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.
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