Despite the employment market being much better than 2008, employees are still cautious in changing their jobs.

Global crisis has made employees more loyal to their existing organizations.

They believe with positive attitude of management and active communication with staff, their firms have succeeded in making their workforce more engaged in spite of uncertainty.

Meanwhile, with the market condition improving, they will certainly get offers.

But, however, before shifting out they will consider sustainability at the organization.

As they prefer stability of jobs over higher monetary incentives, the downturn has led to a shift in career preferences of individuals.

However, the trend is expected to reverse, once companies start robust hiring activities and the shifting or job hopping will begin with the improvement in the job market.

Attritions are also expected to go up once again.

Hiring would definitely increase, especially in sectors like telecom and insurance.

Moreover, a survey by global workforce solutions provider Kelly Services also revealed that about 36% of the Indian employees surveyed, believe that the economic downturn had made them more loyal to their existing firms.

Earlier, Crisil Principal Economist Dharmakirti Joshi said that the Indian economy will boost in spite of a partial withdrawal of stimulus measures due to a bounce in demand.

He said that India’’s GDP growth will mostly rise to 7.5% to 8% this year in spite of the likely withdrawal of the government’’s stimulus measures along with tightening monetary policy.

Meanwhile, Finance Minister Pranab Mukherjee stated that the economic growth will increase in Q4 of the fiscal.

This will happen even as it declined to 6% in Q3 from around 8% in the preceding three-month period.

He said that he is confident that Q4 GDP will pick up.

Previously, Finance Minister Pranab Mukherjee expressed confidence the economy would soon break the double-digit growth barrier.

He also said that the stimulus measures will not be fully withdrawn until a massive recovery is achieved.

Due to the ambiguity prevailing in the developed economies, Mukherjee remained concerned over high food inflation and the uncertain nature of revival in exports.

The growth of the domestic economy will be 6.9 per cent for the current financial year, pegged by the leading economists in a survey conducted by the industry chamber Ficci, as the farm sector is expected to drag down the economy. The figure is much below the government projection of 7.75 per cent this fiscal.

The leading economists have also broadly opined that the exit of the stimulus measures should happen only in sectors which are showing strong growth.

Moreover, the survey predicts that agricultural growth would contract by 1 per cent in this financial year, but the industry would grow by 8.5 per cent while the services by a smart 9 per cent.

The Ficci Economic Survey Outlook, which was released stated “Leading economists, drawn mainly from the banking and financial sectors, have forecast the GDP growth for 2009-10 at 6.9 per cent, with agriculture growing at a negative 1 per cent, industry by 8.5 per cent and services by 9 per cent….”

The Maturity / Final Redemption Date of HDFC FMP 367D March 2009 (1) is on April 5, 2010. The trading of these units which are listed on the Capital Market Segment of the NSE will be automatically get suspended effective from March 29, 2010 and also no off-market transactions shall be permitted by the Depositories (NSDL / CDSL).

The government has set a disinvestment target for the current fiscal at Rs 1,120 crore However the government expected to get more than Rs 2,000 crore from the sale of 5 per cent equity in NHPC Ltd.

Moreover, Oil India Ltd is expected to hit the capital market next month. The NHPC offer closed last week and is expected to raise around Rs 6,000 crore. Along with this, NMDC and Coal India are expected to sell off equities in the coming months.

Besides this, the finance secretary also added that it would soon approach the Cabinet for amending the provisions of the National Investment Fund (NIF). The government under the disinvestment programme plans to retain a stake of 51 per cent in listed government companies. As a first step, the government will divest stake in those listed companies which have floating equity with less than 10 per cent, either through offloading its equity or through follow-on issues.

For divestment, around 15 PSUs had earlier been identified. Railway PSUs Rites and Icron along with NTPC Ltd had conveyed their unwillingness to go for the follow-on issue.

There are many reasons that are making India to emerge as an inviting destination for outsourcing drug production. A report by Ernst & Young and the Organization of Pharmaceutical Producers in India said that more than 80 per cent of the 38 big and medium-sized pharma companies across the world rated India higher than China, Eastern Europe, Puerto Rico, Singapore and Ireland.

E&Y expects that the Indian drug production outsourcing industry will increase more than 43 per cent annually, which will be three times of the global growth rate. Research agency Frost & Sullivan estimated this segment for the Indian industry to reach above $6.5 billion by 2013.

“Most of the top multinational companies prefer only 10-15 established Indian industry players for contract manufacturing. They will soon align with the second and third tier of Indian drug companies,” said Ajit Mahadevan, partner health sciences practice, E&Y.

1. Right Issue of Rs 23,75,00,000/-.

2. Re-Appointment of Managing Director subject to approval of Members of the Company at ensuing AGM to be held on August 31, 2009.

3. Increase in the Authorised Share Capital from Rs 30,00,00,000/- to Rs 35,00,00,000/-

4. Change in Object Clause of the Company.

5. Change in the Name of the Company.