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Sunday, September 30, 2018



1 Bulls Make Money, Bears Make Money, Pigs Get Slaughtered

 2 It’s OK to Pay the Taxes

 3 Don’t Buy All at Once
 4 Buy Damaged Stocks, Not Damaged Companies
 5 Diversify to Control Risk
6 Do Your Stock Homework
 7 No One Made a Dime by Panicking
 8 Buy Best-of-Breed Companies
9 Defend Some Stocks, Not All
10 Bad Buys Won’t Become Takeovers
 11 Don’t Own Too Many Stocks
12 Cash is for Winners
13 No Woulda, Shoulda, Couldas
14 Expect, Don’t Fear Corrections
15 Don’t Forget About Bonds

16 Never Subsidize Losers With Winners
 17 Check Hope at the Door
 18 Be Flexible
 19 When the Chiefs Retreat, So Should You
 20 Giving Up on Value is a Sin

 21 Be a TV Critic
 22 Wait 30 Days After Warnings
 23 Beware the Wall Street Hype
 24 Explain Your Picks
 25 There’s Always a Bull Market


Jim Cramer is one of America’s most recognized and respected investment pros and media personalities. He runs Action Alerts PLUS. In 1996, Jim founded TheStreet, one the leading financial media websites for individual to institutional investors. Jim also writes daily market commentary for TheStreet’s Real Money premium service, and participates in video segments on TheStreet TV. 

He also serves as host of CNBC’s “Mad Money” and co-host of CNBC’s “Squawk on the Street”. The author of Confessions of a Street Addict, You Got Screwed, Jim Cramer’s Real Money, Jim Cramer’s Mad Money, Jim Cramer’s Stay Mad for Life and Jim Cramer’s Getting Back to Even. Jim has also written for Time magazine and New York magazine and has been featured on CBS’ 60 Minutes, NBC’s Nightly News with Brian Williams, Meet the Press, Today, The Tonight Show, Late Night

Mutual Funds Special Schemes


Mutual Funds Special Schemes

This category includes index schemes that attempt to replicate the performance of a particular index such as the BSE Sensex, the NSE 50 (NIFTY) or sector specific schemes
which invest in specific sectors such as Technology, Infrastructure, Banking, Pharma etc.

Besides, there are also schemes which invest exclusively in certain segments of the capital market, such as Large Caps, Mid Caps, Small Caps, Micro Caps, 'A' group shares, shares
issued through Initial Public Offerings (IPOs), etc.

Index fund schemes are ideal for investors who are satisfied with a return approximately equal to that of an index.

Sectoral fund schemes are ideal for investors who have already decided to invest in a particular sector or segment
Fixed Maturity Plans
Fixed Maturity Plans (FMPs) are investment schemes floated by mutual funds and are closeended with a fixed tenure, the maturity period ranging from one month to three/five years.

These plans are predominantly debt-oriented, while some of them may have a small equity component.

The objective of such a scheme is to generate steady returns over a fixed-maturity period and protect the investor against market fluctuations.

FMPs are typically passively managed fixedincome schemes with the fund manager locking into investments with maturities corresponding with the maturity of the plan. FMPs are not guaranteed products.

ExchangeTraded Funds (ETFs)
Exchange Traded Funds are essentially index funds that are listed and traded on exchanges like stocks. Globally, ETFs have opened a whole new panorama of investment opportunities to retail as well as institutional investors.

ETFs enable investors to gain broad exposure to entire stock
markets as well as in specific sectors with relative ease, on a real-time basis and at a lower cost than many other forms of investing.

An ETF is a basket of stocks that reflects the composition of an index, like S&P CNX Nifty, BSE Sensex, CNX Bank Index, CNX PSU Bank Index, etc. The ETF's trading value is based on the net
asset value of the underlying stocks that it represents.

It can be compared to a stock that can be bought or sold on real time basis during the market hours. The first ETF in India, Benchmark Nifty Bees, opened for subscription on December 12, 2001 and listed on the NSE on January 8, 2002.

Capital Protection Oriented Schemes
Capital Protection Oriented Schemes are schemes that endeavour to protect the capital as the primary objective by investing in high quality fixed income securities and generate capital appreciation by investing in equity / equity related
instruments as a secondary objective.

The first Capital Protection Oriented Fund in India,
Franklin Templeton Capital Protection Oriented Fund opened for subscription on October 31, 2006.

Gold ExchangeTraded Funds (GETFs)

Gold Exchange Traded Funds offer investors an innovative, cost-efficient and secure way to access the gold market. Gold ETFs are intended to offer investors a means of participating in
the gold bullion market by buying and selling units on the Stock Exchanges, without taking physical delivery of gold. The first Gold ETF in India, Benchmark GETF, opened for subscription
on February 15, 2007 and listed on the NSE on April 17, 2007.

Quantitative Funds

A quantitative fund is an investment fund that selects securities based on quantitative analysis.

The managers of such funds build computerbased models to determine whether or not an investment is attractive. In a pure "quant shop" the final decision to buy or sell is made by the

However, there is a middle ground where the fund manager will use human judgment in addition to a quantitative model. The first Quant based Mutual Fund Scheme in India, Lotus Agile Fund opened for subscription on October 25,  2007.

Funds Investing Abroad

With the opening up of the Indian economy, Mutual Funds have been permitted to invest in foreign securities/ American Depository Receipts (ADRs) / Global Depository Receipts
(GDRs). Some of such schemes are dedicated  funds for investment abroad while others invest partly in foreign securities and partly in domestic securities.

While most such schemes invest in securities across the world there are also schemes which are country specific in their investment approach.

Fund of Funds (FOFs)
Fund of Funds are schemes that invest in other mutual fund schemes. The portfolio of these schemes comprise only of units of other mutual fund schemes and cash / money market securities/ short term deposits pending deployment. The first FOF was launched by Franklin Templeton Mutual Fund on October 17,

Fund of Funds can be Sector specific e.g. Real Estate FOFs, Theme specific e.g. Equity FOFs, Objective specific e.g. Life Stages FOFs or Style specific e.g.Aggressive/ Cautious FOFs etc.

Please bear in mind that any one scheme may not meet all your requirements for all time. You need to place your money judiciously in different schemes to be able to get the combination of growth, income and stability that is right for you.

Remember, as always, higher the return you seek higher the risk you should be prepared to take


Investments: Which Mutual Fund is Right?


 Investments: Which Mutual Fund is Right?

Mutual Fund Growth Schemes

Aim to provide capital appreciation over the medium to long term. These schemes normally invest a majority of their funds in equities and are willing to bear short term decline in value for
possible future appreciation.
These schemes are not for investors seeking regular income or needing their money back in the short term.

Ideal for:
Investors in their prime earning years.
Investors seeking growth over the long term.

Income Schemes

Aim to provide regular and steady income to investors. These schemes generally invest in fixed income securities such as bonds and corporate debentures.

Capital appreciation in such schemes may be limited.

Ideal for:
Retired people and others with a need for capital stability and regular income.
Investors who need some income to supplement their earnings.

Balanced Schemes
Aim to provide both growth and income by periodically distributing a part of the income and capital gains they earn. They invest in both shares and fixed income securities in the proportion indicated in their offer documents.

In a rising stock market, the NAV of these schemes may not normally keep pace or fall equally when the market falls.

Ideal for:
Investors looking for a combination of income and moderate growth.

Money Market / Liquid Schemes
Aim to provide easy liquidity, preservation of capital and moderate income. These schemes generally invest in safer, short term instruments such as treasury bills, certificates of deposit,
commercial paper and interbank call money.

Returns on these schemes may fluctuate, depending upon the interest rates prevailing in the market.

Ideal for:

Corporates and individual investors as a means to park their surplus funds for short periods or awaiting a more favourable
investment alternative.

Tax Saving Schemes (Equity Linked Saving
Scheme - ELSS)
These schemes offer tax incentives to the investors under tax laws as prescribed from time to time and promote long term investments in equities through Mutual Funds.

Ideal for:
Investors seeking tax incentives.

Friday, September 28, 2018

Axis Mutual Fund launches ‘Axis Growth Opportunities Fund’


Axis Mutual Fund launches ‘Axis Growth Opportunities Fund’
         A fund that aims to offer a global investment opportunity by investing in domestic equities as well as foreign securities by leveraging its relationship with Schroder Investment Management Limited (as investment advisor)
          NFO open date: October 01, 2018. NFO close date: October 15, 2018

Mumbai, September 26, 2018: Axis Mutual Fund, one of the leading asset management companies, today announced the launch of its new fund – ‘Axis Growth Opportunities Fund’. India’s equity market cap is just 3% of world’s market cap indicating that domestic mutual fund investors are not exposed to 97% of the world’s equity investment opportunities.  This fund aims to offer global diversification to Indian investors by participating in equity and equity related instruments both in India as well as overseas. Some of the key features of global diversification from an investor’s perspective are:

·         Different markets in the world perform at different times due to low correlation between them creating diversification opportunity
·         Global diversification has the potential to optimize returns while reducing risk of the overall portfolio significantly
·         Global allocations help better withstand event shocks
·         Opportunity to invest in global unexplored themes
The fund will typically look to have 30-35% in domestic large caps & up to 35% in foreign securities (predominantly large caps) making total large caps as 35-65% and total domestic midcaps of 35-40%. Overseas allocation will be made by directly investing in foreign securities advised by Schroder Investment Management Limited. Overseas investment philosophy is aligned with domestic Axis philosophy of bottom up investing in high quality stocks with high growth prospects. The target of the high quality portfolio construct is to generate sustainable long term performance while keeping risk contained. The highly experienced fund management team at Axis AMC& global expertise from Schroder is well placed to execute on this philosophy.
Mr. Chandresh Kumar Nigam, MD & CEO, Axis AMC said, “If Indian investors are the consumers of multiple global brands in their day to day lives, they should be given access to participate in their global growth stories. We at Axis are happy to launch our new fund ‘Axis Growth Opportunities Fund’thatoffers global diversification to Indian investors by leveraging our relationship with Schroder and their global equity investing expertise.”
The minimum application amount for this fund is Rs. 5,000 and in multiples of Re. 1/- thereafter. The fund offers a direct and regular plan, both with growth and dividend options. An exit load of 1% is applicable if redeemed/switched out on or before 12 months from the date of allotment. The fund offers Nil exit-load for redemption up to 10% of the investment amount.
The fund will be managed by Mr. JineshGopani, Head –Equity

For media contact 
Nagaraj Perumal
Ketchum Sampark
break through  
 Office :  (d)+91 44 2435 2644
Mobile: +91 99406 37801

Tariff hike to support domestic manufacturing: Ganesh Kumar Gupta, President, FIEO

Tariff hike to support domestic manufacturing: Mr. Ganesh Kumar Gupta, President, FIEO

Reacting to increase in tariff on consumer goods, Mr Ganesh Kumar Gupta, President, FIEO said that the higher tariff coupled with depreciating Rupee will provide double protection to domestic industry and enable it to compete with imports with a view to reduce it and bridge the widening trade deficit. It will give a push to Indian manufacturing as well.

However, the increase in duty on ATF is a cause of concern, as it may hike the passenger airfare as ATF is a key factor in determining the price added FIEO Chief.  

ICRA: MFI sector back on growth track, but new challenges on the horizon


ICRA: MFI sector back on growth track, but new challenges on the horizon

·         Industry expected to post around 20-22% growth
·         Challenges pertaining to high client attrition and fresh capital infusion to fund growth remain

The Indian microfinance sector (including the SHG Bank Linkage Programme) grew 25% (annualised) in Q1 FY2019 to Rs. 2.25 lakh crore. The growth was supported by good collection efficiency, continued investor support to microfinance institutions (MFIs), funding availability and demand for microcredit.
Commenting on this Ms. Supreeta Nijjar, Vice President and Sector Head, Financial Sector Ratings, ICRA says, “The Growth prospects remain good and the industry is expected to grow at 20-22%. The industry has diversified geographically at the state as well as the district level. While Karnataka and Tamil Nadu remained the top two states in terms of portfolio share, with the increased focus of industry participants on expanding their reach in the underpenetrated states of Bihar and Odisha, where the asset quality indicators remained benign even after demonetisation, the share of these two states put together increased from 13% to 18% as on June 2018. Even at the district level, the share of the top 20 districts declined to around 18% of the portfolio outstanding as on June 30, 2018 from 25% in September 2016.”
Including the SHG Bank Linkage Programme, banks were the most significant providers of microcredit (60%) as on June 30, 2018, followed by Non-Banking Finance Companies(NBFC-MFIs) at 26% and Small Finance Banks(SFBs) at 14%. ICRA expects the share of banks to expand with the expected merger of Bharat Financial Inclusion Limited and IndusInd Bank Limited, and the increased focus of banks on growing their business correspondent (BC) portfolios. ICRA has also noticed the trend of banks/larger NBFCs taking partial/majority stakes in MFIs. In some cases, MFIs are also working on increasing lending through the BC model and developing co-lending arrangements, which are likely to be more efficient from a credit risk and capital management perspective. 
On the flip side, high client and employee attrition could lead to scalability challenges for the sector. Employee attrition continues to be around 25-30% at the field level. This coupled with 25-30% expansion in the field staff every year to support branch expansion, would imply that around 50% of the staff, at any point in time, would have a vintage of less than a year in a particular MFI. This implies continuous need for staff training and development. Further, the training needs are likely to change as the lenders move towards higher automation of processes and higher ticket sizes. Client attrition rates have also increased with an increase in competition. This also leads to pressure on the field staff to continuously acquire clients and explore newer areas for maintaining the client growth rates.
The ICRA note says that the overall 0+ dpd for the sector reduced to 8% in June 2018 from a peak of 23.6% in February 2017. Harder bucket delinquencies reduced as well with the 90+ dpd declining to 7.3% in June 2018 from 12.2% in June 2017, supported by increased portfolio growth, write-offs and arrear funding by some lenders. However, excluding one large player whose delinquencies were significantly higher than that of the industry, the 90+ delinquencies for the rest were significantly lower at 2.9% as of June 2018 (peak of 8.1% as of June 2017). Uttar Pradesh, Maharashtra, Gujarat, and Uttarakhand, which had high delinquencies as of June 2017, showed a reduction in delinquency levels across all buckets.
An analysis of the portfolio cuts of MFIs reveals that the ticket sizes and loan tenures are rising. While the opportunity to scale up and grow remains intact, there is need for a more involved credit analysis and assessment of the actual debt repayment capacity of the borrower. Further, the risk management policies of the lenders in the sector need to be aligned with responsible and sustainable growth, where the overall indebtedness of the borrower from all formal sources is considered for leverage calculations rather than for compliance with regulatory norms. The asset quality indicators should be supported, over the medium term, by structural factors such as group selection/elimination and the fact that MFIs represent the least cost of funding for borrowers. Nevertheless, the segment remains vulnerable to income shocks and is politically sensitive. Therefore, ICRA expects credit costs for the sector to remain volatile with mean credit costs at 1.5-2.5%, which could vary among players across cycles, depending on their risk management practices.
While investors continued to support the industry with equity infusion of Rs. 4,061 crore in FY2018 (~Rs. 6,570 crore in FY2017), 87% of the capital was infused in the top 10 lenders in terms of portfolio size. “In ICRA’s opinion, the sector would need external capital of Rs. 6,000-9,000 crore till FY2021 to meet the growth plans. While raising capital is unlikely to be a major impediment for well-managed large MFIs/SFBs, the smaller entities may continue to struggle to raise equity. This could result in an increase in the share of smaller MFIs originating more portfolio through the BC model, as partners to larger lenders, to conserve capital. Alternatively, there could be further consolidation in the industry with the smaller MFIs being acquired by larger NBFCs/banks,” Ms. Nijjar added.
In addition to the capital flow which aided the liquidity profile of MFIs in the past, their liquidity profile is also supported by the priority sector status attached to the bank loans and off-balance sheet funding (largely assignments) of MFIs and relatively shorter tenures of their assets vis-a-vis liabilities.  However, incremental funding requirements for the MFIs are likely to remain high given the growth aspirations and the need to maintain disbursement levels for servicing the existing client requirements as well. At the same time, the recent volatility in the wholesale market is likely to keep the cost of funds elevated for these MFIs especially since these players are highly dependent on wholesale funding sources. Overall, availability of fresh funding would be a key factor impacting MFIs’ liquidity profiles going forward.

For media contact 
Nagaraj Perumal
Ketchum Sampark
break through  
 Office :  (d)+91 44 2435 2644
Mobile: +91 99406 37801

India has 3rd highest number of family firms : Report by Credit Suisse.


India has 3rd highest number of family firms 

US and China top list. India is home to 111 family-owned businesses.

India has the 3rd largest number of family-run businesses in the world after the US and China, according to a report by Credit Suisse. 

India has 111 family-owned business with a combined market capitalisation of $839 billion.

Indian companies owned by families generated average annual returns of 13.9 per cent since 2006, more than double the 6 per cent reported by companies that were not.

Tuesday, September 25, 2018

Ideal time to shift to accrual oriented funds


Ideal time to shift to accrual oriented funds
After the recent hike in Repo Rate by RBI, investors are looking towards short term income funds to gain from high accrual coupled with income stability due to lower duration.
One such fund is UTI Short Term Income Fund which aims to generate reasonable returns with low risk and high liquidity from a portfolio of money market securities and high quality of debt with a average maturity cap of 4 years. The fund attaches importance to high credit quality and portfolio diversification.
Sudhir Agrawal, fund manager of UTI Short Term Income Fund says, “With the expectations of CPI inflation moving towards 5% in first half of next year, RBI may be under pressure to hike rates further to bring inflation closer to its target. Further, increase in cost of imports due to depreciation of rupee versus dollar may result in upside risk to the CPI in coming months. In such a scenario, investors should start shifting focus to short term income funds as these funds offer high accrual along with lower volatility. We have been recommending investors to look at our short term income fund with an investment horizon of 1 to 3 years.”

UTI Short Term Income Fund has been consistently outperforming its benchmark CRISIL Short-Term Bond Fund Index. Fund has given a return of  8.64% against its benchmark return of 7.63% since inception(as on August 31, 2018).

UTI Value Opportunities Fund - Finding value where Market Underestimates


UTI Value Opportunities Fund - Finding value where Market Underestimates

Financial experts often recommend that investors should invest in funds that capture the near complete spectrum of the markets, in other words well diversified funds. One tends to gravitate towards large cap funds since they optically cover anywhere from ~80-85% of the market capitalization. 

Although large caps do represent the broader markets/indices, investors should recognize that these funds do not always reflect or capture the opportunities across the spectrum. This spectrum could include opportunities in different market capitalizations, different investment approaches (growth vs. value) or even the cyclicality in certain segments of the overall markets. 

This anomaly or rather varied market dynamics gives the fund manager/s the broad field for unique opportunities across the market capitalization spectrum and investment styles at the same time ensure that the relative portfolio risk is reduced.

UTI Value Opportunities Fund is one of such funds that looks for opportunities which is expressed in terms of relative intrinsic value of a given stock, which means following “Value” style of investment and across the market capitalization spectrum, what we call Multi-cap Fund. 

Where “Value” is buying things for less than their intrinsic value. Intrinsic value is simply the current value of the cash flows that the company generates for its shareholders over a period of time. Undervalued businesses can be found at two ends of the spectrum. At one end the market may under appreciate the sustainability of competitive advantages and/or the length of the growth runway for the company. 

These companies defy the norm of cyclicality and reversion to mean.At the other end of the spectrum there are companies that may be experiencing challenges due to cyclical factors, changes in the environment or their own past actions. But if the core business is healthy and a path to a better future (cash flows, return ratios) is visible then their depressed valuations offer an attractive entry point. 

The opportunity in both cases is to buy something cheap relative to expectations. UTI Value Opportunities Fund would be focusing on companies having a high intrinsic value and the ability to generate cash flows over time.

UTI Value Opportunities Fund was launched in the year 2005. The Fund has AUM of Rs. 4,610 Crores with over 5,12,000unit holder accounts as of June 30, 2018. The Fund has a flexibility to position itself more actively across the market cap spectrum. While the portfolio will have a large cap bias; the midcap exposure could vary more widely based on valuation differentials.

The Fund has about 71% invested into Large Caps and remaining in Mid & Small caps as on June 30, 2018. The scheme’s top holding consists of HDFC Bank,IndusInd Bank, Infosys, Maruti Suzuki India Ltd., ICICI Bank Ltd.,Mahindra & Mahindra Financial Services Ltd., TCS, Gail India, ITC Ltd., &Tech Mahindrawhich accounts for over 51% of the portfolio’s corpus.

UTI Value Opportunities Fund is suitable for those equity investors looking to build their “core” equity portfolio and seeking long term capital growth. 

Also suitable for investors looking for reasonable outperformance over plain vanilla equity funds over medium to long term.

BSE’s India INX to receive direct connectivity from BSO


BSE’s India INX to receive direct connectivity from BSO

BSO becomes first global network provider to offer direct connectivity to India INX

Delivering connectivity services and proximity hosting for international investors and exchange members

Mumbai, September 25th, 2018: 
The India International Exchange Limited (India INX), India’s first and leading international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) and BSO, the award-winning Ethernet network, cloud and hosting provider, are pleased to announce that BSO has become the first global network provider to offer direct connectivity to the India INX International Financial Services Centre (IFSC), enabling foreign investors to access the Indian market.

The IFSC is located in the Gujarat International Finance Tec-City (GIFT City) and, with the support of BSO, is aiming to attract the international financial community by providing domestic and offshore traders equal access to the wider global markets. Via the purpose-built trading destination for global traders, participants will benefit from a more level playing field and state-of-the-art connectivity into the country.

BSO has expanded its ‘Mumbai Connect’ service into India INX to enable international investors and Non-Resident Indians to trade India INX from across the globe as well as provide the India INX exchange members with co-location and international connectivity solutions.

Mr. V Balasubramaniam, MD & CEO at India INX commented, “We are very pleased to be extending our working relationship with BSO, a partner who is filling the need here in India for a global network provider with the local knowledge and capability to provide both the lowest latencies and an extremely high level of service for our clients.”

Michael Ourabah, CEO at BSO, said, “BSO has a well-established footprint and business in India and has been working to support India INX’s development since its inception in January 2017.” Adding, “Being at the heart of connecting the global trading community to emerging and high-growth regions such as India is core to BSO’s service-led approach, we recognise that each emerging market we serve has unique needs and we have responded by developing a multi-faceted team that can ease the IT challenges and pain points in the diverse Indian market.”
BSO’s Mumbai Connect provides a range of ultra-low latency Layer 2 and Layer 3 client solutions in/out of India INX which include:

Ø  Co-located Market Data, Order Entry and Order Execution for India INX Members hosted at IFSC

Ø  Access to International Markets across the globe

Ø  Point to Point Circuits for clients to connect to all major Exchange 
locations inside and outside of India

Ø  Separate last mile circuits into IFSC
India INX currently supports trading in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks.

About India INX

India Inx, a wholly-owned subsidiary of BSE Ltd, commenced its trading activities on January 16, 2017 and is India’s first International Exchange set up at GIFT City. It is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds and operates for 22 hours a day to allow international investors and Non Residents Indians to trade from anywhere across the globe. 

The exchange provides a common platform for all asset classes - equities, currencies, commodities. The exchange proposes to commence offerings of depository receipts and bonds once the required infrastructure is in place.

India INX offers a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Hong Kong Singapore, Dubai, London and New York. 

The exchange being located in IFSC, GIFT City, provides competitive advantage in terms of tax structure and supportive regulatory framework. These include benefits in security transaction tax, commodity transaction tax, dividend distribution tax and long-term capital gain tax waivers and no income tax. 

About BSO
The BSO network seamlessly connects 103 data centres in 23 countries across America, Europe, The Middle East and Asia-Pacific regions. We offer tiered latencies options to suit your needs – ultra low-latency for when latency is critical; low-latency when latency is sensitive and standard connectivity.

BSO’s agile business model and growth-mindset allows us to quickly move into new territories as the world evolves, so our on-net clients immediately benefit from opportunities in the most dynamic and attractive markets.
Our core network solutions include:

·         BSO Network – Global Multipoint WAN Ethernet

·         MAN Ethernet (Layer 1 DWDM Services Passive and Active)

·         Layer 1 IEPL (International Ethernet Private Line EoSDH/EoDWDM)

·         Layer 2 (Data Link)

·         Layer 3 (Network) Point-to-Point Connectivity

·         Multiprotocol Label Switching (MPLS)

·         Virtual Private LAN Service (VPLS)

·         Virtual Leased Line (VLL)

·         Wireless/Microwave Connectivity

·         Optical Fibre and Dark Fibre

·         Resiliency via Protected Paths

For further information, please contact:

India INX                                                              Adfactors PR
Rahul Vyas/Yatin Padia                                        Name: Mihir Dani, Priyadarshini Sinha
Ph.: 022 22728472 / 022 22728516                             Ph: 7738012080,9999627610
Email: /                             Email:,               
BSO Media contacts
Melanie Budden
The Realization Group
+44 (0)7974 937 970

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