For its Singapore trading desk, the company aims to hire a few top level executives in a few weeks. The desks in London and Houston will also recruit more executives for finding opportunities in those markets. The company has another trading desk in Dubai. An RIL spokesperson declined to comment on the expansion of trading desks.
No one is saying the steel industry is out of trouble. The financial crunch continues, and coupled with high cost of input, severely affected the first-quarter profits of steel companies. But most agree with Tata that the signals are encouraging.
European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
Global motorcycle majors find a surging response.
Under the scheme, the government provided incentives of $1,000-5,600 directly to those buyers who were willing to trade their old, gas-guzzling vehicles for new, fuel-efficient vehicles. Indian auto bigwigs, including Tata Motors and Mahindra & Mahindra, among others, through the association of the Society of Indian Automobile Manufacturers (Siam), had approached the government to implement a similar programme. However, they are yet to succeed.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
A consortium of British Gas, Oil and Natural Gas Corporation and Reliance Industries, which controls the PMT fields off the west coast, is spending about Rs 2,500 crore (Rs 25 billion) for reviving the reserve in this fiscal, while new wells are being drilled at the Cairn-operated Ravva field (off the Andhra coast) for small-sized additional discoveries. The Tapti field has witnessed 'natural decline in the production profile' during the first quarter ended June 2009.
India's biggest two-wheeler manufacturer, Hero Honda, is already predicting a certain impact by November-December.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
With both leisure and business travellers dropping Pune from their itineraries, 30 to 50 per cent of all grades of rooms in the city are vacant. This steep fall comes as double whammy for these hotels, since they were forced to pare tariffs 35 to 40 per cent owing to falling occupancies as a result of the economic slowdown.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
The US-based aircraft manufacturing giant will expand its manufacturing presence, launch subsidiaries and strengthen research and development (R&D) programmes in the country. Jeppesen, a subsidiary of Boeing, is close to setting up an office in Hyderabad, while another, Aviall, the company's spare parts subsidiary, already has operations from Noida.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
Maruti Suzuki and Hyundai Motors are expected to see overseas sales fall sharply following the recent removal of an incentive scheme.
Sterlite Industries, the flagship firm of London-listed Vedanta, may get the support of rival bidder Harbinger Capital Partners in its takeover plan for the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the bankruptcy court that its plan to restructure Asarco should not be considered.
Ore and coking coal to come from Tata mines in Canada, Africa.
The company has a debt burden of Rs 14,500 crore.
Tata Motors has sold one Jaguar and Land Rover model a day since it launched the marque brands in India just under a month ago -- on June 28. But that's enough to satisfy the company and has, in fact, come as a surprise to many market experts.
The group also has plans to spend Rs 50,000 crore (Rs 500 billion) on power generation. The London-listed giant will spend Rs 43,000 crore (Rs 430 billion) to enhance its capacity, in addition to its Rs 50,000-crore (Rs 500-billion) plan in power generation.
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