Canara Bank Changes its Logo
Public sector banking in India is working overtime to catch up with the new jet set generation of today! Image overhauls are the call of the day with various public sector banks presenting a new look to appeal to the contemporary generation in India.
Bank customers are spoilt for choice these days. Foreign banks with their sophisticated images and hi-tech services make the competition stiffer. Next in line after Bank of Baroda and Jammu & Kashmir Bank, Canara Bank is all set for an image makeover! The upgrade is an attempt by the 100 year-old bank to retain and attract customers.
What does the new look of Canara Bank imply?
The new image of Canara Bank is reflected in its new logo – a blue and a yellow triangle interlocked. It is said to represent the strong bond between the bank and its customers – both within and outside the organization. The reinvented Canara Bank is focused on strengthening its customer base and improving relations with all its stakeholders – customers, employees, investors, institutions and society in general. The logo is accompanied by the new tagline ‘Together we can’.
Does the new image bring new ideas?
Nearly $3.8 million has gone into the re-branding process – what is the outcome? Apart from a new look, what else has changed for the bank? Are there new improved services for the young customer base including NRIs?
There are proposals to open overseas branches in 21 locations abroad – definitely a blessing for NRIs! Canara Bank has also issued Tier II bonds this month with an ‘AAA’ rating from CRISIL. A series of acquisitions may be in the pipeline followed by an increased stake in Can Fin Homes. The target is to attract an additional 10% business at the least from the 25 – 40 age group. The new logo was released in December 2007 so it’s early days yet to assess the impact of the makeover on the bank’s business. The immediate outcome though was a rise in its stock value on the exchange market!.
Same Article coud be found in www.window2india.com
Sunday, January 20, 2008
Wednesday, January 16, 2008
Hot Topic on India Inc.
Rel Power IPO subscribed 10.5 times
The mega initial public issue of Anil Dhirubhai Ambani group's Reliance Power became the largest ever in India after over-subscription of more than 10.5 times on its opening day on Tuesday.Offered at a price band of Rs.405-450 for 228 million shares at a face value of Rs 10 each, the issue invited bids for 2,397,558,825 shares, data available with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) showed. The issue closes on January 18.While institutional buyers were required to pay 10 per cent of the subscription money on application, retail investors had to pay Rs 115, which is around 25 per cent of the issue price.In addition, Ambani and his associates bought the promoters' stake of 32 million shares at Rs 450 per share on the opening day. Thirty percent of the 228 million shares have been reserved for retail investors at a discount of 5 per cent."Within minutes of its opening, the issue was fully subscribed and by the time it ended at 5 pm, the issue had been oversubscribed some 10.54 times," said a senior official at one of the lead book running firms for the issue.
Movement on bourses
The over-subscription came on a day when the 30-share sensitive index (Sensex) of the Bombay Stock Exchange shed 476.96 points, or 2.30 percent, at 20,251.09 points."It seems like people sold some stocks for the public issue," said an analyst with a leading brokerage here, as every index, including those for small-caps and mid-caps, on the BSE ended in the red.
Power generation:
Reliance Power proposes to use the funds to build power generation units across the country with the funds. As per company officials, projects worth 28,000 MW are in the pipeline."This is the largest portfolio of power generation within a geographical area or a group anywhere in the world," Ambani said earlier. The government envisages an addition of 80,000 MW in the 11th plan (2007-2012).The company, which is an associate of Reliance Energy, was in November awarded the 4,000-MW Krishnapatnam power project in Andhra Pradesh, with the lowest bid for a tariff of Rs.2.33 per unit among all qualified bidders. Another major project of the company was the 4,000-MW Sasan power project in Madhya Pradesh, awarded in August.
The mega initial public issue of Anil Dhirubhai Ambani group's Reliance Power became the largest ever in India after over-subscription of more than 10.5 times on its opening day on Tuesday.Offered at a price band of Rs.405-450 for 228 million shares at a face value of Rs 10 each, the issue invited bids for 2,397,558,825 shares, data available with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) showed. The issue closes on January 18.While institutional buyers were required to pay 10 per cent of the subscription money on application, retail investors had to pay Rs 115, which is around 25 per cent of the issue price.In addition, Ambani and his associates bought the promoters' stake of 32 million shares at Rs 450 per share on the opening day. Thirty percent of the 228 million shares have been reserved for retail investors at a discount of 5 per cent."Within minutes of its opening, the issue was fully subscribed and by the time it ended at 5 pm, the issue had been oversubscribed some 10.54 times," said a senior official at one of the lead book running firms for the issue.
Movement on bourses
The over-subscription came on a day when the 30-share sensitive index (Sensex) of the Bombay Stock Exchange shed 476.96 points, or 2.30 percent, at 20,251.09 points."It seems like people sold some stocks for the public issue," said an analyst with a leading brokerage here, as every index, including those for small-caps and mid-caps, on the BSE ended in the red.
Power generation:
Reliance Power proposes to use the funds to build power generation units across the country with the funds. As per company officials, projects worth 28,000 MW are in the pipeline."This is the largest portfolio of power generation within a geographical area or a group anywhere in the world," Ambani said earlier. The government envisages an addition of 80,000 MW in the 11th plan (2007-2012).The company, which is an associate of Reliance Energy, was in November awarded the 4,000-MW Krishnapatnam power project in Andhra Pradesh, with the lowest bid for a tariff of Rs.2.33 per unit among all qualified bidders. Another major project of the company was the 4,000-MW Sasan power project in Madhya Pradesh, awarded in August.
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