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SunnyAugust 18, 2018
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4min00

In last 1 year, Nifty IT index has surged 42% with TCS, Infosys, Tech Mahindra and HCL Tech shares rising 60%, 55%, 60% and 14%, respectively. (Image: Reuters)

Indian equity markets have registered better growth in the last one year of trading as compared to most of the developed stock markets around the world such as America, Japan, China, Hong Kong and South Korea. The benchmark Sensex index has logged a return of a little more than 20% in the last one year and has outperformed NYSE’s Dow Jones Industrial Average and Japan’s Nikkei 225 which have gained 18% and 14%, respectively, in the same period. In the current year 2018 itself, BSE Sensex breached four psychological levels of 35,000, 36,000, 37,000 and 38,000.

In the corresponding last one year, many shares, be it large-cap or small-caps, have grown multifold and some of them have even doubled the money. We take a look at 10 IT stocks that have returned 100% in 1 year of the stock market trading.

100% returns: 10 IT stocks that doubled money in 1 year of stock market trading

Stock 1-Year Return (%)
NIIT Tech 168
KPIT Tech 157
L&T Infotech 137
Intellect Design 127
Infinite Computer 126
Sonata Software 125
L&T Tech 119
Mindtree 116
Mphasis 103
Sasken Tech 99

In the meantime, the benchmark Nifty IT index has surged 42% with heavyweight shares such as TCS, Infosys, Tech Mahindra and HCL Tech rising 60%, 55%, 60% and 14%, respectively, while shares of country’s third-largest IT company Wipro have declined nearly 3%.

Yesterday only, the S&P BSE Sensex finished 284.32 points or 0.75% higher at 37,947.88, 52 points away from 38,000. In the present year, Sensex has amassed 11.4% or 3,891 points to 37,948 from a level of 34,057 as on 29 December 2017. The 11% gain in eight-and-half-months in BSE Sensex has been largely driven by the heavyweight shares of TCS, RIL, Kotak Mahindra Bank, Infosys, HDFC Bank, Axis Bank, ICICI Bank and ITC shares.

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SunnyAugust 17, 2018
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4min00

The number of cyber attacks on banks, especially the smaller ones, is likely to double in the coming months, according to experts tracking the space.

“The rate of cyber crime is increasing by 10-12 per cent every year, and this year it is likely to rise further,” said Munjal Kamdar, Partner at Deloitte.

There are about 2,000 small banks in the country, including urban co-operative, district central co-operative banks, regional rural banks and small finance banks, and a majority of them do not have a dedicated risk management and cyber security team, thus making them more vulnerable than the large commercial banks.

Smaller banks at risk

He said that while bigger and sophisticated banks spend about 4 per cent of their total IT budget on cyber security and information, smaller banks do not spend much.

However, compared to the bigger Indian banks, lenders in North America and Europe spend about 6-10 per cent of their IT budget to thwart the rising incidents of financial crimes involving hackers.

He further added that with the banking system going digital, the “attack surface” has also increased. “The attacks can happen at the ATM, mobile, payment system, (or) SWIFT and banks need to automate their process,” said Kamdar, adding that banks should be ready with multiple lines of defence.

Mandar Agashe, Founder and Vice-Chairman, Sarvatra Technologies Pvt Ltd, said smaller banks should move to companies that provide payment systems infrastructure on a Platform-As-A-Service (PAAS) model.

The issue of cyber security assumes significance after Pune-based Cosmos Cooperative Bank witnessed a massive security breach when hackers siphoned off ₹94 crore through a malware attack. While the bank, one of the oldest co-operative banks in India, has not revealed the exact nature of attack, sources said a malware attacked the bank’s server.

The Cosmos incident is the second such incident of malware attack on a small bank this year.

Earlier this year, City Union Bank came under attack when cyber criminals transferred nearly $2 million through three unauthorised remittances to lenders overseas via the SWIFT financial platform.

“Criminals follow the money, so banks face significant threats, and it’s not realistic to prevent every single attack from succeeding. We encourage banks to ensure they don’t just cover the basics but that they thoroughly understand the threats they face and stop these threat actors. This requires actionable threat intelligence,” said Shrikant Shitole – Senior Director and Country Head for India, FireEye, a cyber security solution provider.

According to a recent survey by content delivery network services provider Akamai, India ranked fourth in the list of the top 10 target countries for Web Application Attacks.

Another report shared by the Indian government mentioned that about 53,000 data and security breaches were reported last year across financial and government institutions.

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SunnyAugust 15, 2018
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1min50

How much pocket money should
you give your children? It all depends on the family’s circumstances
and how much the parents can afford to give their children every week.

Children develop their habits and attitudes
with regard to money from their parents, and how money is managed at home.

Martin Bester gives adults the opportunity
to pocket cash in the R100,000 ‘Secret Sound’ every morning, but what about the
kids?

READ ALSO: Martin’s R100k Secret Sound: List of incorrect guesses

Martin thought it would be incredible to double or maybe even triple their pocket money!

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SunnyAugust 14, 2018
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4min50

A $1.5 million project to modify verandas along Dominion Rd for double-decker buses is a waste of money when modern trams may be only a few years away, says the local business association.

Auckland Transport is planning modification work on 25 verandas to cater for double-decker buses, which are being rolled out on services from Lynfield, Blockhouse Bay and the Mt Roskill shops to the city via Dominion Rd.

The double-deckers will provide capacity for 300,000 extra passengers a year along Dominion Rd, the busiest bus route in Auckland after the Northern Express, an AT spokesman said.

“We need more capacity on this route and double-decker buses allow us to increase passenger numbers without adding to congestion.

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“Clearance work is required along Dominion Rd in order to provide a safe passage for these buses,” he said.

The plan to remove and shorten verandas is not supported by the Dominion Road Business Association, says chairman Chris Hammonds.

He said AT canned an earlier project to realign bus stops and add pedestrians crossings because light rail – a modern version of trams – is planned down Dominion Rd as part of the city centre to airport route.

Now it appears AT appears to be wasting a lot of money modifying verandas on 25 buildings, some of which are heritage buildings and earthquake prone, which could cause some damage and liability for ratepayers, Hammonds said.

Gary Holmes, manager of the Dominion Road Business Association.
Gary Holmes, manager of the Dominion Road Business Association.

Association manager Gary Holmes said he understood the rationale for modifying the verandas “but why go to all the expense if you are going to change it all again in a very short timeframe”.

AT is about to go out to the market for the work, which is expected to cost about $1.5m, the spokesman said.

The New Zealand Transport Agency, which is overseeing Auckland’s $6 billion light rail programme for two lines from the CBD to the airport and the CBD to West Auckland, supports the introduction of double-decker buses and veranda modifications, said its general manager system design and delivery Brett Gliddon.

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