India's largest power generating company NTPC Limited is waiting for cabinet approval to launch tenders worth 18000 crore to procure nine eco friendly boiler and turbine (supercritical) units.
The nine supercritical units have a capacity of 800 Mw each and are expected to burn less coal for producing electricity.
A senior official of NTPC said "The tender will be out in a month after the Cabinet’s approval. The orders will be placed within nine to 10 months."
NTPC currently produces 32,000 Mw of electricity and has plans to increase it to 75,000 Mw by 2017.
NTPC's closing price on NSE was 202.25 on 30-Dec-2010.
December 30, 2010
KFA to save 500 cr per year post debt restructuring
Kingfisher Airlines (KFA) has completed a debt restructuring exercise managed by SBI Capital Markets, which represented the 18 lenders of KFA.
The total debt of KFA as on 10-Sep-2010 stood at Rs.8157 crore. Some of the debt was converted into preferential shares and redeemable shares with the approval of the lenders.
Following the debt recast the average interest rate comes down to 11% from 20% which is expected to save KFA Rs.500 crore annually on interest cost.
KFA's closing price on NSE was 63.80 on 30-Dec-2010.
The total debt of KFA as on 10-Sep-2010 stood at Rs.8157 crore. Some of the debt was converted into preferential shares and redeemable shares with the approval of the lenders.
Following the debt recast the average interest rate comes down to 11% from 20% which is expected to save KFA Rs.500 crore annually on interest cost.
KFA's closing price on NSE was 63.80 on 30-Dec-2010.
India's Global Trade to cross Half Trillion dollars
According to World Trade Organization (WTO) global trade will see an increase of 13.5 percent in 2010.
India's share in the global trade is expected to cross the half trillion mark for the first time this year.
India's inbound and outbound trade in goods is expected to cross $ 550 billion in fiscal 2010-2011.
India's share in the global trade is expected to cross the half trillion mark for the first time this year.
India's inbound and outbound trade in goods is expected to cross $ 550 billion in fiscal 2010-2011.
December 28, 2010
Mahindra to hike prices across the board in Jan 2011
Mahindra & Mahindra (M&M) said on 28-Dec-2010 that it will increase the prices of all its vehicles across the board (passenger & commercial vehicles) from January 2011. M&M said the price hike is necessitated due to increase in the commodity rates.
M&M senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra said "The prices of all raw materials, especially rubber and steel components, have gone up in recent times."
Tata Motors also is expected to increase the prices of all its passenger vehicles with the exception of Nano and Aria, by 1.5 per cent from January 2011.
M&M senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra said "The prices of all raw materials, especially rubber and steel components, have gone up in recent times."
Tata Motors also is expected to increase the prices of all its passenger vehicles with the exception of Nano and Aria, by 1.5 per cent from January 2011.
Web TV to debut in India on New Years Day
Vibes Visual and Media Private Limited, a kochi based enterprise said yesterday, it will be launching India's first Web TV called "Indiavibes" on the New Years Day.
The founder of the company Mr.Andrine Mendez said "We cover all categories... fashion, music, films, business, technology, blogging, lifestyle, current affairs and wish to make Indiavibes, as its name suggests, the one-stop shop for all the entertainment for global audiences."
The founder of the company Mr.Andrine Mendez said "We cover all categories... fashion, music, films, business, technology, blogging, lifestyle, current affairs and wish to make Indiavibes, as its name suggests, the one-stop shop for all the entertainment for global audiences."
December 27, 2010
NHPC to increase capacity to 5322 mw by 2012
The Chairman-cum-Managing Director of NHPC, Mr.S K Garg said yesterday, that NHPC is all set to increase its power generation capacity to 5,322 MW by March 2012.
NHPC generated a record 16,960 million units of electricity during 2009-2010 and signed JVs with various state governments to generate thermal and wind energy.
The net profit of NHPC has gone up from Rs 510 crore in 2002-2003 to Rs 2,090 crore in 2009-2010, Mr.Garg said.
NHPC's closing price on NSE was 28.10 on 27-Dec-2010.
NHPC generated a record 16,960 million units of electricity during 2009-2010 and signed JVs with various state governments to generate thermal and wind energy.
The net profit of NHPC has gone up from Rs 510 crore in 2002-2003 to Rs 2,090 crore in 2009-2010, Mr.Garg said.
NHPC's closing price on NSE was 28.10 on 27-Dec-2010.
December 24, 2010
Tata Steel mulling $1 billion DVR issue
The management of Tata Steel said on Friday that they have obtained shareholders permission to raise funds.
Tata Steel is reported to be mulling a DVR (differential voting rights) issue to raise $1 billion. A "DVR" is an instrument that is traded on the stock exchanges, offers dividends but has limited voting rights. DVRs are offered at a discounted price compared to ordinary shares.
Tata Motors was the first company in India to offer DVR shares.
Tata Steel's closing price on NSE was 672.85 on 24-Dec-2010.
Govt. lifts ban on Sugar futures trading
Trading in Sugar futures which was banned by the government in May 2009, is set to resume from 27-Dec-2010 on commodity exchanges like MCX, NCDEX and ACE.
The market regulator had imposed a ban on sugar futures following last year following a drop in production which led to a steep increase in sugar price. However sugar production this year in India is projected to be around 25 million tonnes which exceeds the domestic demand of 23 million tonnes.
NCDEX had a daily turnover of Rs.100 crore to Rs.300 crore in sugar futures before the ban.
December 23, 2010
Indian KPO market to cross $10 billion mark by 2012
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) predicts that the Indian Knowledge Process Outsourcing (KPO) industry could cross the $10 billion mark by 2012 if the industry is opened for biotech and nano experts.
The current market size of KPO sector is around $5.5 billion and it is growing at a rate of 15 to17 per cent, led by industries such as management, medical and engineering, Assocham said.
The current market size of KPO sector is around $5.5 billion and it is growing at a rate of 15 to17 per cent, led by industries such as management, medical and engineering, Assocham said.
FutureBazaar.com falls prey to hack attacks
Kishore Biyani's FutureBazaar.com which ran a successful promotional campaign during the recent festive season, falls prey to hack attacks and DOS (denial of service) attacks causing the site to be "unavailable" to consumers for the last 48 hours.
"We have filed a complaint with the Cyber Crime Branch in Mumbai. Internally we are working to get the site up and running and it should be fine soon" said FutureBazaar's Chief Executive Officer Rajiv Prakash.
FutureBazaar.com had garnered Rs.10 crores by selling 4000 laptops, through its "battle for best price" campaign during the recent dussehra and diwali season.
Future Group has set an ambitious target of Rs.1000 crore for its portals to be achieved in the next 3 years. Future Group has total retail revenues of around Rs.10,000 crores from retail outlets like Big Bazaar, Pantaloons, Central, eZone etc.
"We have filed a complaint with the Cyber Crime Branch in Mumbai. Internally we are working to get the site up and running and it should be fine soon" said FutureBazaar's Chief Executive Officer Rajiv Prakash.
FutureBazaar.com had garnered Rs.10 crores by selling 4000 laptops, through its "battle for best price" campaign during the recent dussehra and diwali season.
Future Group has set an ambitious target of Rs.1000 crore for its portals to be achieved in the next 3 years. Future Group has total retail revenues of around Rs.10,000 crores from retail outlets like Big Bazaar, Pantaloons, Central, eZone etc.
Pantaloon Retail's closing price on NSE was 367.95 on 22-Dec-2010.
India Inc. raises 1 lakh crore in 2010
In 2010, the public sector and private sector companies in India, altogether raised a little under 1 lakh crore (99, 450 cr) from the (domestic) capital markets. The money raised in 2010 happens to be twice the amount raised in 2009.
Funds raised in domestic markets since 2007:
Funds raised in foreign markets:
India Inc. had tapped the markets overseas to raise over $10 billion in 2007, through ADRs and GDRs but in 2010, this amount declined to 2.2 billion dollars.
Funds raised in domestic markets since 2007:
| In rupees crores | 2007 | 2008 | 2009 | 2010 |
| IPOs | 33,782 | 16,995 | 17,002 | 39,710 |
| FPOs | 11,551 | 286 | 23 | 31,403 |
| QIPs | 20,011 | 2,104 | 32,631 | 28,339 |
| Total | 65,344 | 19,385 | 49,656 | 99,452 |
Funds raised in foreign markets:
India Inc. had tapped the markets overseas to raise over $10 billion in 2007, through ADRs and GDRs but in 2010, this amount declined to 2.2 billion dollars.
December 22, 2010
Thailand to sign FTA with India in 2011
Thailand's deputy minister of commerce Mr.Ponlaboot said a comprehensive market opening pact with India is likely to be signed in 2011. This is expected to help increase bilateral trade which is set to cross $6.5 billion in the current fiscal.
The two countries have abolished duties on 82 items under EHS (Early Harvest Scheme) which is a precursor to FTA. Post the FTA duties on most goods will be either reduced or eliminated.
The two countries have abolished duties on 82 items under EHS (Early Harvest Scheme) which is a precursor to FTA. Post the FTA duties on most goods will be either reduced or eliminated.
JSW STEEL ACQUIRES ISPAT INDUSTRIES
JSW Steel will be acquiring a controlling stake of 41.29 percent in Ispat Industries for Rs.2157 crore according to an announcement by the managements of both the companies on Tuesday.
Ispat which has a huge debt of around Rs.8600 crore is valued at $3 billion.
JSW Steel is expected to make an open offer to Ispat shareholders in due course.
JSW which has a steel production capacity of 7.8 MTPA (million tonnes per annum) would be ramping it up to 11 million tonnes by end of FY12 and add to this Ispat's 3.3 MTPA... JSW steel will have a total capacity of 14.3 million tonnes a year by end of FY12.
State-owned and India's largest steelmaker SAIL currently has a capacity of 14 million tonnes a year.
Tata steel produces in India only 6.8 million tonnes out of its total steel production capacity of 20 million tonnes per year.
JSW Steel's closing price on NSE was 1211.80 on 21-Dec-2010.
Ispat Industries' closing price on NSE was 21.20 on 21-Dec-2010.
Ispat which has a huge debt of around Rs.8600 crore is valued at $3 billion.
JSW Steel is expected to make an open offer to Ispat shareholders in due course.
JSW which has a steel production capacity of 7.8 MTPA (million tonnes per annum) would be ramping it up to 11 million tonnes by end of FY12 and add to this Ispat's 3.3 MTPA... JSW steel will have a total capacity of 14.3 million tonnes a year by end of FY12.
State-owned and India's largest steelmaker SAIL currently has a capacity of 14 million tonnes a year.
Tata steel produces in India only 6.8 million tonnes out of its total steel production capacity of 20 million tonnes per year.
JSW Steel's closing price on NSE was 1211.80 on 21-Dec-2010.
Ispat Industries' closing price on NSE was 21.20 on 21-Dec-2010.
December 21, 2010
Tata Chemicals to acquire British Salt for 93 mn pounds
Tata Chemicals issued a statement on 20-Dec-2010 that Brunner Mond which is Tata Chemicals' british arm has signed a binding agreement for acquisition of British Salt Ltd for 93 million pounds.
Brunner Mond is expected to raise 100% of the funds through the debt route. British Salt which has a 50% market share in the United Kingdom, produces pure dried vacuum salt. British Salt also owns brine wells with residual life of 50 years which Tata Chemicals said provides Brunner Mond with an opportunity to secure long term supply of brine.
Tata Chemicals' closing price on NSE was 373.85 on 20-Dec-2010.
Brunner Mond is expected to raise 100% of the funds through the debt route. British Salt which has a 50% market share in the United Kingdom, produces pure dried vacuum salt. British Salt also owns brine wells with residual life of 50 years which Tata Chemicals said provides Brunner Mond with an opportunity to secure long term supply of brine.
Tata Chemicals' closing price on NSE was 373.85 on 20-Dec-2010.
December 20, 2010
Top 10 stocks by market capitalization
20-Dec-2010
Here's a list of top 10 companies by market capitalization in India.
Market Capitalization (Rs Crore)
==============================================
RIL ----------------------------------------------- 345522.16
ONGC -------------------------------------- 284277.21
TCS ----------------------------------- 223199.09
CIL -------------------------------- 202691.99
INFY --------------------------- 188991.19
SBI ------------------------- 175374.71
NTPC ------------------- 163012.74
BHARTI ------------- 130463.80
ITC ---------------- 129303.03
ICICI ------------ 126827.75
Here's a list of top 10 companies by market capitalization in India.
Market Capitalization (Rs Crore)
==============================================
RIL ----------------------------------------------- 345522.16
ONGC -------------------------------------- 284277.21
TCS ----------------------------------- 223199.09
CIL -------------------------------- 202691.99
INFY --------------------------- 188991.19
SBI ------------------------- 175374.71
NTPC ------------------- 163012.74
BHARTI ------------- 130463.80
ITC ---------------- 129303.03
ICICI ------------ 126827.75
December 18, 2010
Groupon looks for funding after rejecting $6 billion offer from Google
Groupon Inc. the chicago based online coupon company, is said to be looking for venture capital funding to the tune of $100 million, to ward off competition from new comers like Living Social.
Groupon primarily relies on email to reach its 35 million customers in 29 countries. Groupon offers discount of up to 90% on products and services through "coupons". However the coupons become effective only after a minimum number of people purchase them.
Google which is sitting on cash reserves in excess of $33 billion has reportedly offered Groupon $3.5 billion initially and eventually raised it up to $6 billion (over Rs.27,000 crores) earlier this month but Groupon so far has resisted the temptation to "sell out".
Groupon primarily relies on email to reach its 35 million customers in 29 countries. Groupon offers discount of up to 90% on products and services through "coupons". However the coupons become effective only after a minimum number of people purchase them.
Google which is sitting on cash reserves in excess of $33 billion has reportedly offered Groupon $3.5 billion initially and eventually raised it up to $6 billion (over Rs.27,000 crores) earlier this month but Groupon so far has resisted the temptation to "sell out".
December 15, 2010
India tops Forbes (2011) list of best countires for employment
The forbes list of best countries for new jobs in 2011 places India at the top with 42% net hiring outlook for Q1. China comes a close second at 40% and Taiwan third at 37%.
HIRING OUTLOOK Q1 - 2011
---------------------------------
India - 42%
China - 40%
Taiwan - 37%
Brazil - 36%
Turkey - 27%
Singapore - 26%
US - 9%
HIRING OUTLOOK Q1 - 2011
---------------------------------
India - 42%
China - 40%
Taiwan - 37%
Brazil - 36%
Turkey - 27%
Singapore - 26%
US - 9%
December 13, 2010
RIO TINTO KEEN ON DEVELOPING IRON ORE IN INDIA
A senior official of Rio Tinto India stated today that they are in discussions with an Indian company for developing iron ore mines. Rio Tinto founded in 1873, is a British-Australian, world leading mining and resources company headquartered in London and Melbourne.
Iron ore is an important raw material used in making steel and it is expected that the demand for steel in India will grow in double digits fueled by huge investments in the construction, infrastructure and automobile industries.
Mr.Siddharth Jain, general manager, iron ore, Rio Tinto India said "We are very keen to have iron ore operations in India". He did not divulge details of the Indian company.
Mr.Jain also added that they are re-negotiating an agreement signed in 1995 with Orissa Mining Corporattion (OMC) in which the orissa government holds 49% while Rio Tinto holds the other 51%.
The JV would begin mining operations in the Keonjhar district in Orissa within 20 months of signing the final agreement, Mr.Jain added.
Iron ore is an important raw material used in making steel and it is expected that the demand for steel in India will grow in double digits fueled by huge investments in the construction, infrastructure and automobile industries.
Mr.Siddharth Jain, general manager, iron ore, Rio Tinto India said "We are very keen to have iron ore operations in India". He did not divulge details of the Indian company.
Mr.Jain also added that they are re-negotiating an agreement signed in 1995 with Orissa Mining Corporattion (OMC) in which the orissa government holds 49% while Rio Tinto holds the other 51%.
The JV would begin mining operations in the Keonjhar district in Orissa within 20 months of signing the final agreement, Mr.Jain added.
October 21, 2010
October 13, 2010
CIL India's largest IPO priced at Rs. 225 - 245
The coal minister, Mr.Sriprakash Jaiswal said yesterday "Coal India IPO price has been fixed at Rs.225 - 245 a share. We expect to raise over Rs.15,000 crore from the issue".
The largest IPO so far has been that of Reliance Power's IPO in January 2008 when the Reliance ADAG company raised Rs.11,500 crore from capital markets.
Coal India Limited Company, is a thermal power generation company promoted by the government of India. The Indian government is divesting 10% stake in CIL through IPO.
The world's largest coal producer and coal reserve holder (63 billion tonnes) CIL will be listed on the domestic bourses by Nov 4.
The largest IPO so far has been that of Reliance Power's IPO in January 2008 when the Reliance ADAG company raised Rs.11,500 crore from capital markets.
Coal India Limited Company, is a thermal power generation company promoted by the government of India. The Indian government is divesting 10% stake in CIL through IPO.
The world's largest coal producer and coal reserve holder (63 billion tonnes) CIL will be listed on the domestic bourses by Nov 4.
September 27, 2010
Debt laden RCom explores new funding options
Laden with a debt of Rs.33,000 crores... Anil Ambani's Reliance Communications, India's second largest Cellular Operator is exploring fresh equity sale option.
RCom attempted to reduce debt by merging its tower-arm with GTL and by disposing equity (26%) to Etisalat.
The tower deal with GTL did not go through as intended and had to be called off forcing RCom to rethink its debt reduction strategy but the fact that they had to pay a further Rs.8585 crore recently for 3G spectrum does not suggest things are going to be picking up anytime soon.
On the positive side... strong foreign inflows in the last few months have made the market conditions conducive for raising funds.
On 28-Sep-2010 RCom is going to seek approval from share holders enabling it to sell fresh equity.
RCom attempted to reduce debt by merging its tower-arm with GTL and by disposing equity (26%) to Etisalat.
The tower deal with GTL did not go through as intended and had to be called off forcing RCom to rethink its debt reduction strategy but the fact that they had to pay a further Rs.8585 crore recently for 3G spectrum does not suggest things are going to be picking up anytime soon.
On the positive side... strong foreign inflows in the last few months have made the market conditions conducive for raising funds.
On 28-Sep-2010 RCom is going to seek approval from share holders enabling it to sell fresh equity.
September 23, 2010
Nano to be second best selling car by FY11
According to research firm JD Power Nano the small car from the Tata Motors stable is poised to become the second best selling car in India after Maruti Suzuki's Alto.
Nano is slated to grab the number two spot in 2011 when Tata is expected to ramp up its production capacity.
The highest selling car in India currently is Maruti Alto selling 25,000 units monthly on an average.
The market for mini and sub-compact cars would be 9,97,000 in 2010 which is expected to grow to 30,14,000 units by 2017.
The closing price of Tata Motors on NSE was Rs.1073 today.
Equiwise recommended investing in TATA MOTORS on 04-Jun-2009 when the stock was at Rs.369. Time to invest in stocks like Reliance Tata Motors for a 5 - 10 year horizon
See our other posts on TATA MOTORS:
Tata Motors enters Fortune 500 list
Incredible Stocks of India: TATA MOTORS
Nano is slated to grab the number two spot in 2011 when Tata is expected to ramp up its production capacity.
The highest selling car in India currently is Maruti Alto selling 25,000 units monthly on an average.
The market for mini and sub-compact cars would be 9,97,000 in 2010 which is expected to grow to 30,14,000 units by 2017.
The closing price of Tata Motors on NSE was Rs.1073 today.
Equiwise recommended investing in TATA MOTORS on 04-Jun-2009 when the stock was at Rs.369. Time to invest in stocks like Reliance Tata Motors for a 5 - 10 year horizon
See our other posts on TATA MOTORS:
Tata Motors enters Fortune 500 list
Incredible Stocks of India: TATA MOTORS
September 19, 2010
September 16, 2010
RBI hikes repo by 25 bps; reverse repo by 50 bps
The Reserve Bank of India (RBI), announced today, that repo is being increased by 25 basis points (bps) and the reverse repo by 50 basis points (bps). The repo rate is now 6% and reverse repo is 5%.
What is a Repo Rate?
The rate at which banks borrow funds from RBI is called Repo Rate. Banks usually borrow funds When there is a paucity of funds banks turn to RBI to cover the short-fall, by borrowing from RBI.
What is a Reverse Repo Rate?
The rate at which RBI borrows funds from banks is called Reverse Repo Rate.
Any increase in Reverse Repo Rate is usually welcomed by banks, because the money they lend to RBI is safe and earns a decent rate of interest as well.
What is a Repo Rate?
The rate at which banks borrow funds from RBI is called Repo Rate. Banks usually borrow funds When there is a paucity of funds banks turn to RBI to cover the short-fall, by borrowing from RBI.
What is a Reverse Repo Rate?
The rate at which RBI borrows funds from banks is called Reverse Repo Rate.
Any increase in Reverse Repo Rate is usually welcomed by banks, because the money they lend to RBI is safe and earns a decent rate of interest as well.
September 8, 2010
Reliance - GTL tower deal called off
GTL Infrastructure said its deal with Reliance Communications to merge their telecoms tower businesses has been called off after both sides failed to agree on a deal by the August 31 deadline.
Despite efforts, both parties have neither extended the term sheet nor entered into any definitive transaction agreements as envisaged therein.
A statement from Reliance Communications said, “Following the expiry of the non-binding term sheet with GTL Infrastructure, Reliance Communications is now engaged in discussions with certain other strategic and financial investors, to pursue a similar transaction aimed at significant reduction in the company's debt and unlocking of value for RCom shareholders from the passive infrastructure and related assets in its 95 per cent-owned subsidiary, Reliance Infratel”.
Reliance Infratel is also proposing an initial public offering (IPO) of its equity shares and has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
Despite efforts, both parties have neither extended the term sheet nor entered into any definitive transaction agreements as envisaged therein.
A statement from Reliance Communications said, “Following the expiry of the non-binding term sheet with GTL Infrastructure, Reliance Communications is now engaged in discussions with certain other strategic and financial investors, to pursue a similar transaction aimed at significant reduction in the company's debt and unlocking of value for RCom shareholders from the passive infrastructure and related assets in its 95 per cent-owned subsidiary, Reliance Infratel”.
Reliance Infratel is also proposing an initial public offering (IPO) of its equity shares and has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
August 22, 2010
SBI NET PROFIT CROSSES RECORD 10,000 CRORES
For the first time ever in the Indian banking sector net profit of an Indian bank is going to cross Rs.10,000 crores for FY11.
SBI chairman Mr.O.P. Bhatt stated "It (net profit) should cross Rs.10,000 crore this year".
The rise in net profit was due to a rise of 45.3 percent in net interest income.
SBI chairman Mr.O.P. Bhatt stated "It (net profit) should cross Rs.10,000 crore this year".
The rise in net profit was due to a rise of 45.3 percent in net interest income.
August 6, 2010
Indian economy to double to $2 trillion post GST
Finance Minister Pranab Mukherjee recently said successful implementation of the goods and service tax (GST) can give a trillion-dollar boost to the economy, taking the total output to $2 trillion in a short span of time.
"The gain from GST will propel the country from one-trillion dollar economy to two trillion-dollar economy in a short span of time," he said while addressing a meeting of the industry chamber Ficci.
The country's gross domestic product (GDP) at the market and current prices was measured at USD 1.31 trillion in 2009-10 and is estimated to be USD 1.52 trillion in the current fiscal, the PMEAC said in its latest economic outlook.
(PMEAC is Prime Minister's Economic Advisory Council)
Pegging the GDP growth at nine per cent, the economy would reach a level of USD 1.72 trillion in 2011-12, it said.
If the nine per cent growth trend is maintained, India would become USD two trillion economy in 2013-14 fiscal.
"The gain from GST will propel the country from one-trillion dollar economy to two trillion-dollar economy in a short span of time," he said while addressing a meeting of the industry chamber Ficci.
The country's gross domestic product (GDP) at the market and current prices was measured at USD 1.31 trillion in 2009-10 and is estimated to be USD 1.52 trillion in the current fiscal, the PMEAC said in its latest economic outlook.
(PMEAC is Prime Minister's Economic Advisory Council)
Pegging the GDP growth at nine per cent, the economy would reach a level of USD 1.72 trillion in 2011-12, it said.
If the nine per cent growth trend is maintained, India would become USD two trillion economy in 2013-14 fiscal.
July 20, 2010
GTL is now world's largest telecom tower company
GTL Infrastructure said on Monday it has completed the acquisistion of 17,500 telecom towers of Aircel for Rs.8026 crore.
GTL Infra now has around 32,500 towers making it the world's largest independent tower company.
GTL is expected to have an additional annual revenue of Rs.720 crore from the Aircel deal taking the aggregate annual revenue to Rs.1350 - 1400 crore.
GTL is in talks with RCom for merging RCom's tower arm with GTL creating an entity with 85,000 towers valued approximately at Rs.50,000 crore. GTL will pay RCom cash and offer its shares to Reliance shareholders as part of the proposed merger.
GTL Infra now has around 32,500 towers making it the world's largest independent tower company.
GTL is expected to have an additional annual revenue of Rs.720 crore from the Aircel deal taking the aggregate annual revenue to Rs.1350 - 1400 crore.
GTL is in talks with RCom for merging RCom's tower arm with GTL creating an entity with 85,000 towers valued approximately at Rs.50,000 crore. GTL will pay RCom cash and offer its shares to Reliance shareholders as part of the proposed merger.
July 18, 2010
Dvidend windfall for promoters in India
It is raining dividends for promoters in India. Details of top 10 beneficiaries and dividend payouts in the private sector:
Ratan Tata - Tata Sons - Rs.3413.68cr **
Mukesh Ambani - Reliance Ind - Rs.1024.74cr
Azeem Premji - Wipro - Rs.700.58cr
BM Munjal - Hero Honda - Rs.636.14cr
Rahul Bajaj - Bajaj Auto - Rs.287.15cr
Anil Ambani - Rcom, Rcap & Rel Infra - Rs.278.87cr
Narayana Murthy - Infosys - Rs.230.21cr
Kalanithi Maran - Sun TV - Rs.227.59cr
Dilip Sanghvi - Sun Pharma - Rs.181.45cr
Sunil Mittal - Bharti Airtel - Rs.172.55cr
** Tatas with 3.2 lakh crore in sales were the biggest beneficiaries with dividend doubling to Rs 3,833 crore. But these mostly belong to trusts and very little into the personal account of its chairman Ratan Tata.
Ratan Tata - Tata Sons - Rs.3413.68cr **
Mukesh Ambani - Reliance Ind - Rs.1024.74cr
Azeem Premji - Wipro - Rs.700.58cr
BM Munjal - Hero Honda - Rs.636.14cr
Rahul Bajaj - Bajaj Auto - Rs.287.15cr
Anil Ambani - Rcom, Rcap & Rel Infra - Rs.278.87cr
Narayana Murthy - Infosys - Rs.230.21cr
Kalanithi Maran - Sun TV - Rs.227.59cr
Dilip Sanghvi - Sun Pharma - Rs.181.45cr
Sunil Mittal - Bharti Airtel - Rs.172.55cr
** Tatas with 3.2 lakh crore in sales were the biggest beneficiaries with dividend doubling to Rs 3,833 crore. But these mostly belong to trusts and very little into the personal account of its chairman Ratan Tata.
July 16, 2010
India's growing presence in fortune 500 companies
From just one Fortune 500 company (IOC) in 2003 to 8 in 2010
------------------------------------------------------------------------------
Eight Indian companies, including oil major Indian Oil Corporation and Mukesh Ambani-led Reliance Industries, have made the cut in the list of the world's 500 largest companies compiled by Fortune magazine.
IOC has the highest rank of 125 among the featured Indian companies, followed by RIL at the 175th spot, SBI (282), BPCL (307), HPCL (354), Tata Steel (410), ONGC (413) and Tata Motors (442).
IOC had revenues to the tune of $54.28 billion, RIL $41.08 billion, SBI
$28.21 billion, BPCL $26.59 billion, HPCL $23.88 billion, Tata Steel
$21.58 billion, ONGC $21.44 billion and Tata Motors $19.5 billion.
------------------------------------------------------------------------------
Eight Indian companies, including oil major Indian Oil Corporation and Mukesh Ambani-led Reliance Industries, have made the cut in the list of the world's 500 largest companies compiled by Fortune magazine.
IOC has the highest rank of 125 among the featured Indian companies, followed by RIL at the 175th spot, SBI (282), BPCL (307), HPCL (354), Tata Steel (410), ONGC (413) and Tata Motors (442).
IOC had revenues to the tune of $54.28 billion, RIL $41.08 billion, SBI
$28.21 billion, BPCL $26.59 billion, HPCL $23.88 billion, Tata Steel
$21.58 billion, ONGC $21.44 billion and Tata Motors $19.5 billion.
Wal-Mart (USA) tops the Fortune 500 list with revenues of $408. 21 billion.
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