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The Indian Economy (Page 11)

jagdu IF-Dazzler
jagdu
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Posted: 25 June 2008 at 11:41am | IP Logged
The battle against inflation:
The central bank of India does not want to erode the gains made and keep the momentum on India's growth by staying positive. Economists want to keep the 10% growth that should also benefit the poor.
On June 24, it was raising it's key short term lending rate to 8.5% fro 8. Prior to June 11 that was 7.75%. The reverse repo rate is unchanged at 6%, when it borrows from other banks.
The other measure to check inflation was the cash reserves ratio banks must keep went up to 8.75%, up from 8.25 in order to make sure inflation does not go up.
Remember India is the 2nd fastest growing economy behind china. How did that happen? We consume faster, and foreigners like to Invest here. By march 31, 2008 the Indian economy grew 9%. The target is 8-8.5% in 2008.

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Posted: 26 June 2008 at 12:08pm | IP Logged
Nuclear deal is delayed.
In order for the Nuclear suppliers group and US congress to provide uranium for our plants running at under 50% capacity, an agreement should have been thrashed between India and the US by now. Given all the challenges that the Indian economy is going through now, time is running out for the deal. The US promised increased business in India and also sensitive military and civilian technologies. Till then the chronic power shortages will continue.
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Posted: 26 June 2008 at 12:18pm | IP Logged
ONGC net profit falls 2.1%
Higher expeses and depreciation charges caused the net to fall to Rs. 26.27($614.5million) billion from 26.82 billion last year. 42.34 billion Rs. was the expected profit for this quarter. ONGC had to pay a one time pay revision of Rs. 10.5 billion which affected the bottom line. Per D.K. Sarraf, CEO, last year the net profit was Rs. 4.75 billion and net sales rose 26% to 156.26 billion Rs. that was sharply lower than what the market expected for the Oil and Natural Gas Corp.

Edited by jagdu - 26 June 2008 at 12:19pm
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Posted: 27 June 2008 at 2:05pm | IP Logged
Mukesh vs. Anil Ambani
Will the brothers not be able to agree on MTN without going through legal proceedings? R. Com, which to my surprise is in my building, is Anil Ambani's and is talking with MTN. Mukesh says he has a say in the sale of R.Com. Will MTN go to the Bombay high court as a defendant? Will Reliance make a claim for exemplary damages against MTN? R.Com has asked the Bombay high court not to rule on the matter. If the court rules, then MTN does not have 4 months to wait and one assumes MTN will not wait too long to announce a deal. The crunch is Anil's 66% in relaince, which MTN will swap and Reliance will be MTN's subsidiary. Talks are continuing.
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Posted: 30 June 2008 at 11:43am | IP Logged
Suzlon Energy
The Indian company, the world's 5th largest wind turbine maker by sales are facing mounting problems. The power grid in India where Suzlon has most of it's operations runs on a power frequency of 50 Hertz, different from in other countries. Some wind turbine rotors made by Suzlon energy have cracked. The heaters on the 264 foot tower have caused electrical problems.
Suzlon, based in Pune, India, said it was commited to fixing the troubles. To date, Suzlon has disclosed only the problems with the turbine blades which it says it is spending $30 million to fix.
Founder Tulsi Tanti shot Suzlan into the top ranks of global wind manufacturers in less than a decade through cheaper rates in India and promotes green energy in many countries. 3 years ago 90% of Suzlon's sales were in India. Today international sales account for 60% and exports will jump 75% of total sales next year. About $3 million each, Mr Tanti knew the window was open so he charged like crazypricing 25% cheaper than major competitors.In it's financial year ended Mar. 31 Suzlon revenue jumped 71% to 3.19 billion. The co. remains commited to ambitious plans to double annual production capacity to 5700 megawatts by 2010, which will make it the fastest growing wind turbine manufacturer globally.
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Posted: 01 July 2008 at 1:58pm | IP Logged
Bollywood ties to Hollywood should help firms like Adlabs, UTV
A recent string of joint ventures and investments is cementing ties between the worlds most profitable moviemakers, hollywood and the world's most prolific, bollywood.Adlabs and UTV will become blockbusturs, they say.
Viacaom is joining Indian television, Sony is joining Indian pictures. The biggest emerging projects are with UTV and Reliance ADA group. Reliance may invest $500 million and join Steven Spielberg. Indain investor groups could profit more than most, because thy can use the new connection to make more money in India's booming market. Indian incomes have been climbing thanks to the 9% growth. The incomes have pushed up receipts from the domestic movie industry at an average clip of more than 15% a year.
Much of the growth in india is coming through smarter distribution. Using DVD's cable tv, internet and even mobile phones to moviegoers bollywood producers are able to generate more rupees for every film.
UTV realised it was losing a lot of money to pirated version of movies selling for less than $1. It launched the legal dvd version less than 2 months after a movie released in theaters and sells them for $10. UTV has a target of Rs. 871 for 2008 and as of today s at 759.75Rs., the profit of the co. rose 77% from a year ealier to 188 million Rs-$4.4 million.
Shares of adlabs plunged this year 7.2% as of monday to 440.05Rs., this year they have waned 68%.
India makes 100 odd movies a year at $3 billion. Hollywood just makes 600 and earn revenue in excess of $80 billion.
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Posted: 01 July 2008 at 2:09pm | IP Logged
Global shares dumped by economic storms
In addition to inflation, emerging markets like India are wrestling with the aftershocks of huge stock run ups last year.
Mumbai has dropped 34% this year and took another beating for this quarter, down 14%. Double digit inflation has spooked foreign investors who have pulled out more than $6 billion this year according to the securities exchange board of India. A year ago Indian companies trading at PE multiples of 20-25 were thought to be highly valued, now multiples of 12-15 are more common.
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Posted: 02 July 2008 at 11:36am | IP Logged
Nuclear pact with the US
Even the US nuclear pact with Russia is not going smoothly because of counterproliferations strategies. The US is trying to pass a similar deal with Russia as it is with India. The troubled Russian agreement comes as a similar nuclear-cooperation deal signed with India in 2005 appears unlikely to be passed into law before George Bush's 2nd term, largely because of legislative opposition in Ne Delhi.

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