BSE plans to acquire a controlling stake in CAMS for 650 crores as it seeks to diversify and enhance returns from its core business. Reckitt Benckiser has issued a legal notice to BhartiWalmart over the bottle design and cap of its Great Value toilet cleaner brand. The US state of Ohio has banned outsourcing of IT projects by government departments to offshore locations such as India. Six of the top ten largest selling whisky brands in the world belong to India. Top Indian mutual fund houses plan to open overseas offices in the UK, US, Singapore, Japan and Gulf countries to sell their products abroad. The government has set up a 5-member panel to choose the successor of SEBI chief

1. Weekly news Submitted by Ankush Gupta MBA2A

2. BSE may take reins at CAMS for 650 cr. BSE India’s oldest bourse plans to buy a controlling stake in investors services company Computer Age Management Services. CAMS has more than half the market share in servicing mutual fund clients. BSE with a net worth of Rs 1900 cr. is seeking to enhance returns as it finds little room for expansion in its core business.

3. Reckitt-BhartiWalmart brand battle on Reckitt Benckiser India has served a legal notice on BhartiWalmart demanding that the cash and carry joint company withdraw its Great Value toilet cleaner as it infringes the bottle design and cap. Great Value is Walmart’s top selling umbrella brand with estimated global annual sales close to $11 bn.

4. Ohio bars govt. depts from IT outsourcing The US state of Ohio has banned outsourcing of IT and back office projects by government departments to offshore locations such as India. Many states are ready to give tax breaks worth millions of $ if a TCS or Wipro makes commitment about hiring local staff.

5. Largest selling spirit brands In a magazine’s survey it is found that 6 brands out of the 10 largest selling whiskies of the world, belongs to India. Leading is the Jinro from South Korea with 63 million cases worldwide. Bagpiper(USL), McDowell No.1(USL), Officer’s Choice(ABD), etc. are the main Indian Brands.

6. MFs look to connect with investors abroad Top AMC such as Rel MF, ICICI Pru, Birla SunLife, HDFC and UTI plans overseas offices. They have plans to open offices in the UK, the US, Singapore, Japan and the Gulf. Most fund houses are selling their products offshore through foreign distributors by paying huge commissions.

7. Govt. begins search for the next SEBI chief Mandates 5 member panel to choose C B Bhave’s successor as his term ends in third week of Feb. 2011. Mr. Bhave has informally indicated to the govt. that he was not interested in securing another term as SEBI chief. It is quite likely that professinals from both state owned and private firms will submit their applications for the same.