Tata Motors, India's largest commercial vehicle maker, has postponed plans for an overseas equity issue and sale of investments to repay the $3 billion bridge loan it took in June last year to acquire the Jaguar and Land Rover brands from Ford.
The Geneva-based World Economic Forum would be playing host to 1,400 from top 1,000 companies around the world, 30 heads of states or governments, renowned academicians, artists and the faith leaders, including head of the Chinmaya Mission in New Delhi.
None of the seven consortiums shortlisted for the Maharashtra government's flagship project, the Rs 6,200-crore second phase of the Mumbai Metro, participated in the financial bids that closed on Friday. "The reason for asking more time could be the prevailing economic slowdown. They sought at least one more month to submit the bids," a Mumbai Metropolitan Region Development Authority official said.
BSE Capital Goods and FMCG indices surged between 1-2%
"We are expecting to launch the high-premium SUV 'Outlander' by this year itself in the Indian market and it would be placed between Mitsubishi's Pajero and Montero," company's Executive Vice-President Y V S Vijay Kumar told reporters here on the sidelines of HM's tie-up with Pune-based Opulent Auto Care.
Hindustan Motors will launch the Lancer Cedia on January 12, 2006.
Tata Power, the country's largest power utility, has emerged as the only Indian company among the six firms shortlisted to bid for Singapore's largest power utility, Senoko Power, which is likely to be sold at over $3 billion.
"The process (of raising the amount) is over. Tata will borrow the money from us (the banks consortium) on Monday and might come with an official announcement in the next few days," a source close to the development told PTI. Tatas had entered into a definitive agreement with Ford to buy Jaguar and Land Rover in March for $2.3 billion. The $3 billion fund raising included Tata Motor's other committements as well.
Engineering and construction major Larsen & Toubro (L&T) is planning a capital expenditure of Rs 2,500 crore (Rs 25 billion) for the financial year 2008-09. The company might raise Rs 500-700 crore (Rs 5-7 billion) through debt, equity or a debt-equity mix in the second half of the financial year.
Alibaba.com, China's biggest business-to-business website, on Tuesday said it was poised to become India 's top online marketplace by number of users as it launches its first major overseas expansion.
Media report says unfavourable excise structure, large investments are the main reasons
Apart from SBI, the consortium will include leading entities like Citibank, Standard Chartered, BNP Paribas, JP Morgan, Tokyo Mitsubishi UFJ and Mizuho Financial Group, a source closely connected to the development told PTI. The country's largest lender is also in talks with two-three public sector banks to be a part of the consortium, the source said. The company reported a loss of $12.7 billion for the fiscal ended December 30, 2006.
Once behind the wheel, the Volvo drives and feels like any other car, except that it now features another safety innovation, the City Safety System that automatically applies brakes on the car in case there is a lapse in concentration on the driver's part. This is particularly true in city traffic conditions where low speed mishaps are common. Volvo claims it helps lower the possibility of injuries to the occupants of the XC60
Despite many hiccups in project implementation, India on Sunday crossed the earlier 10th Five-Year Plan's total addition to generation capacity of 21,180 Mw.
Engineering firm Larsen and Toubro (L&T) on Friday said it has floated a power generation arm called L&T Power Development and would invest Rs 20,000 crore (Rs 200 billion) in the new company.
The Indian firms will develop the Carabobo-1 block in Venezuela's Orinoco Belt with Spain's Repsol YPF SA and Malaysia's Petroliam Nasional Bdh, ONGC said.
Vodafone-Essar, the leading GSM operator is raising around $500 million (Rs 2,000 crore) through overseas borrowing. This is the first fund raising by the telecom major after British telecom major Vodafone acquired a majority stake.
Oil and Natural Gas Corporation (ONGC), the country's leading public sector company, is planning an initial public offer of ONGC Petro-additions Limited (OPaL), the special purpose vehicle formed for the Rs 13,500 crore (Rs 135 billion) petrochemical complex at Dahej in Gujarat.
The Japanese and the French are the world leaders in high-speed train technology. While the Japanese are known for their superfast Bullet train, the French have high-speed trains under the TGV brand.
Meanwhile, cross-border M&As touched 23.8 billion dollars in 69 deals in 2007 so far.
Of the three options suggested by the consultancy firm appointed by the CPI(M) government, Nayachar was feasible since it was government land, Commerce and Industry Minister Nirupam Sen said at an all-party meeting.
Indian businessmen on the forum would also include Baba Kalyani of Bharat Forge, Sunil Kant Munjal of Hero Honda, Nandan Nilekani of Infosys, Vikram Kirloskar of Toyota Kirloskar and Deepak Parekh of HDFC.
The Torrent Group company is aiming at over 20 per cent equity in the Dahej SEZ which also has a Rs 13,500 crore (Rs 135 billion) integrated petrochemical complex coming up in south Gujarat.
The elevator industry in India today is approximately 26,000-27,000 elevators per annum. There are players like Mitsubishi, Kone, Schindler among others in the organised sector, and many regional players that constitute the elevator market.
Three major companies, Japanese giant Toshiba, Canadian major Bombardier and GE, are looking at manufacturing wagons and coaches in the country.
A M Naik, chairman and managing director of L&T, said the details, such as the size of the funds required for each of these companies and proposed dilution of the equity, were yet to be worked out.
The investments are expected to happen in the Delhi-Mumbai Industrial corridor.
The oil and gas major ONGC is likely to offload 34 per cent equity in its special purpose vehicle ONGC Petro-additions formed for the upcoming Rs 13,500-crore
TATA Group Chairman Ratan Tata and India-born steel tycoon Lakshmi Mittal will be among seven international business leaders to attend the three-day International Investment Council to be hosted by President Thabo Mbeki this weekend in South Africa.
Team MRF's Arjun Balu beat teammate Gaurav Gill by a mere six seconds in the 3km super special stage on the opening day of the Coffee Day Championship Rally.
Likely to join hands with Delhi-based ICML to launch the car next year.
The state is trying hard to improve ease of doing business by several notches.
The West Bengal government is likely to shift the chemical hub project to Haldia since it requires proximity to a port.
Excise duty cut of Rs 6,000 on big cars to be passed to customers; LCDs cheaper by Rs 3,500.
Maruti Suzuki is heading for an image makeover through its new sedan SX4, which is expected to hit the Indian roads by mid-May with a price range between Rs 700,000 and Rs 800,000.
As many as 15 multi-national firms like Nokia, Sony, Samsung and Ericsson have been found guilty of violating foreign exchange regulations and a penalty of over Rs 42 crore (Rs 420 million) has been imposed on them.
Three top global asset management and investment banks - American International Group, JP Morgan Asset Management and Japan's Mitsubishi UFJ Securities today announced their India strategy, vying for a place in the second fastest growing economy in t
If you don't mind working over weekends and like being in a two-piece suit all day long, pick the Superb. And if you have a penchant for exploring places over the weekend, look no further than the Endeavour which can also carry your gang.
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