Posts Tagged ‘Kolkata’

India’s Wealth Lies in Its Cities

It was once believed that India lives in its villages.

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Now it is clear that India’s wealth lies in its cities, or more specifically, Mumbai.

 

India's Wealth Lies in Its Cities

A study conducted by Delhi-based SMC Global classified companies geographically on the location of their registered offices.

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It reveals that Mumbai-registered companies account for 36.28% of the total BSE 500 market cap.

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Some of the prominent names based out of Mumbai are Reliance Industries, L&T, HDFC and SBI.

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Also, out of the market capitalisation ascribed to Maharashtra which has the highest market capitalization among the states — more than 90% originates from Mumbai.

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In fact, Mumbai and six other cities account for 85.71% of the total market capitalisation of BSE 500.

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With Delhi NCR (National Capital Region, which includes satellite cities such as Gurgaon and Noida along with the capital) contributing 27.82%.

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After the financial and political capitals, state capitals take the fore.

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Bangalore lays claim to 7.10%,

Hyderabad to 4.86% and Kolkata accounts for 3.83%,

while Ahmedabad and Chennai account for 3.35% and 2.47%, respectively.

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On a state-wide basis, five states in combination with Delhi NCR and Maharashtra account for 94.20% of the total market cap.

A total of 66.17% of the index’s market cap can be traced to Maharashtra and Delhi NCR.

While the latter accounts for 38.35%, Delhi accounts 27.82%.

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Karnataka accounts for 7.74%, Gujarat, 7.48%, Andhra Pradesh is at 4.95% and Tamil Nadu at 4.02%, while Bengal has 3.83%.

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Though the big Indian companies have a pan-India presence with factories or plants located across the country, they tend to have registered offices in metros.

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That is because of the ease of operations and presence of other corporate houses, suggested the study.

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“The traditional metro cities have accumulation advantage.

Its ultimately the money which brings in more money.

As the Indian economy keeps evolving, tier-2 and tier-3 cities may catchup gradually, to bring-in more equitable distribution of wealth across the country.”

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…said Jagannadham Thunuguntla, equity head at SMC Capitals.

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Mobile Number Portability Not Before Dec 31!

Mobile number portability not before Dec 31: DoT

The Government of India extended to December 31 implementation of mobile number portability, a facility allowing subscribers to retain their numbers even after changing service providers.

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However, the 100-day delay in the planned implementation of the MNP is credited to operators‘ inability to upgrade their network.

On top of that the delay on part of regulator TRAI to come out with tariff for the service.

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On the other hand, this required customization and upgradation of the existing network to be capable of providing the MNP service while certain technical and commercial issues related to it are also being resolved.

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Additionally, it is said that it requires considerable time and effort hence it has been decided by the Department of Telecom to extend the date of implementation of MNP in Metro Category A service areas to December 31, 2009 in the first phase.

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Moreover, it is said that the service is expected to be available by end of 2009 to begin with in Delhi, Mumbai, Kolkata, Maharashtra, Gujarat, Andhra Pradesh and Tamil Nadu.

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The Department of Telecommunications had issued guidelines for its implementation in the country in August last year.

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