23rd may, 2016

Briefing TM POST

News 1 :

Tata Motors in talks to set up car unit in Iran

Tata Motors is talking to Iran Khodro Company for a joint venture to assemble knocked down units of the petrol versions of its models, including the latest compact car Tiago, Bolt and Zest, which are powered by the company's new Revotron petrol engines, sources said here.The branding will be of Tata Motors and Iran Khodro will be just a contract manufacturer, they said, adding that Tata Motors will start assembling in Iran in less than 2 years.

23rd may, 2016

News 2 :

HDFC Bank plans to open 500 branches this fiscal

The bank has been expanding branch network consistently and this year the bank intends to open about 500 branches.About 60 per cent of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas.

23rd may, 2016

News 3 :

Nalanda Capital to raise $620 million fund, take total corpus to $1.5 billion

Former Warburg Pincus India managing director Pulak Prasad'sinvestment firm Nalanda Capital is set to raise a new fund after fiveyears.Prasad had led Warburg Pincus' investment in Bharti Airtel,which made more than six times returns of over $1.8 billion, settingthe stage for global private equity rush to India.

23rd may, 2016

News 4 :

Ruchi Soya sells stake in joint venture firm for Rs 63 crore

Ruchi Soya is a leading manufacturer of edible oils, soya food,premium table spread, vanaspati and bakery fats. It owns brandssuch as Nutrela, Mahakosh, Sunrich and Ruchi Gold. The companyhas disposed off its entire stake in the JV company at a considerationof Rs 63 crore and has entered into Termination Agreement andShare Purchase Agreement with Kagome Co and others, on May 20,2016, resulting into termination of JV arrangement with partiesthereto," it said in a BSE filing.

23rd may, 2016

News 5 :

GMR to set up an LNG terminal at Andhra's Kakinada port with a funding of Rs 471 crore

GMR Holding Pvt Ltd has proposed for development of LNG facility with capacity of 1.75 MTPA at Kakinada Deep Water Port (KDWP) berth 7 located adjacent to survey no. 317/318 The proposed LNG facility consists of the following development of necessary facility/ equipment for ship berthing and mooring, LNG unloading arms with all safety measures, LNG storage and transportation, onshore insulated cryogenic pipeline, LNG regasification facility and pipeline for connectivity to existing gas distribution grid.

23rd may, 2016

News 6 :

National Buildings Construction Corporation plans to enter into Kazakhstan, Kyrgyzstan

State-run construction firm NBCC are looking to expand its business operations offshore and have prepared plans to establish joint ventures in two countries namely Kazakhstan and Kyrgyzstan.The company is also planning to bid for two projects in Oman through its office in the Gulf nation.

23rd may, 2016

News 7 :

IL&FS to list wind energy assets as InvIT to raise Rs2,000 crore

Infrastructure Leasing and Financial Services Ltd (IL&FS), a developerand financier of public works, has initiated the process of listing itswind energy assets that fall under IL&FS Energy Development Co. Ltd(IEDCL) as an infrastructure investment trust (InvIT).They seeks to usethe capital to fund existing expansion plans and as part of capitalinfusion in the company.They were out in the market last year tryingto raise capital through an initial public offering, which did notfructify. But with the recent investment by Orix Corp. in the windenergy portfolio, the firm believes it will now be able to attractcapital from investors,

23rd may, 2016

News 8 :

ONGC faces a KG moment in Iran

India's flagship explorer Oil and Natural Gas Corporation (ONGC) isfacing a repeat of the Krishna Godavari (KG) basin fiasco in Iran, aslengthy negotiations on terms may drive it to a point where itsdiscovered gas reserves in Farzad-B field in the Persian Gulf may bedrawn out by neighbouring Saudi Arabia.ONGC alleges that 11.12 billion cubic meters of natural gas worth Rs 11,055 crore has flowed from its idling KG basin blocks in Bay of Bengal blocks to neighbouring KG-D6 fields of Reliance Industries.the same is repeating again.

23rd may, 2016

News 9 :

India needs to focus on macro stability: Raghuram Rajan

Calling for new rules of monetary policy internationally,RaghuramRajan said that while these rules are framed, India should focus onachieving macro stability, creating buffers to withstand shocks andthus reduce vulnerabilities.Here is a need to ensure macro levelstabilization, the country would have to keep inflation under controland clean up banks, he said. “This can strengthen macro levelstability.”Rajan added that macro level stability is reflected in the 7.5% growth of the country despite two successive droughts.

23rd may, 2016

News 10 :

Mobile wallet companies Paytm, MobiKwik and Oxigen diversifying to combat UPI threat

Paytm , MobiKwik and Oxigen have rebuffed PayU's comment thatthe era of mobile wallets is over, pointing to the millions of Indianswho are still unbanked and the growth of smartphones.They, however, admit that there may be no space for new entrants or smaller companies, especially with the new payments system -Unified Payments Interface (UPI) - coming in. The provision of UPI has prompted some mobile wallet players to diversify and stay ahead in a competitive market.

23rd may, 2016

News 11 :

Sumitomo likely to acquire 44% stake in Excel Crop Care

Japanese conglomerate Sumitomo is at an advanced stage of negotiations to acquire a substantial equity stake in Excel Crop Care , a Mumbai-headquartered listed company. The proposed deal could pave the way for the Japanese group to own about 44% shares of the pesticides and agrochemicals company for a total consideration ofRs 1,200-1,300 crore. Sumitomo plans to buy out stake of Excel promoters — the Shroff family — holding 24.7% equity as well as two financial investors together owning close to 19% of the shares.

23rd may, 2016