Reliance submits dev plan for 8 more KG block discoveries
Reliance Industries has submitted development plan for eight more gas discoveries in its prolific eastern offshore KG-D6 block. "The discoveries are adjacent to the Dhirubhai 1 and 3 gas fields that are currently under development," said Canada's Niko Resources, which is Reliance's junior partner in KG-D6.
While Dhirubhai-1 and 3 discoveries are expected to start production by end September, it is intended that the eight satellite discoveries would be tied back to the Dhirubhai-1 and 3 facilities. Numerous other prospects have been identified in deeper water areas of the block where further upside potential would be evaluated, Niko said. Reliance is investing US $ 5.2 bn in bringing to production Dhirubhai 1 and 3 fields, with initial output pegged at 40 mn standard cubic meters per day that would double in one years time.
Of this, US $ 3.28 bn has already been invested by June 30, it said. "Fourteen of the planned 18 Phase-I wells will be tied in after start-up," it added. Reliance would also start pumping out from the MA oil field in the same block within a months time. "The field is estimated to have a peak oil production rate of 40,000 barrels per day." The company is investing USD 2.234 bn in developing the MA oil fields in the predominantly gas-rich block. Niko has 10 per cent stake in the 7,645 sq kms KG-D6 block.
Reliance is the operator with 90 per cent interest. The block was awarded to Reliance-Niko in India's first international bid round in 1999. "Development of the Dhirubhai 1 and 3 natural gas fields and the MA oil field is substantially complete and exploration is ongoing on this block," Niko said.
Reliance may export diesel to Pak
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RIL to start crude production from KG basin next month
Hyderabad, Aug. 12 With a FPSO (Floating, Production, Storage and Offloading) vessel set to stream into Kakinada from Singapore shortly , Reliance Industries Ltd is gearing up to extract crude from its Krishna Godavari basin wells by the second half of September.
This will be the first deepwater well in the country to produce crude. The FPSO managed by Aker of Norway is being built at Jurong Shipyard, Singapore, and is being leased by RIL for a three-year period.
The MA Fields in the D-6 block in the KG basin will produce about 40,000 barrels a day. The crude evacuated through pipeline grid set up will be shipped through tankers to refineries, according to RIL officials.
However, the gas produced from the KG wells will be pumped back into the wells as there is no possibility to store the gas. Meanwhile, the onshore gas processing facility at Gadimoga is nearing completion. “After the FPSO moves to Kakinada shores from Singapore, within a couple of weeks we expect production to commence from these wells. Initially, it could be about 15,000 barrels a day to be gradually ramped up to 40,000 barrels a day,” the official explained.
Asked about the gas production in the KG basin, the official said that most of the installations and pipeline work of 1,400 km from Kakinada to Bharuch had been completed barring small link-ups. The undersea equipment has been procured. It is likely that by the fourth quarter of this year, the gas wells will be ready for production.
Our Mumbai Bureau adds:
Dhirubhai-I, the floating oil production unit chartered by Reliance, has been built by converting a large tanker in Singapore .According to information reaching here from Singapore, the floating unit left Jurong yard last Wednesday and is scheduled to arrive at the eastern coast of India by Friday.
The floating oil unit is on a 10-year charter from the Norwegian company Aker and the initial contract value was $750 million. Aker will also operate and maintain the FPSO under a separate five-year contract.
Once the FPSO is anchored and connected to the oil wells, which is expected to take at least two weeks, oil production from a developed field can commence within a month, said an oil industry expert.Unlike normal tankers, which need dry-docking at least every two years, the FPSO is designed to operate for 10 years without dry-docking.
Dhirubhai-I can process 60,000 barrels of oil and 15 million cu m of gas a day and can store 1.3 million barrels of oil.The 8.86 lakh dwt tanker –S.T.Polar – was originally built in the US. The refitting at the Singapore yard is expected to extend the 25-year-old vessel’s life by 15 years.
Other top news
Two India-origin persons among Forbes top-paid young CEOs list
India's sugar exports soars to 43 LT till first week of Aug
Inflation a concern; growth should not be compromised: PM
Nepal:Reliance close to Highway deal
Insurance to touch Rs 20 bn by 2010
Insurers relax as IRDA defers MTM
Govt may allow duty free steel export
Bonanza for babus
SBI, ICICI Bank in race for rural salary accounts
Hindalco to sweeten rights with 3:7 offer
SCI to buy vessels for up to $3 bn
Tata Steel’s Vietnam deal - a good mining
Satyam rating in Gartner list
L&T consortium bags Rs 3,800-cr orders
Reliance Infratel scraps Rs6,000cr IPO
Source: ET,BL,UTVi,BS.
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15 August 2008
Sensex emerges as the best of the world indices
Sensex emerges as the best of the world indices
After suffering the ignominy of languishing among the worst-performing markets for the past few months, matters have slightly improved for India. Outlook on equities continues to remains dismal —barring the occasional surge — but Indian equities have shown better resilience than what most market watchers had expected it to. After a fall in more than a third of its value in the six months of CY2008, the Sensex has rebounded remarkably to become the best-performing index amongst major indices in the last month. Easing of crude prices has provided some relief to the bulls who have been battling a flood of negative newsflow for the past few months. The price of crude has fallen by 20% from its peak of close to $150 a barrel. This has reduced the inflationary pressures to some extent, though experts feel it is too early to celebrate.
Indian shares, one of the worst performers in the first six months of the year, is gradually regaining some of its lost ground. A return to a degree of political stability after the trust vote as well as the strengthening rupee made Sensex the outperformer in the list of major global indices. The BSE Sensex recorded a rise of 18% in the period since July 15 — the day when all global markets were at their latest bottom. Capital goods, banks and realty — the sectors most impacted in the crash propelled the resurgence. Those sectors possess a high beta — indicating a greater correlation to the benchmark index, which entails that these sectors outperform the index in good times.
Slowing crude oil prices have not yet impacted consumer inflation figures, as the US inflation rose at the fastest rate in 17 years on account of energy and food prices. Despite the pessimism, a renewed confidence in the dollar brought cheer to US markets with the Nasdaq and Dow Jones posting positive returns. The exchanges registered returns of 12% and 6%, respectively, with investors anticipating inflation to cool off as reduced oil prices find their way to the inflation index. Whilst a correction in commodity prices brought about a relief to the Indian and American markets, economies dependent on commodities crashed further. The Brazilian Stock Exchange declined as investors grew sceptical on the commodity-driven economy. Commodities account for the entire export revenue growth, allowing for increased imports without worsening the trade balance. BOVESPA, the Brazilian benchmark index, declined by a further 12% in the period since July 17 as investors developed cold feet on the largest Latin American economy.
Lower inflation figures notwithstanding as well as the euphoria over the Olympics, the Shanghai Stock Exchange recorded a further fall of 8% in the past month. Market forecasts that the high producer price inflation figures reflect consumer prices to rise in the coming months in the world’s thirdlargest economy. Other Asian markets like the Nikkei in Japan and Hangseng in Hong Kong remained stable, registering marginal increases. European markets have gained in the past month despite fears of a recession in the UK. The FTSE 100, the London Stock Exchange, surged 8% despite deterioration in economic outlook for the nation. Similarly, despite a contraction in its economy in the last quarter, German markets remained largely positive on the future. The DAX grew 6% on optimism that cooling crude and a weakening euro will boost Europe’s largest economy in the coming months.
Other Stock reports from various sources:
FIIs sell shares worth Rs 1,195 cr this week
Hindalco fixes rights issue price at Rs 96 per share
Religare assigns 'buy' to Sarda Energy & Minerals; target Rs 404
Emkay put 'buy' on Elder Pharma; target of Rs 535
Indirect tax collection up 13.5% in July
FIIs net sell Rs 574cr, DIIs net buy Rs 23cr
Public sector firms must wait till Dec
Sun clears US regulatory hurdle for Taro
Govt allows pvt PFs to invest 15% funds in stock markets
Market runs out of steam after rallying for 5 week...
Time Technoplast /Dividend Stocks
Corporation Bank /United Breweries
IIP Numbers, Panacea Biotec
Bharati Shipyard /Solar Explosives
India Strategy / Value Scanner
Source:ET,deadpresident blog.
After suffering the ignominy of languishing among the worst-performing markets for the past few months, matters have slightly improved for India. Outlook on equities continues to remains dismal —barring the occasional surge — but Indian equities have shown better resilience than what most market watchers had expected it to. After a fall in more than a third of its value in the six months of CY2008, the Sensex has rebounded remarkably to become the best-performing index amongst major indices in the last month. Easing of crude prices has provided some relief to the bulls who have been battling a flood of negative newsflow for the past few months. The price of crude has fallen by 20% from its peak of close to $150 a barrel. This has reduced the inflationary pressures to some extent, though experts feel it is too early to celebrate.
Indian shares, one of the worst performers in the first six months of the year, is gradually regaining some of its lost ground. A return to a degree of political stability after the trust vote as well as the strengthening rupee made Sensex the outperformer in the list of major global indices. The BSE Sensex recorded a rise of 18% in the period since July 15 — the day when all global markets were at their latest bottom. Capital goods, banks and realty — the sectors most impacted in the crash propelled the resurgence. Those sectors possess a high beta — indicating a greater correlation to the benchmark index, which entails that these sectors outperform the index in good times.
Slowing crude oil prices have not yet impacted consumer inflation figures, as the US inflation rose at the fastest rate in 17 years on account of energy and food prices. Despite the pessimism, a renewed confidence in the dollar brought cheer to US markets with the Nasdaq and Dow Jones posting positive returns. The exchanges registered returns of 12% and 6%, respectively, with investors anticipating inflation to cool off as reduced oil prices find their way to the inflation index. Whilst a correction in commodity prices brought about a relief to the Indian and American markets, economies dependent on commodities crashed further. The Brazilian Stock Exchange declined as investors grew sceptical on the commodity-driven economy. Commodities account for the entire export revenue growth, allowing for increased imports without worsening the trade balance. BOVESPA, the Brazilian benchmark index, declined by a further 12% in the period since July 17 as investors developed cold feet on the largest Latin American economy.
Lower inflation figures notwithstanding as well as the euphoria over the Olympics, the Shanghai Stock Exchange recorded a further fall of 8% in the past month. Market forecasts that the high producer price inflation figures reflect consumer prices to rise in the coming months in the world’s thirdlargest economy. Other Asian markets like the Nikkei in Japan and Hangseng in Hong Kong remained stable, registering marginal increases. European markets have gained in the past month despite fears of a recession in the UK. The FTSE 100, the London Stock Exchange, surged 8% despite deterioration in economic outlook for the nation. Similarly, despite a contraction in its economy in the last quarter, German markets remained largely positive on the future. The DAX grew 6% on optimism that cooling crude and a weakening euro will boost Europe’s largest economy in the coming months.
Other Stock reports from various sources:
FIIs sell shares worth Rs 1,195 cr this week
Hindalco fixes rights issue price at Rs 96 per share
Religare assigns 'buy' to Sarda Energy & Minerals; target Rs 404
Emkay put 'buy' on Elder Pharma; target of Rs 535
Indirect tax collection up 13.5% in July
FIIs net sell Rs 574cr, DIIs net buy Rs 23cr
Public sector firms must wait till Dec
Sun clears US regulatory hurdle for Taro
Govt allows pvt PFs to invest 15% funds in stock markets
Market runs out of steam after rallying for 5 week...
Time Technoplast /Dividend Stocks
Corporation Bank /United Breweries
IIP Numbers, Panacea Biotec
Bharati Shipyard /Solar Explosives
India Strategy / Value Scanner
Source:ET,deadpresident blog.
Dow's 30 titans
The 30 titans in Dow Jones' India index
August 14, 2008
Dow Jones has announced a new blue-chip index for India to track stocks that they feel are the largest and most liquid stocks traded in the country. It will be licensed, says News Corp boss Rupert Murdoch (News Corp now owns Dow Jones), to financial institutions as the basis for investment products, such as exchange-traded funds.
The index will be calculated both in terms of the dollar and the Indian rupee and will be reviewed every March.
The India Titans Index, as it has been christened, will track 30 companies. Topping the list -- and this should not come as a surprise to anyone -- is one of India's richest companies, Reliance Industries Limited.
According to the company website, one of every four investors in India is a Reliance shareholder. The company, which has more than 3 million share holders, has reported and annual turnover of $35.9 billion and a profit of $4.85 billion for the year ending March 2008.
Reliance's core competency is the oil business, but it has successfully diversified into many businesses including petroleum products, petrochemicals, textiles, plastics and the retail industry.
Reliance has been listed in Fortune's Global 500 list for the fourth year in a row; it has improved its ranking from 269 last year to 206 this year.
The company, which was launched by Dhirubai Ambani in 1966 and is now led by Chairman and CEO Mukesh Ambani, was also listed among the Top 200 companies in terms of profit and among the top 50 companies when it came to increase in revenue. It has been ranked among the 25 fastest climbers by Fortune and as one of the world's 25 most innovative companies by Business Week.
For full article:Dow's 30 titans
SOurce: Rediff
14 August 2008
Sensex extends losses, ends 369 pts down
Sensex extends losses, ends 369 pts down
It was another day in the red for bank, realty, capital goods and power stocks as participants pressed heavy sales in these sectors amid growing concerns over declining growth. Oil, auto and FMCG stocks too had a weak outing.
Metal stocks opened on a firm note but pared their gains as the session progressed. Select pharma stocks edged higher on stock specific support. Information technology stocks moved up thanks to the rupee's decline against the US dollar.
Stockometer Top gainers Worst losers
Weak US and Asian markets, a surge in crude oil prices and the market regulator SEBI's decision to refrain from altering the guidelines on FII investments through participatory notes were among the factors that contributed to the market's fall today. Also, investors appeared reluctant to pick up stocks ahead of release of inflation data and a long weekend.
While the 30 share BSE sensitive index Sensex, which nosedived to a low of 14,686.66 in late afternoon trade, ended the day with a loss of 368.94 points or 2.44% at 14,724.18, the broader 50 stock Nifty index of the National Stock Exchange settled with a loss of 98.35 points or 2.17% at 4430.70, near its intra-day low of 4421.25.
IT bellwether Infosys Technologies (3.95%) ruled firm right through the session today. Satyam Computer Services gained 1.4%. Tata Consultancy Services edged up by 0.45% while Wipro failed to retain gains and ended in the negative territory.
Tata Power (1.6%), Sterlite Industries (1.2%) and Tata Steel (0.95%) closed on a firm note. Ranbaxy Laboratories edged up marginally. Realty stock DLF went down by 8.65%. Jaiprakash Associates and Reliance Infrastructure lost around 7.75%. State Bank of India eased by 6.2%. ICICI Bank and HDFC Bank lost over 5%.
Capital goods heavyweights Larsen & Toubro (down 4.8%) and BHEL (down 4.45%) posted sharp losses. Reliance Communications slipped by 3.75%. HDFC Bank ended 3.45% down. Maruti Suzuki, ACC, Reliance Industries, Hindalco and NTPC lost 2.5% - 3%.
Hindustan Unilever, ITC, Mahindra & Mahindra, ONGC and Grasim Industries also closed with sharp losses. Tata Motors and Bharti Airtel lost around a quarter per cent each.
Punjab National Bank, Unitech, Tata Communications, Hero Honda, Ambuja Cements, Zee Entertainment, Nalco, Power Grid Corporation, Dr. Reddy's Laboratories, BPCL, Idea Cellular and ABB ended sharply lower today. HCL Technologies, Cairn India, Sun Pharmaceuticals and Cipla closed on a positive note.
As selling pressure took a toll of midcap and smallcap stocks as well, the market breadth was weak today. Out of a total of 2730 stocks traded on BSE, 1849 stocks closed weak. 811 stocks ended higher and 70 stocks closed flat.
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Other Top stories:
Windfall pay revision for Central staff
Rate sensitives drive market lower
Reliance Comm adds 1.75 million users in July
Govt nods 21% pay hike
Govt nod for 6th Pay Commission report
Impact on inflation factored in: FM
Analysts' view on wage hike
Pvt PFs can invest 15% assets in shares
3G rollout may be delayed on ministry hurdle
Facebook pips MySpace to become top social networking site
Bharti set to beat BSNL as biggest
BHEL lines up $2.5 bn investment in next 4 years
India most optimistic economy: Report
India Inc logs $27 bn fall in M&As: Report
Cabinet approves Sixth Pay Commission recommendations
Source:Sify,ET,UTV
It was another day in the red for bank, realty, capital goods and power stocks as participants pressed heavy sales in these sectors amid growing concerns over declining growth. Oil, auto and FMCG stocks too had a weak outing.
Metal stocks opened on a firm note but pared their gains as the session progressed. Select pharma stocks edged higher on stock specific support. Information technology stocks moved up thanks to the rupee's decline against the US dollar.
Stockometer Top gainers Worst losers
Weak US and Asian markets, a surge in crude oil prices and the market regulator SEBI's decision to refrain from altering the guidelines on FII investments through participatory notes were among the factors that contributed to the market's fall today. Also, investors appeared reluctant to pick up stocks ahead of release of inflation data and a long weekend.
While the 30 share BSE sensitive index Sensex, which nosedived to a low of 14,686.66 in late afternoon trade, ended the day with a loss of 368.94 points or 2.44% at 14,724.18, the broader 50 stock Nifty index of the National Stock Exchange settled with a loss of 98.35 points or 2.17% at 4430.70, near its intra-day low of 4421.25.
IT bellwether Infosys Technologies (3.95%) ruled firm right through the session today. Satyam Computer Services gained 1.4%. Tata Consultancy Services edged up by 0.45% while Wipro failed to retain gains and ended in the negative territory.
Tata Power (1.6%), Sterlite Industries (1.2%) and Tata Steel (0.95%) closed on a firm note. Ranbaxy Laboratories edged up marginally. Realty stock DLF went down by 8.65%. Jaiprakash Associates and Reliance Infrastructure lost around 7.75%. State Bank of India eased by 6.2%. ICICI Bank and HDFC Bank lost over 5%.
Capital goods heavyweights Larsen & Toubro (down 4.8%) and BHEL (down 4.45%) posted sharp losses. Reliance Communications slipped by 3.75%. HDFC Bank ended 3.45% down. Maruti Suzuki, ACC, Reliance Industries, Hindalco and NTPC lost 2.5% - 3%.
Hindustan Unilever, ITC, Mahindra & Mahindra, ONGC and Grasim Industries also closed with sharp losses. Tata Motors and Bharti Airtel lost around a quarter per cent each.
Punjab National Bank, Unitech, Tata Communications, Hero Honda, Ambuja Cements, Zee Entertainment, Nalco, Power Grid Corporation, Dr. Reddy's Laboratories, BPCL, Idea Cellular and ABB ended sharply lower today. HCL Technologies, Cairn India, Sun Pharmaceuticals and Cipla closed on a positive note.
As selling pressure took a toll of midcap and smallcap stocks as well, the market breadth was weak today. Out of a total of 2730 stocks traded on BSE, 1849 stocks closed weak. 811 stocks ended higher and 70 stocks closed flat.
---------------------------------------------
Other Top stories:
Windfall pay revision for Central staff
Rate sensitives drive market lower
Reliance Comm adds 1.75 million users in July
Govt nods 21% pay hike
Govt nod for 6th Pay Commission report
Impact on inflation factored in: FM
Analysts' view on wage hike
Pvt PFs can invest 15% assets in shares
3G rollout may be delayed on ministry hurdle
Facebook pips MySpace to become top social networking site
Bharti set to beat BSNL as biggest
BHEL lines up $2.5 bn investment in next 4 years
India most optimistic economy: Report
India Inc logs $27 bn fall in M&As: Report
Cabinet approves Sixth Pay Commission recommendations
Source:Sify,ET,UTV
Labels:
ends 369 pts down,
Sensex extends losses
Inflation soars to the high of 12.44 percent
Inflation soars to fresh 13-yr high of 12.44%
Inflation moves up to 12.44%
Showing no sign of reversing its rising graph, inflation soared to a fresh 13-year high of 12.44 per cent for the week ended August 2, on the back of rising food and fuel prices. While the index for fuel items, for instance, rose by 0.9 per cent, the index for food items was also up by 0.9 per cent. Raw rubber rose by 5 per cent and maize 4 per cent. WPI for all commodities was up by 0.3 per cent. Earlier during the day a strong wave of selling towards end of session saw the Sensex end at day’s lows.
The market was abuzz that inflation numbers would be above 12.4 per cent against media expectations of 12.16 per cent. Traders also squared off positions ahead of an extended weekend. Annual inflation based on wholesale prices crossed the 12 per cent mark during the week ended July 26, fuelled by costlier manufactured products, fuel and food items other than vegetables. Vegetable prices showed a decline of 8 per cent from the year-ago period. However food products rose by 0.1 per cent, non-food articles 0.4 per cent and textiles by 0.4 per cent. Similarly, primary articles were up 0.1 per cent and chemical and chemical products 0.5 per cent. Fuel and petroleum remained unchanged.
The RBI recently raised its key lending rate for the third time in two months, taking it to its highest in seven years to quell price pressures, dampen demand and keep inflation expectations in check. The apex bank hiked the benchmark short-term rate by 50 basis points, about 25 bps more than what the market had expected, and the cash reserve ratio, the amount of funds banks must keep on deposit with it, by 25 basis points to 9 per cent to absorb surplus cash in the banking system.
"Bringing down inflation from the current high levels and stabilising inflation expectations assume the highest priority in the stance of monetary policy,” the RBI said in its quarterly review. However, the government’s fiscal and monetary measures have so far failed to tame the rising prices, and another round of monetary tightening is feared. “Inflation may peak in November-December and slip into single-digit by March 2009. Going by the current price situation, there may be another round of monetary tightening,” said Prime Minister’s economic advisory council member Saumitra Choudhury recently. Finance ministry’s chief economic advisor Arvind Virmani, however, is cautiously optimistic. At a recent CII conference in Chennai, he said: “The uncertain oil prices make it difficult to make short-term predictions, but in the next 12 months, the inflation rate would return to normal levels of 5-6 per cent.”
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Source: ET,UTV
Inflation moves up to 12.44%
Showing no sign of reversing its rising graph, inflation soared to a fresh 13-year high of 12.44 per cent for the week ended August 2, on the back of rising food and fuel prices. While the index for fuel items, for instance, rose by 0.9 per cent, the index for food items was also up by 0.9 per cent. Raw rubber rose by 5 per cent and maize 4 per cent. WPI for all commodities was up by 0.3 per cent. Earlier during the day a strong wave of selling towards end of session saw the Sensex end at day’s lows.
The market was abuzz that inflation numbers would be above 12.4 per cent against media expectations of 12.16 per cent. Traders also squared off positions ahead of an extended weekend. Annual inflation based on wholesale prices crossed the 12 per cent mark during the week ended July 26, fuelled by costlier manufactured products, fuel and food items other than vegetables. Vegetable prices showed a decline of 8 per cent from the year-ago period. However food products rose by 0.1 per cent, non-food articles 0.4 per cent and textiles by 0.4 per cent. Similarly, primary articles were up 0.1 per cent and chemical and chemical products 0.5 per cent. Fuel and petroleum remained unchanged.
The RBI recently raised its key lending rate for the third time in two months, taking it to its highest in seven years to quell price pressures, dampen demand and keep inflation expectations in check. The apex bank hiked the benchmark short-term rate by 50 basis points, about 25 bps more than what the market had expected, and the cash reserve ratio, the amount of funds banks must keep on deposit with it, by 25 basis points to 9 per cent to absorb surplus cash in the banking system.
"Bringing down inflation from the current high levels and stabilising inflation expectations assume the highest priority in the stance of monetary policy,” the RBI said in its quarterly review. However, the government’s fiscal and monetary measures have so far failed to tame the rising prices, and another round of monetary tightening is feared. “Inflation may peak in November-December and slip into single-digit by March 2009. Going by the current price situation, there may be another round of monetary tightening,” said Prime Minister’s economic advisory council member Saumitra Choudhury recently. Finance ministry’s chief economic advisor Arvind Virmani, however, is cautiously optimistic. At a recent CII conference in Chennai, he said: “The uncertain oil prices make it difficult to make short-term predictions, but in the next 12 months, the inflation rate would return to normal levels of 5-6 per cent.”
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Source: ET,UTV
13 August 2008
VC, PE updates (Last week)
VCcircle.com
Tesco Finally Gets Indian Partner, Tata’s Trent
Oman Investment Fund, Others Invest $185M In Quippo Telecom
Russell Investments To Increase Exposure To Indian Real Estate
Why SPV Is A Preferred Route For Real Estate Investors Now
Credit Suisse PE Invests $100 Million In Hydrabad’s Indu Projects
Australia’s IPGA Buys Into Real Estate Portal RealAcres.com
Helion Ventures Invests $4 Million In HummingBird Suites
News Roundup: Pharma Co Bags $35M UNICEF Order, RPG Big On Telecom Towers
WL Ross & Goldman Sachs To Put In $100 Million In SpiceJet
Vistaar Religare Film Fund Gets SEBI Approval; Plans To Raise $50 Million
For Acumen Fund, ROI = Profits + Social Impact
SHCIL, IFCI Offload NSE Shares; Reported Valuation Of NSE $4B
Deutsche Telekom Invests $75 Million In Devas Multimedia
Govt Rejects SBI-SocGen JV Proposal For Depository Services
News Roundup: ICICI Ventures Eyeing KIMS, ONGC In Race For Marathon’s Angola Field
Last Week’s Top Stories
Anil Ambani And Spielberg Close To Signing A Deal: Report
Rajan Anandan New MD, Microsoft India; Jaspreet Bindra To Head Entertainment Div
Walt Disney Picks Up 15% Stake In UTV’s Broadcasting Arm
Capvent Readies $250-Million To Invest In First & Second Time Funds
PE Funds To Pick Up 11% Stake In Banglore’s Dynamatic Technolgies For $18M
AMP Capital Announces $750-M Asian Infra Fund; To Invest In India
News Roundup: Suzlon Eyes Shanthi Gears, BSNL Unions Reject ESOP Offer
Government To Draft New Norms For VC/PE Industry
ICICI Venture’s Mezzanine Fund Invests $10M In MAS Financial
E-Publishing Firm PreMedia Raises $4 Million From NEA IndoUS Ventures
Seedfund Is Now Targeting $50 Million Fund: Report
Publicis Buys Google’s Search Engine Marketing Business
Mumbai Angels Invests $500K In Mobile TV Company
Lighthouse Announces First Closing Of Rs 500-Crore India 2020 Fund
Fabiani’s Frontline Strategy Invests $7 Million in Krishna Saa Fabs
Voice Search Firm Ubona Gets Series A Funding From Capital18
News Analysis: Who All Will Benefit From 3G?
------------------------------------------------
IndiaPE.com
PEs buy in as realtors face a cash crunch
VC firm sets up incubation centre in India to spot fundable start-ups
Private equity lures B-schools
Ross, Goldman to invest $100m in SpiceJet
ICSA plans buyouts in US, SE Asia
Quippo Telecom to raise $185 mn
VCs continue their bargain hunt
VC in Bollywood promises directors to newer platforms
ICICI Venture eyes stake in KIMS
Direct Logistics eyes cos in N America & Europe
BoR to raise Rs 250 crore through private placement
Australian Firm To Acquire Stake In Indian Online Portal
Deutsche Tele picks up 17% stake in Devas Multimedia
EVENT ALERT: HEDGE FUNDS INVESTMENT AND RISK ANALYSIS to be held on 20-21 October 2008 in Singapore
PEs still heading to India
Source: Above sites.
Tesco Finally Gets Indian Partner, Tata’s Trent
Oman Investment Fund, Others Invest $185M In Quippo Telecom
Russell Investments To Increase Exposure To Indian Real Estate
Why SPV Is A Preferred Route For Real Estate Investors Now
Credit Suisse PE Invests $100 Million In Hydrabad’s Indu Projects
Australia’s IPGA Buys Into Real Estate Portal RealAcres.com
Helion Ventures Invests $4 Million In HummingBird Suites
News Roundup: Pharma Co Bags $35M UNICEF Order, RPG Big On Telecom Towers
WL Ross & Goldman Sachs To Put In $100 Million In SpiceJet
Vistaar Religare Film Fund Gets SEBI Approval; Plans To Raise $50 Million
For Acumen Fund, ROI = Profits + Social Impact
SHCIL, IFCI Offload NSE Shares; Reported Valuation Of NSE $4B
Deutsche Telekom Invests $75 Million In Devas Multimedia
Govt Rejects SBI-SocGen JV Proposal For Depository Services
News Roundup: ICICI Ventures Eyeing KIMS, ONGC In Race For Marathon’s Angola Field
Last Week’s Top Stories
Anil Ambani And Spielberg Close To Signing A Deal: Report
Rajan Anandan New MD, Microsoft India; Jaspreet Bindra To Head Entertainment Div
Walt Disney Picks Up 15% Stake In UTV’s Broadcasting Arm
Capvent Readies $250-Million To Invest In First & Second Time Funds
PE Funds To Pick Up 11% Stake In Banglore’s Dynamatic Technolgies For $18M
AMP Capital Announces $750-M Asian Infra Fund; To Invest In India
News Roundup: Suzlon Eyes Shanthi Gears, BSNL Unions Reject ESOP Offer
Government To Draft New Norms For VC/PE Industry
ICICI Venture’s Mezzanine Fund Invests $10M In MAS Financial
E-Publishing Firm PreMedia Raises $4 Million From NEA IndoUS Ventures
Seedfund Is Now Targeting $50 Million Fund: Report
Publicis Buys Google’s Search Engine Marketing Business
Mumbai Angels Invests $500K In Mobile TV Company
Lighthouse Announces First Closing Of Rs 500-Crore India 2020 Fund
Fabiani’s Frontline Strategy Invests $7 Million in Krishna Saa Fabs
Voice Search Firm Ubona Gets Series A Funding From Capital18
News Analysis: Who All Will Benefit From 3G?
------------------------------------------------
IndiaPE.com
PEs buy in as realtors face a cash crunch
VC firm sets up incubation centre in India to spot fundable start-ups
Private equity lures B-schools
Ross, Goldman to invest $100m in SpiceJet
ICSA plans buyouts in US, SE Asia
Quippo Telecom to raise $185 mn
VCs continue their bargain hunt
VC in Bollywood promises directors to newer platforms
ICICI Venture eyes stake in KIMS
Direct Logistics eyes cos in N America & Europe
BoR to raise Rs 250 crore through private placement
Australian Firm To Acquire Stake In Indian Online Portal
Deutsche Tele picks up 17% stake in Devas Multimedia
EVENT ALERT: HEDGE FUNDS INVESTMENT AND RISK ANALYSIS to be held on 20-21 October 2008 in Singapore
PEs still heading to India
Source: Above sites.
India's 10 prosperous cities
India's 10 prosperous cities
A study jointly conducted by the National Council of Applied Economic Research's Rajesh Shukla and Future Capital Research's Roopa Purushothaman says that on conservative estimates, 379 million people will be added to India's urban spaces over the next 40 years -- more than the entire population of the United States today.
The study also mentions which cities have India's richest households and identifies 20 key cities to track. These cities together account for just under 10 per cent of India's population, but generate 30.8 per cent of disposable income.
The cities have been put in three categories: Megacities, which are the largest cities in terms of population and overall consumer markets; Boomtowns, which stand out as the next set of big-population cities with high expenditure per household; and Niche Cities, which are smaller in terms of overall population but still hit well above their weight in spending per household.
The Megacities are -- (Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad, and Pune); the Boomtowns are -- (Surat, Kanpur, Jaipur, Lucknow, Nagpur, Bhopal, and Coimbatore); and the Niche Cities -- (Faridabad, Amritsar, Ludhiana, Chandigarh, Jalandhar).
More @ http://specials.rediff.com/money/2008/aug/11sl1.htm
Source: Rediff.com
A study jointly conducted by the National Council of Applied Economic Research's Rajesh Shukla and Future Capital Research's Roopa Purushothaman says that on conservative estimates, 379 million people will be added to India's urban spaces over the next 40 years -- more than the entire population of the United States today.
The study also mentions which cities have India's richest households and identifies 20 key cities to track. These cities together account for just under 10 per cent of India's population, but generate 30.8 per cent of disposable income.
The cities have been put in three categories: Megacities, which are the largest cities in terms of population and overall consumer markets; Boomtowns, which stand out as the next set of big-population cities with high expenditure per household; and Niche Cities, which are smaller in terms of overall population but still hit well above their weight in spending per household.
The Megacities are -- (Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad, and Pune); the Boomtowns are -- (Surat, Kanpur, Jaipur, Lucknow, Nagpur, Bhopal, and Coimbatore); and the Niche Cities -- (Faridabad, Amritsar, Ludhiana, Chandigarh, Jalandhar).
More @ http://specials.rediff.com/money/2008/aug/11sl1.htm
Source: Rediff.com
New 39 FNO stocks from Aug 21,2008
http://www.nseindia.com/content/circulars/faop11119.htm
NSE/FAOP/11119
Introduction of futures and options contracts on 39 additional individual securities
With reference to circulars no NSE/F&O/0014/2001 dated June 29, 2001, NSE/F&O/0027/2001 dated November 07, 2001, SEBI circular SMDRP/DNPD/CIR -26/2004/07/16 dated July 16, 2004, and approval received from SEBI, members are hereby notified that the following 39 additional securities will be available for trading in F&O with effect from August 21, 2008:
Sr No Symbol Security Name
1 ABGSHIP ABG SHIPYARD LTD
2 AKRUTI AKRUTI CITY LIMITED
3 ASIANPAINT ASIAN PAINTS LIMITED
4 BALAJITELE BALAJI TELEFILMS LIMITED.
5 CONCOR CONTAINER CORP OF IND LTD
6 COREPROTEC CORE PROJ. & TECH. LTD.
7 DCHL DECCAN CHRONICLE HOLD LTD
8 DISHTV DISH TV INDIA LTD.
9 EVERONN EVERONN SYSTEMS IND. LTD
10 FSL FIRSTSOURCE SOLU. LTD.
11 GSPL GUJARAT STATE PETRO LTD
12 GTLINFRA GTL INFRA.LTD
13 GVKPIL GVK POW. & INFRA LTD.
14 HCL-INSYS HCL INFOSYSTEMS LTD
15 IBREALEST INDIABULLS REAL EST. LTD
16 ICSA ICSA (INDIA) LIMITED
17 KLGSYSTEL KLG SYSTEL LTD.
18 KSOILS K S OILS LIMITED
19 MIC MIC ELECTRONICS LIMITED
20 MINDTREE MINDTREE LIMITED
21 MLL MERCATOR LINES LIMITED
22 MONNETISPA MONNET ISPAT LTD
23 MRF MRF LTD
24 NBVENTURES NAVA BHARAT VENTURES LIMI
25 NOIDATOLL NOIDA TOLL BRIDGE CO LTD
26 OPTOCIRCUI OPTO CIRCUITS (I) LTD.
27 ORBITCORP ORBIT CORP. LTD.
28 PRISMCEM PRISM CEMENTS LTD
29 PTC PTC INDIA LIMITED
30 RIIL RELIANCE INDUSTRIAL INFRASTRUCTU LTD
31 SINTEX SINTEX INDUSTRIES LTD
32 SREINTFIN SREI INFRASTRUCTURE FINAN
33 THERMAX THERMAX LTD
34 TORNTPOWER TORRENT POWER LTD
35 TV-18 TV18 INDIA LIMITED
36 UCOBANK UCO BANK
37 UTVSOF UTV SOFT. COMM. LTD.
38 VOLTAMP VOLTAMP TRANSFORMERS LTD
39 WALCHANNAG WALCHANDNAGAR INDUSTRIES
The details of market lot and list of contracts being made available for trading in the above securities will be informed to members separately through a circular on August 20, 2008.
For any clarification members are requested to contact following officials
Sachin Dhar & Janardhan Gujaran on 022-26598151, 022-26598152
-----------------------------------
These stks may get action in near term. Watch this space.
Source: NSEindia.com
NSE/FAOP/11119
Introduction of futures and options contracts on 39 additional individual securities
With reference to circulars no NSE/F&O/0014/2001 dated June 29, 2001, NSE/F&O/0027/2001 dated November 07, 2001, SEBI circular SMDRP/DNPD/CIR -26/2004/07/16 dated July 16, 2004, and approval received from SEBI, members are hereby notified that the following 39 additional securities will be available for trading in F&O with effect from August 21, 2008:
Sr No Symbol Security Name
1 ABGSHIP ABG SHIPYARD LTD
2 AKRUTI AKRUTI CITY LIMITED
3 ASIANPAINT ASIAN PAINTS LIMITED
4 BALAJITELE BALAJI TELEFILMS LIMITED.
5 CONCOR CONTAINER CORP OF IND LTD
6 COREPROTEC CORE PROJ. & TECH. LTD.
7 DCHL DECCAN CHRONICLE HOLD LTD
8 DISHTV DISH TV INDIA LTD.
9 EVERONN EVERONN SYSTEMS IND. LTD
10 FSL FIRSTSOURCE SOLU. LTD.
11 GSPL GUJARAT STATE PETRO LTD
12 GTLINFRA GTL INFRA.LTD
13 GVKPIL GVK POW. & INFRA LTD.
14 HCL-INSYS HCL INFOSYSTEMS LTD
15 IBREALEST INDIABULLS REAL EST. LTD
16 ICSA ICSA (INDIA) LIMITED
17 KLGSYSTEL KLG SYSTEL LTD.
18 KSOILS K S OILS LIMITED
19 MIC MIC ELECTRONICS LIMITED
20 MINDTREE MINDTREE LIMITED
21 MLL MERCATOR LINES LIMITED
22 MONNETISPA MONNET ISPAT LTD
23 MRF MRF LTD
24 NBVENTURES NAVA BHARAT VENTURES LIMI
25 NOIDATOLL NOIDA TOLL BRIDGE CO LTD
26 OPTOCIRCUI OPTO CIRCUITS (I) LTD.
27 ORBITCORP ORBIT CORP. LTD.
28 PRISMCEM PRISM CEMENTS LTD
29 PTC PTC INDIA LIMITED
30 RIIL RELIANCE INDUSTRIAL INFRASTRUCTU LTD
31 SINTEX SINTEX INDUSTRIES LTD
32 SREINTFIN SREI INFRASTRUCTURE FINAN
33 THERMAX THERMAX LTD
34 TORNTPOWER TORRENT POWER LTD
35 TV-18 TV18 INDIA LIMITED
36 UCOBANK UCO BANK
37 UTVSOF UTV SOFT. COMM. LTD.
38 VOLTAMP VOLTAMP TRANSFORMERS LTD
39 WALCHANNAG WALCHANDNAGAR INDUSTRIES
The details of market lot and list of contracts being made available for trading in the above securities will be informed to members separately through a circular on August 20, 2008.
For any clarification members are requested to contact following officials
Sachin Dhar & Janardhan Gujaran on 022-26598151, 022-26598152
-----------------------------------
These stks may get action in near term. Watch this space.
Source: NSEindia.com
Labels:
2008,
New 39 FNO stocks from Aug 21
P-Notes back on SEBI agenda
P-Notes back on SEBI agenda
Participatory Notes are once again on the agenda of the capital market regulator, with the Securities and Exchange Board of India (SEBI) set to begin a review of the entire “regulatory framework” governing these instruments at its board meeting on August 13.
The PN virus! SEBI announces new payment system for IPOs
The return of PNs to the agenda of the SEBI board has triggered expectations among market participants that the capital market regulator may look at easing some of the restrictions that were introduced in October 2007 as there has been a change in the economic environment and also in the market conditions.
At the time, SEBI had proposed that foreign institutional investors (FIIs) and their sub-accounts cannot issue or renew PNs with underlying as derivatives with immediate effect.
Sebi for easing financial reporting norms SEBI disgorges Rs 80.34 lakh from 33 entities
They had to unwind their current position within 18 months. The capital market regulator had also said that FIIs cannot hold over 40 per cent of assets in PNs. Official sources indicated that part of the review could include a fresh look at the 18-month deadline in view of the recent developments in the market.
“A lot of data has flowed in on PNs since October last year. This would help us in the review on August 13,” official sources said. They added that any decision on policy change was unlikely on the same day as it would be the first meeting on the subject.
FIIs are concerned that their sub-accounts have been barred from participating in futures and options. Moreover, the capital market regulator had ordered winding up of PNs issued to investors in unregulated jurisdictions.
PNs are offshore derivative instruments that allow foreign investors to invest indirectly in a country’s stock markets without disclosing their identity. The October 2007 restrictions on PNs were brought in the backdrop of copious capital flows into the country.
Ever since the curbs on PNs were announced, the FIIs had been net sellers, initially due to these restrictions and later beginning January 2008 on account of global financial turmoil following deepening of US sub-prime crisis.
“Since the start of the calendar year, it is difficult to say whether FII selling was driven by curbs on PNs or was it due to global financial turmoil. It looked to be combination of factors,” sources said.
In the meanwhile, SEBI had overhauled the entire FII regulations and also simplified the process of their registration with the regulator. Official sources said that there was no problem as such on FII registrations now and indicated that the board would not consider this subject on August 13.
However, of late, there are concerns of market business being driven out of India to places like the Singapore stock exchange, where volumes of trading on Nifty futures and options have surged in recent times. This may now compel SEBI to take measures to discourage participants to shift to alternative market places.
Source: SIfy
Participatory Notes are once again on the agenda of the capital market regulator, with the Securities and Exchange Board of India (SEBI) set to begin a review of the entire “regulatory framework” governing these instruments at its board meeting on August 13.
The PN virus! SEBI announces new payment system for IPOs
The return of PNs to the agenda of the SEBI board has triggered expectations among market participants that the capital market regulator may look at easing some of the restrictions that were introduced in October 2007 as there has been a change in the economic environment and also in the market conditions.
At the time, SEBI had proposed that foreign institutional investors (FIIs) and their sub-accounts cannot issue or renew PNs with underlying as derivatives with immediate effect.
Sebi for easing financial reporting norms SEBI disgorges Rs 80.34 lakh from 33 entities
They had to unwind their current position within 18 months. The capital market regulator had also said that FIIs cannot hold over 40 per cent of assets in PNs. Official sources indicated that part of the review could include a fresh look at the 18-month deadline in view of the recent developments in the market.
“A lot of data has flowed in on PNs since October last year. This would help us in the review on August 13,” official sources said. They added that any decision on policy change was unlikely on the same day as it would be the first meeting on the subject.
FIIs are concerned that their sub-accounts have been barred from participating in futures and options. Moreover, the capital market regulator had ordered winding up of PNs issued to investors in unregulated jurisdictions.
PNs are offshore derivative instruments that allow foreign investors to invest indirectly in a country’s stock markets without disclosing their identity. The October 2007 restrictions on PNs were brought in the backdrop of copious capital flows into the country.
Ever since the curbs on PNs were announced, the FIIs had been net sellers, initially due to these restrictions and later beginning January 2008 on account of global financial turmoil following deepening of US sub-prime crisis.
“Since the start of the calendar year, it is difficult to say whether FII selling was driven by curbs on PNs or was it due to global financial turmoil. It looked to be combination of factors,” sources said.
In the meanwhile, SEBI had overhauled the entire FII regulations and also simplified the process of their registration with the regulator. Official sources said that there was no problem as such on FII registrations now and indicated that the board would not consider this subject on August 13.
However, of late, there are concerns of market business being driven out of India to places like the Singapore stock exchange, where volumes of trading on Nifty futures and options have surged in recent times. This may now compel SEBI to take measures to discourage participants to shift to alternative market places.
Source: SIfy
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