of resistance in the Afghanistan batting came in the form of Nabi (11) and Samiullah Shenwari (25). Nabi was dismissed early on in the 15th over while the latter departed in the 18th over, caught by David Wiese off Abbott, making it 156/7. 
From there on, Kagisa Rabada picked up the wicket of Najibullah Zardan (12), getting him caught behind the wickets by de Kock in the 19th over. Morris wrapped up the tail picking up two more wickets and confirming a massive 37-run victory for his side. 
South Africa 
Q De Kock c Shahzad b Hamza 45
H Amla  c Stanikzai b Zardan 5
F Du Plessis run out Nabi 41
AB de Villiers c Zardan b Nabi 64
JP Duminy not out 29
D Miller c Naib b Zardan 19
D Wiese out out 0
Extras (w4, lb2) 6
Total (5 wickets; 20 overs) 209 (10.45 rpo)
Did not bat: C Morris, K Abbott, K Rabada, I Tahir
Fall of wickets: 1-25 (Amla, 2.4 ov), 2-90 (Du Plessis, 9.4 ov) 3-97(De Kock, 11.4 ov), 4-1173 (De Villiers 17.3ov), 5-203 (Miller, 19.5 ov)
A Hamza 3 0 25 1
D Zardan 3 0 46 1
S Zardan 3 0 28 1
M Nabi 4 0 35 1
R Khan 4 0 51 1
S Shenwari 3 0 22 0
M Shahzad b Morris 44
N A Zardan st de Kock b Tahir 25
A Stanikzai c de Kock b Morris 7
G Naib c de Kock b Abbott 26
S Shenwari c Wiese b Abbott 25
N Zardan c De Kock b Rabada 12
R Khan b Morris 0
A Hamza not out 3
S Zardan b Morris 1
Extras (lb 1, w 6) 7
Total (all out;20 overs) 172(8.60 rpo)
Fall of wickets: 1-52 (Zardan, 4 ov), 2-60 (Stanikzai, 5.2 ov), 3- 105 (Naib, 10.3 ov), 4- 109 (NA Zardan 10.5 ov), 5- 140 (Nabi, 15.1 ov), 6-156 (N Zardan, 17 ov), 7-156 (Shehwari, 17.1 ov), 8-167 (R Khan, 18.3 ov), 9-169 (D Zardan, 19 ov), 10- 172 (S Zardan 20 ov)
K Rabada 4 0 37 2
K Abbott 4 0 36 2
C Morris 4 0 27 4
I Tahir 4 0 24 2
D Wiese 4 0 47 0

Port & shipping sector has tremendous employment potential: Gadkari

The port and shipping sector has potential to create nearly 4 million direct jobs and 6 million indirect employment opportunities over the next five years, Union Minister for Shipping, Road Transport and Highways Nitin Gadkari said here yesterday.
 “All the developed countries have a vibrant port sector, but unfortunately, our maritime sector remained neglected over the years, despite having immense potential,” Mr Gadkari said at the curtain raiser press conference of the India Maritime Summit here.
"The Ministry has drawn up projects with investment potential of Rs 1,20,000 crore, (US $ 18 billion) which will be showcased at the India Maritime Summit to be held in Mumbai from April 14 -16,” he added.
These include 27 port based industrial clusters, promotion of coastal shipping and development of inland waterways as part of the ‘Sagarmala’ Project.
The Minister said there was an urgent need to bring down the logistics costs to make India’s products as well exports competitive. “Currently logistics costs in India are about 18%, while they are 10-12% in Europe. Our focus is on bringing down the logistics cost from 18% to 12% by developing coastal shipping and inland waterways. Needless to mention, water transport is the cheapest mode of transport,” he added.
Giving details of major initiatives taken by the Government, Mr  Gadkari said new greenfield ports will be coming up at Vadhavan near Dahanu in Maharashtra, Colachal near Kanyakumari in Tamil Nadu and Sagar Island in West Bengal, entailing an investment of Rs. 20,157 crore.
Port modernization programmes, hinterland connectivity and multi-modal logistics also offer huge investment opportunities. The Shipping Ministry has also identified two marine clusters in Saurashtra, Gujarat and Ennore, Tamil Nadu for ship building, ship repair and recycling.
Similarly coastal steel clusters are planned in southern Maharashtra and northern Tamil Nadu. The development of 111 inland waterways also offers huge investment opportunities in the fields of dredging, fairway development and terminal construction, he added.
Secretary, Shipping, Rajive Kumar said the Maritime India Summit will be inaugurated by Prime Minister Narendra Modi on April 14 which will be followed by Investors Summit, panel discussions, B2B and G2B meetings. South Korea will be the partner country of the summit, which will be attended by delegates from 57 countries.
“The summit will showcase latest technologies, products and services as well as help disseminate knowledge about the latest development in maritime sector. It will provide a platform to interact closely with leading global maritime organisations to explore business opportunities and create awareness about opportunities in India” Mr. Kumar added.

Joe Root dazzles with 83 as England beat South Africa by two wickets

Right-hander Joe Root dazzled with a scintillating 83 as England got the better of South Africa by two wickets in a high-scoring Group 1 match in the Super 10 stage of the ICC World Twenty20 tournament at the Wankhede Stadium here tonight.
Put in to bat first, South Africa piled up an imposing 229 for four from their 20 overs, only to see England get past at 230 for eight with two balls to spare.
South African openers Hashim Amla and Quinton de Kock and J P Duminy hit half-centuries and had a field day after England skipper Eoin Morgan won the toss and asked them to make first use of the pitch.
Amla (58) and de Kock (52) put together the highest first-wicket partnership of 96 in this edition of the tournament so far. The pair and J P Duminy, who remained unbeaten on 54, destroyed the slog-over bowling, scoring 54 runs off 48 balls to set England a target of 230.
De Kock departed in the eighth over while Amla, who contributed 44 runs to the first wicket partnership, went on to score 58 runs with seven fours and three sixes.
A B de Villiers, who made 16 off eight balls with the help of two sixes, was caught behind by Morgan off spinner Adil Rashid in the ninth over. 
Skipper Francois Du Plessis struck 17 off an equal number of balls to take the total to 169 for four in 15.3 overs.
From then on, Duminy and David Miller made 36 runs for the fourth. Duminy's unbeaten 54 came off 28 balls while Miller made 28 off 12 deliveries. Duminy hit two fours and two sixes in his essay.
The English bowling proved highly expensive right from the start, with the openers bringing up the 50 of the innings off just 23 balls.
Left-arm medium pacer David Wiley picked up just a single wicket in his two overs in which he gave away 33-runs. The other pace bowler right-arm Chris Jordan did not pick up even a single wicket with his three overs going for 49 runs. Moeen Ali bagged two for 34 while Rashid got one for 35.
England started the run chase confidently, with their openers Jason Roy and Alex Hales putting on 48 in just two overs before the latter departed after making 17 off seven balls, inclusive of four fours.
Roy made 43 off 16 deliveries, including five fours and three sixes, before falling in the fifth over with the total at 71. Ben Stokes (15) made his exit in the sixth over to make it 87 for three.
That brought Root to the crease and he and Morgan (12) moved the total to 111 before the England skipper was bowled by Duminy in the tenth over.
Root and Jos Butler then added 75 runs for the fifth wicket before the latter departed after contributing 21. He was stumped by de Kock in the 16th over sent down by Imran Tahir.
Root fell in the 19th ovr, caught by David Miller off Kagiso Rabada with the total at 216.
Moeen Ali (8 not out) managed to steer England past the target in the last over.
For South Africa, Kyle Abbott picked up three for 41 and Rabada got two for 50, while Duminy and Tahir got one apiece.
South Africa 
H Amla lbw Ali 58
Q de Kock c Hales b Morgan 52
AB de Villiers c Morgan b Rashid 12
JP Duminy not out 54
D Millier not out 28
Extras (lb2, w,2) 4
Total (4 wickets;20 over) 229 (11.5 rpo)
Did not bat: C Morris, J Abott, D Steyn, K Rabada, I Tahir.
Fall of wickets: 1-96 (de Kock, 7.1 ov), 2-114 (de Villiers, 8.6 ov), 3-133 (Amla, 11.5 ov), 4-169 (du Plessis, 15.3 ov)
D Wiley 4 0 40 1
W Topley 2 0 33 0
M Ali 4 0 34 2
C Jordan 3 0 49 0 
B Stokes 2 0 23 0 
A Rashid 4 0 35 1
J Root 1 0 13 0
J Roy c de Kock b Abbott 43
A Hales lbw B Abbott 17
B Stokes c Morris b Rabada 15
J Root c Miller b Rabada 83
E Morgan b Duminy 12
J Butler st de Kock b I Tahir 21
M Ali not out 8
C Jordan c Duminy b Abbott 5
D Wiley run out de Villiers 0
A Rashid not out 0
Extras (lb6, w 20) 26
Total (8 wickets;19.4 ov) 230 (11.69 rpo)
Did not bat: A Topely
Fall of wickets: 1-48 (Hales, 2.3 ov), 2-71 (Roy 4.3 ov), 3-87(Stokes, 5.4 ov), 4-111 (Morgan, 9.4 ov), 5-186 (Butler, 15.4 ov), 6-219 (Root, 18.2 ov), 7-229 (Jordan, 19.1 ov), 8-229(Wiley, 19.2 ov)
K Rabada 4 0 50 2
D Steyn 2 0 35 0 
K Abbott 3.4 0 41 3
I Tahir 4 0 28 1
JP Duminy 3 0 31 0 
C Morris 3 0 39 0
Player of the Match: J E Root
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