HCL Tech announces Rs.3,500cr share buyback @ 17 % premium

Country’s fourth largest software services firm HCL Technologies today said it will buy back shares at Rs. 1,000 apiece, a 17 percent premium over current trading price.

The company is proposing an offer for buyback of equity shares for cash at a price of Rs 1,000 per equity shares on a proportionate basis through tender offer process, HCL Technologies said in a regulatory filing.

Tata Power’s renewable energy capacity crosses 2,000 Mw mark

Tata Power’s renewable energy capacity crosses 2,000 Mw mark

Tata Power …..

On Tuesday said that its renewable business registered a healthy profit. While surpassing the 2,000 MW operating capacity mark with about 500 MW under construction.

In keeping with its commitment to generate 30 per cent to 40 per cent power by 2025 through renewable sources of energy, the company added 1,350 MW of renewable capacity during the year, Tata Power said in a statement.
“We are happy to announce that Tata Power has registered a strong growth in renewables, which is one of our key focus areas through our recent acquisition of solar assets. The renewable energy business made a healthy contribution to PAT this year and we continue to be the largest renewable player in the country……..!” Tata Power CEO and MD Anil Sardana said.

The company aims to pursue a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation thus increasing the share of non-fossil fuel based generation output to 30-40 per cent by 2025, he said.

Tata Power’s non-fossil fuel based green generation portfolio (comprising of hydro, waste gas, solar & wind) crossed the 3,000-mark to stand at 3,141 MW.

During 2016-17, Tata Power’s renewable arm Tata Power Renewable Energy Limited completed the acquisition of WREPL, which had 1,140 MW of renewable power projects.

On the international front, Tata Power’s South African joint venture company, Cennergi, started commercial operations of both its wind farms totalling 230 MW, making its India’s truly international power company.

The company will continue to work towards ensuring its renewable business that remains the largest renewable in the country……..!

Mum Shares Moment She Saved Daughter From Choking To Help Other Parents

Mum Shares Moment She Saved Daughter From Choking To Help Other Parents

The moment a mother rescued her daughter from choking on a veggie chip was caught on camera.

Jennifer Hull’s One-Year-Old Hollis had been snacking on the chips while playing in the dollhouse with her three-year-old sister.

However Hollis got one wedged in her throat and was caught on camera running into the room gasping for air.

Hull immediately checked what was going on then held her daughter up and performed the Heimlich manoeuvre to remove the veggie chip.

It came out within seconds.

“I immediately jumped into mummy mode when it happened.”

“It was very scary.”

The mother said she decided to share the footage as a stark reminder to all parents. She credited the infant safety classes she took during her pregnancy that taught her how to properly perform the manoeuvre.

“We sat through every class that our hospital gave,” she added. “It’s the least that you can do if you’re going to bring a baby into the world.

“I just wish I had got to [Hollis] sooner.”

“According to a survey by St John’s Ambulance at the time, while 40% of parents have found themselves in this awful situation, only four-fifths knew how to react.Lifestyle……!”


RBS investor case adjourned for last-minute settlement talks

RBS investor case adjourned for last-minute settlement talks

Royal Bank of Scotland (RBS)……  Pursued last-minute settlement talks with a group of investors on Monday to avoid a potentially embarrassing trial over allegations the lender misled them about a 2008 capital increase.

A successful settlement would save former RBS Chief Executive Fred Goodwin from facing scrutiny in the courts over his decision-making and leadership at the time the lender almost collapsed.

RBS has doubled its offer to the remaining claimants as it seeks to settle the case, two people close to the matter told Reuters on Monday…….!

The civil trial brought by thousands of RBS investors was due to open at the High Court in London on Monday but was adjourned for a day to allow the settlement talks to continue.

“The plaintiffs allege former executives gave a misleading picture of the bank’s financial health ahead of a 12 billion pound ($15.5 billion) cash call in 2008. Months after the cash call, RBS had to be rescued by the government with a 45.8 billion pound bailout.”

RBS….. which remains more than 70 percent state-owned, denies any wrongdoing over the 2008 rights issue and says its former bosses did not act illegally.

Jonathan Nash. “A lawyer representing the claimants appealed to the court for an adjournment saying the two parties were in settlement talks and wanted longer to strike a deal.”

“We are involved in settlement discussions and we are hopeful of making progress……..!” Nash said.

The sources said RBS Chief Executive Ross McEwan was directly involved in talks over the weekend and that the bank had offered more than 80 pence for each RBS share held, though it was not clear if any investors have accepted the offer.

A settlement at that price would cost RBS “in the tens of millions of pounds”. A third source familiar with the matter said……….!

The bank has settled with 87 percent of the investors who originally brought the case but the others have so far rejected its offers and say they were determined to go to court……!

Mumbai Indians chase record third IPL crown

Mumbai Indians chase record third IPL crown

Mumbai Indians……!

Mumbai Indians will play another IPL final. In fact, their third in five years and fourth overall. They already have the most match wins in the competition’s history (90) but if that’s no metric to settle the team-of-the-decade debate, will an unprecedented third title do? They didn’t wade through the league phase as much as sashayed past it, taking down teams with ridiculous efficiency. They were penciled in for the final mid-way through the tournament and did wonderfully well to get there. Except, they joined the Hyderabad party a little belatedly as opposed to the more commonly anticipated narrative of them getting in early and welcoming their opponents.

“Rising Pune Supergiant’s story is known. A new captain, a sense of hurt from last year and a desire for redemption. Their equation with their neighbors is also little-brotherly, what with the splurging of the millions and a craving for the flavor of the season (Ben Stokes). But, unlike their Sunday opponents, they’ve often traded flair for discipline – a quality that has helped them trip Mumbai up thrice this season.”

Yet none of those games had a comparable context. Mumbai hadn’t kicked into gear when Smith sucker-punched them in a chase. “Rohit Sharma” couldn’t quite return the favor in the reverse fixture, as Mumbai’s six-game winning streak ended with a three-run defeat at the Wankhede stadium. Then in the first qualifier, Mumbai’s surface changed nature and Pune adapted quicker to sneak in another blow.

What those contests have established is that Pune bowl well, particularly against Mumbai, against whom they’ve taken 25 wickets and conceded only two half-centuries in these three games. Jaydev Unadkat (22 wickets at an economy of 7.24) has been their unlikely bowling hero of the season. He will once again be key to their chances in the final and will have particularly happy memories to tap into in Hyderabad, having taken a five-fer (including a hat-trick) on his last visit. He will, however, need all the support he can get from Shardul Thakur, Washington Sundar & Co. if Pune are to rein in Mumbai again.

They won’t bat as deep as Mumbai do, so “Rahul Tripathi”, “Ajinkya Rahane” and Smith will need to shore up the top-order, leaving “MS Dhoni” with as little rebuilding work to do as possible. Mumbai know all about this collective ingenuity. It’s a rare virtue in “T20” cricket – but one that has been the hallmark of their 2017 season…..!

GM to stop making cars for Indian market

GM(General Motors)to stop making cars for Indian market

General Motors (GM) has announced that it will stop making cars for the Indian market by the end of 2017.

The firm, which sells its Chevrolet brand in India, said it would continue to provide maintenance services.

It also said that its plant in Maharashtra would continue to make cars for overseas markets, mainly central and south American regions.

GM has announced similar plans for South and East African markets as part of its global business restructuring.

The US carmaker said it would stop selling cars in South Africa, and sell its manufacturing business there to Isuzu Motors.

It added that Isuzu would also purchase 57.7% shareholding in its East Africa operations, assuming management control.

The firm is aiming to make significant savings through these steps.

“As a result of these actions, GM expects to realise annual savings of approximately $100m (£77m) and plans to take a charge of approximately $500m in the second quarter of 2017,” it said in a statement.

(“GM’s announcement comes against the backdrop of predictions that India will become the world’s third biggest vehicle market by 2020….!”)

But the firm has put faith in exports from India.

“GM had planned to invest $1bn in India to boost its domestic presence, but its sales figures fell below below 1% in the year ended in March 2017.”

“We determined that the increased investment required for an extensive and flexible product portfolio……..! Would not deliver a leadership position or long-term profitability in the domestic market,” Mr Jacoby added.

Museum of Science Leader: Engineering Key to Innovation

Museum of Science Leader: Engineering Key to Innovation

Ioannis Miaoulis……..!

The president and director of Boston’s Museum of Science, has dedicated his life to educating the Under his leadership, the museum boasts hundreds of interactive programs and exhibits on everything from dinosaurs to the moon, and brings in more than 1.5 million visitors annually.

Originally from Greece, Miaoulis earned three degrees from  in Massachusetts: his bachelor’s and Ph.D. in mechanical engineering (in 1983 and 1987, respectively), and his master’s in economics (1986). He also earned a master’s in mechanical engineering from MIT in 1984.

He then held several roles at Tufts, including dean of the School of Engineering, associate provost, engineering professor and interim dean of the Graduate School of Arts and Sciences. In 2003, he joined the Museum of Science as president and director.

Since then, the Museum of Science has grown as a leader among science museums and educational institutions. In 2004, Miaoulis led the creation of the museum’s National Center for Technological Literacy, which promotes engineering and technology through hands-on learning and an emphasis on creation. In 2015, the NCTL received the National Science Board’s Public Service Award.

Miaoulis has served on the NASA Advisory Council, the National Museum and Library Services Board and former Massachusetts Gov. Deval Patrick’s STEM Advisory Council, among others. He sits on the board of directors of both Tufts University and the Center for the Advancement of Science in Space, the organization that manages the International Space Station U.S. National Laboratory.