Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
Indian corporates have raised around $11.9 billion through overseas borrowing in the first five months of 2007-08, according to the Reserve Bank of India (RBI) data on external commercial borrowings (ECB).
Old economy companies such as Hero, M&M (Tech Mahindra), Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
The potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
Those for power sector to see tussle between prior owners & new challengers
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
India Inc is either shutting loss making businesses or is hiving off allied verticals to enhance revenues.
Transparency is more than welcome, but govt should not look vindictive.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
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