HDFC Education and Development Services, a wholly owned subsidiary of Housing Development Finance Corporation Ltd (HDFC), will launch its schools from academic year 2014.
The company, which was formed last November, may begin operations with its first school in the national capital region (NCR).
“We plan to begin operations from the academic year 2014. We are looking at locations in the NCR. We plan to provide affordable education and have a long-term plan,” said a senior HDFC official.
HDFC’s education arm is currently exploring both the options — owning and managing schools. Last year, the HDFC board had cleared the foray into HDFC Educational and Development Services with an investment of Rs 100 crore.
“We plan to own schools, but land is a big cost. So, considering the same, we may look at managing schools wherever we cannot have our own schools,” the official added.
HDFC is in talks with real estate developers, who already work with the bank for its housing loan arm to provide HDFC with infrastructure available to set up schools. The company plans to target the middle-class and is also in talks with defunct schools to take them over.
Read more: Business Standard
Rapid MetroRail Gurgaon lets sponsors Vodafone, Micromax add their names to stations
Come 2013, you may be able to alight from a metro train in Gurgaon at a station called Vodafone, which could be the world’s first tube station named after a corporate sponsor.
India’s first private metro rail service, the Rapid MetroRail Gurgaon has signed five-year agreements with telecom service provider Vodafone and domestic handset maker Micromax to brand two of the stations on the loop line that is being built as a feeder service to the Delhi Metro. The line will connect the Delhi Metro to Gurgaon’s DLF Cyber City, which is home to several infotech firms, call centres and multinational corporations.
As per the agreement, the advertiser can recreate a portion of the station in its own brand’s colour scheme, theme and add the name of the company in the station name. The two stations that have been contracted already will, therefore, be called Vodafone at Belvedere Towers and Micromax at Moulsari Avenue, said Sanjiv Rai, managing director of Rapid MetroRail Gurgaon (RMGL). “We will allow them to be creative at the station without taking away its personality.”
There are six stations on the line that will get operational by April 2013.
RMGL is in talks with a financial institution and a few consumer product companies for branding the rest of the stations as well. The largest of these four is the Sikandarpur station, which will be aligned with the Delhi Metro’s Yellow Line and from where the line will extend seven kilometres to Gurgaon’s Golf Course Road.
Read more: The Economic Times
Mark to Market | Bank credit to infrastructure picks up
While the overall bank credit data points to a slowdown, granular numbers suggest the bottom might have been reached in some sectors. In the second quarter of this fiscal, non-food credit growth was flat, compared with 2.4% in June-September 2011. The slowdown is widespread and cuts across all sectors, but some have held up, rather unexpectedly.
Credit growth to industry has slowed to 0.3% in the September quarter, compared with 4.5% in the year-ago period. Larger firms are doing much better. While micro, small and medium industry has actually seen credit outstanding in the second quarter shrink, large industry has seen credit grow by 0.8%.
What’s really interesting in this set of data is that loans to infrastructure firms are showing some signs of traction. Indeed, infrastructure, construction and cement are three of the five categories within industry (the others being textiles and chemicals) that saw an increase in the pace of loan growth. While loans to cement firms grew 7.8% during the quarter, compared with 6.9% a year ago, infrastructure loans grew 3.9% versus 2.2% a year ago. Within infrastructure, loans to the power sector grew at a startling 10.7%, compared with 2.9% a year ago.
Read more: Mint
Online job demand rises in October
Online hiring activity in India improved further in October driven by recruitments in sectors such as engineering, automotive and telecom, according to a survey.
The Monster.com’s employment index, a monthly gauge of the country’s online job demand, rose by 3 points (up 2.27 per cent) to 135 in October from 132 in September.
This is the second consecutive month of improvement in online hiring activity as the month of September had witnessed an increase of six points from 126 points in August.
On an year-on-year basis, the index level has risen by 13 per cent from 119 points recorded in October 2011, jobs portal Monster.com said.
“The double digit gains in the Monster Employment Index reflect the confidence of Indian businesses in the current economy,” Sanjay Modi, Managing Director (India/Middle East/ South East Asia), Monster.com said.
A sectoral analysis showed that hiring activity witnessed good growth in areas including BPO/ITeS, engineering, automotive, telecom, oil and gas, healthcare, travel, media and real estate.
Read more: Business Line
India gold demand rises 9% in Q3: WGC
Global gold demand dropped 11 percent in the three months to September from record levels seen in the same period last year, dampened mainly by fading Chinese fervour as its economy slowed, with stronger Indian demand stemming a larger fall, the World Gold Council (WGC) said.
Chinese gold consumption fell 8 percent in the July to September period to 176.8 tonnes, the WGC’s quarterly demand trends report showed on Thursday, with both jewellery and investment demand hurt by a slowing economic growth.
Data last month showed China’s economy slowed for a seventh straight quarter in the July to September period. Chinese bar and coin investment dropped 12 percent to 53 tonnes, while jewellery buying fell 5 percent to 123.8 tonnes.
Read more: The Indian Express