Volume 1 | Issue 1
homecoming FOR INDIANS ACROSS THE WORLD
M AY 2 0 1 2
A MaXposure Media Group Publication
M oney M antra S pice S aga Wellne s s Diar y A r t M ontage Welcome H ome
Royal Calling
Indian luxury journeys
NRI SERVICES
contents 04 money mantra
An insight into the Indian and global market trends and expert advice
Dear Reader,
Axis House, 3rd floor, C-2, Wadia International Centre, P. B. Marg, Worli Mumbai-400025 India Tel: +91.22.24256333 www.axisbank.com
What is it that you miss the most as an Indian staying away from your country? Your loved ones, cuisine, culture – everything that makes you yearn for your homeland. As a step to bring you closer to home, Axis Bank NRI Services has especially crafted a magazine for you to stay connected to your roots.
Published by: MaXposure Media Group India Pvt. Ltd. Publisher & COO: Vikas Johari CEO & Managing Director: Prakash Johari CFO: Kuldip Singh Features Editor: Nidhi Raj Singh
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welcome home
Indian luxury rail journeys are incredible as they let the travelers explore destinations at their own sweet pace
We are pleased to present to you the very first edition of Homecoming – a monthly online magazine for NRIs. With this magazine, we invite you to embark on a journey that connects you to the Indian kaleidoscope. The magazine has features on Indian luxury train journeys, 100 years of Bollywood, Ayurvedic detoxification and Indian spices. These stories will help you take a closer glance at India in its ancient as well as modern avatar.
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The magazine also has a dedicated section on the Indian and world market scenario, Money Mantra where Axis Bank Investment Advisory team helps you make informed investment decisions. The sections on markets, stock ideas and mutual funds update you on investment and finance trends. Our expert for this edition, Sankaran Naren shares his viewpoint on the Indian economy, FII inflows, global market conditions from an investment standpoint and more.
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art montage
It's been 100 years of Bollywood; it is still going strong and has gone global too
We will be delighted to receive your feedback and suggestions that will help us serve you better.
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wellness diary
Panchakarma, the Ayurveda detoxification is the answer to many modern day ailments
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Rights: Axis NRI magazine printed and published by Vikas Johari on behalf of MaXposure Media Group India Pvt. Ltd. (MMGIPL) for Axis Bank and published at MMGIPL, Unit No. F2B, Second Floor, MIRA Corporate Suits, Plot No. 1&2, Ishwar Nagar, Mathura Road, New Delhi - 110065 Tel: +91.11.43011111, +91.11.47411100
spice saga
Reprints as a whole or in part only with the written permission of the publishers, quoting “Axis NRI magazine” for texts and pictorial material. No responsibility can be taken for the loss of unsolicited manuscripts, photographs or artwork. The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of MMGIPL or Axis Bank. All efforts have been made while compiling the content of this magazine, but we assume no responsibility for the effects arising there from. MMGIPL does not assume any liability for services or products advertised herein Axis NRI magazine India is distributed to all Axis Bank NRI customers abroad. Axis NRI magazine appears monthly.
A lot is happenning at the bars with mixologists using Indian spices to give twist to classics
2 | AX I S N RI | MAY 2012
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MAY 2 012 | A X I S N RI | 3
M o n ey M an t r a F eedba ck
World in Charts
Market Updates Indian stock market is having a mixed experience after a smooth beginning this year. With many sectors gaining and some registering loss, the experts are still optimistic.
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The BSE Sensex lost 0.5% during the month of April amidst aggressive 50 bps rate cut by RBI, largely in-line Q4FY12 results and IMD’s forecast of normal monsoon. While the mid-cap index lost 0.5% in-line with the Sensex, the small-cap index outperformed both the indices with a 2% gain during the month. Defensive sectors continued to remain in the limelight with FMCG and Healthcare registering 6.2% and 2.6% gains respectively. Auto index too gained 5% during the month. IT and Teck indices were major losers with 6-7% correction due to disappointing Q4 performance and guidance by Infosys. Capital goods, Realty and Power continued its downtrend with declines of 6.8%, 4.7% and 3.8% respectively. On the Fixed Income markets front, after RBI surprised the debt markets with a deeper than expected 50 bps cut in Repo rate, 10Y G-Sec rallied to 8.36% from 8.45%. The rally, however, was short lived after official statements that room for further easing was limited. Call rates still remain 30-35 bps higher over the repo, signaling the still tight liquidity conditions. As expected, Liquidity Adjustment Facility (LAF) borrowing by Banks has eased to an average of Rs 1,005 bn in April, from Rs 1,567 bn in March. This is still above 1.5% of Net Demand and Time Liabilities (NDTL), breaching RBI’s comfort zone of +/-1% of NDTL. 1Y CD rates have eased to 9.65% (as of
4 | AX I S N RI | MAY 2012
Keep an eye on how the Indian economy indicators have performed vis a vis world economies with these analytical charts. Crude Oil
Gold
Currency Performance 1
Currency Performance 2
22nd Apr) from a high of 10.85% during mid-March. 3M CD rates have corrected even more sharply from 11.50% in March to 9.20% currently. Banks’ investment in Mutual Funds has reduced considerably to Rs 245 bn in April from Rs 1,100 bn during same period last year. On the equity side, overall from a valuations standpoint, the equity markets continue to look attractive from a medium to long term perspective. However currently there are some headwinds like government inaction towards reforms and fiscal consolidation, low expectations of further rate cut by RBI, deteriorating global economic outlook and decline in risk appetite among global investors leading to reversal in FII flows etc. Hence, we have revised our outlook on equity from 'Neutral' to 'Marginal Underweight'. Our expected Sensex target for April -2013 is 19,600 which translates to expected returns of 13.2% p.a. from equities over the next 12 – 18 months. On a market capitalization basis, we are relatively overweight on small-caps as compared to mid-caps and large-caps. On the sectoral front, we are overweight on Pharma and Infrastructure. On the debt side, the yield curve is currently inverted and we expect yield curve to steepen. This would benefit shorter end rates which could see a fall. This provides investors the opportunity to lock-in investments at a higher yield and also to benefit from capital appreciation
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Bombay Stock Exchange
Inflation in major economies
Policy Rates
as yields ease going forward. On the longer end of the yield curve, the continuous supply of sovereign paper and announcement by RBI of very little scope for further rate cuts, has put pressure on the longer end of the curve and led to sharp selloff in government bonds in recent past. We view that investors can look at taking tactical exposure in long term G-sec funds at 8.65% to 8.75% levels and redeem if yields ease off to 8.15% to 8.25% levels on the back of announcement of OMOs or any indication of further rate cuts.
Equity Market Performance 1
Equity Market Performance 2
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MAY 2 012 | A X I S N RI | 5
M o n ey M an t r a F eedba ck
Mutual Funds Performance
Mutual Funds Trends
Here's a lowdown on performances of various segments such as equity, diversified and debt funds.
We keep you posted on the market trends and performances in various categories. Category Performances (as on end-Apr-12)
Data Source: AMFI, Axis Bank Research
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The charts above show the AUM generated and NFO mobilisations across the whole of FY12. The key highlights are: 1. At Rs 587,217 crores, March 2012 was the worst month in terms of AUM. It fell below the 6 lac crores rupees mark for the first time this FY. The fall was to the tune of 13.04% M-o-M. When compared on a Y-o-Y basis though, the fall was not too large at Rs -5,033 crores. 2. The net new inflows/outflows (i.e. purchases net of redemptions) too were at its worst for this FY at Rs -83,765 crores. The largest contributors for this were liquid/money market funds (Rs -76,537 crores) and income funds (Rs -7,654 crores). The net new flows ended the year with a negative flow of Rs 22,023 crores, with income funds contributing the most to this decline at Rs -18,528 crores.
3. Equity linked savings schemes saw a waning of interest this FY; the net new flows for the month of March-12 at Rs 267 crores was less than half that of March-11 (Rs 576 crores). Lower purchases and higher redemptions were responsible. 4. Liquid funds kept the trend of ‘net’ outflows in the last month 6 | AX I S N RI | MAY 2012
Equity Funds Performance
Return (%) 1 Month
DEBT Gilt LT Dynamic Bond Income LT Income ST Liquid Ultra ST Conservative Gilt ST Ultra ST Moderate EQUITY Index Large Cap Diversified Mid Cap ELSS Sectoral Banking & Financials Infrastructure Pharma FMCG Technology GOLD Gold ETF Gold Funds HYBRID Balanced MIP - Aggressive MIP - Conservative
0.38 0.87 0.89 0.95 0.85 0.89 0.60 0.92
1 Year
Large Cap Funds
6.93 9.66 9.06 9.26 9.03 9.16 6.96 9.05
-1.03 0.33 -0.92 0.90 -0.22
-8.48 -6.99 -7.12 -1.89 -5.42
-0.14 -3.27 2.33 5.46 -4.37
-10.27 -16.39 5.35 24.02 -6.36
2.80 2.98
30.31 27.64
0.02 0.64 0.70
-1.34 6.80 6.91
of every quarter, this March too; the net new flows for this category stood at Rs 76,537 crores. Incidentally, this also happens to be their worst month this FY. 5. The net new flows in Gold ETFs ended the FY with an inflow of Rs 3,646 crores. Net flows were positive for 11 out of 12 months, the sole exception being the month of November 2011. The AUM for gold ETFs too portrayed a similar trend with the AUM rising for 11 out of 12 months this FY.
Scheme Name
NAV
Diversified Funds Compound Annualized 1 Yr
3 Yr
5 Yr
Other Attributes AUM
Std. Dev.
Sharpe Ratio
Expense Ratio
Of the 157 NFOs launched, 153 were Fixed Maturity Plans (FMPs) which garnered an AUM of Rs 36,254 crores. F eedback
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NAV
Compound Annualized
Std. Dev.
Sharpe Ratio
(7.2)
20.2
9.6
2,806
35.9
0.5
1.9
Axis Equity Fund
10.4
(6.1)
N.A.
N.A.
611
N.A.
N.A.
2.5
(5.3)
23.2
N.A.
2,246
35.4
0.6
1.9
99.4
(2.5)
19.5
10.7
2,870
28.8
0.6
1.9
DSP Black Rock Equity Fund
15.9
DSP Black Rock Top 100 Equity Fund
(9.3)
26.8
11.4
9,179
44.1
0.6
1.8
207.9
(4.7)
20.9
9.6
4,066
32.6
0.6
1.8
HDFC Equity Fund
259.5
Franklin India Bluechip Fund
(5.2)
22.3
9.2
3,962
33.4
0.6
1.8
199.2
(7.4)
22.7
12.2
10,537
37.5
0.6
1.8
ICICI Prudential Dynamic Plan
104.1
HDFC Top 200 Fund
12.4
(6.2)
16.6
N.A.
809
29.1
0.5
2.1
UTI Opportunities Fund
28.2
1.7
24.5
14.9
2,385
33.3
0.7
1.9
3 Yr
5 Yr
AUM
Expense Ratio
(9.5)
16.8
5.1
Index
Index BSE Sensex
1 Yr
Other Attributes
82.9
(9.4)
14.9
BSE-200
4.5
Debt Funds Performance MIP Funds Scheme Name
NAV
Compound Annualized 1 Yr
Other Attributes
2 Yr
3 Yr
AUM
Std. Dev.
Sharpe Ratio
Expense Ratio
Avg Mat. (Yrs)
YTM
Axis Income Saver
10.8
3.8
N.A.
N.A.
240
2.1
(1.0)
2.3
1.0
N.A.
Birla Sun Life Monthly Income Plan II - Wealth 25 Plan
19.0
5.8
5.6
9.1
285
8.6
0.7
2.1
N.A.
10.1
Birla Sun Life Monthly Income
39.1
6.3
6.5
8.9
539
6.4
0.9
2.0
N.A.
9.9
DSP BlackRock MIP Fund
21.3
10.4
7.6
10.6
189
6.0
0.8
2.1
1.8
N.A.
Reliance Monthly Income Plan
23.5
7.3
7.0
10.7
5,182
10.1
0.9
1.5
4.4
9.7
5.6
5.5
7.0
AUM
Std. Dev.
Index Crisil MIP Blended Index
Ultra Short Term (Conservative) Funds Scheme Name
NAV
Simple Annualized 3 Months
6. The total NFO mobilisation was to the tune of Rs 36,361 crores. This number is the highest for this FY both in terms of number of funds as well as mobilisation in Rs crores.
Scheme Name
Birla Sun Life Frontline Equity Fund
Reliance Top 200 Fund
Data Source: AMFI, Axis Bank Research
Category
Axis Treasury Advantage Fund
1171.4
Birla Sun Life Savings Fund
9.2
6 Months
9.0
CAGR* 1 Year
9.0
Other Attributes 1,591
0.4
Sharpe Ratio
8.1
Expense Ratio Avg Mat. (Days)
1.2
YTM
47.5
N.A. 11.3
200.5
9.8
9.5
9.4
5,318
0.9
4.3
0.3
N.A.
HDFC Cash Management Fund - Treasury Advantage
23.3
9.8
9.2
9.0
16,667
1.1
3.3
0.7
82.0
N.A.
Kotak Floater - Long-Term
17.2
9.3
9.3
9.5
2,794
0.9
4.4
0.5
124.1
10.8
Reliance Medium Term Fund
22.4
9.7
9.3
9.3
2,868
2.7
1.4
0.6
236.0
10.5
9.1
8.9
8.6
Index Crisil Liquid Fund Index
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MAY 2 012 | A X I S N RI | 7
M o n ey M an t r a
Stock Ideas
Talking Profit
A company's profile and performance says a lot about its market value. We bring to you the valuation on two companies from different sectors.
HDFC BANK LTD. HDFC Bank is India’s second largest private sector bank in terms of asset size and Network. It ranks third amongst all banks in terms of market capitalization, after SBI and ICICI Bank. Towards the end of March 2012, HDFC Bank’s Balance Sheet size was Rs.3379.1 bn, deposits stood at Rs.2467.1 bn and advances stood at around Rs.1954.2 bn. HDFC Bank currently operates through a network of 2544 branches. HDFC Bank has a track record of delivering consistent and robust growth in earnings. It has a strong retail franchise with extensive branch network and diversified product offering. It has good
Valuation Table CMP Year to 542
Adjusted BV
BV P/ growth ABV
31-Mar
(Rs)
(%)
(x)
2012
126.0
2013E
147.0
16.7%
3.7
2014E
173.0
17.7%
3.1
4.3
scope for earning higher fee income through cross-selling of products of group companies’ viz. HDFC Standard Life, HDFC AMC and HDFC Securities. HDFC bank can boast best in the industry CASA ratio (~48.4%). Its pricing power and high CASA ratio
have contributed to high NIM of 4.20% (FY12), historically one of the best in the industry. HDFC Bank is well capitalized with comfortable capital adequacy of 16.50%. It has a sound asset quality track record with low Net NPA ratio at 0.20%, which is lower than many peers in the private sector. Valuation: HDFC Bank has been trading at a premium to the other banks, private and public sector, due its consistent and strong performance over the years. We assign FY13E P/Adjusted BV (Rs.147/ share) multiple of 4.1x FY13E BV and 3.5x FY14E BV of Rs.173 / share and arrive at a price target of Rs.610.
JAGRAN PRAKASHAN LTD. Jagran Prakashan (Jagran) is a leading media house which publishes Dainik Jagran, India's largest read daily with a total readership of 55.27 million readers (IRS 2011 Q3). Established in 1942, Dainik Jagran is published in 100 editions across 15 states. Jagran has also diversified into I-Next (Hinglish tabloid), City Plus (English weekly), 'Out of Home', event management and portal services. Jagran enjoys strong brands, robust market shares (in its core Hindi speaking belt) and a differentiated marketing strategy across segments. It’s strategy involves expansion across newspaper verticals, to tap into varied population 8 | AX I S N RI | MAY 2012
Valuation Table CMP
Year to
Diluted EPS
EPS growth
P/E
98
31-Mar
(Rs)
(%)
(x)
2012E
6.0
16.3
2013E
8.0
33.3%
12.2
2014E
8.0
0.0%
12.2
demographics and reading habits. Due to its strong brands in the Hindi speaking belt, the company enjoys the support of local advertisers, which results in higher advertisements as well as circulation
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revenues, relative to peers. Despite aggressive competition, Jagran continues to be dominant, while other players such as Amar Ujala and Aj have lost readership. Valuation: The stock is currently valued at 12.2x FY14E EPS of 8.0 which in our view looks quite attractive considering the dominant position Jagran enjoys in its key markets. We value the stock at Rs.115 which discounts the stock at 14.4x times FY14E EPS of 8.0. F eedback
Sankaran Naren is the CIO, Equity with ICICI Prudential AMC Ltd. Naren joined ICICI Prudential AMC in October 2004.
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What are your views on the Indian equity markets going forward? We believe that markets will still continue to be volatile and will be driven by flows, global oil prices or domestic triggers like government execution of the budget blueprint , pass through of oil prices and monsoons etc. Hence the only clear direction is that of volatility. While there are challenges abound, positive cues continue to provide optimism. Factors like moderating inflation and a downward interest rate bias from here on. Therefore, the Indian economy in 2012 can continue to deliver on growth, albeit we are able to leverage on our positives and demonstrate affirmative action and execution. The market will require the government to take the fiscal consolidation roadmap ahead with possible increase in oil/ petrol prices without which the fiscal deficit scenario will have no resolution. Until then we continue to look for triggers like global crude prices correcting and increase in diesel and petrol prices to increase allocation to equity. Do you see FIIs continuing to put money into the domestic market going ahead? How is India placed amongst its emerging market peers? India has always been a frontrunner on growth and slight moderation of growth does not mean that there are significant concerns that cannot be addressed. Opportunities still continue to exist
and it is just a matter of seizing those opportunities. On the flows side, flows depend on various factors like relative valuations and risk perspective. We believe that the FIIs continue to believe in the India story but are clearly looking for cues like our ability to demonstrate affirmative action on reforms and execution speed. Therefore policy initiatives towards some pass through of oil prices, increased spending on infrastructure development, divestment etc has the potential to provide
While challenges abound, positive cues continue to provide optimism significant impetus to the market and FII sentiment as well. What is your view on global markets and the current state of the economy? Also, how do you view these markets from an investment standpoint? Europe continues to grapple with issues and is still in the midst of debt crisis. On the other hand the US markets have been demonstrating strong signs of growth We believe that today, there are fewer challenges in the US than in other parts of the world, and solutions to key
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macroeconomic issues are closer on the horizon. This apart, the US corporates are cash rich, innovative and entrepreneurial and 3% dividend yield versus 0% bond yield makes it very interesting for investors. All these factors make US markets attractive from an investment standpoint in the current context. What would you currently advise to the retail investor with fresh money to invest? We have been for a while recommending that investors look at volatility as the new asset class. With yet no clear resolution on the fiscal deficit problem and status quo on fuel prices, volatility is the only given. We therefore believe that funds that help capitalize on volatility like Dynamic Funds and the Volatility advantage fund are best suited for investors. We therefore believe that the three themes that will help investor with risk adjusted returns over the next year will be volatility, value and asset allocation. Sankaran Naren oversees the equity investments across the Mutual Fund and International Advisory Business. He is instrumental in overall equity investment strategy development and execution. He also directly manages the ICICI Prudential Dynamic Plan and the ICICI Prudential Top 100 Fund. He has obtained a B.Tech from IIT Chennai and finished his MBA in Finance from IIM, Kolkata. His earlier stints have been with financial service organizations like Refco Sify Securities India Pvt. Ltd., HDFC Securities Ltd. and Yoha Securities in various positions prior to joining ICICI Prudential. F eedba ck MAY 2 012 | A X I S N RI | 9
No Rush
We l co m e H o m e
Ever dreamt of opening your eyes to a new destination, every morning amidst the best of luxuries and exploring the gem called India at your own sweet pace? If yes, then come along as indulgence on the wheels is calling. words nidhi raj singh
A r t M o n t a g e
Market updates aside, we take you to witness Indian glory at its best!
L-R: Breathtaking Journeys; Suite of Royal Rajasthan On Wheels; Rang Mahal restaurant on Maharajas Express; The Golden Chariot Gym (Images Courtesy www.indianluxurytrains.com)
W We lln e s s Di ar y
With conveniently crafted itineraries, the luxury train is a fascinating way to explore your homeland. Travel by the night and explore a new destination by the day, all this without the hassle of packing and unpacking. Welcome onboard the luxury trains of India.
S p i c e S a g a
Palace On Wheels
10 | A X I S N RI | MAY 2 012
Voted among the world’s best luxury trains, Palace on Wheels is India’s most revered luxury train. In operation since 1982, it offers itinerary to the royal destinations in the land of erstwhile Maharajas. The tour from Delhi to Agra let you discover and explore the myriad colors of Rajasthan even as you are accorded royal treatment and traditional Indian hospitality in the interiors suffused with nostalgia. The next scheduled departure is from September 2012 onward. USP: It is the most authentic and longest running luxury train tour in India.
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Coaches: The luxury starts right from the moment you step into one of the 14 guest carriages, each named after provinces of Rajasthan such as Alwar, Bharatpur, Bundi, Jaipur, Jaisalmer, Jodhpur, and Udaipur etc. Itinerary: Delhi - Jaipur - Ranthambore - Chittorgarh - Udaipur - Jaisalmer Jodhpur - Bharatpur - Agra - Delhi (7 Nights / 8 Days)
The Deccan Odyssey Of various ways to unfold the glorifying history of Marathas, Deccan Odyssey train tour is a course to explore the mesmerizing terrains of Konkan and Deccan region along with a halt in sun and sand paradise, Goa. A journey spanning over 168 hours includes a dash of culture, leisure and heritage mixed with the opulence of tastefully decorated interiors and impeccable hospitality. Often compared to the likes of the Blue Train of South Africa, this luxury train showcases
the best of tourism assets of Maharashtra like pristine beauty of Konkan coast, culture, heritage, crafts and cuisine. The next scheduled departure is from December 2012 onwards. USP: Onboard, you can pamper yourself at the spa and work out at the gym. Coaches: Choose from 11 guest carriages that includes two presidential suite and dine at dining cars named Peshwa I and Peshwa II. You can relax at Mumbai Hi, the lounge bar or have your meetings in the conference car. Itinerary: Mumbai - Sindhudurg Tarkarli - Goa/Vasco - Kolhapur - Daulatabad - Ajanta - Nashik Mumbai (7 Nights / 8 Days)
Maharajas’ Express The latest luxury offering in India with five pan-Indian itineraries across some of
the most prominent destinations across India, Maharajas Express has set a new benchmark when it comes to luxury train traveling. With state-of-the-art amenities that money could buy and technology could offer the journeys unravel the incredible Indian kaleidoscope. USP: It offers experience previously unheard of in luxury train journey, unlike any other in its genre. Coaches: Live your dream with the option of choosing from 14 guest carriages which include 20 deluxe cabins, 18 junior suites, four suites and one presidential suite. Itinerary: Treasures of India: Delhi - Agra Ranthambore - Jaipur - Delhi (3 Nights and 4 Days) The Heritage of India: Mumbai -
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Ajanta - Udaipur - Jodhpur - Bikaner - Jaipur - Ranthambore - Agra - Delhi (7 Nights / 8 Days) The Indian Splendor: Delhi - Agra - Ranthambore - Jaipur - Bikaner - Jodhpur - Udaipur - Balasinor – Mumbai (7 Nights / 8 Days) The Indian Panorama: Delhi - Jaipur - Ranthambore - Fatehpur Sikri - Agra - Gwalior - Orchha - Khajuraho Varanasi - Lucknow - Delhi (7 Nights / 8 Days)
Royal Rajasthan On Wheels A royal train journey unraveling the vibrant colors of Rajasthan and romance of Rajputana dipped in sheer opulence along with spiritual and cultural rendezvous at Varanasi and Khajuraho – this is your Palace of Wheels vacation. Every Sunday, the luxury train chugs out of Safdarjung Railway Station in New Delhi on a weeklong voyage to explore the length and MAY 2 012 | A X I S N RI | 11
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Travel by the night and explore a new destination by the day, all this without the hassle of packing and unpacking Coaches: The romantic vacation includes staying in one of the 14 carriages with 41 elegantly appointed cabins categorized as Bravura Suite and Extraordinary Suite. Savour scrumptious meal at the dining cars named Sheesh Mahal and Swarna Mahal. Itinerary: Delhi - Jodhpur - Udaipur Chittorgarh - Sawai Madhopur - Jaipur - Khajuraho - Varanasi - Agra - Delhi (7 Nights / 8 Days)
The Golden Chariot
The Deccan Odyssey (www.indianluxurytrains.com)
breadth of India’s desert kingdom along with halts at Varanasi and Khajuraho to explore the royal, cultural and spiritual facets of India. The state-of-the-art ambience and warm hospitality are an integral part, suffused with an old world charm of its own. The next scheduled departure is from October 2012 onwards. USP: Son-et-Lumiere Show at Chittorgarh Fort, tryst with tigers at Ranthambore National Park and romantic boat ride in Lake Pichola in Udaipur are lined up for you.
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With its two tastefully crafted itineraries – ‘Pride of the South’ and ‘Splendor of the South’, the The Golden Chariot offers tours across some of the most culturally and visually illuminating destinations in South India. The train is designed to imbibe the cultural ethos and traditions of the South India and comes equipped with state-of-the-art amenities which include restaurants, business center, gymnasium and a spa carriage. The next scheduled departure is from October 2012 onwards. USP: A gymnasium and a conference car make it a complete vacation for the discerning travellers. Coaches: You have a myriad of sating options to choose from the 26 twin beds, 17 double bed cabins and 1 cabin for the physically challenged. Dine and wine at two restaurants named Nala and Ruchi as well as Madira, the bar.
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Pride of The South: Bangalore Kabini - Srirangapatnam - Mysore Sravanabelagola - Belur - Halebid Hampi - Badami - Pattadkal - Goa (7 Nights / 8 Days)
The Indian Maharaja The winner of the World Travel Award in the category of Asia's Leading Luxury Train for two year in a row, it offers a heady mix of enchanting landscapes, wildlife, monuments and golden desert to acquaint you with the history of royal India. With its two itineraries - Delhi to Mumbai and Mumbai to Delhi – it takes you through the landscapes of Rajasthan, Maharashtra and Uttar Pradesh. The next scheduled departure is from October 2012 onwards. USP: India’s first privately managed train to whisk you into a royal epoch in unparalleled opulence Coaches: 11 aesthetically designed passenger cars including two presidential suites, two dining cars, a conference car, a spa car and a gymnasium car Itinerary: Mumbai - Aurangabad Udaipur - Sawai Madhopur - Jaipur - Fatehpur Sikri - Agra - Delhi (7 Nights / 8 Days) For more information on packages and itineraries please log on to www.indianluxurytrains.com F eedback Disclaimer: The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of publisher or Axis Bank.
A r t M o n t a g e
Lights, Camera, Bollywood
in almost every other movie. The period could be categorized as a lean one for Bollywood that witnessed set formula films. However, comedies such as Khoobsurat (1980) and social-stigma turned poetic saga like Umarao Jaan (1981) were like breathe of fresh air and also made Rekha the nation’s heartthrob.
It was on April 21, 2012 when the cult called Bollywood became a century old with Dada Saheb Phalke’s movie Raja Harishchandra turning 100. We wonder what makes it click.
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Bollywood observers have been fascinated with it, fans across the globe have raved about it and critics have secretly applauded it. Indian cinema that was sadly christened Bollywood after its western counterpart, is a charmer in its own league. Bollywood has the major share among the 1000 odd films made every year in India, in languages as diverse as the culture of this country. The latest being Byari, a film with a meager budget of Rs 70 lakh made in 'Beary' language spoken by a very small population in South of India. What has made Bollywood a proud part of the pop culture is majorly its portrayal of the larger than life personalities and their fairytale lives. However, Bollywood has also evolved with the times, from religious crowd-pullers to mindless action flicks, from social melodramas to teen love stories and latest being films targeting NRIs. While the western movies are specially tagged ‘musicals’ when they feature songs and dance, Indian cinema is almost synonymous with song, dance, music and celebration. If 20s was about silent movies with portrayal of gods on screen, the 30s was the era of talkies. With the first Indian talky Alam Ara released in March 1931 changed a lot in the Indian cinema. After a brief period of bold scripts, 40s gave
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The 90s was a u-turn from what Bollywood has ever been known for. Grand films, grander sets and skyrocketing budgets entered the industry. Movies like Dilwale Dulhaniya Le Jaenge made a strong connection with the Indians settled abroad and raised interest in Bollywood masala movies worldwide. After experiencing bouts of lean time and wasted talents, this scenario however is slowly, but surely changing as our grand old industry is churning out films with some out-ofthe-box plots such as Tare Zameen Par, 3 Idiots, Kahaani, Paan Singh Tomar, Dev D, Udaan and more. Tables are turning too with the original plot of Kahaani being considered for a Hollywood remake. Young directors such as Anurag Kashyap, Dibakar Banerjee, Tigmanshu Dhulia, Shoojit Sarkar and Vishal Bhardwaj creating magic. Looks like the era of films by Satyajeet Ray can relax now. The new kid is on the block to give Indian cinema that much needed recognition the world over.
way to candy-floss, feel-good, song-dance routine films. The 50s was definitely the golden period of Indian cinema. Not only the directors dared to be different with their path-breaking stories but films also put the spotlight on the common man. From gods to gods of small things, Indian cinema saw some brilliant work from thinking directors like Satyajeet Ray, Guru Dutt, Bimal Roy and veteran actors such as Nargis, Meena Kumari, Madhubala, Dilip Kumar and Rajendra Kumar, who helped these scripts come to life, convincingly. 1960s saw the grandest movie epic in Mughal-e-Azam. 70s was like a new birth for Bollywood as it applauded some of its very first superstars, blockbuster hits and greatest comedies of all time. While Dev Anand, Rajesh Khanna and Dharmendra charmed their ways into every woman’s heart, Waheeda Rehman, Sadhna and Asha Parekh, later Hema Malini became fashion icons. And then came the mother of all hits, Sholay released in 1975 that broke all box-office records and popularity surveys and doing so, even today. It also made masala movies the next big thing in Bollywood. This period also had the best of comedies to boast such as Chupke Chupke (1975) and Khatta Meetha (1978). Indian cinema in 80s was yet again struck by the formula films where love affair between a rich heroine and poor hero was the subject
Bollywood is an epic in itself that adds a new chapter every decade. It is definitely not possible to write about this mother of the entertainment industry in a limited number of words. However, it will be written passionately about. And, we are here to celebrate its every milestone. F eedba ck Disclaimer: The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of publisher or Axis Bank.
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We lln e s s D i ar y
Detox, The Ayurveda Way Wondering how an ancient science of life can hold significance in the modern times? Read on as Dr. Aashish Phadke answers your question.
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Today’s fast paced lifestyle comes with its side-effects as it takes a huge toll on our physical and mental well-being. Experts suggest detoxification, i.e. a complete cleansing of the system. But, with several ‘detox fad’ doing the rounds in well-being corridors, it becomes a job unto itself to select what is best for both body and soul. This is where Ayurvedic detoxification or ‘Panchakarma’ comes in. It is a set of five (pancha) procedures as mentioned in the scriptures of Ayurveda to detoxify the body, almost like turning the clock back to start afresh. But, before we understand Panchakarma, we need to know what Ayurveda is.
according to Ayurveda, he will have the blessing of a completely healthy life.
Ayurveda – The Science of Life
In the treatment modalities, Ayurveda classify therapies as shaman chikitsa and shodhan chikitsa. Treating elevated vitiated doshas with medications is termed as shaman chikitsa. However, if a symptom could not be treated even after trying again and again with medicines, then one needs to remove those excess doshas from the close routes, may be through mouth (in the form of vomiting or vamana) or through purgation (virechana) or with the help of enigma (basti) or through nose (nasya) or through bloodletting (rakta mokshana). These five ways of removing excess of vitiated increased doshas are termed as Panchakarma therapy or Shodhan therapy.
Like any other form of medicine and well-being, Ayurveda is also shrouded with myths. The most common myth is that Ayurveda is just herbal treatment, some kind of home remedies. Some also believe that Ayurveda is just about treating diseases with metallic residue or medicines (bhasma). The term ‘Ayurveda’ is made of two Sanskrit words ‘ayu’ meaning life and ‘veda’ meaning science of or knowledge of or study of. It is, thus actually a branch of science that deals with how to lead a healthy life. The most important aspect of Ayurveda is that it is a preventive system. If a person leads his life 16 | A X I S N RI | MAY 2 012
According to Ayurvedic philosophy and patho-physiology, our health is maintained because of an equilibrium of our doshas ( bio humors / bio forces) that are vata, pitta and kapha, dhatus (seven vital tissues such as rasa (lymphatic), rakta (blood), mamsa (muscles), meda (adipose tissue or fats), asthi (bones), majja (bone marrows or nervous tissue) and shukra (reproductive tissue), malas (excretory waste metabolites) such as purish (stool), mootra (urine) and swead (sweat ), agni (digestive fire and blissful soul, mind and sense organs.
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Panchakarma 1. Vamana (metered induced emesis) 2. Virechana (metered induced purgation) 3. Basti (metered induced purgation through enigmas) 4. Nasya (metered instillation drugs through nasal cavities) 5. Raktamokshana (metered bloodletting through leeches /other medical devices) Meditation session at Swaswara - CGH, Karnataka
The Ayurveda treatment is customised according to the needs or ailments
There are the five procedures and thus called ‘Pancha’ – ‘Karma’. Before being deployed, poorva karma (preparatory procedures) such as snehan (oleation therapy) and swedan (sudation therapy) and then to start with pradhankarma i.e. Panchakarma followed by paschatkarma (post Panchakarma procedures) are also undertaken. They need to be deployed for various patients for various purposes / diseases, also can be undertaken as a measure for preventing certain conditions. Ayurveda is treating an individual, so not every medication or procedure will be applicable to everyone. In Ayurveda, certain specifics are always taken care of such as vaman cannot be administered to garbhini (pregnant woman) or hridrogi (heart patients). Panchakarma is always administered under guidance of Ayurvedic doctor or expert and followed by various
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lifestyle corrections, regular yoga and meditation that go a long way in the correction of diseases and lifestyle disorders. In the next edition, we will learn about Panchakarma in detail and procedures known as Upakarmas, e.g. Katibasti, Manya basti, Hridbasti, Sandhibasti, Shirodhara, Shirobasti, Takradhara and Tarpan. Dr Aashish Phadke, MD, Ayurveda, Mumbai, MIIM(Gold Medal) is Ayurveda and Panchakarma Consultant at Dr Aashish Phadke’s Ayurvision – Centre for Ayurveda & Panchakarma Therapy, Mumbai & Navi Mumbai, India. Those interested to know more, log onto to www.ayurvision.com. F eedba ck Disclaimer: The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of publisher or Axis Bank.
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S p i ce S a g a
Spices are seen as a new avatar in concocting drinks, giving them a tempting twist
A Twist to Classics
Ahmed Faisal, Bartender at Eros Hotel Managed by Hilton, New Delhi likes to make ‘Masala Mary’ for his special guests. He says, “It is a twist to the classic Bloody Mary. As the name suggests, it is a vodka based cocktail with a tadka (tampering) of Indian spices comprising of curry leaf which makes the drink highly aromatic and coriander seed which have a woody and sweet fragrance that makes the drink pleasantly bitter.”
As a bar maestro would put it, ‘Spices are the soul of mixology. We Indians have an arsenal of spices that we have grown up with, so spices just act too well for us.”. words sharmila chand Masala Mary
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When our grandmothers used spices to make delicious curries, did they ever imagined their spice jars would find place in the bars? They spent many arduous hours sorting their favourite spices and grinding them to the delicate finish before storing them in the most appropriate corners of the kitchen. The same spices are seen as essential ingredients to make some amazing drinks by mixologists today. Let’s see what is happening in the bar these days and how mixologists are borrowing spices from the Indian kitchen. Whether it is the beauty of star anise acting as a floating garnish or the robust pine flavour of rosemary, spices act not just taste and aroma enhancers, but they also refresh and mellow the drink. The art of mixing depends on innovative thinking, so the use of fresh spices will not only give an experience to the diner but also give the opportunity to barmen to explore different infusions. So, Indian spices
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in cocktails are a welcome addition to complex comforts and joys of the seasonal mixology roster.
Spices are seen as a new avatar in concocting drinks giving them a tempting twist that would create a rare blend. While classic cocktails like martinis have a pinch of salt round their rim to enhance the taste, often drinks are re-invented or new drinks are created with the help of spices. Cardamom, cinnamon, green chili, Tabasco, rock salt are used in the making of drinks. Cinnamon is a favorite because of its enhancing properties, it has a distinct spell and taste which when blended with the right elements can create a drink both alluring and intoxicating. So if you want to give a twist to the classics, just raid your kitchen shelves.
Kuldeep Singh Rawat, Assistant Manager, 1911 Bar at The Imperial New Delhi says, “Spicy cocktails are very interesting. There is a trick to find the balance of flavor when it comes to making a drink with hot and spicy ingredients. Spicy cocktails require more attention to balance than any other style of cocktails. One of my favorite cocktail is ‘Ginger and Cinnamon Martini’, a very interesting and refreshing cocktail which has a culmination of all the flavors and spices. Cinnamon has a warm, sweet woody aroma that is delicate yet intense.” Another killer is ‘Indian Summer’. At STAX, Hyatt Regency, Mumbai, bartender Nishant likes to play with new, innovative ingredients. He loves putting together ‘The Fired Whiskey’ for the loyals and first-timers alike. It is made out
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of fresh pineapple chunks, muddled with jalapenos and a generous pour of Scotch. The combination of pineapple and jalapenos complements one another and the Whiskey adds up the heat to the right mercury levels. He adds, “I like to create a blend which creates a wow effect. A cocktail is best made from the freshest of the ingredients and hence we came up with an idea of presenting guests with cocktails made only from fresh ingredients. While trying different recipes, we thought of including some spiciness in our cocktails." And along came ‘The Fired Whiskey’.
F eedba ck Disclaimer: The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of publisher or Axis Bank.
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