Wednesday, October 04, 2006
Business News Oct 1st, 2006
| No need for interest hike: CII poll | |
| New Delhi, Oct. 1: Before the mid-term review of the Annual Monetary Policy, Indian companies feel that the Reserve Bank of India should not raise the interest rate further. This was the verdict of 69 per cent of the CEOs who responded to a CII poll on select economic issues. These CEO’s felt that, though the demand for credit was growing at a healthy 30 per cent and above, the current interest rate needed to be maintained by the Reserve Bank to keep the growth momentum on track. The RBI is likely to announce a mid-term review on October 31. This was obviously backed by modest inflationary expectations among the industrial community. The respondents, in the survey, were confident that inflation would be contained below 5 per cent for the current fiscal. Some 38 per cent of the respondents felt that the inflation rate would settle between 4.6 and 5.0 per cent, while 23 per cent felt that inflation would end even lower between 4.0 and 4.5 per cent. However, the same optimism was not shared for the FRBM targets. Only 7 per cent of the respondents felt that the FRBM targets (fiscal deficit at 3.8 per cent and revenue deficit at 2.1 per cent) for the current fiscal would be met. Perceptions regarding this were likely to have been influenced by the fact that during the first quarter of the current fiscal, fiscal and revenue deficits as percentage of total deficits for the whole year stood at 52 per cent and 83 per cent respectively. However, it is understood that much of this can be attributed to frontloading of expenditure (fund disbursements). Sixty-seven per cent of the respondents felt that the fiscal deficit for the year would stand at an upward trend of 4.4 per cent, with 33 per cent feeling that this would be between 4.8 per cent and 5.1 per cent for 2006-07. The manufacturing sector has been clocking an average of 12 per cent growth rate in the April-July 2006 period. The mood has been buoyant in this sector. Reflecting this mood, 50 per cent of the CEOs felt that the target growth rate for the manufacturing sector should be set at 14 per cent and above. This becomes significant since the ministry of finance and the Planning Commission have set a target of 12 per cent growth for the manufacturing sector. | |
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Mittal’s plant location by Oct. 30 | |
| Bhubaneswar, Oct. 1: The Arcelor-Mittal Group will finalise the location of its proposed steel plant in Orissa by October 30. State steel and mines minister Padmanabh Behera said five locations have been shortlisted by the company for the proposed plant. The locations are Khallikote in Ganjam district , Patna in Keonjhar district , Chipilima in Sambalpur district, Basudevpur in Bhadrak district and Balrampur in Balasore district. Arcelor-Mittal has entrusted Mecon to finalise the site. Mr Behera said the company will have a round of talks with the state government after that to finalise the date of signing of the MoU. The steel behemoth has evinced interest to set up a 12-million-tonne steel plant with an approximate investment of Rs 30,000 to Rs 40,000 crores. | |
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VisualSoft agrees to merge with Megasoft | |
| Hyderabad, Oct. 1: Nearly seven months after an earlier merger proposal crashed and burned, VisualSoft Technologies, a software services and offshore product development company, will be amalgamating with Megasoft Ltd, a software product development firm with a strong presence in the telecom space.This newspaper had first reported, in its Saturday edition, on Megasoft being a frontrunner for the merger with VisualSoft. “As VisualSoft will be amalgamating with Megasoft, a listed company, the deal will be through a stock-swap. The ratio of the stock swap will be decided by the boards of the two companies based on the recommendations of the independent valuer. The board of VisualSoft accorded in-principle app-roval to merge VisualSoft with Megasoft on Saturday,” Mr V. Krishnan, VisualSoft’s CFO, told this newspaper on Sunday. Two other Chennai-based firms had also bid for the merger. According to Mr Krishnan, the independent valuer will be appointed this week, and the stock-swap ratio is expected to be finalised in the next fortnight. The transaction is expected to be completed within the next four-six months. Explaining the rationale for the amalgamation, Mr Krishnan said, “It will bring synergies to both VisualSoft’s OPD and software services business and Megasoft telecom software products development.” There are expected to be no job losses at VisualSoft because of the amalgamation, he said, because both companies have aggressive expansion plans. Asked about the status of VisualSoft Interaction, the BPO division of the company, Mr Krishnan said the amalgamated entity would need to take a decision on that. “As Megasoft is a telecom software company, there could be a need for a BPO operation, which can complement the amalgamated company’s product and service offerings,” he said. Post-merger, the corporate entity of VisualSoft would be merged with Megasoft, though given the brand identity of the company, it could continue as a separate brand. “These issues will be decided as we go along once the amalgamation is completed,” Mr Krishnan said. Mr G.V. Kumar, MD and CEO of Megasoft, is expected to be the new leader of the amalgamated company, he said. VisualSoft’s proposal to merge AppLabs Technologies, a privately-held software testing firm based in Hyderabad and in the US, was called off in March this year, after AppLabs dismay over the delay in getting approval for the merger. | |
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India key talent pool for Accenture’s IMS | |
| Hyderabad, Oct. 1: With the unavailability of skilled manpower in the United States and Europe for information management services, Accenture, a management consulting, technology and outsourcing company, will be growing the practice in India, a senior company executive said on Sunday. “Currently, we have about 10,000 professionals handling information management services worldwide, but with IMS growing rapidly, there will be more demand for this specialisation, and India has the requisite talent pool,” says Mr Stephen Gallagher, senior director, information management (Europe, West Asia and Asia), Accenture. “IMS is a growing segment because information on a desktop is available in bits and pieces, in different formats. IMS aims to get all these disparate pieces of information on a common platform, making its easier to access structured and unstructured content,” Mr Gallagher said. Last year, Accenture said it will invest $100 million through 2008 to develop its IMS. The investment was aimed to grow in IMS, including business intelligence and content management, for specific industries such as financial services. “IMS and business intelligence is a massive growth market, but the challenge is in finding the right people for this. The US and European labour markets do not acquire people with the required skill sets for this. So, India is an important pool for skilled people. In fact, India is a crown jewel in terms of IMS for us,” Mr Gallagher said. According to him, IMS is emerging as a tool which will see pervasive use, unlike earlier, and is heading towards being a real-time, predictive tool. An IBM study recently says that 85 per cent of world’s enterprise data is stored in unstructured format. Gartner, a consulting firm, has predicted that by 2012, enterprises will need to handle 30 times more data than in 2002, which would translate to a CAGR of 40 per cent, with 0.7 per cent probability. | |
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Microsoft now turns focus on HPC | |
| IT Today | |
| When Microsoft gets into a new area of technology, you can be sure that the entire world will be told by the company that the software giant is ready to do battle, and that competitors had better watch their backs. One such area which Microsoft has now turned its focus on is high-performance computing, long the preserve of the open-source bolshies. What is HPC? While there is no clear definition of HPC, experts say it is a branch of computer science that concentrates on developing supercomputers and software to run on supercomputers. A main area of this discipline is developing parallel processing algorithms and software: programs that can be divided into little pieces so that each piece can be executed simultaneously by separate processors, according to Webopidia. To find out what Microsoft was doing in the HPC space, I recently spoke to Vaibhav Phadnis, director, Server Business Group, Microsoft India. I started by asking him why Microsoft was entering the HPC segment now, given that Linux and Unix appear to have a lock on it. Mr Phadnis said that Microsoft, with its Windows Compute Cluster Server 2003, expects to make HPC more “mainstream”. Mr Phadnis says that with Microsoft Windows platform, developers and users would have cost advantages, ease-of-use and partner ecosystem of the Windows Server platform to departments and divisions in commercial industry and the public sector. High-performance computing technology holds potential for expanding R&D within engineering, medical research, exploration and other sectors, he says. “The introduction of 64-bit symmetric multiprocessing has given us a lot of room in evolving HPC capabilities,” he says. The 64-bit is the processing of programmes by multiple processors that share a common operating system and memory. In symmetric (or “tightly coupled”) multiprocessing, the processors share memory and the I/O bus or data path. A single copy of the operating system is in charge of all the processors. The global high performance computing segment is growing faster than the x86 market, according to a recent report by IDC, which says that while HPC is demonstrating a 15-20 per cent growth rate, the x86 market has been averaging a growth of 11.4 per cent, IDC reported that worldwide x86 HPC cluster revenue grew 70 per cent year-over year (2004 to 2005). Mr Phadnis said that the Windows Computer Cluster 2003 Serve helps in using Web services integration to accept input from and deliver finance results to business processes. | |
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India Inc. to get a boost with PM’s S. Africa trip | |
| Johannesburg, Oct. 1: India’s modest investments in South Africa could soon see some impressive progress, with Prime Minister Manmohan Singh’s visit to that country providing corporate leaders an opportunity to take forward economic and commercial relationship. While Dr Singh’s visit to take part in Mahatma Gandhi’s Satyagraha Centenary celebrations primarily aims to strengthen political ties, the two sides would also discuss the possibility of a Preferential Trade Agreement to increase two-way trade to about $10 billion by 2010 from just $four billion a year ago. Simultaneously, a team of top corporate leaders would take forward the economic and commercial relationship of India and South Africa, the continent’s largest economy. The India-South Africa CEOs Forum, co-chaired by Tata Group chairman Ratan Tata, would seek to explore specific business opportunities in various sectors of mutual interest. Besides the Tata Group, which is the largest Indian conglomerate in South Africa with presence in steel, auto, coffee, IT and hospitality, other aspiring Indian MNCs such as banking powerhouse ICICI, and drug giant Ranbaxy are part of the team. The promise of greater trade ties between the two regions was also reflected in a World Bank study last month that said India’s foreign direct investments in Africa, though presently modest, was growing very rapidly. About 35 homegrown corporates have a significant presence in South Africa, with Indian investment likely to be more than $500 million over the next one year. Indian investors include Ashok Leyland and Mahindra and Mahindra; pharma companies such as Ranbaxy, Cadila and Cipla; IT software and hardware companies like Zenzar Technologies and Sahara Computers, as well as ICICI and State Bank of India. Tata Steel is building a $100 million ferrochrome plant in Kwazulu-Natal region, while VSNL would invest about $200 million in fixed-line telecom services. Tata group would also set up hotels in Johannesburg, Capetown and Durban under Taj Hotels. Further, Indian firms are also taking the inorganic growth path and have acquired stakes in a number of local businesses. | |
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Nalco plans 2nd Orissa unit | |
| Bhubaneswar, Oct. 1: Public sector aluminium major National Aluminium Company (Nalco) has planned to set up a second green-field integrated aluminium complex in Orissa at an investment of Rs 15,000 crores. The proposed complex will comprise a 1.5-million-tonne alumina refinery, a smelter with installed capacity of 2.5 to 3 lakh tonnes and a captive power plant. According to Nalco chairman and managing director C.R. Pradhan, the company has already moved the Orissa government for allotment of bauxite deposit in the Gandhamardan hills in Sambalpur district. These mines are estimated to have 220 million tonnes in bauxite reserve. “The application is now pending with the government and once we get the green signal, we will go for the detailed feasibility study of the project,” Mr Pradhan said. The public sector aluminium major had tried to mine bauxite in the Gandhamardan hills about two decades back. But it withdrew from the task following a protracted agitation by locals on environmental grounds. “We are aware of the troubles and have worked out plans to safeguard environment and livelihood of the local people,” Mr Pradhan said. Besides the Gandhamardan project, Nalco has also lined up other investment proposals, both in India and abroad. It had earlier this year announced that it would set up an integrated alumina refinery and an aluminium smelter in Andhra Pradesh. | |
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Global blues will not affect India: Analysts | |
| New Delhi, Oct. 1: India will remain a relatively safe haven for investors in the event of a possible global correction in the medium to long-term — notwithstanding its dependence on foreign funds and a high correlation with the world markets, the analysts believe. The domestic equity market is unlikely to underperform on a multi-quarter basis even if there is a global correction triggered by economic slowdown concerns in the US, equity research major Credit Suisse said. India remains an independent market for global investors, notwithstanding its high valuation risks, Credit Suisse’s India Research Head Nilesh Jasani wrote in his India Strategy Report. Despite its dependence on foreign portfolio flows and a strong correlation to the global and emerging market trends, fundamentally India’s growth story remains almost completely domestic, Mr Jasani said. “The current era’s biggest independent growth story is perhaps India. Like the Chinese growth during the US recession in 2001, we believe it is highly likely that any upcoming global slowdown will not affect India significantly,” he added. In the past also, economies with their own independent drivers have normally outperformed other markets at times of slowdown in the US. While valuations could come under pressure from any meltdown in global markets, it would be temporary as long as the country’s domestic growth story remains intact, Mr Jasani argues. | |
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Mid-cap, small-cap stocks back in focus | |
| Market Khabar By C. Kutumba Rao | |
| Exhibiting ascending minor tops and bottoms, markets continued their march towards new highs. On the BSE, the Sensex gained 1.8 per cent to close at 12,454 and on the NSE, the Nifty clocked 1.3 per cent to finish at 3,588. Positive trend in global markets (US DJIA is also close to its all time high of 11750) and lower crude oil prices coupled with steady FII and domestic fund buying kept the sentiment positive. An excellent set of GDP numbers and lower inflation provided “manna” for bulls at the weekend. Market breadth indicates broader sectoral participation. The activity has gained momentum in mid-cap and small-cap stocks after a long time. Sharp stock specific moves are predicted ahead of Q2. For the week ahead, chartists predict a trading band of 12,240-12,800 for the Sensex and 3,360-3,700 for the Nifty. Strong supports for the Nifty are at 3,540 & 3,480 and for the Sensex at 12,280 & 12,160. With 13K on the horizon, robust Q2 results may spark euphoric buying in markets. The Nifty will move into top gear above 3,600 levels, brag punters. F&O SEGMENT The settlement week witnessed robust trading with higher volumes. Optimism of bulls is reflected in nearly 80 per cent long positions being rolled over to the new series. Sentiment indicators like implied volatility, put/call ratio and open interest indicate volatile trend in coming days. Buy Nifty call option of 3,650 strike for unexpected gains. Stay invested in Nifty futures for further gains. Cut longs if the Nifty is unable to cross the 3,630-3,640 band. Among stock futures buying is suggested in Tata Steel, Sail, SBI, Infosys, ACC, Century, ITC, Indian Hotels, GA Cement and Divi Labs with a stop loss at Rs 498, Rs 74, Rs 1,000, Rs 1,780, Rs 960, Rs 486, Rs 180, Rs 1,340, Rs 111 and Rs 2,100. Side counters such as GMR Infra, CESC, Polaris, GNFC, Cummins, Bharat Forge and IDFC look good for surprising gains. Banking counters look set to continue their bull run after modest consolidation. Smaller banks like Andhra Bank, Syndicate Bank, BoI, Union Bank and Vijaya Bank are good picks for further gains. Buy banks crossing new highs like BoB for breakout returns. Ahead of Infy numbers buying can be attempted in IT stocks for short-term returns. A strong buying interest was seen in cement and capital goods counters on expectations of robust Q2 numbers. Expect highly volatile Q2 result triggered moves in the next few sessions. SATTA GUPCHUP * After a long time frontline indices have been outperformed by mid-cap and small-cap indices. The focus is back on mid-cap and small-cap stocks which have been highly oversold. Heightened activity was seen in mid-caps like Kesoram, KLG Systel, Manugraph, Bhushan Steel and others. Small-caps like Aluflouride, Pennar Inds, Sanghi Inds and couple of cement counters are witnessing good action. Debt free and 500 per cent growth in Q1 profits makes Aluflouride a good bet for short term target of Rs 40. Turnaround results of Pennar triggered buying in the counter. Stay invested in cement counters for gains. * Keeping Q2 results in view, possible outperformers industry wise are Pharma: Ranbaxy, Sun, Nicholas, Biocon and Dishman; Power Equipment: Across the board good results expected; Retail: Nilkamal, Provogue, Pantaloon and Shopper Stop; Software: Other than frontline counters Geodesic, iGate Global and Mphasis BFL; C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed and the recommendations made are those of the author. Readers are recommended to consult their financial advisors before making any financial investments. This newspaper is not liable for investment decisions made on the basis of recommendations in these columns. | |
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‘Core sector lending better than real estate’ | |
| Q&A K. Ramakrishnan, chairman & MD, Andhra Bank | |
| K. Ramakrishnan is chairman and managing director of Andhra Bank. The bank, one of the oldest in the country, was founded in 1923 by Dr Bhogaraju Pattabhi Sitaramayya, a freedom fighter, and was nationalised in the seventies. Mr Ramakrishnan, a Hyderabad native with a business management degree from Osmania University, has been a banker for 36 years, joining Bank of India in 1970 as a probationary officer. He worked in various capacities at Bank of India till 2004, before moving to Bank of Baroda as executive director. He was appointed chairman and managing director of Andhra Bank last year. Will interest rates rise further? I think the interest rate regime will be stable. While I do not expect it to harden, there is sc-ope for interest rates softening. There is good demand for credit from productive areas of the economy, like agriculture, infrastructure and corporate sector. What are Andhra Bank’s targets in terms of deposits and advances for 2006-07? We currently have a book of Rs 56,000 crore, including deposits and advances. We expect to close 2006-07 with a book of Rs 66,000 crore, which will indicate a growth of above 20 per cent. What’s the bank’s strategy to reach these targets? Profitability is one of the most important indicators for us. Our net profit in the first quarter of 2006-07 was Rs 116.41 crore compared to Rs 85.16 crore in the same quarter of last year. Our strategy is increase the volume of low-cost deposits, thr-ough current and savings bank deposits, while reducing high-cost deposits from corporations. The low-cost deposits include retail and term deposits from individuals, with some deposits offering 8.5 per cent interest for eight years. This is more, if not on part, with post office savings. What’s the volume of high-cost deposits? We had Rs 8,500 crore of high-cost deposits, which entail higher interest payments. In the past eight months, we have managed to reduce this, and our objective is to stabilise this to Rs 5,000 crore. Isn’t a 20-22 per cent growth rate conservative? No, it is sustainable. Suppose we target an annual growth rate of 35-40 per cent, we would require to add Rs 12,000 crore of new business every year, which would be unsustainable in the long run. A 20-22 per cent growth is more prudent and sustainable, because then we will need to grow by about Rs 6,000 crore. We are targeting a growth of 14 to 15 per cent growth in deposits. We have viable exposure to all the productive sectors. We have put lending to commercial real estate on the back seat. Why is that? The commercial real estate market is volatile. It is better to lend to the infrastructure sector, which is more stable. Will Andhra Bank be lending to the Special Economic Zones? We are waiting and watching the SEZ sector. The Reserve Bank of India has directed all banks to treat SEZs as commercial real estate projects. The risk-weight average is high, and there is also the capital charge to factor in. Whether to lend to SEZs is a big question. We are looking for more clarity on this from the government What was the recent controversy about the Benchmark Prime Lending Rate all about, with finance ministry directing bank boards to ratify any decision to increase the PLR? There was no controversy as such. At Andhra Bank, we have an Asset Liability Management Committee, which decides on the PLR, inter alia. The ALMC approved increasing the BMPLR to 11.5 per cent from 11 per cent, because the board meets once a month. The board met soon after the ALMC decision, and ratified the move. Andhra Bank has announced a foray into the insurance business in August. What’s the state of play in this? We will be partnering with Bank of India and Dai-ichi Mutual Life Insurance Company of Japan. We are looking for a 48 per cent stake in the life insurance JV with the other two partners, but the details are being worked out. Our fee-based income, through the marketing of various financial products, has been increasing. Last year, our fee-based income was Rs 24 crore, and we expect to cross 50 crore this year. Our financial services centres market the products of Life Insurance Corp. of India, and the teams there are very aggressive. Is Andhra Bank scouting for acquisitions, after United Western Bank was amalgamated with IDBI? We were the first to submit a bid for UWB, but eventually IDBI, another government-owned bank acquired UWB. We are looking for acquisitions to grow. Were you disappointed after Andhra Bank could not acquire UWB? Yes, we were. Acquiring UWB would have given Andhra Bank a network of 230 branches over UWB, spread over 47 districts of 9 States. But the exercise provided a lot of learning for us as well. Will Andhra Bank be raising Tier II capital to meet Basel II norms? We are adequately funded till 2008. With our balance sheet, we can raise Rs 1,500 crore in Tier II capital, but we also have to factor in the interest commitment on Tier II capital. Will Andhra Bank be opening representative offices or branches overseas, besides Dubai? We have a representative office in Dubai, which is doing very well, offering remittance and other services to the NRIs in the United Arab Emirates. We have applied to the RBI for permission to open representative offices in Riyadh, Kuwait City, Doha and Muscat in the Middle East and Jersey City in the US. While it is very difficult to get permission to open full-fledged offices, which we would like, overseas, we believe the representative offices will be able to tap the large Indian expat communities. Within India, we are planning to open branches in Siwan, Chapra and Gopalganj in northern Bihar because these towns have large expat communities in the Middle-East. We have licenses to open 80 branches in 2006-07. What are the bank’s technology initiatives? We have networked 1,000 of our 1,250 branches nationwide. Our immediate goal is to offer online banking transactions to our customers. | |
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Business People | |
| Rajappa is president at Everest Brand: Everest Brand Solutions has appointed D. Rajappa as its president. Mr Rajappa, a seasoned advertising professional has been heading the Sri Lanka arm of Rediffusion DY&R since 2003. He began his career in 1988 with McCann, New Delhi and moved on to Interact Vision, before joining Rediffusion DY&R in 1994. Vittal and Borghesi join Airtel: Gopal Vittal and Carol Borghesi have joined Bharti Airtel as director of Marketing & Communication and director of Customer Service Delivery respectively. Mr Vittal brings with him more than 16 years of experience, having started his career with Unilever India, while Ms Borghesi has worked extensively on assignments in the telecom, retail and technology sectors. Shaikh joins board at House Full: House Full International Ltd., a retailer of home improvement pro-ducts, has announced the appointment of Arif Shaikh to its board of directors. Mr Shaikh is currently the president and chief executive at House Full International. Porwal promoted to head Starcom in India: Starcom MediaVest Group has promoted Manish Porwal, presently executive director, western region to the post of MD, western and southern regions. Mr Porwal will now guide and support the executive director in Bangalore and the GM at Chennai. Shahani is president of OPPI: Ranjit Shahani, vice chairman and managing dircetor, Novartis India Ltd., has been re-elected president of the Organisation of Pharmaceutical Producers of India (OPPI), an organisation of research-based international and large Indian pharmaceutical companies, for 2006-07. Apart from Mr Shahani, Ranga Iyer, managing dircetor, Wyeth Ltd, Dr Shailesh Ayyangar, managing dircetor, Aventis Pharma Ltd – Sanofi Aventis group, Mr. Kewal Handa, managing dircetor, Pfizer Ltd and Dr Girish Telang, managing dircetor, Roche Scientific Company India Ltd., have been elected as vice-presidents of the OPPI’s executive committee. HCL Mutt, Viswanathan join HCL Technologies: Harsha Mutt and V. Viswanathan have been appointed as vice-presidents of the Capital Market Services and Retail and Corporate Banking of HCL Technologies’ financial services vertical. Mr Mutt will manage HCL’s Capital Markets business unit, based out of Bangalore, while Mr Viswanathn will be responsible for managing HCL’s Retail & Corporate Banking business unit, based out of Chennai. | |
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Media Watch | |
| Delhi court restrains DVD rentals: The DVD rental business across the country has come under heavy legal scrutiny following a judgment by the Delhi High Court to curb rental outlets from issuing unauthorised DVDs copyrighted by the Motion Pictures Association (MPA). The judgment is expected to have far-reaching impact on the film rental business in India. Justice Reva Khetrapal passed orders restraining a rental library, Cinema Paradiso, from renting out any films copyrighted by MPA member companies. This development has resulted in several DVD rental outlets scurrying for permission from respective licencees. Indian companies lead at ad fest in New York: Several of the 40-plus finalist advertising entries from India at the New York Festivals 2006 have been converted to medals. Leading the Indian pack once more this year is JWT, with three gold and one silver world medals, while Mudra has in its kitty two silver world medals and two bronzes. Brand David and Rediffusion DYR scored one silver each, while Leo Burnett scored a silver and a bronze. Dentsu Marcom and Concept Communications are in the fray too. Anixter to distribute PowerDsine products: Ethernet solutions company PowerDsine has appointed Anixter India as a distributor to sell its products in the country. | |
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Dear Sir,
I came to know that your company expending and going to established offices in each district. I have a plot in Siwan (Bihar), Main Road just beside Escort Tractor Showroom on Babunia Road. If you like to established office in Siwan, Bihar then I can provide offices as per your requirement. Since Siwan is a business town of consumer Items and whole Sell Market of ladies cosmetic goods. Siwan is located near the border of U.P. and main railway line therefore all passengers come from Nepal and other neighboring districts of Bihar & U.P.
Therefore I request you to kindly consider my proposal and inform me.
With regards
M. Waheed
E-Mail: ccslko@gmail.com
Post a Comment
I came to know that your company expending and going to established offices in each district. I have a plot in Siwan (Bihar), Main Road just beside Escort Tractor Showroom on Babunia Road. If you like to established office in Siwan, Bihar then I can provide offices as per your requirement. Since Siwan is a business town of consumer Items and whole Sell Market of ladies cosmetic goods. Siwan is located near the border of U.P. and main railway line therefore all passengers come from Nepal and other neighboring districts of Bihar & U.P.
Therefore I request you to kindly consider my proposal and inform me.
With regards
M. Waheed
E-Mail: ccslko@gmail.com
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