Ad Ani

NW18: Summary of Stories on NW18 EquityWire - Aug 1 NW18: Summary of Stories on NW18 EquityWire - 1800 IST Mundra adds
to its coal terminal facilities abroad Adani grows ports business overseas with A$1.8 bn buy Mundra acquires Australian port Abbot Point for A$ 1.8 bln Mundra Port Wins Bid for Australia Coal Terminal IIFL Infrastructure Highlights for Year 2010 Coal-mine acquisitions by India Inc rise sharply Adani to invest $6.9 bn in developing Oz coal project Adani to invest $6.9 bn in developing Australian coal project BRIEFING - ASIA MINING - OCT 14, 2010
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NW18: Summary of Stories on NW18 EquityWire - Aug 1 10,889 words 2 August 2011 NewsWire18 - MoneyWire NWMONI English Copyright 2011. NewsWire18 Ltd. NewsWire18, Tuesday, Aug 2 . MUMBAI - Following is a summary of stories that ran on NW18 EquityWire Monday: . (NW18's Web subscribers can click on the hyperlink to the story) . TOP STORIES ----------. SEBI seeks views on regulating alternative investment funds Securities and Exchange Board of India plans to make it mandatory for all portfolio managers who seek to pool assets for investing in unlisted securities to register as an alternative investment fund. WebLink://Click here for story:/id=18119 - 01-08-2011/go . Kotak Mahindra Bank ups Base Rate, BPLR by 25 bps from Tue Kotak Mahindra Bank today announced a 25-basis-point hike in its Base Rate and Benchmark Prime Lending Rate. The hike will come into effect from Tuesday, the bank said in a release. WebLink://Click here for story:/id=17555 - 01-08-2011/go . Maruti Suzuki Jul sales dn 25% as co halts production of old Swift If labour unrest had hit June sales of Maruti Suzuki India Ltd, the company reported lower July sales as it stopped making the old model of Swift car and shifted sedan Dzire's production to its Gurgaon unit from Manesar. The country's largest carmaker today said its July total sales were Down 25.3% on year at 75,300 units. It sold 80,298 vehicles in June, down 9% on year. WebLink://Click here for story:/id=14062 - 01-08-2011/go . PM advisory panel cuts FY12 GDP growth forecast to 8.2% from 9.0% The Prime Minister's Economic Advisory Council today sharply cut the gross domestic product growth forecast for 2011-12 (Apr-Mar) to 8.2% from 9.0% projected in February. The Indian economy had grown at 8.5% in 2010-11. WebLink://Click here for story:/id=15638 - 01-08-2011/go . Source says fin min exploring ways for ONGC off-mkt deal vs FPO The finance ministry is mulling off-market deals for divestment in Oil and Natural Gas Corp Ltd if the company's proposed follow-on public issue fails to take off due to poor market conditions, a senior government
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official said today. WebLink://Click here for story:/id=16922 - 01-08-2011/go . . OTHER STORIES ----------------------------------------------------------------------------. Source says NALCO ups aluminium product prices by 5,000 rupees/tn National Aluminium Co Ltd has raised price of all its aluminium products by 5,000 rupees a tn with immediate effect, a source told NewsWire18 today. WebLink://Click here for story:/id=18238 - 01-08-2011/go . Kazstroy Service open offer for 20% in Petron Engg to open Fri The open offer from Kazstroy Service Global BV and eight other entities for up to 20% additional stake in Petron Engineering Construction Ltd will start Aug 5 and close Aug 24, Citigroup Global Markets India Pvt Ltd said in a notice today. WebLink://Click here for story:/id=18131 - 01-08-2011/go . Iran says looking for "stable" currency to replace US dollar Iran is on the lookout for an alternative "stable" currency that can help it avoid the roadblocks it faces, due to certain US sanctions, over receiving payment in dollars for its crude oil exports, Deputy Foreign Minister Syed Amir Mansour Borghei said here today. WebLink://Click here for story:/id=18175 - 01-08-2011/go . Usher Agro inks MoU with US firm to manufacture fortified rice Usher Agro Ltd, one of the country's largest rice millers, has entered into a Memorandum of Understanding with a US-based company to manufacture fortified rice, the company said in a release today. WebLink://Click here for story:/id=18128 - 01-08-2011/go . CMD says Suzlon market share to remain over 50% for at least 5 yrs Suzlon Energy Ltd will continue to have over 50% share of the domestic turbine market for the next five years, Chairman and Managing Director Tulsi Tanti told analysts during a conference call today. WebLink://Click here for story:/id=18127 - 01-08-2011/go . TRP Watch: India-England cricket grabs lion's shr in wk to Jul 23 Television audiences were in the grips of cricket fever in the week ended Jul 23, as the Indian cricket team's England odyssey attracted viewers by the droves. WebLink://Click here for story:/id=18121 - 01-08-2011/go . Fortis Healthcare plans to set up six hospitals with 1,400 beds Fortis Healthcare (India) Ltd today said it plans to set up six hospitals in south and west India, which will increase its total capacity by 1,400 beds to 9,700. WebLink://Click here for story:/id=18080 - 01-08-2011/go .
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Pranab hopes for renewed synergy with India Inc to boost growth Finance Minister Pranab Mukherjee today hoped that his meeting with captains of the Indian industry would help build synergy to boost the country's economic growth. WebLink://Click here for story:/id=18078 - 01-08-2011/go . NMDC expects to get Cabinet nod soon for iron ore exports NMDC Ltd expects to get Cabinet approval for iron ore exports shortly, Chairman and Managing Director Rana Som said here today. The state-owned mining major's exports approval expired in April. WebLink://Click here for story:/id=17974 - 01-08-2011/go . Govt likely to present supplementary demands for grants Tue Finance Minister Pranab Mukherjee is likely to present the first supplementary demands for grants in Lok Sabha on Tuesday and seek Parliament approval for additional expenditure for 2011-12 (Apr-Mar). WebLink://Click here for story:/id=17973 - 01-08-2011/go . Hero MotoCorp July total sales dn 4% sequentially at 491,036 units Hero MotoCorp Ltd, formerly Hero Honda Motors Ltd, today said it sold 491,036 vehicles in July, down about 4% from the previous month. The company had sold 512,244 vehicles in June. WebLink://Click here for story:/id=17948 - 01-08-2011/go . Source says GVK Power may cut stake in some oil exploration blocks De-risking seems to be the new business mantra for companies in the domestic oil and gas exploration space. After Reliance Industries Ltd, GVK Power & Infrastructure Ltd is looking to pare its stake in some deepwater exploration blocks, a source close to the development told NewsWire18. WebLink://Click here for story:/id=17942 - 01-08-2011/go . India Oct 1 sugar stocks seen 5.9 mln tn, about 1 mln tn up on yr India's Oct 1 sugar stocks are seen at 5.9 mln tn, up from 4.9 mln tn a year ago, Food Minister K.V. Thomas said today. WebLink://Click here for story:/id=17873 - 01-08-2011/go . UltraTech Cement Jul despatches up 7.4% on yr, production up 7.3% India's largest cement maker by capacity, UltraTech Cement Ltd's despatches rose 7.4% on year to 3.13 mln tn in July, a company release today said. WebLink://Click here for story:/id=17759 - 01-08-2011/go . Kanpur Plastipack OKs 1-for-2 bonus share issue Kanpur Plastipack Ltd's board of director today approved a bonus issue of one share for every two held, the company said in a regulatory filing. WebLink://Click here for story:/id=17746 - 01-08-2011/go . RBI Subbarao stresses "need to raise rates to restrain inflation" There is a need to increase interest rates in order to curb inflationary pressures and India may have to sacrifice some growth in the near-term to attain more sustainable economic expansion, Reserve Bank of India Governor D. Subbarao said today. WebLink://Click here for story:/id=17738 - 01-08-2011/go . FIEO says India exports may fall from Oct post DEPB sop withdrawal
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India's export may slow down in second half of the current financial year ending March following the withdrawal of Duty Entitlement Passbook Scheme from Oct 1, Federation of Indian Exports Organisation today said. WebLink://Click here for story:/id=17684 - 01-08-2011/go . Pawar favours more sugar, non-basmati rice, cotton, wheat exports Agriculture Minister Sharad Pawar today said he favours additional exports of wheat, sugar, non-basmati rice, and cotton. "I honestly feel, if we carefully examine, there is a case for wheat exports...the same thing applies for rice, sugar, and cotton exports," he told reporters. WebLink://Click here for story:/id=17668 - 01-08-2011/go . Divestment Watch: Tracking Sale Of Government Stakes In Companies WebLink://Click here for story:/id=17666 - 01-08-2011/go . Eicher Trucks and Buses Jul total sales 4,152 units, up 34% on yr Eicher Trucks and Buses, a unit of VE Commercial Vehicles Ltd, today said the company sold 4,152 vehicles in July, up 34% from the corresponding month a year ago. WebLink://Click here for story:/id=17664 - 01-08-2011/go . RESEARCH: Nomura says "buy" shares of Crompton Greaves WebLink://Click here for story:/id=17662 - 01-08-2011/go . IMD sees Aug-Sep rains below normal at 90% of long period average India is likely to receive "below normal" rainfall during Aug-Sep at 90% of the long period average, with a model error of 8%, the India Meteorological Department said today in its long-range forecast for the second-half of the Jun-Sep monsoon season. WebLink://Click here for story:/id=17595 - 01-08-2011/go . Jaiprakash Associates Jul cement despatches 1.45 mln tn, up 19% Jaiprakash Associates Ltd despatched 1.45 mln tn cement in July, 19% higher than 1.22 mln tn a year ago, a company release today said. WebLink://Click here for story:/id=17572 - 01-08-2011/go . Tata, 19 others bid for Odisha 4,000 MW plant; Rel Power stays away The government's flagging ultra mega power generation project scheme has got the much-needed shot in the arm. WebLink://Click here for story:/id=17561 - 01-08-2011/go . INTERVIEW: Cost cuts, price hike to lift Action Construction margin Alarmed by the sharp fall in profit margins, Action Construction Equipment Ltd, the maker of material handling and construction equipment, has started hiking prices and trimming costs, Executive Director Sorab Agarwal told NewsWire18. WebLink://Click here for story:/id=17483 - 01-08-2011/go . INTERVIEW: Head says Infosys BPO revenue may top $500-mln mark FY12 Infosys BPO Ltd is trying a different stroke to drive its growth in the current financial year. The business process outsourcing vertical of Infosys Ltd is leveraging its parent's "power of technology" to support its offerings. WebLink://Click here for story:/id=14782 - 01-08-2011/go
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. PSU oil cos' daily revenue loss now seen up 4.7% from Jul 2nd half State-owned oil marketing companies' total daily revenue loss on subsidised fuel sale is seen at 2.46 bln rupees in the current fortnight, up 4.7% from the latter half of July due to higher global prices of crude oil, official data showed today. WebLink://Click here for story:/id=14447 - 01-08-2011/go . Tata Motors vehicle sales in July 63,761 units, down 6% on year Tata Motors Ltd's sales volumes in July declined 6% from a year ago to 63,761 vehicles as sale of its passenger vehicles fell a sharp 39% to 18,294 units in the month, the company said in a release today. In June, the company had sold 66,358 vehicles. WebLink://Click here for story:/id=16409 - 01-08-2011/go . M&M total sales, excluding tractors, in July 39,633 units, up 41% Mahindra & Mahindra Ltd's total sales, excluding tractors, in July rose 41% on year, and 11.5% on month to 39,663 units, the company said today. In June the company had sold 35,584 units. WebLink://Click here for story:/id=15635 - 01-08-2011/go . Tata Power, Lanco among bidders for Odisha ultra mega project The government's flagging ultra mega power generation project today got the much-needed shot in the arm. WebLink://Click here for story:/id=15321 - 01-08-2011/go . ACC Jul cement despatches up 28% on year, production rises 31% ACC Ltd despatched 2.00 mln tn cement in July, 28% higher than 1.56 mln tn a year ago, a company release today said. The company produced 2.03 tn cement in the month, 31% more than 1.55 mln tn last year. WebLink://Click here for story:/id=16951 - 01-08-2011/go . Mercator Lines, Milestone shelve plan for dry bulk-focused PE fund With the global shipping market battling rough weather, India's second largest private sector shipping firm Mercator Lines Ltd has shelved plans to launch a private equity fund focussed on dry bulk shipping vessels. WebLink://Click here for story:/id=15524 - 01-08-2011/go . IOC Apr-Jun gross revenue loss likely 238 bln rupee, up 116% on yr State-owned Indian Oil Corp Ltd is likely to have incurred a gross revenue loss of 238 bln rupees during the June quarter on subsidised fuel sales, up 116% from the corresponding period a year ago, a company source told NewsWire18. WebLink://Click here for story:/id=15268 - 01-08-2011/go . Star Alliance puts Air India's membership application on hold Star Alliance, a consortium of 27 airlines, has put on hold Air India's application for membership into the global network, as the state-owned carrier did not meet the minimum joining conditions. Star Alliance members include Lufthansa, Air Canada, Singapore Airlines,Thai Airways, and Swiss. The network has a fleet of more than 4,000 aircraft flying to 181 countries. WebLink://Click here for story:/id=12858 - 01-08-2011/go . Maruti Suzuki moves Dzire production to Gurgaon from Manesar Maruti Suzuki India Ltd has shifted the production of its entry-level
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sedan Dzire to Gurgaon from Manesar in order to focus on producing more numbers of the new Swift hatchback model at the latter. WebLink://Click here for story:/id=13453 - 01-08-2011/go . INTERVIEW: Sucden sees India 2011-12 sugar exports at 2-3 mln tn India could export about 2-3 mln tn sugar in the next season starting October on the back of higher production, Sucden India Managing Director Yatin Wadhwana said. WebLink://Click here for story:/id=16772 - 01-08-2011/go . INTERVIEW: Radio Mirchi parent co gung-ho on bandwidth auctions Ahead of the third phase of auction of frequencies for operating more FM radio channels in the country, Prashant Panday, the chief executive officer of Entertainment Network (India) Ltd, is busy strategising to bag a sizeable chunk of new licences and amplify its leadership bandwidth. WebLink://Click here for story:/id=17099 - 01-08-2011/go . INTERVIEW: Aurobindo sees $40 mln FY12 revenue loss on US FDA alert An import alert followed by a warning from the US Food and Drug Administration will hit Aurobindo Pharma Ltd's revenue growth in the current financial year that began Apr 1. The company's head expects revenue losses to the tune of $40 mln in 2011-12 (Apr-Mar) due to the actions taken by the US drug regulator. WebLink://Click here for story:/id=17007 - 01-08-2011/go . Gujarat govt seeks bids for two 2.5 MW photovoltaic solar projects The Gujarat government has invited bids for developing two rooftop grid connected solar photovoltaic power projects of 2.5 MW capacity each in Gandhinagar, according to an advertisement in various newspapers. WebLink://Click here for story:/id=10312 - 01-08-2011/go . State-run oil cos up jet fuel prices by average 1,584 rupees/kL State-owned oil marketing companies today raised prices of aviation turbine fuel by an average 1,583.87 rupees a kL in the four metros with effect from midnight, data published by state-owned Indian Oil Corp Ltd showed. WebLink://Click here for story:/id=10428 - 01-08-2011/go . TVS Motor Jul total sales up 14% on year; motorcycles up 15% TVS Motor Co Ltd sold 186,672 two-wheelers in July, up 14% from the same month a year ago, the company said in a statement today. While motorcycle sales during the month grew 15% on year, scooter sales rose 22%. WebLink://Click here for story:/id=13069 - 01-08-2011/go . Sterlite Energy, Jindal arm among bidders for 48% in BHEL project Three private sector companies have bid for a 48% stake in a 1,600-MW power generation project being promoted by Bharat Heavy Electricals Ltd and Madhya Pradesh Power Generating Co Ltd in the state, a senior official in the joint venture company told NewsWire18 today. WebLink://Click here for story:/id=12797 - 01-08-2011/go . Highlights of PM econ panel head Rangarajan's comments WebLink://Click here for story:/id=14294 - 01-08-2011/go .
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Indian Bank in tie-up with SBI Mutual Fund to sell MF products Indian Bank has entered into an agreement with SBI Mutual Fund to sell mutual fund products, the bank said in a notice to the Bombay Stock Exchange today. Indian Bank has similar agreements with Reliance Mutual Fund and UTI Mutual Fund. WebLink://Click here for story:/id=14225 - 01-08-2011/go . India's crude oil basket price dn $1.35 at $112.66 per barrel Fri The price of India's crude oil basket was at $112.66 a barrel Friday, down $1.35 from a day earlier, petroleum ministry data showed today. India's oil basket comprises Oman-Dubai sour grade and dated Brent sweet crude in a 67.6:32.4 ratio. WebLink://Click here for story:/id=14173 - 01-08-2011/go . India Jul HSBC manufacturing PMI slips to 20-month-low of 53.6 HSBC manufacturing Purchasing Managers' Index for India fell to a 20-month-low of 53.6 in July from 55.3 in the previous month. "The momentum in the manufacturing sector eased further in July as sequential growth in output and new orders slowed, although employment picked up," HSBC Chief Economist for India and ASEAN Leif Eskesen said. WebLink://Click here for story:/id=14058 - 01-08-2011/go . Rural Electrification plans to raise up to $1 bln via FCCB FY12 State-owned lender to the power sector Rural Electrification Corp Ltd, plans to raise up to $1 bln via foreign currency convertible bonds in the current financial year started April, a top official of the company told NewsWire18 today. WebLink://Click here for story:/id=13655 - 01-08-2011/go . Adani Enterprises clarifies on illegal ore mining in Karnataka Adani Enterprises Ltd has no link with illegal iron ore mining in Karnataka as alleged in the report by the Karnataka Lokayukta, Adani group's Chief Financial Officer Devang Desai said. WebLink://Click here for story:/id=13239 - 01-08-2011/go . Suzlon Energy returns to profit, posts 601.2 mln rupees PAT Apr-Jun Suzlon Energy Ltd has surprised the market by swinging into profit during Apr-Jun, led by strong sales that swelled 80% over the corresponding quarter last year. WebLink://Click here for story:/id=12663 - 01-08-2011/go . Four Soft arm to offer logistic solutions to UK's House of Freight Four Soft Ltd's has bagged an order to provide logistics solutions to UK-based House of Freights, the Indian company said in a release today. The company did not detail the financials of the contract, which will be executed by its wholly-owned UK arm. WebLink://Click here for story:/id=15457 - 01-08-2011/go . Karnataka iron ore mine survey yet to start in Chitradurga, Tumkur The survey of Karnataka's iron ore mines is in progress in the Bellary-Hospet region and is yet to begin in the Chitradurga and Tumkur districts, a government official told NewsWire18 today. WebLink://Click here for story:/id=15141 - 01-08-2011/go . Essar Energy completes acquisition of Shell's Stanlow refinery
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Essar Energy Plc has completed the $350-mln acquisition of Shell UK Ltd's refinery and some related local marketing businesses at Stanlow in Cheshire, the company said in a release today. WebLink://Click here for story:/id=14855 - 01-08-2011/go . Highlights of PM econ panel head Rangarajan's comments WebLink://Click here for story:/id=14783 - 01-08-2011/go . Suzlon Energy OKs raising up to 50 bln rupees The board of Suzlon Energy Ltd has approved raising up to 50 bln rupees through a combination of equity linked instruments or any other instruments, the company said in a release today. The company will now seek shareholder approval for the raising the funds at its forthcoming annual general meeting, the release said. WebLink://Click here for story:/id=14545 - 01-08-2011/go . Hind Zinc cuts lead price by 2,900 rupees/tn to 134,100 rupees Hindustan Zinc Ltd today slashed lead price by 2,900 rupees per tn to 134,100 rupees, the company said on its website. The company, however, left zinc price unchanged at 126,900 rupees per tn. WebLink://Click here for story:/id=14465 - 01-08-2011/go . Hind Zinc cuts lead price by 2,900 rupees/tn to 134,100 rupees Hindustan Zinc Ltd today slashed lead price by 2,900 rupees per tn to 134,100 rupees. The company, however, left zinc price unchanged at 126,900 rupees per tn. WebLink://Click here for story:/id=14454 - 01-08-2011/go . Hyundai India Jul total sales 49,667 units, down 1.5% on yr Hyundai Motor India Ltd today said it sold a total 49,667 vehicles in July, down 1.5% from a year ago. The Korean carmaker's Indian arm had sold a total of 52,531 vehicles in June. WebLink://Click here for story:/id=16853 - 01-08-2011/go . Rural Electrification plans to raise up to $1 bln via FCCB FY12 State-owned lender to the power sector Rural Electrification Corp Ltd plans to raise up to $1 bln via foreign currency convertible bonds in the current financial year started April, a top official of the company told NewsWire18 today. WebLink://Click here for story:/id=16250 - 01-08-2011/go . Source says Aavishkaar Venture aims $60 mln 1st close for PE fund Mumbai-based Aavishkaar Venture Management Services Pvt Ltd is targeting a first closure of $60 mln for its proposed fourth fund by end of August, a source familiar with the development told NewsWire18. WebLink://Click here for story:/id=15938 - 01-08-2011/go . Residency Projects acquires online travel portal BonVoyage.in Bangalore-based Residency Projects and Infratech Ltd has acquired online travel portal BonVoyage.in for an undisclosed amount. Residency Projects, a real estate and infrastructure company, will merge BonVoyage with its 100% subsidiary Valuemart Travel Solutions Pvt Ltd, the former said in a regulatory filing today. WebLink://Click here for story:/id=15713 - 01-08-2011/go . Source says GVK Power may cut stake in some oil exploration blocks
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De-risking seems to be the new business mantra for companies in the domestic oil and gas exploration space. After Reliance Industries Ltd, GVK Power & Infrastructure Ltd is looking to pare its stake in some deepwater exploration blocks, a source close to the development told NewsWire18. WebLink://Click here for story:/id=16911 - 01-08-2011/go . Highlights of RBI Governor D. Subbarao's comments WebLink://Click here for story:/id=16960 - 01-08-2011/go . Mahindra Aerospace in talks to buy stake in aircraft parts maker Mahindra Group's aerospace division Mahindra Aerospace Pvt Ltd is in talks with more than one aircraft parts maker in Europe and the US for a possible acquisition. WebLink://Click here for story:/id=17325 - 01-08-2011/go . Govt appoints MC Joshi as new Central Board of Direct Tax chairman The government appointed M.C. Joshi as the new chairman of Central Board of Direct Taxes, a press release said today. Joshi, a 1974-batch Indian Revenue Service officer, took charge today after Prakash Chandra retired on Jul 31. WebLink://Click here for story:/id=17285 - 01-08-2011/go . ABB gets orders worth 161 mln rupees for 3 solar power plants ABB Ltd has bagged orders worth 161 mln rupees for supply of turnkey power and automation solutions for three photovoltaic solar power plants with a combined capacity of 11 MW. WebLink://Click here for story:/id=17280 - 01-08-2011/go . PM advisory panel cuts FY12 GDP growth forecast to 8.2% from 9.0% The Prime Minister's Economic Advisory Council today sharply cut the gross domestic product growth forecast for 2011-12 (Apr-Mar) to 8.2% from 9.0% projected in February. WebLink://Click here for story:/id=17188 - 01-08-2011/go . India-Japan bilateral trade seen $25 bln by 2014 vs $12.6 bln now The bilateral trade between India and Japan is expected to rise to $25 bln by 2014 against $12.6 bln currently, the commerce and industry ministry said in a release. WebLink://Click here for story:/id=17081 - 01-08-2011/go . DCOM Systems hikes stake in Jaihind Projects to 36.06% from 14.18% Jaihind Projects Ltd today said DCOM Systems Ltd has raised stake in the company to 36.06% from 14.18%. WebLink://Click here for story:/id=17339 - 01-08-2011/go . PM to chair review meeting on performance of Indian ports today Prime Minister Manmohan Singh will review the working of ports in the country later today, a government official said today. Finance Minister Pranab Mukherjee and Shipping Minister G.K. Vasan are among those who would attend the meeting. WebLink://Click here for story:/id=17334 - 01-08-2011/go . RBI Subbarao stresses "need to raise rates to restrain inflation" There is a need to increase interest rates in order to curb inflationary pressures and India may have to sacrifice some growth in the near-term to attain more sustainable economic expansion, Reserve Bank of India Governor D. Subbarao said today.
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WebLink://Click here for story:/id=17054 - 01-08-2011/go . Ambuja cements Jul despatches up 14% on year, production rises 18% Ambuja Cements Ltd despatched 1.70 mln tn cement in July, 14% higher than 1.49 mln tn a year ago, a company release today said. The company's cement production during the month rose 18% to 1.67 mln tn, against 1.41 mln tn in the corresponding month last year. WebLink://Click here for story:/id=17051 - 01-08-2011/go . ARSS Infrastructure-Atlanta consortium gets 2.2-bln-rupee order Atlanta-ARSS Consortium, a joint venture between Atlanta Ltd and ARSS Infrastructure Projects Ltd, has won a 2.2-bln-rupee order from the Punjab Infrastructure Development Board to design, build, finance, and operate the Ropar-Chamkaur Sahib-Neefon-Dorah road near Chandigarh, ARSS Infrastructure said in a release today. WebLink://Click here for story:/id=17011 - 01-08-2011/go . First State Investment ups stake in Idea Cellular to 5.02% vs 3.29% First State Investment Management (UK) Ltd has raised its stake in Idea Cellular Ltd to 5.02% from 3.29%, the latter informed the Bombay Stock Exchange today. WebLink://Click here for story:/id=17376 - 01-08-2011/go . CRICKET: India 8/1 in second innings vs England - 2nd Test WebLink://Click here for story:/id=17390 - 01-08-2011/go . . VIDEO: CNBC-TV18: StanChart says FMCG sector may be re-rated WebLink://Click here for story:/id=12414 - 01-08-2011/go . . EARNINGS -------Nifty Earnings Poll: Consensus estimates of Apr-Jun net, sales WebLink://Click here for story:/id=11565 - 01-08-2011/go . Highlights of Indian companies Apr-Jun earnings detailed so far WebLink://Click here for story:/id=18225 - 01-08-2011/go . Earnings Outlook: Bharti Airtel Apr-Jun net profit seen up 9% QoQ Aided by better margins in its African operations and growth in nonvoice segment, India's largest cellular services provider Bharti Airtel Ltd is likely to post a consolidated net profit of 15.31 bln rupees in Apr-Jun, a rise of 9% sequentially. WebLink://Click here for story:/id=18130 - 01-08-2011/go . Earnings Outlook: Flat volumes to pull dn DLF Apr-Jun net 5% on yr A mix of flat volumes, high interest costs and weak margins is expected to impact DLF Ltd's Apr-Jun earnings with the realty major's net profit likely to decline by 5% on year to 3.92 bln rupees. WebLink://Click here for story:/id=14201 - 01-08-2011/go . Delta Magnets Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=18182 - 01-08-2011/go Step Two Corp Apr-Jun earnings detailed table WebLink://Click here for story:/id=18177 - 01-08-2011/go
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HS India Apr-Jun earnings detailed table WebLink://Click here for story:/id=18174 - 01-08-2011/go Hatsun Agro Product Apr-Jun earnings detailed table WebLink://Click here for story:/id=18167 - 01-08-2011/go Arrow Textiles Apr-Jun earnings detailed table WebLink://Click here for story:/id=18153 - 01-08-2011/go Shriram EPC, UAE co consortium gets Australia storage tank order WebLink://Click here for story:/id=18134 - 01-08-2011/go Sibar Autoparts Apr-Jun earnings detailed table WebLink://Click here for story:/id=18125 - 01-08-2011/go Fine-Line Circuits Apr-Jun earnings detailed table WebLink://Click here for story:/id=18102 - 01-08-2011/go CCL International Apr-Jun earnings detailed table WebLink://Click here for story:/id=18098 - 01-08-2011/go Reliable Ventures India Apr-Jun earnings detailed table WebLink://Click here for story:/id=18096 - 01-08-2011/go Choksi Laboratories Apr-Jun earnings detailed table WebLink://Click here for story:/id=18070 - 01-08-2011/go Tatia Global Vennture Apr-Jun earnings detailed table WebLink://Click here for story:/id=18059 - 01-08-2011/go Velan Hotels Apr-Jun earnings detailed table WebLink://Click here for story:/id=18040 - 01-08-2011/go Linc Pen & Plastics Apr-Jun earnings detailed table WebLink://Click here for story:/id=18029 - 01-08-2011/go Rich Universe Network Apr-Jun earnings detailed table WebLink://Click here for story:/id=18026 - 01-08-2011/go Vybra Automet Apr-Jun earnings detailed table WebLink://Click here for story:/id=18021 - 01-08-2011/go Gandhinagar Hotels Apr-Jun earnings detailed table WebLink://Click here for story:/id=18012 - 01-08-2011/go Trishakti Electronics & Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=18004 - 01-08-2011/go Poly Medicure Apr-Jun earnings detailed table WebLink://Click here for story:/id=18003 - 01-08-2011/go Poly Medicure Apr-Jun earnings detailed table WebLink://Click here for story:/id=17999 - 01-08-2011/go Caprihans India Apr-Jun earnings detailed table WebLink://Click here for story:/id=17986 - 01-08-2011/go Unjha Formulations Apr-Jun earnings detailed table WebLink://Click here for story:/id=17961 - 01-08-2011/go Asian Tea & Exports Apr-Jun earnings detailed table WebLink://Click here for story:/id=17956 - 01-08-2011/go Ferro Alloys Corp Apr-Jun earnings detailed table WebLink://Click here for story:/id=17951 - 01-08-2011/go Amco India Apr-Jun earnings detailed table WebLink://Click here for story:/id=17946 - 01-08-2011/go Gopala Polyplast Apr-Jun earnings detailed table WebLink://Click here for story:/id=17932 - 01-08-2011/go Vyapar Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17924 - 01-08-2011/go Boston Bio Systems Apr-Jun earnings detailed table WebLink://Click here for story:/id=17920 - 01-08-2011/go Kamar Chemicals & Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17914 - 01-08-2011/go Mohit Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17900 - 01-08-2011/go Swiss Glascoat Equipments Apr-Jun earnings detailed table WebLink://Click here for story:/id=17889 - 01-08-2011/go GK Consultants Apr-Jun earnings detailed table WebLink://Click here for story:/id=17883 - 01-08-2011/go Chembond Chemicals Apr-Jun earnings detailed table
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WebLink://Click here for story:/id=17882 - 01-08-2011/go Jagsonpal Finance & Leasing Apr-Jun earnings detailed table WebLink://Click here for story:/id=17860 - 01-08-2011/go NG Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17859 - 01-08-2011/go Venus Universal Apr-Jun earnings detailed table WebLink://Click here for story:/id=17822 - 01-08-2011/go Arvind International Apr-Jun earnings detailed table WebLink://Click here for story:/id=17817 - 01-08-2011/go Andhra Petrochemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=17815 - 01-08-2011/go Avantel Apr-Jun earnings detailed table WebLink://Click here for story:/id=17813 - 01-08-2011/go Procal Electronics India Apr-Jun earnings detailed table WebLink://Click here for story:/id=17803 - 01-08-2011/go Ceejay Finance Apr-Jun earnings detailed table WebLink://Click here for story:/id=17791 - 01-08-2011/go Supertex Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17788 - 01-08-2011/go CIL Securities Apr-Jun earnings detailed table WebLink://Click here for story:/id=17779 - 01-08-2011/go Puneet Resins Apr-Jun earnings detailed table WebLink://Click here for story:/id=17776 - 01-08-2011/go Shamrock Industrial Co Apr-Jun earnings detailed table WebLink://Click here for story:/id=17774 - 01-08-2011/go Sunil Agro Foods Apr-Jun earnings detailed table WebLink://Click here for story:/id=17771 - 01-08-2011/go BNR Udyog Apr-Jun earnings detailed table WebLink://Click here for story:/id=17766 - 01-08-2011/go Virat Crane Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17762 - 01-08-2011/go Enterprise International Apr-Jun earnings detailed table WebLink://Click here for story:/id=17761 - 01-08-2011/go Yash Management & Satellite Apr-Jun earnings detailed table WebLink://Click here for story:/id=17756 - 01-08-2011/go Shilchar Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=17755 - 01-08-2011/go Photoquip India Apr-Jun earnings detailed table WebLink://Click here for story:/id=17754 - 01-08-2011/go Adi Finechem Apr-Jun earnings detailed table WebLink://Click here for story:/id=17745 - 01-08-2011/go Rai Saheb Rekhchand Mohota Apr-Jun earnings detailed table WebLink://Click here for story:/id=17741 - 01-08-2011/go Chaman Lal Setia Exports Apr-Jun earnings detailed table WebLink://Click here for story:/id=17740 - 01-08-2011/go Cosco India Apr-Jun earnings detailed table WebLink://Click here for story:/id=17733 - 01-08-2011/go Saarc Net Apr-Jun earnings detailed table WebLink://Click here for story:/id=17732 - 01-08-2011/go Ashiana Housing Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=17730 - 01-08-2011/go Washington Softwares Apr-Jun earnings detailed table WebLink://Click here for story:/id=17722 - 01-08-2011/go Mukesh Babu Financial Services Apr-Jun earnings detailed table WebLink://Click here for story:/id=17720 - 01-08-2011/go GEE Apr-Jun earnings detailed table WebLink://Click here for story:/id=17718 - 01-08-2011/go Tinna Overseas Apr-Jun earnings detailed table WebLink://Click here for story:/id=17716 - 01-08-2011/go ITL Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17711 - 01-08-2011/go
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Tamil Nadu Newsprint & Papers Apr-Jun earnings detailed table WebLink://Click here for story:/id=17706 - 01-08-2011/go Sarup Tanneries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17703 - 01-08-2011/go Inani Securities Apr-Jun earnings detailed table WebLink://Click here for story:/id=17694 - 01-08-2011/go Pasari Spinning Mills Apr-Jun earnings detailed table WebLink://Click here for story:/id=17692 - 01-08-2011/go Valson Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17688 - 01-08-2011/go Wadala Commodities Apr-Jun earnings detailed table WebLink://Click here for story:/id=17663 - 01-08-2011/go Himalya International Apr-Jun earnings detailed table WebLink://Click here for story:/id=17657 - 01-08-2011/go Saarc Net Apr-Jun earnings detailed table WebLink://Click here for story:/id=17651 - 01-08-2011/go Switching Technologies Gunther Apr-Jun earnings detailed table WebLink://Click here for story:/id=17645 - 01-08-2011/go Rap Media Apr-Jun earnings detailed table WebLink://Click here for story:/id=17638 - 01-08-2011/go Solitaire Machine Tools Apr-Jun earnings detailed table WebLink://Click here for story:/id=17635 - 01-08-2011/go Mefcom Capital Markets Apr-Jun earnings detailed table WebLink://Click here for story:/id=17618 - 01-08-2011/go Triveni Engineering & Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17616 - 01-08-2011/go Venlon Enterprises Apr-Jun earnings detailed table WebLink://Click here for story:/id=17603 - 01-08-2011/go Riddhi Siddhi Gluco Biols Apr-Jun earnings detailed table WebLink://Click here for story:/id=17590 - 01-08-2011/go Sterling Greenwoods Apr-Jun earnings detailed table WebLink://Click here for story:/id=17581 - 01-08-2011/go Magna Electro Castings Apr-Jun earnings detailed table WebLink://Click here for story:/id=17576 - 01-08-2011/go Zenith Fibres Apr-Jun earnings detailed table WebLink://Click here for story:/id=17573 - 01-08-2011/go Ruttonsha International Rectifier Apr-Jun earnings detailed table WebLink://Click here for story:/id=17571 - 01-08-2011/go Shimoga Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=17566 - 01-08-2011/go Vishnu Chemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=17562 - 01-08-2011/go Kitex Garments Apr-Jun earnings detailed table WebLink://Click here for story:/id=17545 - 01-08-2011/go Rishi Laser Apr-Jun earnings detailed table WebLink://Click here for story:/id=17535 - 01-08-2011/go Good Luck Steel Tubes Apr-Jun earnings detailed table WebLink://Click here for story:/id=17521 - 01-08-2011/go Prithvi Softech Apr-Jun earnings detailed table WebLink://Click here for story:/id=17520 - 01-08-2011/go Facor Alloys Apr-Jun earnings detailed table WebLink://Click here for story:/id=17516 - 01-08-2011/go Virtualsoft Systems Apr-Jun earnings detailed table WebLink://Click here for story:/id=17493 - 01-08-2011/go Prime Property development corp Apr-Jun earnings detailed table WebLink://Click here for story:/id=17488 - 01-08-2011/go BLS Infotech Apr-Jun earnings detailed table WebLink://Click here for story:/id=17486 - 01-08-2011/go Tilaknagar Industries Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=17415 - 01-08-2011/go Nath Seeds Apr-Jun earnings detailed table
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WebLink://Click here for story:/id=17414 - 01-08-2011/go Cambridge Solutions Apr-Jun earnings detailed table WebLink://Click here for story:/id=17366 - 01-08-2011/go Vijay Shanthi Builders Apr-Jun earnings detailed table WebLink://Click here for story:/id=17326 - 01-08-2011/go Jamna Auto Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17286 - 01-08-2011/go Thirumalai Chemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=17252 - 01-08-2011/go Aravali Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17130 - 01-08-2011/go Dhanus Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=17043 - 01-08-2011/go Tube Investments of India Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=16982 - 01-08-2011/go Grand Foundry Apr-Jun earnings detailed table WebLink://Click here for story:/id=16941 - 01-08-2011/go Birla Ericsson Optical Apr-Jun earnings detailed table WebLink://Click here for story:/id=16934 - 01-08-2011/go GSK Consumer Healthcare Apr-Jun earnings detailed table WebLink://Click here for story:/id=16854 - 01-08-2011/go NW18:Shree Ganesh Jewellery House Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=16486 - 01-08-2011/go Havells India Apr-Jun earnings detailed table WebLink://Click here for story:/id=16386 - 01-08-2011/go Axis-IT&T Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=16204 - 01-08-2011/go Archies Apr-Jun earnings detailed table WebLink://Click here for story:/id=16175 - 01-08-2011/go Shree Cement Apr-Jun earnings detailed table WebLink://Click here for story:/id=15756 - 01-08-2011/go Tulsi Extrusions Apr-Jun earnings detailed table WebLink://Click here for story:/id=15558 - 01-08-2011/go Atlas Cycles (Haryana) Apr-Jun earnings detailed table WebLink://Click here for story:/id=15380 - 01-08-2011/go Indraprastha Gas Apr-Jun earnings detailed table WebLink://Click here for story:/id=15379 - 01-08-2011/go Grabal Alok Impex Apr-Jun earnings detailed table WebLink://Click here for story:/id=15297 - 01-08-2011/go Relaxo Footwears Apr-Jun earnings detailed table WebLink://Click here for story:/id=15256 - 01-08-2011/go Hotel Rugby Apr-Jun earnings detailed table WebLink://Click here for story:/id=14874 - 01-08-2011/go Pfizer Apr-Jun earnings detailed table WebLink://Click here for story:/id=14804 - 01-08-2011/go Sun TV Network Apr-Jun earnings detailed table WebLink://Click here for story:/id=14420 - 01-08-2011/go Vindhya Telelinks Apr-Jun earnings detailed table WebLink://Click here for story:/id=14419 - 01-08-2011/go Sambhaav Media Apr-Jun earnings detailed table WebLink://Click here for story:/id=14383 - 01-08-2011/go Force Motors Apr-Jun earnings detailed table WebLink://Click here for story:/id=13650 - 01-08-2011/go Ramkrishna Forgings Apr-Jun earnings detailed table WebLink://Click here for story:/id=13616 - 01-08-2011/go Murudeshwar Ceramics Apr-Jun earnings detailed table WebLink://Click here for story:/id=13322 - 01-08-2011/go JMT Auto Apr-Jun earnings detailed table WebLink://Click here for story:/id=13303 - 01-08-2011/go Phoenix Mills Apr-Jun earnings detailed table WebLink://Click here for story:/id=13295 - 01-08-2011/go
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Sarda Energy & Minerals Apr-Jun earnings detailed table WebLink://Click here for story:/id=13168 - 01-08-2011/go Savita Oil Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=13117 - 01-08-2011/go Ashima Apr-Jun earnings detailed table WebLink://Click here for story:/id=13029 - 01-08-2011/go Nahar Poly Films Apr-Jun earnings detailed table WebLink://Click here for story:/id=13000 - 01-08-2011/go Madras Fertilizers Apr-Jun earnings detailed table WebLink://Click here for story:/id=12986 - 01-08-2011/go La Opala RG Apr-Jun earnings detailed table WebLink://Click here for story:/id=12962 - 01-08-2011/go Orient Abrasives Apr-Jun earnings detailed table WebLink://Click here for story:/id=12910 - 01-08-2011/go PAE Ltd Apr-Jun earnings detailed table WebLink://Click here for story:/id=12882 - 01-08-2011/go Paras Petrofils Apr-Jun earnings detailed table WebLink://Click here for story:/id=12848 - 01-08-2011/go Nahar Capital & Financial Services Apr-Jun earnings detailed table WebLink://Click here for story:/id=12721 - 01-08-2011/go Kothari Petrochemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=12362 - 01-08-2011/go R Systems International Apr-Jun earnings detailed table WebLink://Click here for story:/id=12287 - 01-08-2011/go Hitech Plast Apr-Jun earnings detailed table WebLink://Click here for story:/id=11988 - 01-08-2011/go Alkali Metals Apr-Jun earnings detailed table WebLink://Click here for story:/id=11965 - 01-08-2011/go Eurotex Industries and Exports Ltd Apr-Jun earnings detailed table WebLink://Click here for story:/id=11915 - 01-08-2011/go Torrent Pharmaceuticals Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=11657 - 01-08-2011/go NW18:Core Projects & Technologies Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=11288 - 01-08-2011/go KEC International Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=11151 - 01-08-2011/go Indraprastha Medical Corp Apr-Jun earnings detailed table WebLink://Click here for story:/id=10429 - 01-08-2011/go Nestle India Apr-Jun earnings detailed table WebLink://Click here for story:/id=10283 - 01-08-2011/go Suzlon Energy Apr-Jun earnings detailed table WebLink://Click here for story:/id=10254 - 01-08-2011/go Karnataka Bank Apr-Jun earnings detailed table WebLink://Click here for story:/id=10221 - 01-08-2011/go . . STOCK MARKET ----------------------------------------------------------------------------. Stocks To Watch: SAIL; Siemens; Suzlon; steel and mining cos WebLink://Click here for story:/id=10199 - 01-08-2011/go . India Stocks Outlook: To eye global cues Tue; Nifty 5480-5600 band Domestic equities are likely to take cues from global markets on Tuesday as investors will closely monitor the result of a key US Congressional vote today on a debt-deal to raise the nation's $14.3 trln ceiling, which was announced by President Barack Obama late on Sunday. WebLink://Click here for story:/id=17454 - 01-08-2011/go .
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India Stocks Outlook: Seen rising 1% as US debt deal clinched Share indices are seen gaining around 1% at open as US President Barack Obama, ending the precarious stalemate, said late Sunday that Republican and Democrat Congressional leaders have reached a deal to raise the nation's debt limit. WebLink://Click here for story:/id=10262 - 01-08-2011/go . India Stocks: Up 1% as investors cheer US debt deal; metal cos fall Share indices rose 1% as investors heaved a sigh of relief after US President Barack Obama late Sunday said Republican and Democrat leaders have reached an agreement to raise the country's $14.3 trln debt limit, dealers said. WebLink://Click here for story:/id=12863 - 01-08-2011/go . India Stocks Review: End off highs on profit sales; ONGC up 1.5% The indices ended off highs as investors booked profits ahead of the crucial vote in the US House of Representatives and the Senate on the White House-backed debt deal. WebLink://Click here for story:/id=17119 - 01-08-2011/go . . NSE's top 10 stock futures by number of deals on Aug 1 WebLink://Click here for story:/id=17955 - 01-08-2011/go DATA ALERT: FIIs net buy 566 mln rupees index futures Aug 1 WebLink://Click here for story:/id=17763 - 01-08-2011/go NSE Turnover Watch: Mon traded shares volume down 21.73% vs Fri WebLink://Click here for story:/id=17744 - 01-08-2011/go Table of block deals, bulk deals on NSE - Aug 1 WebLink://Click here for story:/id=17601 - 01-08-2011/go NSE sector indices, ratios as on Aug 1 WebLink://Click here for story:/id=17546 - 01-08-2011/go Table of block deals, bulk deals on BSE - Aug 1 WebLink://Click here for story:/id=17540 - 01-08-2011/go BSE Turnover Watch: Mon traded shares volume up 5.82% vs Fri WebLink://Click here for story:/id=17537 - 01-08-2011/go DATA ALERT: FIIs provisional net buy 868.3 mln rupees shares on Mon WebLink://Click here for story:/id=17517 - 01-08-2011/go Order Wins: Details of orders announced by L&T since Apr 2010 WebLink://Click here for story:/id=17514 - 01-08-2011/go DATA ALERT: Local funds net buy 1.083 bln rupees of shares Jul 29 WebLink://Click here for story:/id=17492 - 01-08-2011/go Security-wise delivery positions detailed by BSE for Aug 1-Part 3 WebLink://Click here for story:/id=17456 - 01-08-2011/go Security-wise delivery positions detailed by BSE for Aug 1-Part 2 WebLink://Click here for story:/id=17450 - 01-08-2011/go Security-wise delivery positions detailed by BSE for Aug 1-Part 1 WebLink://Click here for story:/id=17446 - 01-08-2011/go Security-wise delivery positions detailed by NSE for Aug 1-Part 1 WebLink://Click here for story:/id=17386 - 01-08-2011/go Security-wise delivery positions detailed by NSE for Aug 1-Part 2 WebLink://Click here for story:/id=17387 - 01-08-2011/go India Data Watch: Tracking key economic and market numbers WebLink://Click here for story:/id=14555 - 01-08-2011/go Global M&As: Macarthur Coal; First Niagra; CNOOC; Southern Union WebLink://Click here for story:/id=17080 - 01-08-2011/go India M&As: MphasiS; Residency Projects; Cox & Kings; Cadila WebLink://Click here for story:/id=17077 - 01-08-2011/go BSE sector indices, ratios as on Aug 1
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WebLink://Click here for story:/id=17063 - 01-08-2011/go Top gainers in major NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16992 - 01-08-2011/go Top losers in major NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16994 - 01-08-2011/go Top volume grossers in main NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16995 - 01-08-2011/go Main Asian share indices at 1530 IST WebLink://Click here for story:/id=16848 - 01-08-2011/go Data Watch: RBI's reference rate for leading currencies WebLink://Click here for story:/id=14546 - 01-08-2011/go DATA ALERT: Skindia's ADR/GDR index for Indian companies - Jul 29 WebLink://Click here for story:/id=13360 - 01-08-2011/go Support, resistance levels for select shares today WebLink://Click here for story:/id=10139 - 01-08-2011/go . . IPO ---. IPO Alert: L&T Fin Holdings sets issue price at 52 rupees/share L&T Finance Holdings Ltd, a subsidiary of engineering major Larsen & Toubro Ltd, has priced its initial public offering of shares at 52 rupees per share. At 52 rupees a share, L&T Finance will issue shares at a price-to-earnings multiple of nearly 23 times its 2010-11 (Apr-Mar) earnings. WebLink://Click here for story:/id=10350 - 01-08-2011/go . India IPO Watch: Issues announced, likely in future WebLink://Click here for story:/id=17094 - 01-08-2011/go . India IPO Watch: Issues currently open, recently closed WebLink://Click here for story:/id=17087 - 01-08-2011/go . . RATING -----. TEXT: Kasturi Commodities' cash credit gets CRISIL BB/Stable WebLink://Click here for story:/id=17933 - 01-08-2011/go TEXT:CRISIL affirms rtg on Venkata Krishna Constructions' term loan WebLink://Click here for story:/id=17931 - 01-08-2011/go TEXT: Woodhill Infrastructure's cash credit gets CRISIL BBB/Stable WebLink://Click here for story:/id=17929 - 01-08-2011/go TEXT:CRISIL affirms BB/Stable on Sree Sumangala Metals' cash credit WebLink://Click here for story:/id=17928 - 01-08-2011/go TEXT: Sri Subramanya Sponge Iron's long-term loan gets CRISIL D WebLink://Click here for story:/id=17926 - 01-08-2011/go TEXT: CRISIL affirms rtg on Super Construction Co's cash credit WebLink://Click here for story:/id=17925 - 01-08-2011/go TEXT: Talwar Auto Garages' cash credit gets CRISIL BB/Stable WebLink://Click here for story:/id=17923 - 01-08-2011/go TEXT:CRISIL affirms rtg on Abraham Memorial Educational's term loan WebLink://Click here for story:/id=17922 - 01-08-2011/go TEXT: CRISIL affirms A1+ on Religare Securities' short-term debt WebLink://Click here for story:/id=17918 - 01-08-2011/go TEXT: CRISIL affirms B+/Stable on Rolex Cycles' cash credit limit WebLink://Click here for story:/id=17913 - 01-08-2011/go TEXT: CRISIL affirms rtg on Sachdeva Steel Products' cash credit WebLink://Click here for story:/id=17911 - 01-08-2011/go
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TEXT: Shahwar Motives' cash credit gets CRISIL B+/Stable WebLink://Click here for story:/id=17910 - 01-08-2011/go TEXT: Shree Malani Foams' term loan gets CRISIL BB/Stable WebLink://Click here for story:/id=17909 - 01-08-2011/go TEXT: MRG Auto's cash credit gets CRISIL B/Stable WebLink://Click here for story:/id=17908 - 01-08-2011/go TEXT: CRISIL A1+ on Netafim Irrigation's letter of credit WebLink://Click here for story:/id=17907 - 01-08-2011/go TEXT: PJ Margo's cash credit gets CRISIL BBB/Stable WebLink://Click here for story:/id=17905 - 01-08-2011/go TEXT: Phoenix Overseas' long-term loan gets CRISIL BBB/Stable WebLink://Click here for story:/id=17902 - 01-08-2011/go TEXT: CRISIL BB/Stable on Rajparis Civil Constructions' cash credit WebLink://Click here for story:/id=17901 - 01-08-2011/go TEXT: CRISIL affirms BB/Stable on Makalu Trading' cash credit WebLink://Click here for story:/id=17899 - 01-08-2011/go TEXT: Malda Metal's cash credit gets CRISIL D WebLink://Click here for story:/id=17898 - 01-08-2011/go TEXT: Mansa Devi Rice Mills' cash credit gets CRISIL B/Stable WebLink://Click here for story:/id=17896 - 01-08-2011/go TEXT: Microscan Computers' term loan gets CRISIL BB/Stable WebLink://Click here for story:/id=17894 - 01-08-2011/go TEXT: CRISIL affirms A1+ on Motilal Oswal Services' bank guarantees WebLink://Click here for story:/id=17893 - 01-08-2011/go TEXT: CRISIL affirms rtg on Jai Jagdish Ship Breakers' cash credit WebLink://Click here for story:/id=17891 - 01-08-2011/go TEXT: CRISIL affirms BBB/Stable on Jharkhand Ispat's cash credit WebLink://Click here for story:/id=17890 - 01-08-2011/go TEXT: Leonids Electronic Retail's cash credit gets CRISIL B+/Stable WebLink://Click here for story:/id=17888 - 01-08-2011/go TEXT: Mack Spring Industries' long-term loan gets CRISIL BB/Stable WebLink://Click here for story:/id=17887 - 01-08-2011/go TEXT: Mack Springs' cash credit gets CRISIL BB/Stable WebLink://Click here for story:/id=17886 - 01-08-2011/go TEXT: ICRA affirms BB+/ Stable on Vardhman Polytex's term loans WebLink://Click here for story:/id=17875 - 01-08-2011/go TEXT: ICRA affirms BBB on Windals Precision's enhanced term loans WebLink://Click here for story:/id=17872 - 01-08-2011/go TEXT: Shine Pettro Chem & Resins India's term loans get ICRA BBWebLink://Click here for story:/id=17869 - 01-08-2011/go TEXT: Sukhwani Chawla Erectors' bank lines gets ICRA BBWebLink://Click here for story:/id=17867 - 01-08-2011/go TEXT:ICRA affirms AA+ on TV Sundram Iyengar's fund based facilities WebLink://Click here for story:/id=17865 - 01-08-2011/go TEXT: Tata Sons' NCD programme gets ICRA AAA(stable) WebLink://Click here for story:/id=17863 - 01-08-2011/go TEXT: Mithra Agencies' term loan gets ICRA BB+ WebLink://Click here for story:/id=17862 - 01-08-2011/go TEXT: Marine Engineers' fund based limits get ICRA BBBWebLink://Click here for story:/id=17858 - 01-08-2011/go TEXT: Masina Alloys' long-term fund based facilities get ICRA BB WebLink://Click here for story:/id=17856 - 01-08-2011/go TEXT: ICRA affirms BB- on Nextgen Printers' term loan WebLink://Click here for story:/id=17854 - 01-08-2011/go TEXT: Ram Kripal Singh Constructions' cash credit gets ICRA BB+ WebLink://Click here for story:/id=17851 - 01-08-2011/go TEXT: Rishabh Gold Jewels India's fund based limits get ICRA BB WebLink://Click here for story:/id=17846 - 01-08-2011/go TEXT: Kanunga Extrusion's fund based limits get ICRA BB(Stable) WebLink://Click here for story:/id=17834 - 01-08-2011/go TEXT: Kamal International's term loans get ICRA B
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WebLink://Click here for story:/id=17833 - 01-08-2011/go TEXT: Malabar Food Stuff's term loans gets ICRA B WebLink://Click here for story:/id=17832 - 01-08-2011/go TEXT:ICRA puts BRG Iron & Steel's term loan on developing rtg watch WebLink://Click here for story:/id=17814 - 01-08-2011/go TEXT: D Navinchandra Jewels' bank facilities gets ICRA BBBWebLink://Click here for story:/id=17812 - 01-08-2011/go TEXT: Deccan Healthcare's term loans get ICRA BBB-/Stable WebLink://Click here for story:/id=17811 - 01-08-2011/go TEXT: ICRA affirms BBB on Genus Electrotech's reduced term loans WebLink://Click here for story:/id=17810 - 01-08-2011/go TEXT: GRN Constructions' fund based limits get ICRA BB+(Stable) WebLink://Click here for story:/id=17809 - 01-08-2011/go TEXT: Billroth Hospitals' term loans get ICRA BBB(Stable) WebLink://Click here for story:/id=17806 - 01-08-2011/go TEXT: MRA Metal's 25-mln-rupee term loans get ICRA B WebLink://Click here for story:/id=17804 - 01-08-2011/go TEXT: Agarwalla Timbers' term loan gets ICRA LBB WebLink://Click here for story:/id=17802 - 01-08-2011/go TEXT: ICRA affirms A(Stable) on Archies' fund based limits WebLink://Click here for story:/id=17801 - 01-08-2011/go TEXT: ICRA B+ on Bharat Industrial Corp long term fund based limits WebLink://Click here for story:/id=17800 - 01-08-2011/go TEXT: CRISIL affirms B+/Stable on Chameli Flour Mills' term loan WebLink://Click here for story:/id=17798 - 01-08-2011/go TEXT: CRISIL affirms D on Elico's cash credit WebLink://Click here for story:/id=17796 - 01-08-2011/go TEXT: Epson Vitrified's cash credit gets CRISIL B/Stable WebLink://Click here for story:/id=17792 - 01-08-2011/go TEXT: Hanuman Texnit and Ind's cash credit gets CRISIL B-/Stable WebLink://Click here for story:/id=17789 - 01-08-2011/go TEXT: Indus Marine's 57-mln-rupee term loan gets CRISIL D WebLink://Click here for story:/id=17787 - 01-08-2011/go TEXT: Arpit International's cash credit gets CRISIL B+/Stable WebLink://Click here for story:/id=17785 - 01-08-2011/go TEXT: Autoline's long-term loan gets CRISIL B/Stable WebLink://Click here for story:/id=17782 - 01-08-2011/go TEXT: Avenue Supermart's cash credit gets CRISIL A+/Stable WebLink://Click here for story:/id=17780 - 01-08-2011/go TEXT: British Super Alloys' term loan gets CRISIL BBB-/Stable WebLink://Click here for story:/id=17778 - 01-08-2011/go TEXT: CK Industries' cash credit gets CRISIL B+/Stable WebLink://Click here for story:/id=17777 - 01-08-2011/go TEXT: Ace Brain Systems and Software's bk guarantee gets CRISIL A4 WebLink://Click here for story:/id=17775 - 01-08-2011/go TEXT: Loxim Industries' cash credit gets CRISIL BB/Stable WebLink://Click here for story:/id=17772 - 01-08-2011/go TEXT: Panna Lal Tarak Shaw's cash credit gets CRISIL C WebLink://Click here for story:/id=17769 - 01-08-2011/go TEXT: CRISIL affirms BBB/Stable on Aloke Steels Ind's cash credit WebLink://Click here for story:/id=17768 - 01-08-2011/go TEXT: CRISIL affirms D on Anjani Technoplast's cash credit facility WebLink://Click here for story:/id=17767 - 01-08-2011/go TEXT: ICRA ups rtg on Oswal F M Hammerle Textiles' term loan WebLink://Click here for story:/id=16533 - 01-08-2011/go TEXT: ICRA ups rtg on Jaina Mobile India's fund based facilities WebLink://Click here for story:/id=16515 - 01-08-2011/go NW18:TEXT: ICRA ups rtg on Durha Constructions' fund-based limit to BBB+ WebLink://Click here for story:/id=15144 - 01-08-2011/go TEXT: ICRA cuts rtg on KM Sugar Mills' term loans to D WebLink://Click here for story:/id=15138 - 01-08-2011/go
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TEXT: ICRA ups rtg on Rana Papers' fund-based limits to B+ WebLink://Click here for story:/id=15119 - 01-08-2011/go TEXT: ICRA ups rtg on Trivista Steels & Powers' fund based limits WebLink://Click here for story:/id=15006 - 01-08-2011/go TEXT: ICRA cuts rtg on AS Cargo Movers' term loans to C+ WebLink://Click here for story:/id=14967 - 01-08-2011/go TEXT: CRISIL ups rtg on Jagran Prakashan' term loan to AA+/Stable WebLink://Click here for story:/id=14432 - 01-08-2011/go . . EQUITY ALERTS ----------------------------------------------------------------------------. Domestic indices to track global markets Tue Indices end off highs on profit booking Indraprastha Gas up 1%; Apr-Jun net profit rises 40% Asian indices end up on US debt deal; exporters rise Europe indices up 1% as US lawmakers reach debt deal Maruti Suzuki down as Jul total sales fall 25% on yr Nestle India down 1.3% as Apr-Jun PAT misses estimate Eicher Motors up 3.6% as Apr-Jun consol PAT grows 38% JSW Steel dn on SC iron ore ban; Citi cuts rtg, target Sadbhav Engineering up as Apr-Jun PAT rises 32% on yr TVS Motor Co jumps 7% on robust Apr-Jun earnings Godfrey Phillips hits 52-wk high; Apr-Jun PAT up 175% Indices up 1% on US debt deal; SAIL dn 3% on results Suzlon Energy seen up as co posts profit in Apr-Jun SAIL seen down 2-3% as Apr-Jun PAT sharply below view Indices seen up on US debt deal; SAIL down on results SGX CNX Nifty Aug up; Asian mkts rise on US debt dealSiemens seen down 1% as Apr-Jun earnings disappoint Rupee seen up after US lawmakers agree on debt deal FIIs net sell index futures worth 9.04 bln rupees Fri Most Indian ADRs end up Fri; Sify soars 21% Key Asian indices surge as US debt deal clinched US indices end down Fri as debt stalemate stretches . . REGULAR STORIES ----------------------------------------------------------------------------. Monsoon Watch: Daily guide to progress of rains in India WebLink://Click here for story:/id=18176 - 01-08-2011/go India Data Watch: Tracking key economic and market numbers WebLink://Click here for story:/id=17636 - 01-08-2011/go Fund Indices: CRISIL indices for mutual funds - Jul 29 WebLink://Click here for story:/id=14408 - 01-08-2011/go DATA ALERT: Foreign funds net sell $140.17 mln of Indian shr Jul 29 WebLink://Click here for story:/id=17171 - 01-08-2011/go Pledged Shares Monitor: Disclosures by companies as on Aug 1 WebLink://Click here for story:/id=17563 - 01-08-2011/go CLOSING BELL - Indian Financial Markets At A Glance WebLink://Click here for story:/id=17359 - 01-08-2011/go DATA ALERT: Corporate bond deals reported on NSE - 1800 IST WebLink://Click here for story:/id=17490 - 01-08-2011/go DATA ALERT: Corporate bond deals reported on Aug 1 WebLink://Click here for story:/id=17670 - 01-08-2011/go Dollar/Rupee Reference Rate - 44.0500 on Aug 1 WebLink://Click here for story:/id=14085 - 01-08-2011/go
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ADR Tracker: Sify, ICICI Bank, Tata Comm rise; Satyam, Wipro fall WebLink://Click here for story:/id=10131 - 01-08-2011/go Good Morning India - What's Happening, and Where, on Jul 1 WebLink://Click here for story:/id=10112 - 01-08-2011/go . . CALENDARS --------. Calendar: Company AGMs and EGMs WebLink://Click here for story:/id=10431 - 01-08-2011/go Calendar: Company board meetings WebLink://Click here for story:/id=10427 - 01-08-2011/go BSE Corporate Action Watch: Ex-date for shares listed on BSE WebLink://Click here for story:/id=10278 - 01-08-2011/go NSE Corporate Action Watch: Book-closure, ex-dates, record dates WebLink://Click here for story:/id=10273 - 01-08-2011/go . . Political Briefs: Monsoon session; Lokpal debate; Stalin; ISI chief WebLink://Click here for story:/id=17206 - 01-08-2011/go . World Markets At A Glance: Asian equities up; oil falls nearly 2% Asian shares rose today with Japan's Nikkei topping the 10000 mark as traders stacked up holdings on optimism US lawmakers will pass the deal to raise the country's debt ceiling. WebLink://Click here for story:/id=10205 - 01-08-2011/go . . PRESS ----. India Press Summary: Iran crude; IRDA; M&M car; fertiliser subsidy WebLink://Click here for story:/id=10218 - 01-08-2011/go . PRESS: GVK Power may finalise Hancock coal mines' buy in two mos GVK Power and Infrastructure may finalise a deal to buy two coal mines operated by Australia's Hancock Prospecting in two months, according to a report by Press Trust of India quoting GVK Group Chairman G.V.K. Reddy. WebLink://Click here for story:/id=10243 - 01-08-2011/go . PRESS: Neyveli Lignite seeks 3 de-allocated coal blocks of NTPC Neyveli Lignite has asked the government to allocate three coal blocks in Jharkhand that were recently taken back from NTPC Ltd, according to a report in The Economic Times. WebLink://Click here for story:/id=10256 - 01-08-2011/go . . End . IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT . Compiled by Nilima Dabhade . NewsWire18 Tel +91 (22) 6637-8700 Send comments to feedback@newswire18.com
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Document NWMONI0020110802e7820000o
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NW18: Summary of Stories on NW18 EquityWire - 1800 IST 5,806 words 1 August 2011 NewsWire18 - EquityWire NWIRIN English Copyright 2011. NewsWire18 Ltd. NewsWire18, Monday, Aug 1 . MUMBAI - Following is a summary of stories that ran on NW18 EquityWire today until 1800 IST: . (NW18's Web subscribers can click on the hyperlink to the story) . . TOP STORIES ----------. Maruti Suzuki Jul sales dn 25% as co halts production of old Swift If labour unrest had hit June sales of Maruti Suzuki India Ltd, the company reported lower July sales as it stopped making the old model of Swift car and shifted sedan Dzire's production to its Gurgaon unit from Manesar. The country's largest carmaker today said its July total sales were down 25.3% on year at 75,300 units. It sold 80,298 vehicles in June, down 9% on year. WebLink://Click here for story:/id=14062 - 01-08-2011/go . PM advisory panel cuts FY12 GDP growth forecast to 8.2% from 9.0% The Prime Minister's Economic Advisory Council today sharply cut the gross domestic product growth forecast for 2011-12 (Apr-Mar) to 8.2% from 9.0% projected in February. The Indian economy had grown at 8.5% in 2010-11. WebLink://Click here for story:/id=15638 - 01-08-2011/go . Source says fin min exploring ways for ONGC off-mkt deal vs FPO The finance ministry is mulling off-market deals for divestment in Oil and Natural Gas Corp Ltd if the company's proposed follow-on public issue fails to take off due to poor market conditions, a senior government official said today. WebLink://Click here for story:/id=16922 - 01-08-2011/go . . OTHER STORIES ----------------------------------------------------------------------------. INTERVIEW: Head says Infosys BPO revenue may top $500-mln mark FY12 Infosys BPO Ltd is trying a different stroke to drive its growth in the
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current financial year. The business process outsourcing vertical of Infosys Ltd is leveraging its parent's "power of technology" to support its offerings. WebLink://Click here for story:/id=14782 - 01-08-2011/go . PSU oil cos' daily revenue loss now seen up 4.7% from Jul 2nd half State-owned oil marketing companies' total daily revenue loss on subsidised fuel sale is seen at 2.46 bln rupees in the current fortnight, up 4.7% from the latter half of July due to higher global prices of crude oil, official data showed today. WebLink://Click here for story:/id=14447 - 01-08-2011/go . Tata Motors vehicle sales in July 63,761 units, down 6% on year Tata Motors Ltd's sales volumes in July declined 6% from a year ago to 63,761 vehicles as sale of its passenger vehicles fell a sharp 39% to 18,294 units in the month, the company said in a release today. In June, the company had sold 66,358 vehicles. WebLink://Click here for story:/id=16409 - 01-08-2011/go . M&M total sales, excluding tractors, in July 39,633 units, up 41% Mahindra & Mahindra Ltd's total sales, excluding tractors, in July rose 41% on year, and 11.5% on month to 39,663 units, the company said today. In June the company had sold 35,584 units. WebLink://Click here for story:/id=15635 - 01-08-2011/go . Tata Power, Lanco among bidders for Odisha ultra mega project The government's flagging ultra mega power generation project today got the much-needed shot in the arm. WebLink://Click here for story:/id=15321 - 01-08-2011/go . ACC Jul cement despatches up 28% on year, production rises 31% ACC Ltd despatched 2.00 mln tn cement in July, 28% higher than 1.56 mln tn a year ago, a company release today said. The company produced 2.03 tn cement in the month, 31% more than 1.55 mln tn last year. WebLink://Click here for story:/id=16951 - 01-08-2011/go . Mercator Lines, Milestone shelve plan for dry bulk-focused PE fund With the global shipping market battling rough weather, India's second largest private sector shipping firm Mercator Lines Ltd has shelved plans to launch a private equity fund focussed on dry bulk shipping vessels. WebLink://Click here for story:/id=15524 - 01-08-2011/go . IOC Apr-Jun gross revenue loss likely 238 bln rupee, up 116% on yr State-owned Indian Oil Corp Ltd is likely to have incurred a gross revenue loss of 238 bln rupees during the June quarter on subsidised fuel sales, up 116% from the corresponding period a year ago, a company source told NewsWire18. WebLink://Click here for story:/id=15268 - 01-08-2011/go . Star Alliance puts Air India's membership application on hold Star Alliance, a consortium of 27 airlines, has put on hold Air India's application for membership into the global network, as the state-owned carrier did not meet the minimum joining conditions. Star Alliance members include Lufthansa, Air Canada, Singapore Airlines,Thai Airways, and Swiss. The network has a fleet of more than 4,000 aircraft flying to 181
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countries. WebLink://Click here for story:/id=12858 - 01-08-2011/go . Maruti Suzuki moves Dzire production to Gurgaon from Manesar Maruti Suzuki India Ltd has shifted the production of its entry-level sedan Dzire to Gurgaon from Manesar in order to focus on producing more numbers of the new Swift hatchback model at the latter. WebLink://Click here for story:/id=13453 - 01-08-2011/go . INTERVIEW: Sucden sees India 2011-12 sugar exports at 2-3 mln tn India could export about 2-3 mln tn sugar in the next season starting October on the back of higher production, Sucden India Managing Director Yatin Wadhwana said. WebLink://Click here for story:/id=16772 - 01-08-2011/go . INTERVIEW: Radio Mirchi parent co gung-ho on bandwidth auctions Ahead of the third phase of auction of frequencies for operating more FM radio channels in the country, Prashant Panday, the chief executive officer of Entertainment Network (India) Ltd, is busy strategising to bag a sizeable chunk of new licences and amplify its leadership bandwidth. WebLink://Click here for story:/id=17099 - 01-08-2011/go . INTERVIEW: Aurobindo sees $40 mln FY12 revenue loss on US FDA alert An import alert followed by a warning from the US Food and Drug Administration will hit Aurobindo Pharma Ltd's revenue growth in the current financial year that began Apr 1. The company's head expects revenue losses to the tune of $40 mln in 2011-12 (Apr-Mar) due to the actions taken by the US drug regulator. WebLink://Click here for story:/id=17007 - 01-08-2011/go . Gujarat govt seeks bids for two 2.5 MW photovoltaic solar projects The Gujarat government has invited bids for developing two rooftop grid connected solar photovoltaic power projects of 2.5 MW capacity each in Gandhinagar, according to an advertisement in various newspapers. WebLink://Click here for story:/id=10312 - 01-08-2011/go . State-run oil cos up jet fuel prices by average 1,584 rupees/kL State-owned oil marketing companies today raised prices of aviation turbine fuel by an average 1,583.87 rupees a kL in the four metros with effect from midnight, data published by state-owned Indian Oil Corp Ltd showed. WebLink://Click here for story:/id=10428 - 01-08-2011/go . TVS Motor Jul total sales up 14% on year; motorcycles up 15% TVS Motor Co Ltd sold 186,672 two-wheelers in July, up 14% from the same month a year ago, the company said in a statement today. While motorcycle sales during the month grew 15% on year, scooter sales rose 22%. WebLink://Click here for story:/id=13069 - 01-08-2011/go . Sterlite Energy, Jindal arm among bidders for 48% in BHEL project Three private sector companies have bid for a 48% stake in a 1,600-MW power generation project being promoted by Bharat Heavy Electricals Ltd and Madhya Pradesh Power Generating Co Ltd in the state, a senior official in the joint venture company told NewsWire18 today.
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WebLink://Click here for story:/id=12797 - 01-08-2011/go . Highlights of PM econ panel head Rangarajan's comments WebLink://Click here for story:/id=14294 - 01-08-2011/go . Indian Bank in tie-up with SBI Mutual Fund to sell MF products Indian Bank has entered into an agreement with SBI Mutual Fund to sell mutual fund products, the bank said in a notice to the Bombay Stock Exchange today. Indian Bank has similar agreements with Reliance Mutual Fund and UTI Mutual Fund. WebLink://Click here for story:/id=14225 - 01-08-2011/go . India's crude oil basket price dn $1.35 at $112.66 per barrel Fri The price of India's crude oil basket was at $112.66 a barrel Friday, down $1.35 from a day earlier, petroleum ministry data showed today. India's oil basket comprises Oman-Dubai sour grade and dated Brent sweet crude in a 67.6:32.4 ratio. WebLink://Click here for story:/id=14173 - 01-08-2011/go . India Jul HSBC manufacturing PMI slips to 20-month-low of 53.6 HSBC manufacturing Purchasing Managers' Index for India fell to a 20-month-low of 53.6 in July from 55.3 in the previous month. "The momentum in the manufacturing sector eased further in July as sequential growth in output and new orders slowed, although employment picked up," HSBC Chief Economist for India and ASEAN Leif Eskesen said. WebLink://Click here for story:/id=14058 - 01-08-2011/go . Rural Electrification plans to raise up to $1 bln via FCCB FY12 State-owned lender to the power sector Rural Electrification Corp Ltd, plans to raise up to $1 bln via foreign currency convertible bonds in the current financial year started April, a top official of the company told NewsWire18 today. WebLink://Click here for story:/id=13655 - 01-08-2011/go . Adani Enterprises clarifies on illegal ore mining in Karnataka Adani Enterprises Ltd has no link with illegal iron ore mining in Karnataka as alleged in the report by the Karnataka Lokayukta, Adani group's Chief Financial Officer Devang Desai said. WebLink://Click here for story:/id=13239 - 01-08-2011/go . Suzlon Energy returns to profit, posts 601.2 mln rupees PAT Apr-Jun Suzlon Energy Ltd has surprised the market by swinging into profit during Apr-Jun, led by strong sales that swelled 80% over the corresponding quarter last year. WebLink://Click here for story:/id=12663 - 01-08-2011/go . Four Soft arm to offer logistic solutions to UK's House of Freight Four Soft Ltd's has bagged an order to provide logistics solutions to UK-based House of Freights, the Indian company said in a release today. The company did not detail the financials of the contract, which will be executed by its wholly-owned UK arm. WebLink://Click here for story:/id=15457 - 01-08-2011/go . Karnataka iron ore mine survey yet to start in Chitradurga, Tumkur The survey of Karnataka's iron ore mines is in progress in the
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Bellary-Hospet region and is yet to begin in the Chitradurga and Tumkur districts, a government official told NewsWire18 today. WebLink://Click here for story:/id=15141 - 01-08-2011/go . Essar Energy completes acquisition of Shell's Stanlow refinery Essar Energy Plc has completed the $350-mln acquisition of Shell UK Ltd's refinery and some related local marketing businesses at Stanlow in Cheshire, the company said in a release today. WebLink://Click here for story:/id=14855 - 01-08-2011/go . Highlights of PM econ panel head Rangarajan's comments WebLink://Click here for story:/id=14783 - 01-08-2011/go . Suzlon Energy OKs raising up to 50 bln rupees The board of Suzlon Energy Ltd has approved raising up to 50 bln rupees through a combination of equity linked instruments or any other instruments, the company said in a release today. The company will now seek shareholder approval for the raising the funds at its forthcoming annual general meeting, the release said. WebLink://Click here for story:/id=14545 - 01-08-2011/go . Hind Zinc cuts lead price by 2,900 rupees/tn to 134,100 rupees Hindustan Zinc Ltd today slashed lead price by 2,900 rupees per tn to 134,100 rupees, the company said on its website. The company, however, left zinc price unchanged at 126,900 rupees per tn. WebLink://Click here for story:/id=14465 - 01-08-2011/go . Hind Zinc cuts lead price by 2,900 rupees/tn to 134,100 rupees Hindustan Zinc Ltd today slashed lead price by 2,900 rupees per tn to 134,100 rupees. The company, however, left zinc price unchanged at 126,900 rupees per tn. WebLink://Click here for story:/id=14454 - 01-08-2011/go . Hyundai India Jul total sales 49,667 units, down 1.5% on yr Hyundai Motor India Ltd today said it sold a total 49,667 vehicles in July, down 1.5% from a year ago. The Korean carmaker's Indian arm had sold a total of 52,531 vehicles in June. WebLink://Click here for story:/id=16853 - 01-08-2011/go . Rural Electrification plans to raise up to $1 bln via FCCB FY12 State-owned lender to the power sector Rural Electrification Corp Ltd plans to raise up to $1 bln via foreign currency convertible bonds in the current financial year started April, a top official of the company told NewsWire18 today. WebLink://Click here for story:/id=16250 - 01-08-2011/go . Source says Aavishkaar Venture aims $60 mln 1st close for PE fund Mumbai-based Aavishkaar Venture Management Services Pvt Ltd is targeting a first closure of $60 mln for its proposed fourth fund by end of August, a source familiar with the development told NewsWire18. WebLink://Click here for story:/id=15938 - 01-08-2011/go . Residency Projects acquires online travel portal BonVoyage.in Bangalore-based Residency Projects and Infratech Ltd has acquired online travel portal BonVoyage.in for an undisclosed amount. Residency Projects, a real estate and infrastructure company, will merge BonVoyage with its 100% subsidiary Valuemart Travel Solutions Pvt Ltd, the former said in
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a regulatory filing today. WebLink://Click here for story:/id=15713 - 01-08-2011/go . Source says GVK Power may cut stake in some oil exploration blocks De-risking seems to be the new business mantra for companies in the domestic oil and gas exploration space. After Reliance Industries Ltd, GVK Power & Infrastructure Ltd is looking to pare its stake in some deepwater exploration blocks, a source close to the development told NewsWire18. WebLink://Click here for story:/id=16911 - 01-08-2011/go . Highlights of RBI Governor D. Subbarao's comments WebLink://Click here for story:/id=16960 - 01-08-2011/go . Mahindra Aerospace in talks to buy stake in aircraft parts maker Mahindra Group's aerospace division Mahindra Aerospace Pvt Ltd is in talks with more than one aircraft parts maker in Europe and the US for a possible acquisition. WebLink://Click here for story:/id=17325 - 01-08-2011/go . Govt appoints MC Joshi as new Central Board of Direct Tax chairman The government appointed M.C. Joshi as the new chairman of Central Board of Direct Taxes, a press release said today. Joshi, a 1974-batch Indian Revenue Service officer, took charge today after Prakash Chandra retired on Jul 31. WebLink://Click here for story:/id=17285 - 01-08-2011/go . ABB gets orders worth 161 mln rupees for 3 solar power plants ABB Ltd has bagged orders worth 161 mln rupees for supply of turnkey power and automation solutions for three photovoltaic solar power plants with a combined capacity of 11 MW. WebLink://Click here for story:/id=17280 - 01-08-2011/go . PM advisory panel cuts FY12 GDP growth forecast to 8.2% from 9.0% The Prime Minister's Economic Advisory Council today sharply cut the gross domestic product growth forecast for 2011-12 (Apr-Mar) to 8.2% from 9.0% projected in February. WebLink://Click here for story:/id=17188 - 01-08-2011/go . India-Japan bilateral trade seen $25 bln by 2014 vs $12.6 bln now The bilateral trade between India and Japan is expected to rise to $25 bln by 2014 against $12.6 bln currently, the commerce and industry ministry said in a release. WebLink://Click here for story:/id=17081 - 01-08-2011/go . DCOM Systems hikes stake in Jaihind Projects to 36.06% from 14.18% Jaihind Projects Ltd today said DCOM Systems Ltd has raised stake in the company to 36.06% from 14.18%. WebLink://Click here for story:/id=17339 - 01-08-2011/go . PM to chair review meeting on performance of Indian ports today Prime Minister Manmohan Singh will review the working of ports in the country later today, a government official said today. Finance Minister Pranab Mukherjee and Shipping Minister G.K. Vasan are among those who would attend the meeting. WebLink://Click here for story:/id=17334 - 01-08-2011/go . RBI Subbarao stresses "need to raise rates to restrain inflation" There is a need to increase interest rates in order to curb
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inflationary pressures and India may have to sacrifice some growth in the near-term to attain more sustainable economic expansion, Reserve Bank of India Governor D. Subbarao said today. WebLink://Click here for story:/id=17054 - 01-08-2011/go . Ambuja cements Jul despatches up 14% on year, production rises 18% Ambuja Cements Ltd despatched 1.70 mln tn cement in July, 14% higher than 1.49 mln tn a year ago, a company release today said. The company's cement production during the month rose 18% to 1.67 mln tn, against 1.41 mln tn in the corresponding month last year. WebLink://Click here for story:/id=17051 - 01-08-2011/go . ARSS Infrastructure-Atlanta consortium gets 2.2-bln-rupee order Atlanta-ARSS Consortium, a joint venture between Atlanta Ltd and ARSS Infrastructure Projects Ltd, has won a 2.2-bln-rupee order from the Punjab Infrastructure Development Board to design, build, finance, and operate the Ropar-Chamkaur Sahib-Neefon-Dorah road near Chandigarh, ARSS Infrastructure said in a release today. WebLink://Click here for story:/id=17011 - 01-08-2011/go . First State Investment ups stake in Idea Cellular to 5.02% vs 3.29% First State Investment Management (UK) Ltd has raised its stake in Idea Cellular Ltd to 5.02% from 3.29%, the latter informed the Bombay Stock Exchange today. WebLink://Click here for story:/id=17376 - 01-08-2011/go . CRICKET: India 8/1 in second innings vs England - 2nd Test WebLink://Click here for story:/id=17390 - 01-08-2011/go . . VIDEO: CNBC-TV18: StanChart says FMCG sector may be re-rated WebLink://Click here for story:/id=12414 - 01-08-2011/go . . EARNINGS -------Nifty Earnings Poll: Consensus estimates of Apr-Jun net, sales WebLink://Click here for story:/id=11565 - 01-08-2011/go . Highlights of Indian companies Apr-Jun earnings detailed so far WebLink://Click here for story:/id=10995 - 01-08-2011/go . Earnings Outlook: Flat volumes to pull dn DLF Apr-Jun net 5% on yr A mix of flat volumes, high interest costs and weak margins is expected to impact DLF Ltd's Apr-Jun earnings with the realty major's net profit likely to decline by 5% on year to 3.92 bln rupees. WebLink://Click here for story:/id=14201 - 01-08-2011/go . Tilaknagar Industries Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=17415 - 01-08-2011/go Nath Seeds Apr-Jun earnings detailed table WebLink://Click here for story:/id=17414 - 01-08-2011/go Cambridge Solutions Apr-Jun earnings detailed table WebLink://Click here for story:/id=17366 - 01-08-2011/go Vijay Shanthi Builders Apr-Jun earnings detailed table
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WebLink://Click here for story:/id=17326 - 01-08-2011/go Jamna Auto Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17286 - 01-08-2011/go Thirumalai Chemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=17252 - 01-08-2011/go Aravali Industries Apr-Jun earnings detailed table WebLink://Click here for story:/id=17130 - 01-08-2011/go Dhanus Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=17043 - 01-08-2011/go Tube Investments of India Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=16982 - 01-08-2011/go Grand Foundry Apr-Jun earnings detailed table WebLink://Click here for story:/id=16941 - 01-08-2011/go Birla Ericsson Optical Apr-Jun earnings detailed table WebLink://Click here for story:/id=16934 - 01-08-2011/go GSK Consumer Healthcare Apr-Jun earnings detailed table WebLink://Click here for story:/id=16854 - 01-08-2011/go NW18:Shree Ganesh Jewellery House Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=16486 - 01-08-2011/go Havells India Apr-Jun earnings detailed table WebLink://Click here for story:/id=16386 - 01-08-2011/go Axis-IT&T Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=16204 - 01-08-2011/go Archies Apr-Jun earnings detailed table WebLink://Click here for story:/id=16175 - 01-08-2011/go Shree Cement Apr-Jun earnings detailed table WebLink://Click here for story:/id=15756 - 01-08-2011/go Tulsi Extrusions Apr-Jun earnings detailed table WebLink://Click here for story:/id=15558 - 01-08-2011/go Atlas Cycles (Haryana) Apr-Jun earnings detailed table WebLink://Click here for story:/id=15380 - 01-08-2011/go Indraprastha Gas Apr-Jun earnings detailed table WebLink://Click here for story:/id=15379 - 01-08-2011/go Grabal Alok Impex Apr-Jun earnings detailed table WebLink://Click here for story:/id=15297 - 01-08-2011/go Relaxo Footwears Apr-Jun earnings detailed table WebLink://Click here for story:/id=15256 - 01-08-2011/go Hotel Rugby Apr-Jun earnings detailed table WebLink://Click here for story:/id=14874 - 01-08-2011/go Pfizer Apr-Jun earnings detailed table WebLink://Click here for story:/id=14804 - 01-08-2011/go Sun TV Network Apr-Jun earnings detailed table WebLink://Click here for story:/id=14420 - 01-08-2011/go Vindhya Telelinks Apr-Jun earnings detailed table WebLink://Click here for story:/id=14419 - 01-08-2011/go Sambhaav Media Apr-Jun earnings detailed table WebLink://Click here for story:/id=14383 - 01-08-2011/go Force Motors Apr-Jun earnings detailed table WebLink://Click here for story:/id=13650 - 01-08-2011/go Ramkrishna Forgings Apr-Jun earnings detailed table WebLink://Click here for story:/id=13616 - 01-08-2011/go Murudeshwar Ceramics Apr-Jun earnings detailed table WebLink://Click here for story:/id=13322 - 01-08-2011/go JMT Auto Apr-Jun earnings detailed table WebLink://Click here for story:/id=13303 - 01-08-2011/go Phoenix Mills Apr-Jun earnings detailed table WebLink://Click here for story:/id=13295 - 01-08-2011/go Sarda Energy & Minerals Apr-Jun earnings detailed table WebLink://Click here for story:/id=13168 - 01-08-2011/go Savita Oil Technologies Apr-Jun earnings detailed table WebLink://Click here for story:/id=13117 - 01-08-2011/go
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Ashima Apr-Jun earnings detailed table WebLink://Click here for story:/id=13029 - 01-08-2011/go Nahar Poly Films Apr-Jun earnings detailed table WebLink://Click here for story:/id=13000 - 01-08-2011/go Madras Fertilizers Apr-Jun earnings detailed table WebLink://Click here for story:/id=12986 - 01-08-2011/go La Opala RG Apr-Jun earnings detailed table WebLink://Click here for story:/id=12962 - 01-08-2011/go Orient Abrasives Apr-Jun earnings detailed table WebLink://Click here for story:/id=12910 - 01-08-2011/go PAE Ltd Apr-Jun earnings detailed table WebLink://Click here for story:/id=12882 - 01-08-2011/go Paras Petrofils Apr-Jun earnings detailed table WebLink://Click here for story:/id=12848 - 01-08-2011/go Nahar Capital & Financial Services Apr-Jun earnings detailed table WebLink://Click here for story:/id=12721 - 01-08-2011/go Kothari Petrochemicals Apr-Jun earnings detailed table WebLink://Click here for story:/id=12362 - 01-08-2011/go R Systems International Apr-Jun earnings detailed table WebLink://Click here for story:/id=12287 - 01-08-2011/go Hitech Plast Apr-Jun earnings detailed table WebLink://Click here for story:/id=11988 - 01-08-2011/go Alkali Metals Apr-Jun earnings detailed table WebLink://Click here for story:/id=11965 - 01-08-2011/go Eurotex Industries and Exports Ltd Apr-Jun earnings detailed table WebLink://Click here for story:/id=11915 - 01-08-2011/go Torrent Pharmaceuticals Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=11657 - 01-08-2011/go NW18:Core Projects & Technologies Apr-Jun consol earnings detailed table WebLink://Click here for story:/id=11288 - 01-08-2011/go KEC International Apr-Jun consolidated earnings detailed table WebLink://Click here for story:/id=11151 - 01-08-2011/go Indraprastha Medical Corp Apr-Jun earnings detailed table WebLink://Click here for story:/id=10429 - 01-08-2011/go Nestle India Apr-Jun earnings detailed table WebLink://Click here for story:/id=10283 - 01-08-2011/go Suzlon Energy Apr-Jun earnings detailed table WebLink://Click here for story:/id=10254 - 01-08-2011/go Karnataka Bank Apr-Jun earnings detailed table WebLink://Click here for story:/id=10221 - 01-08-2011/go . . STOCK MARKET ----------------------------------------------------------------------------. Stocks To Watch: SAIL; Siemens; Suzlon; steel and mining cos WebLink://Click here for story:/id=10199 - 01-08-2011/go . India Stocks Outlook: Seen rising 1% as US debt deal clinched Share indices are seen gaining around 1% at open as US President Barack Obama, ending the precarious stalemate, said late Sunday that Republican and Democrat Congressional leaders have reached a deal to raise the nation's debt limit. WebLink://Click here for story:/id=10262 - 01-08-2011/go . India Stocks: Up 1% as investors cheer US debt deal; metal cos fall Share indices rose 1% as investors heaved a sigh of relief after US President Barack Obama late Sunday said Republican and Democrat leaders
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have reached an agreement to raise the country's $14.3 trln debt limit, dealers said. WebLink://Click here for story:/id=12863 - 01-08-2011/go . India Stocks Review: End off highs on profit sales; ONGC up 1.5% The indices ended off highs as investors booked profits ahead of the crucial vote in the US House of Representatives and the Senate on the White House-backed debt deal. WebLink://Click here for story:/id=17119 - 01-08-2011/go . . . Security-wise delivery positions detailed by NSE for Aug 1-Part 1 WebLink://Click here for story:/id=17386 - 01-08-2011/go Security-wise delivery positions detailed by NSE for Aug 1-Part 2 WebLink://Click here for story:/id=17387 - 01-08-2011/go India Data Watch: Tracking key economic and market numbers WebLink://Click here for story:/id=14555 - 01-08-2011/go Global M&As: Macarthur Coal; First Niagra; CNOOC; Southern Union WebLink://Click here for story:/id=17080 - 01-08-2011/go India M&As: MphasiS; Residency Projects; Cox & Kings; Cadila WebLink://Click here for story:/id=17077 - 01-08-2011/go BSE sector indices, ratios as on Aug 1 WebLink://Click here for story:/id=17063 - 01-08-2011/go Top gainers in major NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16992 - 01-08-2011/go Top losers in major NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16994 - 01-08-2011/go Top volume grossers in main NSE, BSE indices - Aug 1 WebLink://Click here for story:/id=16995 - 01-08-2011/go Main Asian share indices at 1530 IST WebLink://Click here for story:/id=16848 - 01-08-2011/go Data Watch: RBI's reference rate for leading currencies WebLink://Click here for story:/id=14546 - 01-08-2011/go DATA ALERT: Skindia's ADR/GDR index for Indian companies - Jul 29 WebLink://Click here for story:/id=13360 - 01-08-2011/go Support, resistance levels for select shares today WebLink://Click here for story:/id=10139 - 01-08-2011/go . . IPO ---. IPO Alert: L&T Fin Holdings sets issue price at 52 rupees/share L&T Finance Holdings Ltd, a subsidiary of engineering major Larsen & Toubro Ltd, has priced its initial public offering of shares at 52 rupees per share. At 52 rupees a share, L&T Finance will issue shares at a price-to-earnings multiple of nearly 23 times its 2010-11 (Apr-Mar) earnings. WebLink://Click here for story:/id=10350 - 01-08-2011/go . India IPO Watch: Issues announced, likely in future WebLink://Click here for story:/id=17094 - 01-08-2011/go . India IPO Watch: Issues currently open, recently closed WebLink://Click here for story:/id=17087 - 01-08-2011/go . .
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RATING -----. TEXT: ICRA ups rtg on Oswal F M Hammerle Textiles' term loan WebLink://Click here for story:/id=16533 - 01-08-2011/go TEXT: ICRA ups rtg on Jaina Mobile India's fund based facilities WebLink://Click here for story:/id=16515 - 01-08-2011/go NW18:TEXT: ICRA ups rtg on Durha Constructions' fund-based limit to BBB+ WebLink://Click here for story:/id=15144 - 01-08-2011/go TEXT: ICRA cuts rtg on KM Sugar Mills' term loans to D WebLink://Click here for story:/id=15138 - 01-08-2011/go TEXT: ICRA ups rtg on Rana Papers' fund-based limits to B+ WebLink://Click here for story:/id=15119 - 01-08-2011/go TEXT: ICRA ups rtg on Trivista Steels & Powers' fund based limits WebLink://Click here for story:/id=15006 - 01-08-2011/go TEXT: ICRA cuts rtg on AS Cargo Movers' term loans to C+ WebLink://Click here for story:/id=14967 - 01-08-2011/go TEXT: CRISIL ups rtg on Jagran Prakashan' term loan to AA+/Stable WebLink://Click here for story:/id=14432 - 01-08-2011/go . . EQUITY ALERTS ----------------------------------------------------------------------------. Domestic indices to track global markets Tue Indices end off highs on profit booking Indraprastha Gas up 1%; Apr-Jun net profit rises 40% Asian indices end up on US debt deal; exporters rise Europe indices up 1% as US lawmakers reach debt deal Maruti Suzuki down as Jul total sales fall 25% on yr Nestle India down 1.3% as Apr-Jun PAT misses estimate Eicher Motors up 3.6% as Apr-Jun consol PAT grows 38% JSW Steel dn on SC iron ore ban; Citi cuts rtg, target Sadbhav Engineering up as Apr-Jun PAT rises 32% on yr TVS Motor Co jumps 7% on robust Apr-Jun earnings Godfrey Phillips hits 52-wk high; Apr-Jun PAT up 175% Indices up 1% on US debt deal; SAIL dn 3% on results Suzlon Energy seen up as co posts profit in Apr-Jun SAIL seen down 2-3% as Apr-Jun PAT sharply below view Indices seen up on US debt deal; SAIL down on results SGX CNX Nifty Aug up; Asian mkts rise on US debt dealSiemens seen down 1% as Apr-Jun earnings disappoint Rupee seen up after US lawmakers agree on debt deal FIIs net sell index futures worth 9.04 bln rupees Fri Most Indian ADRs end up Fri; Sify soars 21% Key Asian indices surge as US debt deal clinched US indices end down Fri as debt stalemate stretches . . REGULAR STORIES ----------------------------------------------------------------------------. Fund Indices: CRISIL indices for mutual funds - Jul 29 WebLink://Click here for story:/id=14408 - 01-08-2011/go DATA ALERT: Foreign funds net sell $140.17 mln of Indian shr Jul 29 WebLink://Click here for story:/id=17171 - 01-08-2011/go Pledged Shares Monitor: Disclosures by companies as on Aug 1 WebLink://Click here for story:/id=14664 - 01-08-2011/go
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CLOSING BELL - Indian Financial Markets At A Glance WebLink://Click here for story:/id=17359 - 01-08-2011/go DATA ALERT: Corporate bond deals reported on NSE - 1700 IST WebLink://Click here for story:/id=17237 - 01-08-2011/go DATA ALERT: Corporate bond deals reported on Aug 1 WebLink://Click here for story:/id=16165 - 01-08-2011/go Dollar/Rupee Reference Rate - 44.0500 on Aug 1 WebLink://Click here for story:/id=14085 - 01-08-2011/go ADR Tracker: Sify, ICICI Bank, Tata Comm rise; Satyam, Wipro fall WebLink://Click here for story:/id=10131 - 01-08-2011/go Good Morning India - What's Happening, and Where, on Jul 1 WebLink://Click here for story:/id=10112 - 01-08-2011/go . . CALENDARS --------. Calendar: Company AGMs and EGMs WebLink://Click here for story:/id=10431 - 01-08-2011/go Calendar: Company board meetings WebLink://Click here for story:/id=10427 - 01-08-2011/go BSE Corporate Action Watch: Ex-date for shares listed on BSE WebLink://Click here for story:/id=10278 - 01-08-2011/go NSE Corporate Action Watch: Book-closure, ex-dates, record dates WebLink://Click here for story:/id=10273 - 01-08-2011/go . . Political Briefs: Monsoon session; Lokpal debate; Stalin; ISI chief WebLink://Click here for story:/id=17206 - 01-08-2011/go . World Markets At A Glance: Asian equities up; oil falls nearly 2% Asian shares rose today with Japan's Nikkei topping the 10000 mark as traders stacked up holdings on optimism US lawmakers will pass the deal to raise the country's debt ceiling. WebLink://Click here for story:/id=10205 - 01-08-2011/go . . PRESS ----. India Press Summary: Iran crude; IRDA; M&M car; fertiliser subsidy WebLink://Click here for story:/id=10218 - 01-08-2011/go . PRESS: GVK Power may finalise Hancock coal mines' buy in two mos GVK Power and Infrastructure may finalise a deal to buy two coal mines operated by Australia's Hancock Prospecting in two months, according to a report by Press Trust of India quoting GVK Group Chairman G.V.K. Reddy. WebLink://Click here for story:/id=10243 - 01-08-2011/go . PRESS: Neyveli Lignite seeks 3 de-allocated coal blocks of NTPC Neyveli Lignite has asked the government to allocate three coal blocks in Jharkhand that were recently taken back from NTPC Ltd, according to a report in The Economic Times. WebLink://Click here for story:/id=10256 - 01-08-2011/go . . End
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. IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT . Compiled by Nilima Dabhade . NewsWire18 Tel +91 (22) 6637-8700 Send comments to feedback@newswire18.com Document NWIRIN0020110801e781000do
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CORPORATE Mundra adds to its coal terminal facilities abroad Vidya Bala 577 words 4 May 2011 Business Line (The Hindu) BSNLNE English (c) 2011 The Hindu Business Line Abbot Point terminal buy may increase debt in short-term Mundra Port & SEZ's (Mundra) Rs 8,694crore acquisition of a 99-year lease of Abbot Point X50 Coal Terminal in Queensland, Australia would not only add more international assets to its kitty but also enable transportation of coal from mines owned by its parent in the region. However, massive debt in the near term, until the company resorts to takeout financing, would be a dampener. The stock fell 3.5 per cent on Tuesday in line with broad market sentiment. This would be the second terminal to be operated by Mundra in Queensland. The company is developing a coal export terminal at Dudgeon Point Port in Queensland, as a greenfield project, with capacity of 30-60 million metric tonnes per annum (MMTPA). The Abbot Point port, which is an operational facility, has a 50 MMTPA capacity with scope to expand it by another 30 million tonnes. The bid price of 1.8 billion Australian dollars (Rs 8,694 crore) for this terminal may appear aggressive, given that the company is expected to receive about A$110 million or Rs 530 crore as revenue (and Rs 285 crore EBITDA) in 2011. Based on these numbers, the Enterprise Value to EBITDA at 30 times appears to be at a premium. Full capacity However, going by the revenue projection provided by the company from the terminal, it is evident that only 36 per cent of the 50 million tonnes of capacity is currently being utilised on a use or pay basis. At full capacity, the terminal would generate about A$305 million or Rs 1,500 crore of revenue (at
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current exchange rates) and Rs 1,030 crore of EBITDA on an annual basis. The revenue stream from this terminal can be expected to be stable as 50 million tonnes are on a use or pay basis wherein third parties would have to pay a fixed sum irrespective of usage of the terminal. The debt levels in the medium term for Mundra though may shoot up. The company has stated that this is an all-cash deal funded through an acquisition debt taken overseas. Integration effort However, the asset base of the port is expected to soon allow the company to arrange for a takeout finance at the asset level. If this happens, Mundra's balance sheet which had a debt of over Rs 3,000 crore (September 2010) may remain moderately leveraged at about one. The cost of debt though may be low given that it is being sourced overseas. While Mundra has to compulsorily use the 50-million-tonne capacity of Abott terminal for third party customers, it can choose to use the additional 30 million tonnes expansion for its own purpose. It is noteworthy that the Galilee coal mines that Mundra's parent Adani Enterprises, acquired in 2010, is expected to produce 70-80 million tonnes a year of coal. The Dudgeon Port's capacity (initially 30 million tonnes) as well as any expanded capacity in Abbot shall be utilised by Adani Enterprises for transport of coal from the mine. The Adani group has been adopting a strategy of integrating backwards into coal mine and port facilities to enable movement of coal from its mines abroad. In Indonesia too, the group is building a rail and port facility to enable shipment of coal. Document BSNLNE0020110505e7540000k
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Adani grows ports business overseas with A$1.8 bn buy 1,065 words 3 May 2011 Mint HNMINT English Copyright 2011. HT Media Limited. All rights reserved. Bangalore, May 3 -- Mundra Port and Special Economic Zone Ltd (MPSEZ), the company that manages and operates India's biggest private port, has acquired the rights to develop and operate the Abbot Point Coal Terminal in Queensland in Australia on long-term lease in an all-cash deal worth Australian dollar (A$) 1.83 billion (Rs 8,930 crore). The deal, signed in Brisbane on Tuesday, will help MPSEZ, owned by billionaire Gautam Adani, to expand its port business outside India and significantly benefit its coal trading and power generation interests. "The deal is fully funded by Standard Chartered Bank," Rajeeva Sinha, a director at MPSEZ, said in a phone interview from Brisbane. Analysts said Adani's latest win fitted with the group's ambition to be a big entity in ports as well as businesses connected to it such as shipping, coal and power. "This (Queensland) is a region with relatively less developed coal-handling infrastructure and significant mining assets," said Shubhranshu Patnaik, senior director at Deloitte Touche Tohmatsu India Pvt. Ltd. "The demand for port facilities is going to rise in the Queensland area, so it makes sense as a port investment." The Abbot Point Coal Terminal owned by North Queensland Bulk Ports Corp. Ltd (NQBP) has two berths capable of handling capesize vessels, the largest of the dry bulk cargo carriers, with annual capacity to load 50 million tonnes (mt) of coal. The highly mechanized coal terminal is backed by a rail loop, conveyor and modern loading systems, and serves the demand of coal mines in northern Queensland that have committed to export 50 mt a year of the commodity in the near term, with a potential to ramp it up to 80 mt later. "We have harboured aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India's increasing global ambition and will boost synergy with other businesses of the group," Gautam Adani, chairman of Adani Group, said in a statement. Mumbai-listed MPSEZ, 81% owned by Gautam Adani, handled 51.6 mt of cargo in the year to March.
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It plans to handle 200 mt of cargo by 2020. The Ahmedabad-based group is India's biggest coal importer and trader, supplying about 30 mt of coal a year sourced from its mines in Indonesia and Australia. It bought Linc Energy Ltd in Queensland for A$3 billion in August. The group expects to supply 200 mt of coal by 2020. MPSEZ will add 30 mt of coal handling capacity at the Australian port in the next four-five years with a view to cater to its forthcoming power plants at Dahej and Mundra in Gujarat. MPSEZ currently operates ports at Mundra and Dahej. It is also developing a multi-purpose port to load non-liquefied natural gas cargo at Hazira in Gujarat, and coal-loading terminals at Union government-controlled ports at Mormugao and Visakhapatnam. And it holds the right to develop and operate a new port at Dholera in Gujarat, in partnership with the JK Group. Last year, Adani Group was selected as the preferred bidder to develop coal export facilities at Dudgeon Point, also owned by NQBP. Dudgeon Point is located approximately 15km south of Mackay on the Queensland coast and lies within the Port of Hay Point about 4km north of the existing coal terminals. "We have been assured of the rights to develop the coal export terminal at Dudgeon Point subject to completion of feasibility studies, including environment impact assessment and viability of the project," Sinha said. If the deal goes through, the Dudgeon facility will be developed entirely by Adani Mining Pty Ltd, the group's mining unit in Australia, and will be a captive facility unlike the Abbot Point terminal, which is a multi-user port, he added. The captive facility will help Adani get better control over its coal imports from Australia to feed its power plants in India as also to grow its coal trading business, analysts said. "Ultimately, it is the power sector that is driving these coal acquisitions. The power deficit (in India) is about 10% and power demand is growing close to GDP (gross domestic product) growth rate. So power producers need to grow very fast," said Salil Garg, director (corporates) at Fitch Ratings India Pvt. Ltd. More acquisitions of coal and port assets in the future by Adani Group will not be a surprise, given the group's ambition, an analyst said. "It is their stated intent to be the biggest in coal handling in India. They have said they want to handle more coal than Coal India itself," said Arun Kejriwal, director of Kejriwal Research and Information Services Pvt. Ltd. "They know that it is not just enough to secure raw material, but the infrastructure to carry it as well." India's coal imports are seen rising to 100 mt this fiscal from about 85 mt in 2010-11, according to
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Fitch. The deal will be a profitable one, said B. Ravi, chief financial officer of MPSEZ. "The port is expected to have revenues of A$110 million in 2011 with Ebitda (earnings before interest, tax, depreciation and amortization, a measure of operating profit) of A$59 million. The Ebitda margin in 2011 would be 54% and will increase to 70% in 2016, when expanded facilities are fully utilized. It would then have revenue of A$305 million and Ebitda of A$213 million. The Abbot Point Coal Terminal is the most northerly coal export port in Queensland. The Queensland government has structured its sale through a 99-year lease of existing coal terminal facilities and associated infrastructure. "Australia's coal loading terminals are currently facing capacity constraints," said Henriette Van Niekerk, a dry cargo analyst at Clarkson Plc, the world's biggest shipbroker. With coal prices ruling high in the global market, any form of port congestion or lack of port capacity will have an impact on export prices and volumes, she said over phone from London. "By injecting private funds, Australia will be able to create more port capacity and eliminate congestion."Published by HT Syndication with permission from MINT. Document HNMINT0020110504e7530003c
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Mundra acquires Australian port Abbot Point for A$ 1.8 bln 438 words 3 May 2011 UNI (United News of India) UNNIND English Copyright 2011. United News Of India New Delhi, May. 3 -- Mundra Port and Special Economic Zone Ltd (MPSEZ), a subsidiary of Adani Enterprises, today announced that it has acquired the Australian coal terminal Abbot Point for about Rs 9,000 crore. The Abbot Point coal terminal has an operational capacity of 50 metric tonnes, and an expansion capability of up to 80 million tonnes. The State of Queensland in Australia has declared MPSEZ as the successful bidder for long term lease of Abbot Point X50 Coal Terminal (APCT) following international competitive bidding, MPSEZ, the company which manages and operates country's largest private port, said in a statement here. The international bid attracted local and foreign companies and international consortia and the bid passed through three distinct stages of selection lasting over six months, it said. The deal was signed in Brisbane, Australia between the company officials and the Queensland government, this morning. "We wish to inform that this achievement also marks the beginning of expansion of business of MPSEZ outside India and is also an acknowledgement of the robust management capability of Mundra Port in developing and operating ports anywhere in the world," Adani Group chairman Gautam Adani said. APCT is most northerly coal export port in Queensland and is owned by North Queensland Bulk Ports Corporation Ltd (NQBP). The State has structured the sale of APCT through a 99 year lease of existing coal terminal facilities and associated infrastructure. The coal terminal has two berths capable of handling cape size vessel over 2 lakh tonnes deadweight with annual capacity to load 50 million tonnes. It is highly mechanised coal terminal together with rail loop, conveyor and modern loading system and serves the demand of coal mines in northern Queensland which have committed to export 50 MMT in the near term. There is also a scope of further addition, taking the port capacity to 80 MMT, the statement said. "We have harboured aspirations to expand globally and were in search of right business opportunity with strategic fit. Abbot Point is our contribution to India's increasing global ambition and will boost synergy with other businesses of the Group," Mr Adani added. MPSEZ, a subsidiary of the infrastructure conglomerate Adani Enterprises, operates ports at Mundra and Dahej. It is developing ports at Hazira and Coal Terminals Mormugao and has recently secured the LOA for developing an import coal terminal at Vishakhapatnam.Published by HT Syndication with permission from United News of India. Document UNNIND0020110503e7530005n
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Asia Mundra Port Wins Bid for Australia Coal Terminal By Eric Yep of Dow Jones Newswires 864 words 3 May 2011 15:50 The Wall Street Journal Online WSJO English Copyright 2011 Dow Jones & Company, Inc. All Rights Reserved. MUMBAI --Mundra Port & Special Economic Zone Ltd. has won a $2 billion game-changing deal after a six-month bidding battle with companies around the world to operate and develop Australia's Abbot Point X50 Coal Terminal for 99 years. The deal will more than double Mundra Port's balance sheet size and its overall cargo-handling capacity, as well as help the company transport coal from Australia to India, where an expanding economy and surging demand for power from homes and industries are leading to a rush to secure supplies of the fossil fuel. "The deal was signed in Brisbane between company officials and the Queensland government, this [Tuesday] morning," the Indian company said in a filing with the Bombay Stock Exchange. A statement from the Queensland state government said that the sale price exceeded its expectation of A$1.5 billion ($1.63 billion). The sale money will help pay the state's bill for a string of weather disasters during the southern tropical wet season, which Australia's Treasury estimates have cost the economy A$9 billion ($9.78 billion) with a reconstruction bill of A$5.8 billion ($6.3 billion). "The proceeds from the lease of the Abbot Point Coal Terminal would help pay Queensland's share of the recovery costs," Queensland Premier Anna Bligh said. Mundra Port--India's biggest private port operator by capacity--is a unit of diversified conglomerate Adani Enterprises Ltd., which also controls Adani Power Ltd., a power producer with significant expansion plans.
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The Abbot Point Coal Terminal, a coal-export facility which is expanding its capacity to 50 million tons a year in 2011, is located in northern Queensland, close to Adani's coal mines in the Galilee basin. More than half of India's power-generation capacity of 173.6 gigawatts is based on thermal coal, and the world's second-fastest growing major economy aims to add 163 GW capacity in the 10 years through March 2017. But the country faces a shortage of coal, which has forced state-run Coal India Ltd., the world's biggest coal producer, as well as private companies to explore options to import coal or acquire coal mines overseas. The Abbot contract strengthens the Adani Group's foothold in Australia where the group bought Linc Energy Ltd.'s coal mines for $2.7 billion last year and plans to invest A$6.9 billion ($7.5 billion) to develop the Galilee basin coal mines and related infrastructure in Queensland state. "Mundra has been looking at commercial centers all over India, and all over the world," said B. Ravi, chief financial officer at Mundra Port. "Abbot Point fits into the global strategy as well as the group's strategy in the region." He said the all-cash deal has been funded through acquisition finance by way of debt and the company will explore asset-level financing in a couple of months. Bids From Australia, Overseas The Queensland government's bidding process for the Abbot Point X50 Coal Terminal attracted interest from companies and consortiums in Australia as well as overseas and took six months, Mundra said, adding that it "marks the beginning of expansion of business of Mundra Port outside India." Abbot Point is owned by North Queensland Bulk Ports Corp. Ltd. and has two berths capable of handling cape-size vessels of more than 200,000 deadweight tons with a capacity to load 50 million tons a year. It can be expanded to 80 million tons. The expansion may cost as much as A$600 million ($653 million) and take about three years, Mr. Ravi said, but added that the company hasn't yet finalized the port's expansion plans. In 2009-10, about 17 million tons of coal was transported through Abbot Point. Mundra continues to study acquisition opportunities in other parts of the world as demand for coal continues to grow in India.
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"Abbot Point is an existing profit making, operating port, soon, with take or pay arrangements for its entire 50 million ton capacity," the company said. Mundra expects Abbot Point to post revenue of $110 million in 2011, and margins to gradually increase by 2016 when expanded facilities are fully utilised with revenue of $305 million. Mundra Port, which operates India's largest private port in the western state of Gujarat, has ports at Mundra and Dahej. It is developing a port at Hazira and plans to develop a coal-import terminal at Vishakhapatnam in southern India. Mundra Port, with a capacity of 50 million tons a year, plans to handle 200 million tons of cargo a year by 2020. The Mundra deal could be the first step to make Abbot Point the largest coal port in the world, said a person familiar with the deal. "Theoretically, you could have 300 million tons to 400 million tons a year there," the person said. That compares with a target of 163 million tons a year currently at Newcastle, the world's busiest coal port in Australia's state of New South Wales, the person added. Document WSJO000020110503e753002jp
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IIFL Infrastructure Highlights for Year 2010 India Infoline News Service 14,844 words 31 December 2010 Indiainfoline News Service INFOIN English Copyright 2010. Indiainfoline Ltd. Top Stories RNRL-RPower merger...swap ratio fixed at 4:1 Reliance Power Ltd. and Reliance Natural Resources Ltd. (RNRL) have informed that their Board of Directors approved a merger ofthe two companies through a Scheme of Amalgamation. The Scheme envisages an exchange ratio of 1 equity share of Reliance Power for every 4 (four) equity shares of RNRL. The exchange ratio is based on the valuation made by KPMG. The proposed Scheme will be subject to all necessary permissions and approvals as may be required. Further, the companies have said that the merger is an over Rs500bn (US$11bn) allstock deal.The announcement is significant as it comes close on the heels of the two Ambani siblings rescinding a long-standing non-compete agreement, allowing them to expand into each other's sectors. Also, recently Reliance Industries Ltd. (RIL) and RNRL signed a new gas supply master agreement (GSMA) pursuant to the judgment of the Supreme Court, dated May 7.RNRL said that it would now take appropriate steps requesting the Government of India for expeditious allocation of natural gas to facilitate implementation of the same. The price, quantity and the tenure of the natural gas to be supplied by RIL to RNRL from its KG basin block will be decided by the Government. However, some reports suggest that the new GSMA between the two companies entails supply of 28 mmscmd natural gas for 17 years at US$4.20 per mmbtu. RIL says that the GSMA is compliant with the Gas Utilization Policy and EGoM decisions. L&T wins bid for Hyderabad Metro project
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Hyderabad Metro Rail Ltd. (HMRL) board will meet on Saturday to recommend awarding the Rs121.32bn Metro Rail project to Larsen & Toubro (L&T). The company emerged the lowest bidder, outbidding consortiums led by Reliance and Lanco Infratech. L&T will meet the financial closure in another six months and is expected to complete the project four years after that. The company had offered the lowest viability-gap funding of Rs14.58bn - roughly 12% of the project cost - against the Reliance-led consortiums viability-gap funding of Rs29.91bn, which is 25% of the project cost. The state and central government will be providing up to 40% of the viability-gap funding (Rs48.5bn), while L&T will raise 30% of the project cost through equity and the rest through debt. The bid documents, submitted by L&T, are being verified by financial consultant Deloitte India. L&T would pay Re1 per annum for 20 years as concession to the HMR since it has stake in the project. From the 21st year onwards, revenue sharing would begin between L&T lead Special Purpose Vehicle (SPV) and HMR, which would be 0.5% of the total revenue collection. It would increase by 0.5% every year and up to maximum 10%. After 35 years, the Metro Rail project developer would have to hand over the project to the state government. RCOM approves proposal to restructure Reliance Infratel The Boards of Directors of Reliance Communications Ltd. (RCOM) and its subsidiary, Reliance Infratel Ltd. (RINFRATEL) in-principle approved a proposal to restructure ownership of RINFRATEL, to facilitate creation of the worlds largest independent telecom infrastructure company, not owned and/or controlled by any telecom operator. This transformational proposal will be implemented through a demerger and/or other suitable value-creating options via-a-vis RINFRATELs assets, subject to necessary approvals, with the consideration to be received in a combination of cash and stock. Commenting on the development, Anil D. Ambani, Chairman, Reliance Communications Ltd., stated: "Our transformational initiative of creating the worlds largest independent telecom infrastructure company, will facilitate efforts of new telecom players to achieve the most extensive and fastest nationwide rollout, in the most cost-effective manner. I am personally looking forward to an era of healthy co-operation and collaboration with existing and new players, especially recent winners of 3G and BWA spectrum. I am delighted that this endeavor will greatly benefit Reliance Communications through substantial debt reduction, and enhanced financial flexibility." Govt to add 20,359 MW power in FY11 The Government aims to add 20,359 MW of new power generation capacity in the financial year 201011, deputy chairman of Planning Commission, Dr. Montek Singh Ahluwalia said in New Delhi. India has an installed power capacity of about 160,000 MW. India added only 9,585 MW of power capacity in the year ended March 2010, down a third from its target of 14,507 MW for the year. Private sector
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would fund 40% of the 2007-12 infrastructure funding, Ahluwalia told a news conference in New Delhi. The Government aims to spend US$500bn in the five-years to March 2012 to bolster its tardy infrastructure as it seeks to accelerate economic growth. The Government officials have said it will fail to achieve a target of adding 78,700 MW of power generation capacity in the five years to 2012. It will be able to add only 61,000 MW by 2012. A business daily reported last week that the Government will set up a US$11bn infrastructure fund to upgrade the country's creaking infrastructure, refinance high cost debt and develop the debt market by issuing more long-term paper. The Centre is planning to set up a Rs500bn debt fund to build ports, roads and bridges needed to drive economic growth, Ahluwalia was quoted as saying. He said in a report in March that India may need as much as US$1 trillion in such investment between 2012 and 2017. India spent 6.5% of GDP in 2009 on infrastructure, compared with about 11% by China, according to an Ernst & Young India report. Indias per capita spending on city development is US$17 each year, just 15% of what China spends, according to a report released by McKinsey & Co. last month. Mumbai power tussle...Tata Power moves Bombay HC Tata Power approached the Bombay high court against the Maharashtra government's memorandum, which had asked the company to continue supply of 360 MW of power to Reliance Infrastructure at a regulated rate of Rs3.70-4.40 per unit. The company also requested the court to quash the report of a five-member panel chaired by the state chief secretary on this issue. Tata Power also made Reliance Infrastructure, the citys civic body-run BEST and Tata Power Trading Co. as respondents. "Tata Power has also sought an ad-interim order restraining government entities from taking any further action till the final decision on its writ petition," the company said in a statement. "The decision taken by the government does not factor in the fact that Reliance Infrastructures 160 MW load has shifted to Tata Power and hence its requirements also need to be fulfilled." The state government said the State Load Dispatch Centre (SLDC) should maintain status quo regarding 360 MW unless and until Maharashtra Electricity Regulatory Commission (MERC) gives any direction in the matter. The move is crucial especially when MERC has convened a hearing on June 28 on the matter. RPower to achieve 25,000 MW capacity by 2015 Reliance Power Ltd. Chairman Anil Ambani told shareholders at the company's AGM that it will have an operational capacity of 5,000 MW by 2012 and will commission another 20,000 MW over the next three years. The company is aiming to achieve 25,000 MW capacity by 2015, 3,000 MW of hydro capacity by 2016 and 1,000 MW of green power portfolio over the next five years, Ambani said at the AGM. Ambani also said that the company has domestic mines holding over 2 billion tons of coal reserves that can support up to 20,000 MW of electricity generation capacity. Reliance Power's coal bed methane (CBM) blocks have enough gas reserves for 2,000 MW of power generation capacity, he
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said. Reliance Power has commenced the development of 10,000 MW of gas-based power generation, Anil Ambani said, adding that construction has started for the 2,400-MW gas-based plant at Samalkot in Andhra Pradesh. The project, which will cost Rs100bn, is expected to be completed by 2012, he said. Domestic News L&T signs JV pact with Howden Larsen & Toubro (L&T) and Howden signed a Joint Venture (JV) agreement to design, engineer, manufacture and supply axial fans and air pre-heaters to Indian thermal power plants ranging between 100 MW to 1200 MW. These products form vital components of energy efficient thermal power plants. The JV will invest around Rs1bn for setting up of the industrial facility and related infrastructure. The manufacturing unit will be set up in Hazira, Gujarat, and its operations are expected to commence in 2011. This strategic partnership allows L&T to join forces with a global technology leader, and offers Howden access to the fast growing Indian power plant equipment market. L&T also has joint ventures with Mitsubishi Heavy Industries for the manufacturing of Super Critical Boilers, Steam Turbines and Generators. The manufacture of fans and air-heaters augments L&T Powers portfolio of products from its own operations and operations of its existing joint ventures. With the combination of these three joint ventures, L&T Power will have a distinct edge in the market for power plants. Reliance Power buys 433MW assets from Reliance Infra The committees of Directors, as authorized by the respective boards of Reliance Infrastructure and Reliance Power, on May 27, approved the transfer of 433 MW power generation assets of Reliance Infrastructure comprising of 220 MW at Samalkot (A.P.), 165 MW at Kochi (Kerala) and 48 MW at Zuarinagar (Goa) to Reliance Power. These assets are held by subsidiaries of Reliance Infrastructure. The entire share capital of these subsidiaries has been agreed to be transferred by Reliance Infrastructure to Reliance Power to bring entire power generation portfolio under one roof. The transfer of these assets will take place after obtaining the requisite approvals. With this acquisition and commissioning of its 600 MW Rosa Power Project in UP, Reliance Power will have over 1000 MW operating capacity under its portfolio. GTL Infra-Reliance Infrateldeal called off GTL Infrastructure Ltd. has scrapped the deal to merge Reliance Communications Ltd.'s (RCOM) tower assets held in Reliance Infratel Ltd. with itself. GTL Infra's Board of Directors had earlier given an in-principle approval for the merger of Reliance Infratel Ltd's tower assets into the Company.But, after a careful review, the Committee of Directors in their meeting held on September 6, has conveyed that the Non-Binding Term Sheet signed by both parties dated June 27, expired on August
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31.Subsequently, despite efforts, both parties have neither extended the Term Sheet nor entered into any definitive transaction agreements as envisaged therein.Consequently, the process of merger as originally contemplated would not take place. JSW Energy buys majority stake in Coal Mining Holding SA JSW Energy Ltd. said it has hiked its offer price by 20% to buy South African Coal Mining Holdings SA (SACMH). It has struck a deal to acquire a majority stake in SACMH for around US$85mn (~ Rs3.8bn) from its largest shareholders that will help the company gain access to coal mines to feed its Indian power plants. Under the deal, JSW Energy is purchasing majority stake from two shareholders, including Royal Bafokeng Capital. It has acquired 49.8% in Royal Bafokeng Capital (Proprietary) Ltd. and has the option to acquire the balance equity too. In addition, JSW Energy has also struck a deal and has the option to acquire entire holding of Mainsale 55 Trading (Proprietary) Ltd. These two entities own 284.6 million shares of SACMHL and JSW Energy will pay a price of 30 cents each. This comes as a revised term of an offer made by JSW Energy to SACMHL last month and will mean higher selling price for minority shareholders of JSE-listed SACMHL. The upward revision in price could be on account of a competing bid for SACMHL from Shanduka Coal (Proprietary) Ltd. Shanduka sent its offer to the SACMHL board on March 18. The board had recommend Sandukas proposal to its shareholders. It now remains to be seen if Shanduka raises the stake further for JSW Energy. Reliance Infra promoters hike stake to 43% Shares of Reliance Infrastructure Ltd. advanced after the company's founders raised their stake to 43% from 38% by investing more than Rs18.21bn. On converting the balance warrants, the promoter group's holding will increase to 48%. The promoters bought the additional stake at Rs929 per share, the company said in a statement. Increase of stake by promoters will help bolster investor confidence. Reliance Infrastructure allotted 1.96 crore equity shares to AAA Project Ventures Private Ltd., a Reliance Anil Dhirubhai Ambani promoter group company against convertible warrants issued to them. The Board had in July 2009 allotted 4.29 crore convertible warrants to AAA Project Ventures entitling them to one equity share of Rs10 per warrant at an issue price of Rs929 per share. The issue price was calculated as per applicable SEBI guidelines. The effective purchase cost to the promoter group is Rs1,112 per share after taking into consideration the upfront payment of Rs7.83bn already received on warrants issued earlier, which were cancelled. This equity capital infusion will substantially enhance Reliance Infra's net worth to Rs160bn, and further augment its borrowing capabilities to Rs320bn at even a debt:equity ratio of 2:1. Rel Infra signs concession pact for Mumbai Metro II
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Reliance Infrastructure Ltd. (RInfra) led consortium signed the Concession Agreement with Government of Maharashtra for the second line of Mumbai Metro Rail Project on BOT basis, for a concession period of 35 years with an extension clause of another 10 years. RInfra, part of the Reliance Anil Dhirubhai Ambani Group would be executing this project in a consortium comprising Reliance Communication and SNC Lavalin Inc, Canada. The project has been awarded by the Government for undertaking the development of Mumbai Metro line II, pursuant to an international competitive bidding process under a PPP framework. The total estimated cost of the project is Rs110bn out of which Rs22.98bn will be provided by the Government as Grant. With this investment, RInfra would be committing more than Rs135bn for the Mumbai metro rail sector. Power Grid Corp Board clears FPO plan Power Grid Corporation of India Ltd. announced that its Board of Directors, at its meeting held on January 25, granted an in-principle approval to the Follow on Public Offering (FPO). The issue will be equivalent to 10% of the paid up equity share capital from domestic / external market for augmenting resources of Company to fund its investment programme. This will be subject to approvals by Government of India and approvals as required for FPO. The issue will happen sometime in September and will be of around Rs35bn. The Government of India currently holds 86.36% stake in the company, while the remaining 13.64% is held by public. The company's Board also considered the investment approval for 'Immediate evacuation System for Nabinagar TPS' (1000 MW) at an estimated cost of Rs2.15bn, with commissioning schedule of within 28 months from the date of investment approval. Last week, NTPC and REC received Board approvals and plan to mobilise around Rs140bn via FPOs. Both these FPOs will hit the market in early next month. The Cabinet had earlier asked all listed profitable PSUs to have public shareholding of at least 10% in each of them. There are 17 listed PSUs which have public holding less than 10%. SREI Infra to merge Quippo with self SREI Infrastructure Finance Ltd. said that it would integrate all the subsidiaries of Quippo group of companies under it. "It will be a synergistic integration of all the subsidiaries that would help us in better operations in the future," Hemant Kanoria, Chairman and Managing Director of the company said. He said that the integration would help in creation of a fully integrated and holistic infrastructure institution bringing all infrastructure business under one umbrella - equipment financing, project financing, advisory, development and Quippo's infrastructure business. Quippo has five companies - Quippo Construction, Quippo Telecom, Quippo Oil & Gas, Quippo Energy and an Asset Valuation & Disposal company. SREI Infra would integrate all these under one umbrella to get higher networth to capitalise on future growth. "We have a networth of Rs7.5bn at present, which is expected to be over Rs20bn after the integration," Kanoria said.
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At present, SREI Infra has a promoter holding of 30%, which will go up to 46% after the integration. Quippo has 57% promoters' holding now. The appointed date of merger is April 1, 2010. SREI expects to complete the entire integration process by the second quarter of 2010-11. "Shareholders of Quippo will receive 3 shares of SREI Infra for every 2 share held in Quippo," Kanoria said. Infra financing...RBI unveils new NBFC category The Reserve Bank of India (RBI) issued a notification introducing a new category of Non-Banking Finance Companies (NBFCs) as Infrastructure Finance Companies (IFCs). The existing categories of NBFCs are Asset Finance Companies (AFCs), Loan Companies (LCs) and Investment Companies (ICs). In addition, with a view to encouraging larger flow of funds to the crucial infrastructure sector, the exposure of a bank to IFCs has been enhanced to 20% of its capital funds. NBFCs should also deploy a minimum of 75% of total assets in infrastructure loans to be recognised as IFCs, the RBI said in a statement. NBFCs with net owned funds of Rs3bn or above with a minimum credit rating A or equivalent of CRISIL, Fitch, CARE, ICRA or equivalent rating by any other accrediting rating agencies could enter infrastructure financing, the central bank said. Unlike banks, which have to maintain a 9% capital adequacy ratio, IFCs need to maintain a CAR of 15%, of which at least 10% should comprise tier one capital. As per the RBI notification, IFCs will not be subject to the borrower limits which restrict NBFCs from lending to any single borrower by 10% of its owned fund, and any single group of borrowers by 15% of its owned fund. IFCs are also exempt from the restriction limiting single party exposure to 5% of net owned fund and group exposure to 10% of net owned fund. I-T officials raid NCC premises: reports The Nagarjuna Construction Company (NCC) has reportedly declared an undisclosed income of Rs1.25bn. Officials of the Income Tax department had conducted countrywide searches on almost all the offices of NCC. Reports said that in all, 46 offices of the NCC in 14 cities were searched and several incriminating documents seized. The I-T sleuths seized Rs3.1mn in cash and over 4 kg gold from the residence of Ranga Raju, one of the NCC directors. Material pertaining to some projects was also confiscated, according to reports. The I-T officials also tried to grill A.G.K. Raju, but he allegedly complained of ill health. Raju looks after the finances and accounts. Though NCC has declared undisclosed income, it is unclear whether it pertains to the current fiscal year or previous years. QIBs drive Jaypee Infratech IPO subscription The initial public offer (IPO) of Jaypee Infratech received bids for 190.38mn shares compared to 221.76mn shares on offer. QIBs led the bidding even as he HNIs and Retail investors remained cautious. The IPO was subscribed 86% by 16:00 IST on Friday, as per NSE web site. The company has set a price band of Rs102-117 per share for its IPO. Retail investors will be allotted shares at a
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discount of up to 5% to the issue price that will be determined as per the 100% book-building route. The issue closes on May 4. The IPO is a combination of fresh issue of equity shares aggregating up to Rs16.5bn and an offer for sale 60mn shares by Jaiprakash Associates. Jaypee Infratech is engaged in the development of the 165-kilometer Yamuna Expressway (access controlled concrete pavement expressway) connecting Greater Noida and Agra. The project which includes development of 5 integrated townships along the expressway, is scheduled to be completed by 2011. Meanwhile, the IPO of Satluj Jal Vidyut Nigam Ltd. was subscribed 56% as of 4 PM on Friday. The public sector hydro-power utility is planning to raise about Rs12bn via the IPO. The issue will close on May 3. The company has fixed a price band of Rs23-26 per share. The company came out with a public offering of 41.50 crore equity shares. The company is currently constructing the Rampur project, which is expected to be a 412 MW hydroelectric power generation facility located downstream from the NJHPS. The Rampur project is currently and commissioned in 2013. The company has also entered into memoranda of understanding with the state government of Uttarkhand for three hydroelectric projects with an expected aggregate generation capacity of 363MW. L&T, Rolls-Royce tie-up for light water reactors Larsen & Toubro Ltd. (L&T) and Rolls-Royce, the global power systems company, signed a Memorandum of Understanding (MoU) for cooperation to effectively address the projected need for light water reactors (LWR) in India and internationally. LWR technology is in use in over 60% of civil nuclear power plants operating worldwide. The two companies have agreed to collaborate on areas, including nuclear instrumentation and controls, engineered products and systems, reactor components, engineering services, in-service reactor support and waste management. The cooperation with L&T for instrumentation and controls will form the first operational phase of this relationship to bridge the gap in the existing supply chain in support of India's ambitious new build program. The agreement between Rolls-Royce and L&T follows the recent bilateral Civil Nuclear Cooperation Declaration by the Indian and UK Governments, which enables UK and Indian industries to engage in civil nuclear commerce. Avantha Power plans to raise up to Rs12.5bn via IPO Avantha Power & Infrastructure Ltd. has sought the approval of capital market regulator SEBI to raise up to Rs12.5bn in an initial public offer (IPO). The reports state that Avantha Power (formerly BILT Power Ltd.), part of the Gautam Thapar group, may raise up to Rs3bn selling 65mn shares to investors before the IPO. Enam Securities, Axis Bank, Citigroup Global Markets India and Kotak Mahindra Capital Co. will manage the Avantha Power IPO. With 191 mw of operational thermal power capacity, APIL has 2,400 mw of generating capacity under various stages of implementation and 1,320 mw of generating capacity under planning spread across India. Avantha Power has four captive thermal power plants (CPPs). These plants are located in Bhigwan, Ballarpur (both in Maharashtra),
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Yamunanagar (Haryana) and Sewa (Orissa). Two independent power producer plants (IPPs) of capacity 600 mw each are being set up at Seoni, Madhya Pradesh and Raigarh, Chhattisgarh. Agreements for doubling the capacities at each of these locations have already been signed. All the CPPs and planned IPPs are thermal coal based. Adani to buy Linc Energy's Galilee coal asset Australia's Linc Energy said that it would sell its Galilee coal tenement to Adani Enterprises in a cash plus royalty deal worth approximately A$2.7bn. Linc, whose primary business is underground coal gasification, will receive A$500mn in cash and A$2 per tons in royalty for the first 20 years of coal production from the mine, Linc CEO Peter Bond was quoted as saying. Adani has already obtained approval from both the Australia's Foreign Investment Review Board (FIRB) for the Galilee acquisition, and indicative approval for the transfer of the coal tenement from the Queensland State Government. The deal would help Adani as it works towards increasing its power-generation capacity. Adani Power, 70% owned by Adani Enterprises, has four thermal power plants under various stages of development and planning with a combined planned capacity of 9,900 megawatts. India is estimated to face a coal shortage of 52 million tons in the year ending March 31, 2011, and power utilities have been asked to import 35 million tons of the fuel to bridge the deficit. Adani secures coal purchase rights in Indonesia Adani Enterprises Ltd., through its step-down Indonesian subsidiary, PT Adani Global, has entered into a binding Tripartite Agreement for setting up a dedicated "Rail and Port Project" with the Regional Government of Sumatra Selatan, Indonesia and PT Iiukit Asarn, a Government of Indonesia Coal Mining Company. PT Bukit Asam is one of the leading producers of Coal in Indonesia, and owns second largest coal reserves in Indonesia. This Project provides "Coal Purchase Rights" to Adani and the infrastructure created will be used for transportation of a minimum volume of 35 million metric tonnes per annum (MMTPA) of coal on a "take or pay" basis from PT Bukit Asam concessions in South Sumatra. The Concession is initially valid for a maximum period of 30 years, which can be extended by mutual agreement. Areva T&D announces open offer for Indian arm A consortium comprising Alstom Holdings, Schneider Electric Industries SAS, Schneider Electric India, Areva T&D Holding SA and Areva T&D SAS announced an open offer to acquire up to 47,821,327 shares, constituting 20% of the issued share capital of Areva T&D India. The Offer is being made at a price of Rs 295.34 for each Share to be paid in cash in accordance with the SEBI (SAST) Regulations. The offer will open on July 22, and will close on August 10. DSP Merill Lynch is the Manager to the Offer. Areva T&D Holding SA and other group companies, including Areva T&D SAS and Long & Crawford Ltd. together already hold 72.18% in Areva T&D. The offer comes after Areva SA agreed to
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sell its entire equity in Areva T&D Holding SA, its global electric transmission and distribution business, to a consortium of Alstom Holdings and Schneider group of companies for 2.29 billion euros in January. Engineers India sets FPO price at Rs290 The Government set the issue price of Engineers India's follow-on public offer (FPO) at Rs 290 per share - the upper end of the price band. A discount of 5% will be given to retail bidders and to employees. The public issue, which was oversubscribed 13 times, will fetch Rs9.5bn for the Government. The offer was open between July 27 and July 30. The state-run engineering consultancy had fixed the price range of its 3.36 crore shares of Rs 5 each at Rs 270-290 a piece. The allotment will be done by August 6 and these shares will be listed by August 16. The Rs9.77bn FPO had received an overwhelming demand from all market participants, including retail investors, making it one of the best divestment offers by the Government so far this fiscal. In the portion reserved for institutional buyers, the FPO was subscribed 23.43 times. The Government, which holds a little over 90% cent in EIL, sold 10% stake through the FPO. ABB shares surge on parent's open offer Shares of ABB India surged after its Swedish parent made a voluntary open offer to increase its shareholding in the Indian arm to 75%. ABB offered US$965mn (785mn) to increase its stake in its Indian subsidiary from the current 52%. The stock closed the week at Rs827 after being as high as Rs880 on May 21. ABB Asea Brown Boveri Ltd. and ABB Ltd. proposed to acquire up to 48,510,997 fully paid up equity shares of the Target Company, constituting 22.89% of the Voting Share Capital at a price of Rs900 per equity share. The offer will open on July 8 and will close on July 27. ABB's Indian operation is among the group's biggest subsidiaries, with more than 6,000 employees, sales of Rs63bn and pre tax profits of Rs5.3bn last year. Muted debut for SJVNL; Jaypee Infra falls below issue price State-run hydro power generation company SJVNL lost about 4% on its debut and closed at Rs25 on the BSE after kicking off its maiden trading journey at Rs28. The stock hit a high of Rs28 on May 20 and a low of Rs24.10 on May 21. The company had priced its IPO at the top end of the Rs23-26 price band following strong response to the issue. A discount of Rs1.30 per share was given to retail investors and employees. The SJVNL IPO was subscribed 6.64 times, kick starting the government's divestment programme for FY11 on a positive note. The QIB portion was bid 9.02 times, while the HNI segment was bid 3.38 times and retail investors segment was subscribed 3.11 times. The central government offered 41.50 crore of SJVNL, formerly Satluj Jal Vidyut Nigam Ltd., for sale through the IPO. With the successful completion of the IPO, the Centre's stake has declined to 64.47% from 74.5%. The Himachal Pradesh (HP) state government holds 25.5% stake in SJVN. the company
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reported a net profit of Rs7.75bn on net sales of Rs14.23bn for nine months ended December 2009. Shares of Jaypee Infratech Ltd. fell on listing amid a weak market and closed well below the issue price of Rs102 per share on the BSE. The stock opened at Rs93, touched a high of Rs98.50 and a low of Rs90 before shutting shop at Rs91. Set up as a special purpose vehicle for the Yamuna Expressway, Jaypee Infratech had raised Rs22.5bn from the initial public offering (IPO) between April 29 and May 4. The 165 km, six-lane Yamuna Expressway will connect Noida and Agra, in Uttar Pradesh. The company currently has debt of Rs40.44bn. Jaypee Infra had priced its IPO in the band of Rs102-117 per share following lukewarm response, with retail investors getting a discount 5% on allotment. The issue was subscribed 1.24 times, with 27.39 crore shares bid against 22.17 crore shares on offer. The IPO comprised fresh issue of equity shares and an offer for sale of 6 crore shares by parent Jaiprakash Associates. Govt mulling Rs500bn infrastructure fund: reports The Government will set up a US$11bn infrastructure fund to upgrade the country's creaking infrastructure, refinance high cost debt and develop the debt market by issuing more long-term paper, deputy chief of the planning commission Montek Singh Ahluwalia was quoted as saying. India is planning to set up a Rs500bn debt fund to build ports, roads and bridges needed to drive economic growth. "The modalities are being worked out," Ahluwalia was quoted as saying. "The idea is to refinance lending institutions. We are talking to the World Bank and other multilateral agencies." Ahluwalia said in a report in March that India may need as much as US$1 trillion in such investment between 2012 and 2017. The fund is the latest attempt by the Government to raise capital from overseas after a US$5bn fund planned in 2007 with Citigroup and Blackstone was shelved. "Of course, the idea is to refinance high cost debt, develop the bond markets, and some money will be raised by issuing bonds," B.K. Chaturvedi, member of the Planning Commission was quoted as saying. The fund will need the clearance of the Union Cabinet before it becomes operational in the current fiscal year, he added. India spent 6.5% of GDP in 2009 on infrastructure, compared with about 11% by China, according to an Ernst & Young India report. Indias per capita spending on city development is US$17 each year, just 15% of what China spends, according to a report released by McKinsey & Co. last month. Jaypee Infratech IPO sails through on QIB strength The IPO of Jaypee Infratech was subscribed 1.24 times, as per the NSE web site. The issue closed on May 4. The company received bids for 27.39 crore shares compared with 22.17 crore shares on offer, according to the NSE data. The qualified institutional buyers' (QIB) portion was bid 1.77 times. The non-institutional investors (NII) segment was subscribed 1.15 times. The retail investors segment was subscribed 0.61 times. The price band for the IPO was Rs102-117 per share. Retail investors will be
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allotted shares at a discount of up to 5% to the issue price that will be determined as per the bookbuilding route. The IPO was a combination of fresh issue of equity shares aggregating up to Rs16.5bn and an offer for sale of 60mn equity shares by Jaiprakash Associates Ltd. Jaypee Infratech is engaged in the development of the 165-kilometer Yamuna Expressway (access controlled concrete pavement expressway) connecting Greater Noida and Agra. The project which includes development of 5 integrated townships along the expressway is scheduled to be completed by 2011. Jaypee Infratech registered net profit of Rs3.99bn on net sales of Rs5.25bn for nine months ended December 2009. India and France ink nuclear pact India and France signed an agreement to build two nuclear power plants in India, as the two nations sought to enhance their bilateral trade and economic ties. The agreement was signed between the Department of Atomic Energy (DAE) and France's atomic energy commission (CEA) for cooperation in the field of nuclear science and technology. Areva SA, one of France's main nuclear power companies, will build two European pressurized reactors of 1,650 megawatts (MW) each at Jaitapur in Maharashtra. The agreement, valued at about US$9bn, was signed in the presence of French President Nicolas Sarkozy and Indian Prime Minister Dr. Manmohan Singh in New Delhi. The French President had come on a four-day visit to India. Sarkozy, who arrived on Dec. 4, is accompanied by his defense, foreign and finance ministers and nearly 60 business leaders. A2Z Maintenance IPO subscribed 0.93 times The IPO of A2Z Maintenance & Engineering Services Ltd. was subscribed 0.93 times on the last day. The total bids received were 17,094,375 shares as against issue size of 18,293,253 shares. As at the end of Dec. 9, the QIB portion was subscribed 0.12 times and Non-institutional portion was subscribed 4.25 times. The retail portion was subscribed 0.04 times. The company entered the capital market on 8 December. The price band had been fixed at Rs400-410 per share. The issue comprises a fresh issue of equity shares of Rs 10 each at the issue price aggregating Rs 6750mn by the company and an offer for sale of 4556,193 equity shares of Rs 10 each at the issue price by the selling shareholders. A discount of 5% to the Issue Price shall be offered to the employees at the time of allotment. The book running lead managers to the issue are IDFC Capital, DSP Merrill Lynch, and SBI Capital Markets. Billionaire investor Rakesh Jhunjhunwala has 21% stake in A2Z Maintenance & Engineering Services. Post IPO, Jhunjhunwala's stake would go to 16%. The IPO of Ravi Kumar Distilleries Ltd. was subscribed 1.91 times. The total bids received stood at 21,926,900 shares as against the issue size of 11,500,000 shares. GMR Infra to divest 50% stake in InterGen GMR Infrastructure entered into agreement to divest 50% stake in InterGen to Chinese electricity
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company Huaneng Power for US$1.23bn. The transaction is expected to close in the first half of 2011. InterGen is a global power generation company, with power plants located in UK, the Netherlands, Mexico, the Philippines and Australia, with a total gross operational capacity of 8,146 MW. GMR Infra had acquired 50% stake in October 2008, for an equity value of US$1.14bn. GMR Infra also paid about US$130mn to service the debt and received a dividend of US$32mn. The proceeds from the sale, therefore, just about result in a break-even on the investment. Given the high debt position of the firm, this is certainly a positive development and its share price reacted accordingly, rising 5.3% to Rs46 per share in Monday's trading session. Commenting on the transaction, GM Rao Chairman, GMR Group said, "The decision to divest our 50% stake in Intergen is in line with the strategy to focus more on Indian market where GMR is already a market leader. This divestment will enable GMR Group to deploy further capital and release substantial management bandwith to focus on its Indian investments." Tata Power to raise US$300mn via stake sale in 2 SPVs Tata Power Company (TPC) will raise US$300mn (Rs13.9bn) from private equity fund Olympus Capital, by selling 14-15% stake in its two special purpose vehicles (SPVs) that own 30% in KPC and Arutmin, which own the Bumi Resources coal mines in Indonesia. The stake sale is to clear current debt of US$675mn (Rs31.33bn), which Tata Power raised to buy stake in the mines in June 2007 for US$1.23bn (Rs56.9bn), and to fund additional acquisitions. It has to repay a short-term loan of US$70mn (Rs3.25bn) in July, part of the debt taken for the Indonesian acquisition. TPC has signed an agreement to raise US$300mn in Bhira Investments Ltd. and Bhivpuri Investments Ltd. Coal SPVs through shares, with differential rights to be issued to Olympus Capital Holdings Asia. "This long-term, flexible financing enhances our ability to achieve our strategic goals of securing sustainable sources of supply for our rapidly growing power generation base," said Prasad Menon, MD of Tata Power. He said that TPC would try to expand this strategic partnership with Olympus into other areas of common interest, given their on-the-ground presence through Asia and expertise in the energy and power sector. Olympus had approached Tata Power with this transaction idea last year, said S Ramakrishnan, executive director, TPC. Blackstone to buy 12.5% in Monnet Power The Blackstone Group has announced that it will be investing Rs2750mn (about US$60mn) for 12.5% equity stake in Monnet Power Co. Ltd. (MPCL), an independent power producer. MPCL is developing a 1,050 MW coal fired power plant in Orissa backed by pit-head captive coal mines, and has a pipeline of a further 2000 MW under development. MPCL is a 100% subsidiary of Monnet Ispat & Energy Ltd., which is Indias second largest manufacturer of integrated coal-based sponge iron. GMR Infra bags Male airport project
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GMR Infrastructure Ltd announced that it has won the bid to build, operate, modernise and expand the Male International Airport (MIA). The Male airport is the gateway to Maldives. It is situated on the Huhule Island and considered a boutique airport. A press statement from GMR said that other bidders for the project were Aeroport De Paris-TAV consortium and Zurich Airport-GVK consortium. The consortium partner for GMR is Malaysia Airports Holdings Berhad. The international bidding process was monitored by IFC, Washington. The mandate is for the next 25 years and it includes building a sea-plane port as well. This is the second airport that GMR has taken up in Maldives. It had previously bagged the modernisation and operation contract of the Hanimaadhoo airport situated in the northern islands. Reliance Power to acquire 2 coal companies in Indonesia Reliance Power Ltd. announced that the company's wholly owned subsidiary, Reliance Coal Resources Ltd., has entered into Share Purchase Agreements to acquire the entire share capital of two coal companies in Indonesia. These two Indonesian companies own three coal mines in, Indonesia. The coal from these mines will be used in the Krishnapatnam Ultra Mega Power Project and other power projects of the group. Reliance Coal Resources will make an upfront payment of Rs5bn (US$106mn) for acquiring the mines. The balance payment will be paid in a staggered fashion depending on the mines meeting certain production targets. If all production-linked targets are met, the total value of the deal will be US$1.6bn. JSW Energy may buy 70% in Osho Venture FZCO JSW Energy Ltd. signed a Memorandum of Understanding (MOU) with Osho Venture FZCO, Dubai (Osho) and Indian Ocean Mining (Pty) Limited, South Africa (IOM) with an intention to acquire 70% equity interest in IOM from Osho. IOM has certain coal prospecting rights in North West region of South Africa. The MOU is part of the strategy to enhance fuel security for which the company is continuously evaluating various strategies and proposals to secure long term imported coat linkages. The MOU is subject to JSW Energy carrying out due diligence, execution of definitive agreements and compliance with regulatory requirements. IL&FS Milestone to acquire 74% in 247 HCC Park IL&FS Milestone Realty Advisors, a joint venture between Milestone Capital Advisors Pvt. Ltd. and IL&FS Investment Managers Ltd. announced a landmark investment. Real estate fund IL&FS Milestone Fund would acquire 74% stake in 247 HCC Park, a 1.8 million sq. ft. commercial property located in Vikhroli, Mumbai making it the largest investment by a REIT structured fund in India till date. The fund has entered into a definite agreement with the affiliate company of the HCC Group to buy this stake pending legal and statutory requirements. Valued at around Rs7.75bn, the property is one of
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the most prominent commercial properties in Mumbai, 247 HCC Park is strategically located on LBS Marg, Vikhroli, making it a great asset for future appreciation. The area under investment stands at around 11 lakh sq. ft. Being Indias largest standalone LEED certified Gold rated building, the property is very efficiently designed with very high end building management systems, allowing for very efficient common area maintenance and low maintenance costs. NTPC to acquire Australian coal mine NTPC plans to buy controlling interest in a 720mn tons coal field in Australia in a deal valued at US$11.5bn. The deal will help the company to increase about 3,500mw of power capacity. The coal mines, located near Perth in western Australia, will allow NTPC to import up to 10mn tons of coal annually for its plants. The debt-ridden promoters (of the Australian project) may sell the 416 mw power project along with its captive coal mine separately from the virgin coal field. NTPC is likely to participate only for the greenfield coal project that will give it access to 7-10mn tons of good-quality thermal coal. The annual production from the field could go over 12mn tons per annum. The company (NTPC) will place its bid once the mode of selloff is decided by its current owners later this month. In case the entire project is sold as one unit, NTPC would acquire the power project as well. In this case, up to 3 million tonnes of coal from the greenfield project will used for the power plant. The existing captive mine of the power plant is depleting and will exhaust in 2-3 years. Engineers India FPO subscribed over 13 times The Engineers India Ltd. FPO was subscribed 13.35 times, according to NSE data at 7:00 PM on Friday. The company received bids for 449.68mn shares as against 33.69mn shares on offer. The QIB segment was subscribed by more than 23 times and for them the issue closed on Thursday itself. Friday was the last day for Retail and Non-institutional Investors. The price band for the Engineers India FPO was fixed at Rs270-290 per share. The stock ended at Rs323. Engineers India FPO includes a 10% stake sale by the Government. Retail investors will get a 5% discount on the issue price, which will be discovered through the 100% book building process. The Government holds 90.4% stake in EIL, which provides design and engineering services for petroleum, power and fertiliser companies. Post FPO, the Centre's stake in EIL will fall to 80.4%. ICICI Securities, HSBC Securities, IDFC Capital and SBI Capital are the book-running lead manager for the FPO. Technofab Engineering shares jump on debut Shares of Technofab Engineering Ltd. (TEL) jumped in their debut on bourses after its initial public offering (IPO) received a good response from all category of investors. The stock ended the day at Rs295.65 on the BSE compared to the issue price of Rs240 a share. It had earlier been as high as Rs307 after opening at Rs265. On the NSE, it shut shop at Rs296 after touching a high of Rs307.80.
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TEL specialises in engineering, procurement and construction (EPC) services. It had fixed a price band of Rs230-240 for its IPO, which raised close to Rs720mn. The issue was subscribed 12.78 times. A major participation was seen from the Non-institutional Investors, or HNIs. Their reserved portion got subscribed by a whopping 48.85 times. The QIB and Retail portions saw subscription to the tune of 4.28 times and 10.03 times, respectively. Employee's reserved portion was fully subscribed. The company is engaged in the business of providing Engineering Procurement and Construction (EPC) services, and executing a wide range of Balance-of-Plant (BoP) and electro-mechanical projects on a complete turnkey basis. The funds raised from the IPO will be used to meet the company's long-term working capital requirement and to finance procurement of construction equipment. The fund raised will also finance setting up of maintenance and storage facilities for construction equipment besides setting up of a training centre for employees. Collins Stewart Inga was the sole book running lead manager to the issue and Link Intime India was the registrar to the issue. RelPower achieves financial closure for Krishnapatnam UMPP Reliance Power Ltd., part of the Anil Dhirubhai Ambani Group (ADAG), achieved financial closure for its Krishnapatnam ultra-mega power project (UMPP) in Andhra Pradesh. Reliance Power said that the estimated cost of the project is Rs175bn. IDBI Bank was the lead arranger of the Rs131.25bn debt with Power Finance Corp acting as joint lead arranger. A consortium of over 15 banks and financial institutions are participating in the financing arrangements. The 4,000 MW coal-fired project is being financed in 75:25 debt-equity ratio, Reliance Power said. The project will supply power at a competitive levelised tariff of Rs2.33 per kilo-Watt-hour (or unit) to the four states - Andhra Pradesh (1,600 MW), Maharashtra (800 MW), Tamil Nadu (800 MW) and Karnataka (800 MW). "With the financial closure for the Krishnapatnam UMPP, we have completed the financing arrangements for two UMPPs awarded to us by the Government and have secured funding for a capacity of 10,000 MW," CEO JP Chalasani said. The company had earlier achieved financial closure of Sasan UMPP. Reliance Power has also bagged UMPP at Tilaiya. Under current Government regulation it cannot bid for another UMPP before completing work on at least one of these projects. The Chitrangi power project in Madhya Pradesh will be fourth 4,000 MW project for Reliance Power, but it does not have a UMPP status. Jaypee Infra IPO priced at Rs102-117/share Jaypee Infratech Ltd. on Friday priced its initial public offering (IPO) of equity shares at Rs102 to Rs117 per share. The issue will open on April 29 and will close on May 4. Jaypee Infratech received an approval for its IPO from the market regulator SEBI this week. Jaypee Infra aims to raise up to Rs23.5bn (US$530mn). CARE has assigned a IPO `Grade 3` to the proposed Initial Public Offer (IPO)
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of Jaypee Infratech (JIL). CARE IPO Grade 3 indicates Average fundamentals. Jaypee Infratech is proposing a public issue of equity shares of Rs10 each and an offer for sale of 60 million equity shares of Rs10 each held by Jaiprakash Associates Ltd., through a 100% book building process. Out of the proposed public issue/offer for sale, 10% of the issue size has been reserved for allotment to the shareholders of Jaiprakash Power Ventures Ltd. (JPVL), on competitive basis. GMR Infra raises US$350mn via QIP GMR Infrastructure Ltd. raised US$315mn through issue of shares to foreign investors. Bangalorebased GMR received good interest and the company raised the offering size from an initially planned US$250mn, according to reports. Foreign investors bought 88% of the QIP, with half of the total demand coming from Europe and the remaining from Asia, reports added. GMR opened the sale on April 15 and said the proceeds would be used for capital expenditure and for acquisitions. The floor price for the QIP was Rs62.20, a discount of 2.5% to the close on April 15. Bank of America-Merrill Lynch was the sole global manager for the QIP, while Axis Bank and IDBI Capital Markets were the other lead managers. Last week, an arm of GMR Infrastructure raised US$200mn when Singapore state investor Temasek Holdings bought a stake in unlisted GMR Energy. In June 2009, GMR Infrastructure had cancelled a US$500mn QIP due to poor investor demand. Separately, IVR Prime Urban Developers Ltd., a subsidiary of Hyderabad-based infrastructure major IVRCL Infrastructures & Projects Ltd., is planning to raise capital through qualified institutional placement (QIP). The funds will be used for execution of projects and working capital requirements. IVRCL has recently raised Rs630mn by selling two separate land properties in Pune and Chennai. Welspun India Ltd. launched a QIP to raise up to Rs1.5bn. The shares will be sold at Rs97.50 apiece, a discount of 14.6% to the close on April 12 of Rs114.20. Motilal Oswal Financial Services was the sole arranger to the issue. Kalpataru Power raises US$101mn via QIP Kalpataru Power Transmission raised US$101mn by selling shares to institutions at Rs1,074.20 per share. The company initially planned to raise US$80mn, with potential upside for another US$30mn. Kalpataru is one of the largest makers of transmission line towers in India, and competes for contracts with firms such as KEC International and Larsen & Toubro. Earlier this year, its board had approved raising up to US$125mn through a sale of shares. The proceeds are to be used for long-term investment in projects and expansion of manufacturing capacity. Marg Ltd. raised Rs1.07bn crore through a qualified institutions placement (QIP). The QIP, which opened on April 26 closed on April 28. Pursuant to this, the company's Board approved the issue of 56,31,648 equity shares to the QIBs at an offer price of Rs189.88 per share. Marg intends to use the
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net proceeds of QIP, amongst other things to strengthen its capital base, fund its projects, working capital and other developmental purposes. Marg is an infrastructure and real estate development and service company. Triveni Engineering signs JV agreement with GE GE Oil & Gas, through one if its affiliates (GE Pacific Mauritius Ltd.) and Triveni Engineering & Industries Ltd. signed a joint venture (JV) agreement to design, manufacture, supply, sell and service advanced technology steam turbines in India in the above 30MW to 100MW range for power generation applications in the Indian and worldwide markets. Triveni will hold one extra share with both parties having equal representation on the Board. GE Triveni Ltd., which will be incorporated in India and headquartered in Bangalore, will manufacture advanced technology steam turbines for both domestic customers and export to global markets. The JV, which will benefit from a full and exclusive technology transfer and on-going R&D support from GE, will use Triveni's Bangalore facility for turbine manufacturing. The transaction is expected to close in the next few months, subject to legal and regulatory approvals. GTL Infra to buy Aircel Towers for Rs84bn GTL Infrastructure announced that its Board of Directors considered and approved the purchase of tower assets from Aircel Ltd. and its group companies (Aircel / Seller) through a Special Purpose Vehicle (SPV). The company would purchase 17,500 telecom towers from Aircel. There are 21,000 active tenants on these towers. the transaction value is Rs84bn. Aircel has committed additional 20,000 sites to GTL Infrastructure over next three years. Towers will be acquired through slump sale of assets. Out of the equity funding of Rs34bn, GTL Infra will be contributing up to Rs17.5bn. The SPV has entered in to a Business Transfer Agreement / other documents with the Aircel / Sellers for acquiring the Tower Portfolio. The transaction will be consummated subject to the statutory, regulatory and lenders approvals. On completion of the transaction, GTL Infra would have deployed a capital of Rs140bn, for the development of passive telecom infrastructure in India. GTL Infra expects to fund this transaction through fresh equity of Rs34bn and the balance through debt funded by a consortium of banks syndicated by SBI Caps. Punj Lloyd bags Rs9.47bn order in Orissa Punj Lloyd Group announced that it has been mandated to execute partial Balance of Plant and Civil Work on a 2x350 MW Thermal Power Project by Ind-Barath Energy (Utkal) Ltd., in Orissa. The project, located near Sahajbahal village in Jharsuguda district of Orissa, is valued at Rs9.47bn. The scope of work for this project includes execution of partial Balance of Plant, mechanical, electrical and C & I work, along with civil and structural work. This order would be executed over the next two years. Speaking on the occasion, P. K. Gupta, Director, Punj Lloyd Ltd., said, "We are proud to work on this
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prestigious order which will consolidate our position in the Balance of Plant EPC space and also stands as a testimony to the confidence that independent Power Producers have in Punj Lloyd's capabilities." Suzlon Energy bags 21 MW order from Gujarat Alkalies Suzlon Energy Ltd., the world's third leading and India's largest wind turbine manufacturer, won a repeat order from Gujarat Alkalies & Chemicals Ltd. (GACL) to set up, operate and maintain a 21 MW wind energy project at Maliya Miyana, in the Rajkot district of Gujarat. The project will comprise of 14 units of Suzlon's S82 - 1.5 MW wind turbines. The project, GACL's third with Suzlon, is scheduled for completion and commissioning by end of March, and will capitalize on the subsequent high wind season. The power generated from this project will be wheeled for GACL's captive consumption. The project increases GACL's total wind power capacity to 83.75 MW - adding 21 MW to the 62.75 MW already operational in two wind farms in the Kutch district of Gujarat. REC FPO subscribed over 3 times Rural Electrification Corp.s (REC) FPO was subscribed by 3.1 times. The QIB section was subscribed by 5.6 times, while the Non-Institutional segment was subscribed 1.2 times and the Retail section was subscribed just 0.2 times. Foreign Institutional Investors (FII) demanded 1 time the companys FPO book. Most of the FII and MF bids were at Rs206 per share. 44% of the demand came in at Rs205/share and 30% of demand came in at Rs206/share. Reports further stated that Life Insurance Corp (LIC) and SBI may not get any allotment of shares as its bids were at Rs205/share. Global funds like HSBCs Halbis Capital, New Vernon and Morgan Stanley bid at higher prices than the local institutions. R-Infra consortium bags Rs50bn Mumbai sea-link deal The Maharashtra government decided that a consortium led by Reliance Infrastructure - a part of the Anil Dhirubhai Ambani, or ADA Group - will build a planned sea link between Worli and Haji Ali. The first part of the project, which connects the Mumbai suburb of Bandra to Worli, was built by HCC. The Maharashtra government's cabinet sub-committee on infrastructure cleared the project that had been stuck for about a year. The committee also decided to initiate the process to invite bids for Haji AliNariman Point section of the sea link. The bids for the 4.7-km leg of the Worli-Haji Ali sea link were opened on Feb. 4 last year, wherein a Reliance Infrastructure-led consortium emerged the lowest bidder, requiring a viability gap funding (VGF) of Rs13.92bn. The other bidders, comprising HCC, John Laing and Samsung, sought Rs24.66bn as VGF. ARSS infra IPO gets strong response
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The initial public offering (IPO) of ARSS Infrastructure Projects received tremendous response, as it was subscribed by 47.62 times, as per the data available on the NSE website. Non-institutional investors (HNI) were the leading subscribers in this issue. Their reserved portion got subscribed 124.5 times. The QIB portion and Retail investors portion got subscribed by 49.3 times and 18.55 times, respectively. The price band of Rs 103-crore issue was at Rs 410-450 per share. Texmo Pipes, Man Infra shine on debut Shares of Texmo Pipes surged over 50% on the listing day against the issue price of Rs90. It closed the week at Rs143. The initial public offer (IPO) of Texmo Pipes & Products closed on 19 February, with an oversubscription of 7.48 times. Texmo manufactures PVC and HDPE pipes. The company will use the proceeds for the expansion of its product range. Texmos debut performance was the third best this year after ARSS Infrastructure Ltd and Jubilant Food Works Ltd. Shares of Man Infraconstruction listed at almost 38% premium to the issue price of Rs252. It ended the week at Rs334. The companys initial public offer was subscribed 62.33 times. Man Infra provides construction services for building ports and roads, besides undertaking residential, industrial and commercial projects. IL&FS Transportation Networks' initial public offering (IPO) was subscribed 1.86 times, while that of Pradip Overseas was subscribed 2.27 times, as per data available on the NSE website. Suzlon US arm to install 728MW of renewable energy in 2010 Suzlon Wind Energy Corp., the North American subsidiary of Suzlon Energy Ltd., said that it plans to bring online 728 MW of renewable energy in the US in 2010. Suzlon Energy is the world's third-largest wind turbine group with a 12.3% global market share. Among the nine 2010 projects, 351 newly installed turbines will produce clean energy that can power as many as 220,000 homes in seven states. In addition, these projects will create more than 50 long-term wind turbine maintenance-related jobs in rural areas. During the construction and commissioning of the nine wind farms across the country, Suzlon estimates that its employees will contribute US$1.5mn to the local economies where they live and work. KSK Energy ties up for US$3.6bn funding Private sector power producer KSK Energy Ventures Ltd said that it has tied up US$3.6bn for its 3600 MW thermal power project in Central India. The company said that IFCI agreed to invest US$56mn for a 7.72% stake in the project in Chhattisgarh. Further, it noted that 27 banks and institutions have
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offered US$2.88bn in loans for the venture so far. The company said that with above arrangements entire debt and equity funds required for the project is fully tied up. Indosolar IPO got subscribed 1.55 times Indosolar Ltd.'s initial public offering (IPO) got subscribed by 1.55 times. The issue got total bids for over 190.3mn shares as against 123.1mn shares on offer, as per the data available with the National Stock Exchange. The qualified institutional buyers (QIB) category got demand for 1.4 times and high net-worth individuals (HNI) category was subscribed 1.3 times. The retail portion got subscribed 1.8 times. The company entered the capital market with its IPO priced in the range of Rs 29 to Rs 32 a piece. The offer opened on Sept. 13 and closed on Sept. 15. The Book Running Lead Manager (BRLM) was Enam Securities. Indosolar manufactures poly-crystalline solar photo-voltaic (SPV) cells from silicon wafers utilizing crystalline silicon SPV cell technology. It markets and sells products to primarily module manufacturers on a business-to-business (B2B) platform. It has established two SPV cell manufacturing lines having an aggregate annual manufacturing capacity of 160 MW. The Company plans to increase annual manufacturing capacity to about 260 MW by 2011, with one additional manufacturing line of annual manufacturing capacity of 100 MW. Govt to set up power sector fund The Government plans to set up a Rs500bn debt (US$10.7bn) fund for the power sector, Power Secretary P. Uma Shankar said. "There are thoughts of setting up a debt fund. It's at a planning stage," Uma Shankar told reporters on the sidelines of an industry event. Uma Shankar said that he doesn't expect power projects to face funding shortages. "We are working on various options," he said, without elaborating. A separate US$11bn debt fund for infrastructure has already been announced. Uma Shankar said that an investment of Rs5 trillion was required to meet a target to build 100,000 mega watt (MW) generation capacity in 2012-17. India has set ambitious goals for expanding its installed generation capacity, which currently stands at about 164 GW. It set a target to add 62 GW over five years to March 2012 and another 100 GW from April 2012 to March 2017. Private companies may add half of the power generation capacity in the five years ending March 2017. KEC International to acquire SAE Towers KEC International Ltd. announced that it has signed a definitive agreement to acquire 100% of SAE Towers Holdings LLC from an entity affiliated with ACON Investments, L.L.C., a Washington, D.C.based private equity firm, for US$95mn (excluding adjustments for working capital) on a cash free,
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debt free basis. KEC International stock ended 1% higher at Rs493.05 after hitting a high of Rs517.70 and a low of Rs492. It had opened at Rs499.20. More than three lakh shares changed hands on the counter on NSE. GTL Infra-Reliance Infrateldeal called off GTL Infrastructure Ltd. scrapped the deal to merge Reliance Communications Ltd.'s (RCOM) tower assets held in Reliance Infratel Ltd. with itself. GTL Infra's Board of Directors had earlier given an inprinciple approval for the merger of Reliance Infratel Ltd's tower assets into the Company. But, after a careful review, the Committee of Directors in their meeting held on September 6, has conveyed that the Non-Binding Term Sheet signed by both parties dated June 27, expired on August 31. Subsequently, despite efforts, both parties have neither extended the Term Sheet nor entered into any definitive transaction agreements as envisaged therein. Consequently, the process of merger as originally contemplated would not take place. RCOM said in a statement that it is in talks with other strategic and financial investors to sell a stake in Reliance Infratel Ltd. to significantly reduce the Company's debt. It declined to comment on why the deal with GTL had been called off. Adani Power slumps on adverse GERC ruling Shares of Adani Power slid after the Gujarat Electricity Regulatory Commission asked it to supply 1,000 megawatt (MW) power to Gujarat Urja Vikas Nigam at Rs2.35 per unit for 25 years. Adani Power shares closed the week at Rs133.20. Adani Power can not terminate a 1,000 MW power purchase agreement (PPA) with Gujarat Urja Vikas Nigam, GERC said in a ruling published on its website. GERC and Adani Power had signed the PPA in February 2007. However, in November 2008, Adani Power sent a notice to Gujarat Urja Vikas Nigam, seeking termination of the PPA citing its inability to execute a Fuel Supply Agreement (FSA) with Gujarat Mineral Development Corp. (GMDC). This prompted Gujarat Urja Vikas Nigam to approach the regulator for remedial action. NTPC to build power project in Bangladesh NTPC Ltd. signed a memorandum of understanding (MoU) with Bangladesh Power Development Board (BPDB) for cooperation in the power sector between the two countries and to set up a 1,320 megawatt coal-fired power plant in Khulna. Under the MoU between the two national companies, the large coal fired power plant will be set up under equal partnership. A joint venture agreement for the coal plant will be signed later and a board will be formed comprising equal members from both the countries. The Chairman and the Managing Director's position will be periodically rotated between the two nations to maintain equality. The MoU also outlines the fundamental areas of power sector cooperation. These includes NTPC's assistance in developing human resources in Bangladeshi power sector, improvement of efficiency and the scope to go for more joint ventures by the two state companies in power projects in both India and Bangladesh in the future.
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L&T divests entire stake in Kalindee India's leading engineering and construction firm Larsen and Toubro Ltd (L&T) has divested its entire stake in listed firm Kalindee Rail Nirman (Engineers) Ltd, that executes railway track, signaling and telecommunication projects on turnkey basis. After holding the stake for last two years, L&T sold its remaining 8.60% stake in Kalindee Rail on Oct. 27 through open market transactions. In a separate development, Kalindee Rail has approved the allotment of ten lakh convertible warrants to promoters and promoters group. Adani to invest Rs 100bn in Orissa coal mine Adani Enterprises Ltd. (AEL), the flagship firm of Ahmedabad-based Adani Group, has been selected as mine developer and operator (MDO) for development and operation of the Chendipada coal block in Orissa by UCM Coal Company Ltd. It plans to invest Rs 100-110bn in a 2,000 MW pit-head power project and for the development and operation of the block. This also includes the setting up of a coal washery. The block has a mining capacity of 40 million tonnes per annum (MTPA). The coal ministry had allotted the Chendipada coal block in Talcher coalfield, Orissa, with reserves of about 1,600 million tons jointly to Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL), Chhattisgarh Mineral Development Corporation Ltd. (CMDC) and Maharashtra State Power Generation Co. Ltd. (Mahagenco) for the captive mining of coal. The three formed the joint venture company UCM for the development and mining of the Chendipada coal block. The 11-12 million coal rejects from the washery will be used to fire the 2,000 MW power plant. Indosolar signs wafer supply deal with GCL-Poly Indosolar signed a wafer supply deal with GCL-Poly amounting to 815MW at a cost of approximately US$600mn over the next four years. The companies announced at a ceremony that 209 million pieces (equivalent to 815MW) of high-quality wafers would be supplied by GCL-Poly from November 2010 to December 2014. A price adjustment mechanism was also included in the contract terms. Located in Greater Noida, Uttar Pradesh, India, Indosolar has plans for its 300,000sq ft facilities, which can accommodate four production lines. The cell manufacturer is planning to increase capacity to 260MW by the end of its 2011 fiscal year. Power Grid FPO to hit market on Nov. 9 Power Grid Corporation of India said that its over Rs80bn follow-on public offer (FPO) would hit the market on November 9. "The board of directors of the company at its meeting held on October 20, 2010, have approved the red herring prospectus (RHP) for follow on offer of PowerGrid ... As per RHP approved by the board ... Opening of bid (would be) on November 9," the company said. The bid
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would close on November 11 for institutional investors and on November 12 for retail and noninstitutional bidders. The company is planning to raise 10% fresh equity, while the Government is likely to offload 10% of its 86.36% stake in PowerGrid. The Cabinet Committee on Economic Affairs gave its nod to the follow-on offer (FPO) by PowerGrid on July 22 this year. The offer comprises over 84 crore (84,17,68,246) equity shares of Rs 10 each constituting 20% of existing paid-up capital. Besides disinvestment of the Government stake, the fresh capital raising would be used for part funding investment requirement of about Rs 580bn of the PSU. The company had hit the capital market in October 2007, with its maiden public offer. The Government had divested 5% of its stake in the company at that time. Suzlon Energy to buy IDFC PE shares in SE Forge Suzlon Energy Ltd. announced that the Board of Directors of the Company at its meeting held on October 11, 2010, has consider to purchase 4,12,54,125 equity shares of Rs. 10 each held by IDFC Private Equity Fund III (IDFC PE) in SE Forge Ltd. (SEFL), a subsidiary of the Company, where the sale consideration will be discharged by the Company by an issue of fully paid-up equity shares of the Company to IDFC PE in accordance with the applicable laws and regulations. Consequently, SE Forge Limited shall become a wholly owned subsidiary of the Company. The Board has consider to issue and allot 3,19,92,582 fully paid-up equity shares of Rs. 2 each by way of a Preferential Allotment to IDFC PE for acquisition of the aforesaid 17.1% stake in SEFL at such price being not less than the price computed in accordance with the applicable laws and regulations for consideration other than cash and subject to the receipt of requisite approval from the shareholders of the Company. Post allotment of these shares, IDFC PE will hold appox.1.80% of the paid-up capital of the Company. Stunning debut for VA Tech WABAG Shares of VA Tech WABAG Ltd. rose as much as 30% on the first day of listing on Oct. 13 on the NSE after opening at Rs 1,500. The stock closed at Rs 1,704, up Rs 394 compared to the issue price of Rs 1,310. The scrip went on to touch an intra day high of Rs 1,806 and an intra day low of Rs 1,500. Total traded quantity on the counter stood at over 1.56mn shares on the NSE. The stock closed the week at Rs 1,675. The IPO of VA Tech Wabag had been subscribed 36.22 times, according to NSE's web site. The issue had opened on September 2010 and closed on September 24. The company received bids for 11.33mn shares as against 3.12mn shares. The company had fixed the price band between Rs 1230 and Rs 1310 per share. Non institutional investors (HNI) category was subscribed 100.98 times followed by retail individual investors (8.55 times) and qualified institutional buyers (36.13 times). Power Grid plans to raise Rs86bn via FPO
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PowerGrid Corporation of India Ltd. will launch its proposed follow-on public offering (FPO) in the second week of November, Chairman and MD S.K. Chaturvedi said. The public sector power transmission major aims to raise about Rs86bn through the FPO. "We plan to invest that money in our projects in the remaining period of the Eleventh Five-Year Plan and as the initial investment in the Twelfth Five-Year Plan project," Chaturvedi told reporters in New Delhi. PowerGrid has appointed ICICI Securities, SBI Capital Markets, Goldman Sachs and JP Morgan as its merchant bankers for the FPO. The Government would disinvest 10% of its stake in PowerGrid and the Company would sell another 10% fresh equity through the FPO. The PowerGrid FPO will follow an up to US$3bn initial public offering (IPO) by Coal India Ltd., which is expected to be the largest ever share sale by an Indian company. The Coal India IPO will be open from Oct. 18-21. IDFC to raise Rs64bn in FY11 Infrastructure Development Finance Company (IDFC), an infrastructure finance company, is planning to raise around R6,400 crore through infrastructure bonds and external commercial borrowings (ECBs) in 2010-11. Of the total amount, R3,400 crore will be raised through long term infrastructure bonds, public issue of which will be open for subscription from September 30 to October 18. Each of these bonds has a face value of R5,000, and an investor can get income tax rebate of up to Rs20,000 under section 80CCF. These bonds, which enjoy the highest rating of LAAA from Icra, can be bought back or redeemed after five years lock-in period or can be traded on Bombay Stock Exchange and National Stock Exchange. The proceeds of the issue will be used for infrastructure lending. Punj Lloyd signs agreement with Nuvia India Punj Lloyd Ltd. announced that PL Engineering Ltd., a Punj Lloyd Group Co., on September 29, entered into a partnering agreement with Nuvia India Pvt. Ltd, part of Nuvia, a French major providing engineering and technical support for the nuclear power sector. The partnering agreement will lead to the creation of a new joint venture company to deliver quality nuclear engineering and operational support services to the global market. The Joint Venture will focus initially on providing services to the growing Indian Nuclear sector and will later look at the global market. Nuvia has committed itself to establish a significant base in India in collaboration with the Punj Lloyd Group to offer its engineering and technical support services and range of specialist products to the global nuclear market. PL Engineering has made a strategic decision to enter the nuclear supply chain following the acceleration of the Indian nuclear programme. Indosolar slips below issue price on debut The shares of Indosolar Power Ltd. opened flat on NSE compared to the issue price but soon fell below that level, as investors shunned the stock after a disappointing IPO even as the overall market opened higher. The stock closed its maiden trading day at Rs23.40 after touching a day's high of
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Rs29.50 and a day's low of Rs22.60. It had opened at Rs29.90 as against the issue price of Rs29. Traded volume on the counter stood at 136.6mn shares on the NSE. The stock closed the week at Rs24.55. The company had entered the capital market with its IPO priced in the range of Rs. 29 to Rs.32 a piece. The offer opened on September 13 and closed on September 15. Indosolar IPO got oversubscribed 1.55 times. The issue got total bids for over 190.3mn shares as against 123.1mn shares on offer. The QIB category got demand for 1.4 times and the HNI category was subscribed 1.3 times. The retail portion got subscribed 1.8 times. The Book Running Lead Manager (BRLM) was Enam Securities. JSW Energy buys coal miner CIC Energy JSW Energyacquired the Bahamas-based coal miner and power company CIC Energy Corp. for Canadian US$422mn (Rs 18.86bn), securing supplies for its power projects in India. "The acquisition will be effected by a step down subsidiary of JSW Energy Ltd, subject to obtaining regulatory approvals and completion of confirmatory due diligence," the company said in a statement. The deal is likely to be completed by March, it added. Toronto-listed CIC has around 2.6 billion tonnes of coal reserves in the Mmamabula region of Botswana, JSW said. "The reserves have good quality thermal coal and with low sulphur that is adequate to meet all the project requirements of JSW Energy," chairman and managing director Sajjan Jindal said. JSW Energy, which listed on stock exchanges in January, has 1,430MW of generating capacity and another 2,220MW under construction, according to its website. It plans to add 11,390MW by 2016 with new power generated from plants in Chhattisgarh, Jharkhand and West Bengal. PowerGrid FPO subscribed 14.47 times The Power Grid Corporation Ltd. FPO got subscribed 14.47 times as at 5:00 p.m. of Friday, according to the NSE web site. The issue got total bids for over 12.18 billion shares as against 841,768,246 shares on offer. The issue closed on Thursday for the qualified institutional bidders (QIB) category, which a whopping subscription of 18.52 times the allotted size. For the HNI and Retail categories the FPO will close on Friday. The company entered the capital market with its FPO priced in the range of Rs 85 to Rs 90 a piece. The offer opened on Nov 9. The Book Running Lead Managers to the issue are SBI Capital Markets, Goldman Sachs India Securities, ICICI Securities and J.P. Morgan India. Post issue, the Government of India would continue to hold 69.4% of Power Grid. The company plans to raise 10% fresh equity, while the Government is likely to offload 10% of its 86.36% stake in Power Grid. Besides disinvestment of the Government stake, the fresh capital raising would be used for part funding investment requirement of about Rs 580 bn of the PSU. The PSU has already tied up 86% of the funds required for its capex plan and the remaining amount will be raised through the FPO and
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bonds issues. The company aims to augment transmission capacity to 23,400 MW in the current fiscal from 19,800 MW at present. On the transmission side, the company had been awarded Rs 70bn worth of projects. It hopes to bag projects worth Rs 140bn in FY11. Reliance Power stock up on getting US funding Shares of Reliance Power surged this week to 52-week high of Rs 191 after the ADAG company announced a US$5 bn (nearly Rs 220bn) funding from the US Export Import Bank for executing about 9,000 MW of gas-based and renewable energy projects. RPower chairman Anil Ambani and the US Ex-Im Bank president Fred Hochberg signed a memorandum of understanding (MoU) during the visit of US President Barack Obama. The agreement would make available long-term dollar loans in the next three years. RPower also said that it was procuring equipment worth about Rs 100bn from General Electric (GE) and other US companies for its power and coal mining projects. Lanco Infratech to buy Griffin Coal and Carpenter Mine Lanco Infratech Ltd., through its step down Australian subsidiary, Lanco Resources Australia Pty Ltd., concluded a binding agreement with Griffin Energy Group Pty Ltd (Administrators Appointed) and Carpenter Mine Management Holdings Pty Ltd (Administrators Appointed) to purchase 100% shares of Griffin Coal Mining Company Pty Ltd and Carpenter Mine Management Pty Ltd (Griffin Coal). Griffin coal, based out of Collie in Western Australia, owns the largest operational thermal coal mines in Western Australia. The mine currently produces over 4 mtpa of coal and can be ramped up to over 15 mpta in the near term, post development of evacuation infrastructure. The mining tenements contain over 1.1 billion tonnes of JORC compliant thermal coal resources. The mine is strategically located on the western coast of Australia, hence closer to India compared to the mines in the New South Wales and Queensland areas of Australia. Significantly, the Griffin coal mines are well connected to two ports through both rail and road. The nearest port being the port of Bunbury located at a distance of 85 kilometers from the mine. International News Obama unveils new steps to boost growth US President Barack Obama announced a slew of new economic policies aimed at shoring up growth in the world's largest economy and also to kick-start the Democratic campaign for the mid-year Congressional elections later this year. The speech was billed as a major policy address. The president formally announced three proposals the White House had hinted were coming: $50 billion in infrastructure spending; expanding and making permanent the lapsed research tax credit for business; and a measure allowing businesses to write 100% of their investment costs off their taxes through 2011. Republicans termed the economic proposals old wine in new bottle, and instead urged Obama
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to extend all of President George W. Bush's tax cuts, not just those for the middle class. But, in a speech in Cleveland, Obama restated his long-held position that, while tax cuts for the middle class should be extended, the nation cannot afford to extend cuts for the wealthiest 2% of families. "We should not hold middle class tax cuts hostage any longer," Obama said. He announced more than US$180bn in fresh spending and business tax breaks - aimed at boosting both the nation's economic recovery and to lure voters ahead of the November polls. Obama's new economic proposal included spending US$50bn in infrastructure investments and a permanent extension of R&D tax credits. The plan aims to create jobs and sustain long-term economic growth by investing federal funds in transportation infrastructure including roads, railways and runways. GDF Suez to merge global arm with International Power French power utility GDF Suez said that it will merge its international energy arm with International Power. The latter will be combined with the international operations of GDF Suez outside Europe, as well as certain assets in the UK and Turkey. The combined business will be listed on the London Stock Exchange, with current International Power shareholders controlling 30% of the company and GDF Suez holding the remaining 70%. International Power shareholders will also be entitled to a cash payment of 92 pence a share after completion through a special dividend. The GDF Suez business will be transferred to International Power with 4.4 billion euros (US$5.8bn) of debt. Vestas to cut 3,000 jobs Vestas, the worlds biggest manufacturer of wind turbines, announced 3,000 job losses because of lower-than-expected demand in Europe. The company will close four factories in its native Denmark and one in Sweden. The world's largest wind turbine manufacturer Vestas reported losses amid tight financial environment and slowing demand. Cuts in administrative posts are also expected at Vestas Randers headquarters. The latest round of cuts will cost an estimated 150mn, said Ditlev Engel, Vestas president and chief executive. To further add to the pain, shares fell for a fifth day in Copenhagen trading after rival Siemens AG won a an order with Enel Green Power to deliver machines for new European contracts. Engel said that the company is now looking to shift European manufacture to Spain, where is it cheaper to build wind turbines. GE sees strong earnings growth in 2011: report General Electric Co has reportedly said that it is expecting rising demand for heavy equipment including medical imaging devices and railroad locomotives to drive strong profit growth in 2011. GE inks US$500 million deal with Saudi Aramco: report General Electric Co inked a $500 million deal with Saudi Aramco to supply gas turbines and other
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equipment and services to expand the oil company's Shaybah gas-oil processing capabilities, according to a report. Balfour Beatty plans to launch infrastructure fund: report Balfour Beatty, Britain's market leader in big-ticket construction projects is planning to set up an $1.6bn infrastructure funds management business, according to a report. The report stated that the new fund will buy and manage assets such as toll roads and airports, where returns are typically based on usage. There are reports that the company hoped to improve its operating margin to 3.5-4% over the medium term ADB, France target Water upgrades A US$2 min technical assistance grant from the Asian Development Bank (ADB) will lay the groundwork for a project to help avert potential water and sanitation crises in the Philippine cities of Cebu and Davao. The grant is financed by the Government of France and will be administered by ADB, with the Government of the Philippines providing $200,000 equivalent. "Mismatches between supply and demand due to sharply rising populations, environmental pollution and shrinking water sources mean that without remedial action Metro Cebu in the Visayas and Davao City in Mindanao could experience a water crisis by 2015, as well as a sanitation crisis," said Paulus Van Klaveren, Water Supply and Sanitation Specialist in ADB's Southeast Asia Department. China in talks with several countries for high-speed rail China is in talks with several countries to provide funds and loans for high-speed rail and related projects across the region, according to a report. The report stated that China and Thailand are set to agree on a plan to build high-speed rail lines that will pass from Southern China through Laos to Thailand, and then to the border of Malaysia. The Thai Parliament approved the deal last month in a project likely to cost some US$27 bn, adds report. Brookfield Infra increases bid to acquire stake in Prime Infrastructure: report Brookfield Infrastructure Partners LP raised by A$42.2mn its bid to buy the 60% of Prime Infrastructure Group, according to a report. The report stated that the Prime investors will receive an additional A$0.20 a security in cash from Bermuda-based Brookfield, its biggest shareholder, to be paid as a special distribution.
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Caterpillar plans to acquire MWM Holding: report Caterpillar Inc is planning to acquire MWM Holding GmbH, a German maker of power-generation equipment, from 3i Group PLC and related investment funds for 580 mn euros ($810 million), according to a report. The report stated that the planned purchase is another move by Caterpillar to expand businesses outside its core areas of construction and mining machinery. Hitachi to partner with Johnson Controls: report Hitachi Ltd and Johnson Controls Inc will team up to produce lithium-ion batteries for use in electric cars and advanced power distribution systems,according to a report. The report stated that the demand for lithium-ion batteries is expected to grow sharply in the near future as electric cars and socalled smart grid electricity distribution systems become more widespread. ADB Trade Finance to mobilize US$1.5-2bn The Asian Development Bank (ADB) is expanding its Trade Finance Program (TFP) in Pakistan by an additional US$500mn. This could provide around US$1.5-2bn of trade finance to help the country cope with the immediate needs arising from the recent devastating floods as well as longer-term reconstruction requirements. ADB President Haruhiko Kuroda announced this additional support for Pakistan at the High-Level Ministerial Meeting on the Flood Emergency in Pakistan, held at the United Nations building in New York. KBR bags contract from Asian Development Bank: report KBR has been awarded a contract by the Asian Development Bank (ADB) to undertake the preparation for a proposed water sector project, according to a report. The report stated that KBR will prepare a national Sanitation Master Plan, a draft Land Use Plan for the Samoan capital, Apia, and a Greater Apia Integrated Water Supply, Sanitation and Drainage Master Plan. This sustainable development project will focus on providing a secure and efficient water supply and wastewater management, says report. Saudi Electricity approves US$3.92bn worth of power projects: report Saudi Electricity Co has approved the award of 14.7 bn riyals worth (US$3.92bn) of power projects, according to a report. The report stated that the award includes expansion of the Rabigh power plant and other power transmission and generation projects. The plant, Rabigh 6 would have a capacity of 2,400 megawatt (MW) to 2,800 MW, about 12-14% of the 20,000 MW the SEC plans to add through 2018, at an estimated total cost of US$80 bn, says report.
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CIC sells Morgan Stanley shares: report China Investment Corp. has sold US$70.4mn shares of Morgan Stanley to cut its ownership of the investment bank to under 10%, according to a report. Brookfield Infrastructure FFO at US$52 mn Brookfield Infrastructure's funds from operations totalled US$52 mn ($0.49 per unit) for the quarter ended June 30, 2010, compared to FFO of US$8 mn ($0.21 per unit), in 2009, according to a report. FFO per unit, on the same basis, increased by 133% over the prior year, largely as a result of the November 2009 investment in the Prime Infrastructure recapitalization,says report. The report also stated that utilities and fee for service businesses, generated strong yields, which were offset by its timber business, which, although improved in the quarter. Document INFOIN0020101231e6cv0005w
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Power Coal-mine acquisitions by India Inc rise sharply Rakhi Mazumdar 351 words 18 December 2010 The Economic Times ECTIM English (c) 2010 The Times of India Group. All rights reserved. KOLKATA: Coal mine acquisitions have risen sharply in India in the current year and are expected to rise further due to strong demand, as user companies in steel and power industries expand capacities and fuel the need for larger coal usage. However, the pace of acquisitions would be tempered by new regulations that will focus on the role of companies in mining and in developing adequate rehabilitation policies for displaced people , said people connected with the mining industry. "If we consider an economic outlook of over 9% GDP growth and look at the demand-supply position, then I would say the acquisition space will hot up," said CNI Research chairman Kishor P Ostwal. "However , a lot would depend on the new mining laws that stipulate profit sharing and how competitive foreign mining would be with respect to domestic mining," he added. According to Bloomberg data, the mining industry's capital flows to the Middle East and Africa have more than doubled to $7.7 billion this year. Most of these flows are prompted by a strong demand from Indian steel and power producing companies to own raw material assets to lower costs. Coal fuels about 80% of India's energy needs. On Wednesday, Lanco Infra announced its plans to acquire Griffin Energy, that owns thermal coal mines in western Australia. "Availability of cheaper finance is a key issue. We could be entering a phase of trading in assets from trading in coal," said Shamik Bhose, executive director of commodity, currency & interest rate futures markets at Microsec Commerze. Adani group's deal in acquiring Linc Energy's coal mines in Australia for Rs 12,600 crore in August this
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year, is the largest seen so far. While power companies such as Tata Power, Essar Power and JSW Energy have completed acquisition of assets in Indonesia and Canada abroad, a clutch of PSUs like Coal India, NTPC, NMDC, RINL and SAIL as well as other smaller and medium size companies are likely to join the fray. For Reprint Rights: timescontent.com Document ECTIM00020101217e6ci0000m
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Adani to invest $6.9 bn in developing Oz coal project 431 words 19 October 2010 Political & Business Daily HTPOLB English Copyright 2010. pbd.in NEW DELHI, Oct. 19 -- ADANI Enterprises will invest $6.9 billion in developing its recently acquired Australian coal mines, the company said today. "Adani is committed to invest $6.9 billion (about Rs 30,500 crore) in Australia for developing mine, rail and port project in its Galilee Basin coal mine in Queensland, Australia to produce up to 60 million tonnes of coal a year at its peak," it said in a statement. The acquisition is one of the largest coal mine deals by an Indian group. The company in August bought the coal mine for about Rs 12,600 crore in a cash and royalty deal. As part of the buyout deal, the group had paid Rs 2,100 crore in cash and is to make additional payment of about Rs 10,500 crore over the next 20 years in royalties to Linc on the estimated 7.8 billion tonnes of coal reserves. "We are targeting first coal by the end of 2014 and a production of between 50 and 60 MMTPA to be achieved by 2022," Executive Chairman and Founder, Adani Group, Gautam Adani said. "This investment represents the largest ever Indian investment in Australia and an important benchmark investment in low rank thermal coal assets, a segment that has previously been ignored because of inadequate logistics," he added. Meanwhile, the group''s office was opened at Brisbane today by Queensland Premier Anna Bligh, which the company said is a milestone towards its goal of mining 200 million tonnes per annum (MTPA) of coal, generating 20,000 MW of power and moving 200 million tonnes of cargo through its ports by 2020. It was also awarded preferred proponent status for developing the Dudgeon point terminal in Macay, Queensland, which gives the Adani Group the right to develop a coal terminal with an annual capacity of 30-60 million tonnes. Sources earlier said the group was in talks with Coal India Ltd (CIL) to take on board the state-owned company as a partner for developing the Australian mines. In its efforts to secure more coal deposits overseas, Adani Enterprises also entered into a $1.65 billion deal with the Indonesian government and its mining company PT Bukit Asam for setting up rail and port infrastructure there and get exclusive
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rights to source coal to India.Published by HT Syndication with permission from The Political & Business Daily. Document HTPOLB0020101111e6aj000d2
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Adani to invest $6.9 bn in developing Australian coal project 408 words 18 October 2010 The Press Trust of India Limited PRTRIN English (c) 2010 Asia Pulse Pty Limited. New Delhi, October 18, 2010 (PTI) -- Adani Enterprises will invest USD 6.9 billion in developing its recently acquired Australian coal mines, the company said today. "Adani ... is committed to invest USD 6.9 billion (about Rs 30,500 crore) in Australia for developing mine, rail and port project in its Galilee Basin coal mine in Queensland, Australia to produce up to 60 million tonnes of coal a year at its peak," it said in a statement. The acquisition is one of the largest coal mine deals by an Indian group. The company in August bought the coal mine for about Rs 12,600 crore in a cash and royalty deal. As part of the buyout deal, the group had paid Rs 2,100 crore in cash and is to make additional payment of about Rs 10,500 crore over the next 20 years in royalties to Linc on the estimated 7.8 billion tonnes of coal reserves. "We are targeting first coal by the end of 2014 and a production of between 50 and 60 MMTPA to be achieved by 2022," Executive Chairman and Founder, Adani Group, Gautam Adani said. "This investment represents the largest ever Indian investment in Australia and an important benchmark investment in low rank thermal coal assets, a segment that has previously been ignored because of inadequate logistics," he added. Meanwhile, the group's office was opened at Brisbane today by Queensland Premier Anna Bligh, which the company said is a milestone towards its goal of mining 200 million tonnes per annum (MTPA) of coal, generating 20,000 MW of power and moving 200 million tonnes of cargo through its ports by 2020. It was also awarded preferred proponent status for developing the Dudgeon point terminal in Macay, Queensland, which gives the Adani Group the right to develop a coal terminal with an annual capacity of 30-60 million tonnes.
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Sources earlier said the group was in talks with Coal India Ltd (CIL) to take on board the state-owned company as a partner for developing the Australian mines. In its efforts to secure more coal deposits overseas, Adani Enterprises also entered into a USD 1.65 billion deal with the Indonesian government and its mining company PT Bukit Asam for setting up rail and port infrastructure there and get exclusive rights to source coal to India. PTI SCV NAM MVS 10181703 Document PRTRIN0020101019e6ai0005s
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BRIEFING - ASIA MINING - OCT 14, 2010 1,053 words 14 October 2010 Asia Pulse APULSE English (c) 2010 Asia Pulse Pty Limited An executive briefing on mining for Oct 14, 2010, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities. AUST. MINER FORTESCUE METALS' SEPT. IRON ORE SHIPMENTS DIP 9% PERTH - Miner Fortescue Metals Group Ltd (ASX:FMG) has reported a nine per cent dip in iron ore shipments in the September quarter but beat its forecast for the period. The company shipped 10.08 million tonnes (Mt) of iron ore from its mines in Western Australia's Pilbara region in the three months to September 30, down from 11.04 Mt in the June quarter. MINER IVANHOE AUSTRALIA SEEKS LISTING ON TORONTO STOCK EXCHANGE PERTH - Minerals explorer Ivanhoe Australia Ltd (ASX:IVA) says it has applied for a compliance listing on Canada's Toronto Stock Exchange (TSX) to gain exposure to a wider investment audience. The company is a 62 per cent held subsidiary of Vancouver-based Ivanhoe Mines Ltd, which trades on the Toronto, New York and NASDAQ stock exchanges and is virtually a household name in North America. SMC'S ENTRY TO TAMPAKAN PJT TO FAST-TRACK DEV'T: PHILIPPINE GOVT MANILA - The entry of the Philippines' San Miguel Corp. (PSE:SMC) in the Tampakan copper-gold project in South Cotabato will fast-track the development of the US$5.9 billion mining project, Philippine government officials said Wednesday. The development of the Tampakan project was stalled due to opposition from the host local government unit citing environmental concerns. CHINA JAN-SEPT IRON ORE AND CONCENTRATE IMPORTS AT 460 MLN TONS BEIJING - China imported 460 million metric tons (tonnes) of iron ore and ore concentrate in the first nine months of this year, down 2.5 per cent year on year, according to statistics released by the
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General Administration of Custom Wednesday. Based on the figure, the iron ore and ore concentrate import in September amounted to 50 million tonnes, higher than the 44.61 million tonnes import in August. VIETNAM'S VINACOMIN DENIES COAL SUPPLY SHORTFALL HANOI - Officials from Vietnam National Coal and Mineral Group (Vinacomin) said the group was not responsible for cement producer's insufficient coal supplies. Vietnam Cement Corporation (Vicem) said last week that they did not have enough coal to continue producing cement and several plants may have to stop operating because of coal shortage. RAJASTHAN MINES & MINERALS EYES JV FOR MINERAL EXPLORATION NEW DELHI - Rajasthan State Mines & Minerals, engaged in mining of rock phosphate, lignite, limestone and gypsum, is scouting for a partner for forming a joint venture company for exploration of minerals in the desert state. The state PSU has invited expression of interest (EoI) from companies for forming a joint venture (JV) in which it will hold a majority stake for exploration and exploitation of potash deposits. INDIA ADVANCES MOIL IPO DATES; PRE-ROAD SHOWS FROM OCT 21 NEW DELHI - The Indian government is likely to advance the IPO of Manganese Ore India to November 26 to realign a series of initial offers by PSUs which will follow the mammoth share sale of Coal India, an official said. "The dates have been advanced to November 26 while realigning schedules of public offers of other companies like Power Grid (BSE:532898), Hindustan Copper (BSE:513599) etc. The pre-roadshow for MOIL would commence from October 21," a government official told PTI, on condition of anonymity. INDIA'S ADANI, CIL IN TALKS TO DEVELOP US$2.8BLN AUST COAL MINES NEW DELHI - India's Adani Group (BSE:512599) has started talks with Coal India Ltd (CIL) to take on board the state-owned company as a partner for developing the Australian mines that it recently bought in a Rs 12,600 crore (US$2.841 billion) deal. "Talks have opened up between an Adani Group firm and Coal India Ltd. Adani Group is seeking to rope in CIL for development of coal assets it recently bought in Australia for Rs 12,600 crore. There could be an equity partnership as well," a market source privy to the development said. KOMATSU RAMPING UP MINING-RELATED SALES, SUPPORT IN CHINA TOKYO - Japan's Komatsu Ltd. (TSE:6301) has set up a wholly owned unit in China to carry out sales
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and product support for mining equipment to large customers. Komatsu China Mining Ltd., which was established Sept. 2 at a capitalization of nearly 700 million yen, began operating at the start of this month, Komatsu said Wednesday. AUST. COAL EXPLORER NORTHERN ENERGY REJECTS NEW HOPE TAKEOVER SYDNEY - Australia-based coal explorer Northern Energy Corporation Ltd (ASX:NEC) has rejected an unsolicited takeover offer from miner New Hope Corporation (ASX:NHC), saying the offer materially undervalues the company. Northern Energy says New Hope's offer of A$1.50 (US$1.48) per share, which values the target at $193 million, is "highly opportunistic". AUST. MINER REX MINERALS RAISES US$84 MLN FOR EXPLORATIONS PERTH - Australia-based minerals explorer Rex Minerals Ltd (ASX:RXM) says it has raised A$85 million (US$84.04 million) via a share placement to institutional and sophisticated investors in Australia and overseas. Rex said in a statement on Wednesday that the placement was priced at $2.50 a share. SINGAPORE'S OM HOLDINGS BID FOR CONSOLIDATED MINERALS' MINE FALL PERTH - Singapore-based investment holding firm OM Holdings Ltd (ASX:OMH) says talks about a potential transaction with fellow manganese miner, Ukraine-owned Consolidated Minerals Ltd, have ended. The companies in April entered into a confidentiality agreement regarding OM Holdings seeking to acquire an interest in Consolidated Minerals' Woodie Woodie manganese mine in Western Australia's Pilbara region. MERGER OF AUST. MINERS BCD, BENDIGO FALL OUT OVER FINANCE ISSUES PERTH - Australia-based BCD Resources NL (ASX:BCO) says its planned merger with Bendigo Mining Ltd (ASX:BDG) will not proceed after the companies fell out over a potential loan default. The companies agreed in July to a merger, but Bendigo Mining on Monday threatened to terminate the tie-up unless BCD remedied a potential default under a loan agreement between the parties by close of business on Wednesday. (C) Asia Pulse Pte Ltd. CONTACT: Asia Pulse Production Centre
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Phone: (612) 9322 8634 Fax: (612) 9322 8639 http://www.asiapulse.com ASIA PULSE bl Document APULSE0020101014e6ae001js
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NW18: Summary of Stories on NW18 EquityWire - Aug 1 NW18: Summary of Stories on NW18 EquityWire - 1800 IST Mundra adds

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