Why didn’t you postpone the issue?

Nobody had a clue as to what was coming. It’s easy for analysts now to find reasons why the market crashed and project tough times ahead. Their forecasts now make even astrology look respectable. Two weeks before the IPO opened we started our roadshows across the world and we went to all the top investors from Goldman Sachs, Tempelton, to Fidelity. The only question they asked was whether the Indian economy would get pulled down by the Left.

There were no doubts about our LCC model, after all we have a 16 per cent market share and by the end of the year we will carry over a billion passengers a month, which is more than Indian, and we have flights in over 56 airports, which is again more than Indian.

In the crucial 3-4 days did the fund managers walk out?

We met over 100 fund managers who were ready to put in money. A well-known Indian institution had taken board approval to invest Rs 220 crore in the issue, based on the assumption the IPO would be oversubscribed ten times. But when the market fell they decided to put in only Rs 22 crore since there was no chance of oversubscription. The FIIs and mutual fund crowd were concentrating more on liquidating stocks and putting in money in a new issue was not their focus. But we had to go through with the IPO since we needed the funds, and we could always go back after six months if it was undersubscribed

How much less premium did you get?

The price we wanted was Rs 175, but merchant bankers fixed it at Rs 148, so what we got was Rs 27 less, or about Rs 60 crore less, a figure we can live with. The price of the share is a reflection of the market — Biocon has fallen, Reliance Petroleum is down, so is Jet.

Many experts say that this marks the end of the honeymoon with the aviation story, the LCC story. Your balance sheet shows losses of over Rs 60 crore.

This is utter nonsense. Infrastructure companies take time to make profits — you can see the same story in telecom. In India, only 2 per cent of the population flies, we have not even touched the surface. There are LCC companies across the globe like Ryan Air or South West that are making money continuously.

But in Europe, you have separate airports for LCCs and cheaper landing rights …The LCC cost structure is not too different from scheduled airlines and that is why they have been able to match tariffs of LCCs on many routes.

That’s rubbish. It is only in Europe that you have alternative airports that charge lower navigational charges. Virgin and EasyJet land in normal airports, only Ryan goes to alternative airports. LCCs do many things that scheduled airlines can’t — we have 70 employees per aircraft, Indian has over 400 and Jet over 170. We have an internet-enabled reservation system, scheduled airlines offer e-ticketing but it is based on a proprietary reservation system for which you have to pay commission. Around 90 per cent of their tickets are sold through travel agents to whom they pass on margins of 5-6 per cent. I don’t. That is why my cost per available seat per kilometre is only Rs 2.45 compared to the competition, which is Rs 2.80. My average yield per passenger is $62, what I need to make profit is to get it up to $67—there is a $5 gap that we have to cross.

Have you stretched yourself by going to so many destinations without the necessary fleet? This shows in terms of cancellations and delays.

If I remained small, the competition would have killed me by simply lowering fares in the limited number of markets that I operate in. It is because I scaled up in no time that they have not been able to kill me. My competition has more aircraft but they do not have my cost of operation, so if they compete with me in all the markets they will get killed before me. A large part of the IPO money is to address the problems that we have been facing, so we want to set up a large engineering centre, have hangers, create a maintenance centre and, of course, improve inventory so that we have enough spare parts on hand.

In every market that I have entered, the competition has been forced to lower rates. They were charging Rs 19,000 between Delhi and Thiruvananthapuram. I came in and dropped the price to Rs 10,000 and they had to reduce to compete. Similarly, I reduced tariffs on the Bangalore-Cochin sector from Rs 4,800 to Rs 3,000; they also had to come down.

Companies like Jet have reduced tariffs to just marginally higher than yours. Is that a challenge for you?

Jet has not changed its business model. It still continues to give you gourmet meals, provide you with executive lounges etc. So they have the same business model and costs, but have lowered tariffs. This emanates from a temporary insecurity in the market place. I think after some time they will stop competing with me — I am catering to the mass market and first-time travellers, Jet is catering to the upper end of the market. Their cost structure is different from mine.

NEW DELHI: For students who count their stars before writing exams, here is an opening. Delhi University is now offering lessons in astrology and vastushastra for those pursuing Sanskrit discipline courses in BA.

“From the academic year 2007-08, students studying Sanskrit will have to study a paper on astrology in the third year,” said Prof Devendra Mishra of Department of Sanskrit.

The paper is compulsory and even atheists have to go through the grind. Already the subject is being taught in MA as an optional paper. However, this is the first time it has been introduced at the under-graduate level. About 30 universities, including state universities, offer courses in astrology in India. The hundred-mark paper has been divided into three parts — Vastushastra, Jyotish and Ayurveda.

While the Left-oriented members of the Academic Council in DU have strongly protested against the move, calling it a not-so-progressive syllabus, the Sanskrit Department says it is part of the ancient language.

However, some differ on the feasibility of introducing such courses. “This subject will promote superstition which is unacceptable at a stage when India is making steady progress in science and technology,” said Sanal Edamaruku, president of Indian Rationalist Association.

Ludhiana, June 26: A Hindi serial, Jyotish woh jo apka bhagya badle was launched here today by the Parliamentary Secretary for Power and Housing Development Surinder Dawar. The serial will be telecast every day on Win Cable and the audience will be given solution to their problems by Dr Vikram Sharma, a well known local astrologer.

Talking to the mediapersons here today, Dr Sharma said: ‘‘Indian astrology is a science which is dying. Through this programme, I want to keep the rich tradition of our nation alive and at the same time want people to benefit from it.’ ‘‘It is all due to the actions we humans committed in our past lives that we have to suffer in the present life. But then the pain and the anguish of our present life can be mitigated through astrology,’’ opined Dr Sharma.

Forget modern weather prediction models, horoscopes are taking over. Weathermen are blending their meterological data with astrological kundalis to predict rainfall. Indian Meteorological Department (IMD) and Central Research Institute for Dryland Agriculture (CRIDA), Hyderabad, have kick-started a pilot project that will blend well-proven scientific meteorological data, backed by mathematical calculations, with astronomical data for weather prediction.

Visibly excited about this new field called astro-meteorology, CRIDA director YS Ramakrishna says, “Agricultural practices are largely weather-sensitive. So far, the relationship between weather events across the world had to be correlated with the local weather conditions over the past century that led to a scientific way of weather forecasting. Closer home, since 1990s, scientists have been making medium range weather predictions with moderate success. However, with the annual monsoon phenomenon beginning to behave abnormally during the past few years, their predictions have been going haywire.” This, despite the fact that improved methods have been generated and a 16 parameter model been used by IMD for predicting long-range rainfall .

So far, modern science has been at crossroads when it comes to weather prediction. Moreover, a major problem arises when prediction has to be made for smaller regions, especially to understand the local weather conditions, mainly the rainfall, thermal and humidity, etc. Keeping in mind the systematic changes taking place in the tropical circulation pattern, new parameters have been added and a new prediction model developed by IMD.

The new methodology is interesting as scientists attempt to arrive at the rainfall prediction based on star positions. Surprised, but let’s look at our traditional astronomical knowledge wherein, astronomical data plays a major decision maker. Can this data, derived based on the star positions, used for predicting rainfall? “There is accuracy rate of 60-70% and there is always a relevance of ancient wisdom for weather forecasting for improving agro-advisories,’’ Ramakrishna points out.

A peep into the past throws up interesting reading too. During the Vedic age, when sage Varahamihira wrote two important works — Panchasiddhantika and Brihat Samhita — it goes without saying that there existed a traditional wisdom for weather prediction. In fact, the prediction of sunrise and sunset is followed till date.

Unraveling the intricacies of astronomy further, Gayatri astronomy expert Devi Vasudev says, when the Sun traverses star Krittika, the summer heat gets intensified as this star is associated with Sun, the fire god in Vedic texts. And this is precisely the time, when the mercury shoots up. The stars are ruled by natural elements and it is believed that movement of Sun and Saturn in conjunction imply that winter is ahead. Similarly, dry weather will prevail if Sun and Jupiter conjoin, while with Venus rainfall is round the corner, and so on.

IMD scientists inform that a pilot project has been initiated by the Gujarat government to blend the astronomical data with scientifical data for better rainfall prediction. “The potential for Jyotisha to forecast monsoons, if explored, can help to a large extent in improving accuracy based on modern methods,” Vasudev says in a theme paper presented in a recent meeting at CRIDA. The paper highlights that Sun’s entry into a constellation changes the weather pattern and solar ingress into Scorpio has a bearing on monsoon.

Mr Ramakrishna says that these studies point out towards the long-term prediction of rainfall based on astrological parameters that are generated by careful and systematic observation and experience. “These are in no manner inferior to the research models used by modern scientists,” he adds. In no uncertain terms, the next move by IMD and CRIDA is to work together to see how far the data can be blended to draw on the strengths of each segment.

A working group has been formed along with IMD and state agricultural universities and CRIDA is the nodal agency to bring out a medium range prediction model and blend it with latest techniques. Its time to trust the weatherman, at least for the time being.

Gaṇḍa has been clearly defined by Nārada as the period of a prahara (3 hours) covering the junction of agni and jala rāśi. These junctions are (1) Jyeṣṭha-Mūla (in Scorpio-Sagittarius) , (2) Aśleṣā-Maghā (in Cancer-Leo) and (3) Revatī-Aśvinī (in Pisces-Aries).

Maharṣi Vasiṣṭha defines a flaw called ‘Abhukta Mūla’ for these three junctions and any child born during the 180 minutes when the Moon is at these junctions. Period of 90 minutes is one Kāla (as in kālachakra) at the end of Aśleṣā, Jyeṣṭha and Revatī and 90 minutes at the start of Maghā, Mūla and Aśvinī is to be treated as Abhukta Mūla doṣa. The word Abhukta implies (a) uneaten as in fasting or being denied food for sustenance, (b) unenjoyed or unused as in abstinence indicating one who is neither a source of joy nor of any use to the world (society). It shows one who is like an unexpended unannounced guest disturbing and shocking the existing structure. The conjunction of the water and fire signs is treated as the conjunction between the Moon (water) and Sun (fire) which is like amāvāsya and Soma (nectar of life and immortality) is not available for the animal kingdom as the Moon hides in plant kingdom.

The exact lunar transit in one kāla (90min) is 0°50’ arc. The Abhukta Mūla doṣa portion of water signs is at 29°10’ to 30°00’ while in the fire signs it is in the beginning at 0°00’ to 0°50’.

This view of the Abhukta Mūla as defined by Nārada and Vasiṣṭha is supported by the seers Brahma, Saunaka, while Maharṣi Kaśyapa gives a higher prominence to the gaṇḍānta in Aśleṣā-Maghā and Jyeṣṭha-Mūla as producing serious Abhukta Mūla doṣa while underplaying Revatī-Aśvinī.

1.1      Nakṣatra ṣoḍaśāṁśa

Brahma defines this Abhukta Mūla in terms of space instead of time. The span of a nakṣatra is 13°20’ (800’) and this portion of 50’ is one-sixteenth (1/16^th) portion of the Nakṣatra. In essence, every nakṣatra is divided into four pada of 3°20’ each which in turn are divided into four parts of 0°50’ each. The gaṇḍānta is in the first 1/16^th portion of the nakṣatra in fire/odd signs while it is in the last 1/16^th portion of the nakṣatra in the water/even signs. These sixteen portions of the nakṣatra are like the sixteen tithī called ṣoḍaśī where 15 tithī manifest and the 16^th is śūnya (void).

1.2      Other views

Confusions exist about the definition of the Abhukta Mūla in the definitions based on tie and space. The word Prahara (प्रहर) is defined in jyotiṣa as a fixed period of 3 hours reckoned from sunrise. There are eight prahara in a day of 24 hours and the junctions of these prahara are fixed. In North India these are also referred to as ghaḍī (घडी) meaning ‘the watch’. The first prahara or a day is ruled by the lord of the day and the subsequent follow the order of the kālachakra. Sun, Mars, Jupiter, Mercury, Venus, Saturn, Moon and Rāhu is the regular order of planets in the Kālachakra.

If sunrise is at 6:00’am on Sunday then the starting time for the prahara of that Sunday are – Sun (6am), Mars (9am), Jupiter (Noon), Mercury (3pm), Venus (6pm), Saturn (9pm), Moon (Midnight) and Rāhu (3am). Now, if on that day the Moon was to enter Sagittarius at 5:15’pm, then we can say that it entered Sagittarius in Mercury prahara. Since this prahara extends from 3-6 pm, then according to some views, the Abhukta Mūla of Mūla nakṣatra is merely 45 minutes from 5:15’ to 6:00’pm as the Mercury prahara ends at 6:00’pm.

We believe that this is a distortion of the definition of Abhukta Mūla. Brahma has done well to define this in space terms as 50’arc else this unnecessary controversy could have left us with doubts. In the above example, using Nārada and other sages definition, the Abhukta Mūla portion would be in two parts – (a) Jyeṣṭha Abhukta: 3:45’pm-5:15’pm (90 minutes before transit) and (b) Mūla Abhukta: 5:15’pm-6:45’pm (90 minutes after transit).

1.2.1       Blemish of Abhukta

Abhukta means that which cannot be enjoyed or adored. All the sages are unanimous in the opinion that a child born in any of the six Abhukta portions should be given away (for adoption) and taken back after 8 years have been completed. The 8 years refers to the 8 prahara portions that need to be completed [karma results of Moon manifest @ 1 prahara per year]. What is implied is that if this is not done then the separation with the child shall be very painful and severe suffering is indicated.

Maharṣi Saunaka concurs and advises that the propitiatory rituals for taking the child back should be conducted on the day of Janma Nakṣatra (which is the gaṇḍānta nakṣatra) when 9^th year of the child commences.

1.2.2       Vasiṣṭha Riders

In the case of Mūla gaṇḍānta (nakṣatra), the first pada birth does not cause evil to father if the birth is in the night. This is because agni tattva doṣa is absent at night just as maṅgalika doṣa (caused by Mars, the ruler of agni tattva) is negligible at night. Similarly, for one born in the daytime, the second pada doṣa of death of mother will not occur as jala tattva doṣa does not manifest strongly for day birth. If the remedial measures are done within one year, then the Abhukta mūla doṣa does not afflict father whereas if it is done within 3 years then mother is safeguarded.

1.2.3       Kerala Tithī-aṁśa

The nakṣatra is divided into 15 parts each called tithī-aṁśa and various results are attributed for each part.

1.3      Pada Doṣa

The effect of the Abhukta spreads to the drekkāṇa (10°) of the gaṇḍānta nakṣatra. Each nakṣatra is 13°20’ span comprising four pada of 3°20’ each. According to most authorities, the effect of the gaṇḍānta junction spreads on either side to 10° (= 1 drekkāṇa or 3 pada). The first three pada of agni rāśi (Aśvinī, Maghā and Mūla) and the last three pada of jala rāśi (Aśleṣā, Jyeṣṭha and Revatī) have flaws.

Pada Doṣa – Male Nativity

Table 1: Janma Nakṣatra: Aśvinī, Maghā and Mūla

Table 2: Aśleṣā, Jyeṣṭha and Revatī [Reverse of previous]

Pada Doṣa – Female Nativity

Table 3: Janma Nakṣatra: Aśvinī, Maghā and Mūla

Table 4: Aśleṣā, Jyeṣṭha and Revatī [Reverse of previous]

For the complete 18-page detailed article with illustrations and usage, refer to the April, 2011 Issue of the Jyotish Digest

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