Wednesday, August 20, 2008
NSE to start live trading in currency futures
THE National Stock Exchange (NSE) has announced the launch of trading in currency futures from August 29. For the first time in India, it would be now possible to trade on the currency futures on a stock exchange platform. Currency futures are standardised foreign exchange contracts traded on a recognised stock exchange to buy or sell one currency against another on a specified future data, at a price specified on the purchase or sale data. Currently, RBI has approved only USD-INR currency futures to be traded on the approved exchanges. The size of the contract would be $1,000 and the contracts would expire on the last business day of any month at 12 noon. The contracts will be quoted and settled in rupees and the settlement price of the contract would be RBI's reference rate on the last trading day. This is expected to benefit participants such as corporates and individual investors, and also banks that are allowed to become members of this segment. However, at the moment foreign institutional investors (FIIs) and non-resident Indians (NRIs) would not be permitted to trade on the segment. The NSE is the first exchange to have received an inprinciple approval from Sebi to set up a currency futures segment. All trades done on the exchange would be cleared, settled and risk-managed by National Securities Clearing Corporation (NSCCL), which is set up as a separate and independent entity. In India, there is an active OTC market for forwards with an average daily turnover of $34 billion. World over, exchange-traded currency derivatives are also available and around 334 million contracts get traded annually.
Core projects
"Education is the most important element for growth and prosperity of a nation. India is in the process of transforming itself into a developed nation by 2020. Yet CORE has have 350 million people who need literacy and many more who have to acquire employable skills to suit the emerging modern India and the globe. "- Dr. APJ Abdul Kalam
CPTL is well positioned in the IT-Education spaceCPTL is a IT Product and services solution provider, mainly focused on education,logistics and ERP verticals, having presence in US, UK, Africa, Middle-East andIndia. CPTL has acquired 6 companies which have a presence in the ITEducationspace. Its subsidiaries like KCMG, Aarman, Emacs and ECS offerssuperior value to its entire business space. CPTL has good positioning inschool management system, accountability systems, assessment systemsand IT infrastructure systems which is considered to be a backbone to alleducation operations like data management systems and data analytical andreporting systems. The only segment in education space where currently CPTLdoesn't have presence is curriculum management which is considered to be apremium segment in education space. But CPTL is likely to fill up this businesssegment through tie ups or inorganic route in near future.Education presents a huge market opportunity in IndiaIndian economy has been growing at accelerated rate of 8-9% over past fewyears. The Indian government is taking steps to ensure that there is a sustainablewidespread economic growth that is inclusive in the future. This requires largeinvestment in education and also ensuring a uniform high-quality of education.This year, the Union Budget's allocation for school education went up 35% fromRs 171.3bn to Rs 231.4bn. It also announced that it intends to appoint 200,000more teachers and construct 500,000 more class rooms. This will increasefunds flowing into IT deployment in schools. The government is also targettingto raise the public spending on education from 3.7% of GDP to 6% of GDP in aphased manner. This clearly represents a huge growing market pie. 1)The company is expected to set up 40 IGNOU centers by FY09 and another 100 by FY10.It also plans to set up another 100 IGNOU centers every year for next 5 years.Core projects is expected to earn Rs 3 crore as one-time income for installation per centre and Rs 2.8 crore per year per centre as recurring income depending on the usage per hour.The development should catapult core projects into a unique league post 2009.
2)Real estate plays had a dream run post 2005 and players like unitech and several others made fortune for lot of people.At that point of time we had few listed scrips and that fuelled the rally.At some point of time i expect the same to happen in these educational plays.Hardly 4-5 companies available with stunning growth prospects.Core projects is one of the great plays which i feel everyone should opt in their core portfolio.
3)The company has also tied-up with IL&FS–ETS to offer comprehensive IT solutions in the education programmes under space.The JV is targeted at state governments that are initiating various education SSA.The JV expects to earn approximately Rs 1,000 per year/child as a typical state has about 8 million students.Hence, the project could result in potential revenue of Rs 800 crore each year for the next 5 years.The JV could earn a fat 120crs revenue per year.
4)IT spend in the education sector is expected to increase to US $62 billion by 2010. An end-to-end solution provider with three recent acquisitions,The company is becoming a major player in the global IT education space.The company currently has more than 30 products in the education space with clients in the US, UK, Africa and Nigeria.
Conclusion:-The company is expected to become a 1000crs company these year with NP expected to be around 165crs.Core projects is moving up the value chain from a pure IT player to an ITeducation-infrastructure company.Core projects is quoting at less than 10 times its fy09 earnings.The company is all set to get rerated in the bourses.I expect the counter to outperform markets in a major way. · During the financial year 2007-08, CORE has set about consolidating and strengthening their foundation in the endeavor to emerge as the most formidable player in the Global Education space. · Today, Core Projects and Technologies has a resource base of more than 650 people across 5 countries with offices spread across the globe in India, US, UK, UAE and Africa.· During the year, the Company reported Net Sales of Rs. 4,459 million , a growth of 130% over the previous year. The Net Profit too witnessed a growth of 153% at Rs. 845 million. · The Education space, in line with their strategy holds the centre stage in terms of year on year growth and its contribution to their topline. For the year under review, it represents 62% of the total revenue-pie. · The US and the UK markets have thus far been their key markets, where CORE has established significant presence over the year. It is a matter of pride that CORE has associated with various state governments and central governments across regions.· The thrust on education in these developed nations remains high priority. The key focus areas of the education policy there, encompasses raising the bar for the coursework to make it more advanced, encouraging teachers to enhance the performance of the underperforming schools and providing financial assistance to parents regarding the educational needs of their children. · Core Projects and Technologies has emerged as a global service provider in this space, equipped with a robust product portfolio, which offers end-to-end solutions across the Education Chain. This includes the following key areas - Assessment and Achievement, Accountability, Grants and Financial, Maintenance and Operations, Safety Student Information/Child Tracking, Communication, Professional Development and Consulting, Curriculum. Examination Management System and Teacher's Training are two of their key activities and CORE has see tremendous scope for these in India. · Their strategy is two pronged in these markets. One is grow organically by client additions by understanding the needs of the markets in which CORE has are operating and provide optimal solutions. The second is the inorganic route to growth. Their Company has a track record of successful acquisitions, and more importantly, the ability to integrate the same into their business. This year too, CORE has made significant inroads into the international markets by acquiring companies in UK and USA.· CORE has now seek to leverage their successful overseas model to expand their foothold in the domestic market. CORE is in active dialogue with approximately 9-10 states. CORE has believe their partnerships with IL&FS, IBM, CHL & IGNOU will provide significant momentum to their efforts in India. · India's flagship education programme, Sarva Shiksha Abhiyan has been provided Rs.131, 000 million in the Union Budget 2008-09. The focus is now shifting from access and infrastructure at the primary level to enhancing retention and improving quality of learning. The Secondary Education segment has been allocated Rs.45,540 million and the Union Budget has also announced a Model School programme, with the aim of establishing 6,000 high quality model schools with a proposed allocation of Rs. 6,500 million for the new scheme. · CORE has believe that- their experience in the international markets fortified by a product portfolio catering to the entire gamut of education domain has laid a strong foundation for their domestic growth prospects. The Public Private 'artnership (PPP) is a mix of qualitative and quantitative resources resulting into public and private players assuming different roles of varying dimensions resulting in numerous Models of PPP. CORE has, at Core Projects strongly endorse this theory. It is their constant endeavor to partner with the Government using innovative models and spread their wings across the education segment. · Another major growth driver for us going forward will be their tie up with NASA's Center of Higher Learning, USA, (CHL). They will work exclusively with Core Projects and Technologies in the Asia Pacific region and train a large group of their Engineers in the latest technologies related to Immersive Visualisation. · Their Company has also signed a MOU with Indira Gandhi National Open University (IGNOU) for setting up Visualization· Learning Centres at all IGNOU centres in India. This project will mark the beginning of a new era in instructional technology and significantly improve the efficacy of learning materials. Resultantly, it will raise the quality of education across the board. This unique initiative by the Company is a significant landmark as it highlights their commitment to set global standards in the education space in India.· The ERP and Logistics/ITES, segments provided stable growth during the year led by new client additions, geographical expansion and the launch of new products. They now represent 38% of the total revenue pie.
clients CORE has managed successful projects in the following locations:·
United States of America –· Georgia · Michigan · North Carolina · Maine · Illinois · Oklahoma · California · Minnesota · South Carolina · Tennessee · Texas · Massachusetts · Ohio · CECAS: North Carolina Department of Public Instruction · MEDMS: Maine Department of Education · Chicago Public Schools · Bright from the Start: Georgia Department of Early Care & Learning · Trussville City Schools · Metropolitan School District of Warren Township · United Kingdom – · Royal Institute of Public Health · Royal College of Surgeons · Royal College of Physicians · University of London · British Red Cross · Fire Services Exam Board · Royal Air Force Benevolent Fund (NFP) · Allied Irish Bank · AXA Guardian Insurance · Barclays Bank · Birmingham City Council · Bradford & Bingley · Department of Health (DoH) · Department of Trade and Industry (DTI) · European Commission · Fleming Premier Bank · Foreign & Commonwealth Office · Home Office · Hull City Council · Kent County Council · London Borough of Havering · London Underground · Metronet Rail · Metropolitan Police · Ministry of Defence (MoD) · National Health Service (NHS) · NHS Logistics Authority · National Offenders Management Service (NOMS) · National Policing Improvement Agency (NPIA) · National Probation Directorate · Nottingham City Council · Office of Government Commerce (OGC) · Preston City Council · Royal Bank of Scotland · Royal College of Nursing · Scottish Fisheries Protection Agency · Scottish Natural Heritage · Scottish Executive · Tube Lines · West Yorkshire Police · India –· State of Jharkhand
Others·
Department of Examinations, Sri Lanka · Ministry of Education, Zambia · Ministry of Education, Rwanda · Ministry of Education, Ghana · Ministry of Education, Uganda · Ministry of Education, Ethiopia · Ministry of Education, Kenya · Ministry of Education, Mozambique · Ministry of Education, Lesotho · Ministry of Education, Bahamas · Ministry of Education, Cayman Islands · Ministry of Education, Jamaica · Ministry of Education, Caribbean Council Clients - Logistics· Reliance Industries Limited, India · Balmer Lawrie & Co. Ltd., India · Benediction, India · Bafna Motors, India · Bafna Consultancy Services (P) Ltd., India Clients - ERP· Applied Materials · Verizon · Cascade Communications · Windriver Technologies · Sony · Indira Gandhi Open University (IGNOU)
Source: Newsletter
CPTL is well positioned in the IT-Education spaceCPTL is a IT Product and services solution provider, mainly focused on education,logistics and ERP verticals, having presence in US, UK, Africa, Middle-East andIndia. CPTL has acquired 6 companies which have a presence in the ITEducationspace. Its subsidiaries like KCMG, Aarman, Emacs and ECS offerssuperior value to its entire business space. CPTL has good positioning inschool management system, accountability systems, assessment systemsand IT infrastructure systems which is considered to be a backbone to alleducation operations like data management systems and data analytical andreporting systems. The only segment in education space where currently CPTLdoesn't have presence is curriculum management which is considered to be apremium segment in education space. But CPTL is likely to fill up this businesssegment through tie ups or inorganic route in near future.Education presents a huge market opportunity in IndiaIndian economy has been growing at accelerated rate of 8-9% over past fewyears. The Indian government is taking steps to ensure that there is a sustainablewidespread economic growth that is inclusive in the future. This requires largeinvestment in education and also ensuring a uniform high-quality of education.This year, the Union Budget's allocation for school education went up 35% fromRs 171.3bn to Rs 231.4bn. It also announced that it intends to appoint 200,000more teachers and construct 500,000 more class rooms. This will increasefunds flowing into IT deployment in schools. The government is also targettingto raise the public spending on education from 3.7% of GDP to 6% of GDP in aphased manner. This clearly represents a huge growing market pie. 1)The company is expected to set up 40 IGNOU centers by FY09 and another 100 by FY10.It also plans to set up another 100 IGNOU centers every year for next 5 years.Core projects is expected to earn Rs 3 crore as one-time income for installation per centre and Rs 2.8 crore per year per centre as recurring income depending on the usage per hour.The development should catapult core projects into a unique league post 2009.
2)Real estate plays had a dream run post 2005 and players like unitech and several others made fortune for lot of people.At that point of time we had few listed scrips and that fuelled the rally.At some point of time i expect the same to happen in these educational plays.Hardly 4-5 companies available with stunning growth prospects.Core projects is one of the great plays which i feel everyone should opt in their core portfolio.
3)The company has also tied-up with IL&FS–ETS to offer comprehensive IT solutions in the education programmes under space.The JV is targeted at state governments that are initiating various education SSA.The JV expects to earn approximately Rs 1,000 per year/child as a typical state has about 8 million students.Hence, the project could result in potential revenue of Rs 800 crore each year for the next 5 years.The JV could earn a fat 120crs revenue per year.
4)IT spend in the education sector is expected to increase to US $62 billion by 2010. An end-to-end solution provider with three recent acquisitions,The company is becoming a major player in the global IT education space.The company currently has more than 30 products in the education space with clients in the US, UK, Africa and Nigeria.
Conclusion:-The company is expected to become a 1000crs company these year with NP expected to be around 165crs.Core projects is moving up the value chain from a pure IT player to an ITeducation-infrastructure company.Core projects is quoting at less than 10 times its fy09 earnings.The company is all set to get rerated in the bourses.I expect the counter to outperform markets in a major way. · During the financial year 2007-08, CORE has set about consolidating and strengthening their foundation in the endeavor to emerge as the most formidable player in the Global Education space. · Today, Core Projects and Technologies has a resource base of more than 650 people across 5 countries with offices spread across the globe in India, US, UK, UAE and Africa.· During the year, the Company reported Net Sales of Rs. 4,459 million , a growth of 130% over the previous year. The Net Profit too witnessed a growth of 153% at Rs. 845 million. · The Education space, in line with their strategy holds the centre stage in terms of year on year growth and its contribution to their topline. For the year under review, it represents 62% of the total revenue-pie. · The US and the UK markets have thus far been their key markets, where CORE has established significant presence over the year. It is a matter of pride that CORE has associated with various state governments and central governments across regions.· The thrust on education in these developed nations remains high priority. The key focus areas of the education policy there, encompasses raising the bar for the coursework to make it more advanced, encouraging teachers to enhance the performance of the underperforming schools and providing financial assistance to parents regarding the educational needs of their children. · Core Projects and Technologies has emerged as a global service provider in this space, equipped with a robust product portfolio, which offers end-to-end solutions across the Education Chain. This includes the following key areas - Assessment and Achievement, Accountability, Grants and Financial, Maintenance and Operations, Safety Student Information/Child Tracking, Communication, Professional Development and Consulting, Curriculum. Examination Management System and Teacher's Training are two of their key activities and CORE has see tremendous scope for these in India. · Their strategy is two pronged in these markets. One is grow organically by client additions by understanding the needs of the markets in which CORE has are operating and provide optimal solutions. The second is the inorganic route to growth. Their Company has a track record of successful acquisitions, and more importantly, the ability to integrate the same into their business. This year too, CORE has made significant inroads into the international markets by acquiring companies in UK and USA.· CORE has now seek to leverage their successful overseas model to expand their foothold in the domestic market. CORE is in active dialogue with approximately 9-10 states. CORE has believe their partnerships with IL&FS, IBM, CHL & IGNOU will provide significant momentum to their efforts in India. · India's flagship education programme, Sarva Shiksha Abhiyan has been provided Rs.131, 000 million in the Union Budget 2008-09. The focus is now shifting from access and infrastructure at the primary level to enhancing retention and improving quality of learning. The Secondary Education segment has been allocated Rs.45,540 million and the Union Budget has also announced a Model School programme, with the aim of establishing 6,000 high quality model schools with a proposed allocation of Rs. 6,500 million for the new scheme. · CORE has believe that- their experience in the international markets fortified by a product portfolio catering to the entire gamut of education domain has laid a strong foundation for their domestic growth prospects. The Public Private 'artnership (PPP) is a mix of qualitative and quantitative resources resulting into public and private players assuming different roles of varying dimensions resulting in numerous Models of PPP. CORE has, at Core Projects strongly endorse this theory. It is their constant endeavor to partner with the Government using innovative models and spread their wings across the education segment. · Another major growth driver for us going forward will be their tie up with NASA's Center of Higher Learning, USA, (CHL). They will work exclusively with Core Projects and Technologies in the Asia Pacific region and train a large group of their Engineers in the latest technologies related to Immersive Visualisation. · Their Company has also signed a MOU with Indira Gandhi National Open University (IGNOU) for setting up Visualization· Learning Centres at all IGNOU centres in India. This project will mark the beginning of a new era in instructional technology and significantly improve the efficacy of learning materials. Resultantly, it will raise the quality of education across the board. This unique initiative by the Company is a significant landmark as it highlights their commitment to set global standards in the education space in India.· The ERP and Logistics/ITES, segments provided stable growth during the year led by new client additions, geographical expansion and the launch of new products. They now represent 38% of the total revenue pie.
clients CORE has managed successful projects in the following locations:·
United States of America –· Georgia · Michigan · North Carolina · Maine · Illinois · Oklahoma · California · Minnesota · South Carolina · Tennessee · Texas · Massachusetts · Ohio · CECAS: North Carolina Department of Public Instruction · MEDMS: Maine Department of Education · Chicago Public Schools · Bright from the Start: Georgia Department of Early Care & Learning · Trussville City Schools · Metropolitan School District of Warren Township · United Kingdom – · Royal Institute of Public Health · Royal College of Surgeons · Royal College of Physicians · University of London · British Red Cross · Fire Services Exam Board · Royal Air Force Benevolent Fund (NFP) · Allied Irish Bank · AXA Guardian Insurance · Barclays Bank · Birmingham City Council · Bradford & Bingley · Department of Health (DoH) · Department of Trade and Industry (DTI) · European Commission · Fleming Premier Bank · Foreign & Commonwealth Office · Home Office · Hull City Council · Kent County Council · London Borough of Havering · London Underground · Metronet Rail · Metropolitan Police · Ministry of Defence (MoD) · National Health Service (NHS) · NHS Logistics Authority · National Offenders Management Service (NOMS) · National Policing Improvement Agency (NPIA) · National Probation Directorate · Nottingham City Council · Office of Government Commerce (OGC) · Preston City Council · Royal Bank of Scotland · Royal College of Nursing · Scottish Fisheries Protection Agency · Scottish Natural Heritage · Scottish Executive · Tube Lines · West Yorkshire Police · India –· State of Jharkhand
Others·
Department of Examinations, Sri Lanka · Ministry of Education, Zambia · Ministry of Education, Rwanda · Ministry of Education, Ghana · Ministry of Education, Uganda · Ministry of Education, Ethiopia · Ministry of Education, Kenya · Ministry of Education, Mozambique · Ministry of Education, Lesotho · Ministry of Education, Bahamas · Ministry of Education, Cayman Islands · Ministry of Education, Jamaica · Ministry of Education, Caribbean Council Clients - Logistics· Reliance Industries Limited, India · Balmer Lawrie & Co. Ltd., India · Benediction, India · Bafna Motors, India · Bafna Consultancy Services (P) Ltd., India Clients - ERP· Applied Materials · Verizon · Cascade Communications · Windriver Technologies · Sony · Indira Gandhi Open University (IGNOU)
Source: Newsletter
Subscribe to:
Posts (Atom)
