Times of IndiaPosted by Yogesh on Tuesday, 24 June, 2008
NEW DELHI – India’s economic “miracle” is being examined more critically, as inflation hits a 13-year-high and growth is expected to tail off.
Economists say the problems underline the dangers of complacency about the country’s economic potential.
Here are some of the key economic and market indicators which have left investors questioning the euphoria over India.
Posted in Indian Economy | Leave a Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
MUMBAI (Thomson Financial) – Oil and Natural Gas Corporation Ltd. (ONGC), India’s biggest oil and gas explorer, said it will sell its 46-percent stake in its refinery and petrochemical plant in Kakinada, citing a lack of tax incentives.
Sources told Thomson Financial News that the stake in Kakinada Refinery and Petrochemicals (KRPL), located in the southern Indian state of Andhra Pradesh, will be sold to the GMR Group through ONGC’s Mangalore Refinery and Petrochemicals Ltd. unit.
Posted in Corporate News | Tagged: Kakinada Refinery, ONGC, Sell | Leave a Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
LONDON (Thomson Financial) – India Hospitality Corp. said full-year revenues rose 42.8 percent to $35.2 million, and that it was in a strong position to take advantage of opportunities, with 35 new regional airports under construction in India.
For the year to March 31, the company said its two operating businesses, SkyGourmet and Mars Restaurants, full-year adjusted EBITDA rose 37 percent to $4.9 million.
Source CNBC
Posted in Financial Result | Tagged: India Hospitality Corp | Leave a Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
COURBEVOIE, France (Thomson Financial) – Compagnie de Saint-Gobain said it plans to build a new flat glass plant in India to meet the increasing demand of its customers there, and estimates the total investment cost at around 100 million euros.
This latest investment will be located in the North of India, about 65 km from Delhi. The plant will operate a very large float line, with Read the rest of this entry »
Posted in Sector Spotlight | Tagged: Investment, Saint-Gobain | 1 Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
PARIS (Thomson Financial) – French cement maker Vicat said it has formed a joint venture with Sagar Cements to build a $625 million cement plant at Gulbarga in the Indian state of Karnataka.
The Vicat Sagar venture will be 51 percent owned by Vicat and 49 percent by Sagar, with Vicat acquiring a 6.6 percent shareholding in Sagar Cements.
Posted in Corporate News | Tagged: Sagar Cements, venture | Leave a Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
MUMBAI, June 24 – India’s Mahindra & Mahindra Ltd is looking to sell more than 10 percent of its used-car business to private equity firm Phi Advisors for about 800 million rupees , the Economic Times reported on Tuesday citing sources.
Mahindra, India’s top utility vehicle maker, will use the funds to expand its multi-brand used-car business First Choice, the newspaper said .
Posted in Corporate News | Tagged: Mahindra, Sell | Leave a Comment »
Posted by Yogesh on Tuesday, 24 June, 2008
MUMBAI, June 24 – India’s iron ore exports are set to fall sharply with Chinese steel firms likely to raise term supplies from Australia following a price settlement, Indian trade officials said on Tuesday.
Indian exports, already highly taxed, would be hit after China’s Baosteel agreed to pay 96.5 percent more to Australian miner Rio Tinto , Read the rest of this entry »
Posted in Sector Spotlight | Tagged: Baosteel, Rio | Leave a Comment »
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