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Sectoral SnippetsIndia Industry Information
Issue 38 - December 2009
KPMG IN INDIA
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Sectoral Snippets
About Sectoral Snippets
Sectoral Snippets is an India-focused, monthly, freely-distributable newsletter brought out by
KPMG in India. This newsletter provides an overview of the Indian economy in the form of
news-briefs from across key sectors.
Contact [email protected] if you are interested in receiving this newsletter on a
regular basis, or wish to unsubscribe.
Table of Contents
1. Indian Economy 3
2. Auto and Auto Components 4
3. Banking and Financial Services 5
4. Consumer Markets and Retail 6
5. Hospitality 7
6. IT / ITeS 8
7. Media 9
8. Oil and Gas 10
9. Pharma 11
10. Power 12
11. Real Estate and SEZs 13
12. Telecom 14
13. Transport and Logistics 15
ectoral Snippets, Issue 38
2009drawstoaclose,alleyesarenowon
esustainabilityofthestimulus-supported
owthoftheIndianeconomyintheyearahead.
epastyearwitnessedsomerelativelyrobust
rformancesinindustryandservicesectors,
reasedgovernmentexpenditure,modestfarm
owth,andstronginvestments.However,rising
lation,hikedinterestratesandthestrengthof
erupeeagainsttheUSdollararealltriggers
hichcouldplayakeyroleindetermining
hetherthegovernmentplacesinflation
ntainmentoreconomicgrowthontopofits
enda,goingforward.
otherdevelopments,IndianPMManmohan
nghrecentlywrappedupavisittoRussia
ringwhichthetwocountriessignedsix
cuments,twoofwhichpertaintocivilnuclear
ddefensecooperation,furtherconsolidating
ecountriesstrategicandbilateralrelations.
stwishesthroughtheholidayseasonandfor
10.
gards,
ssell
Russell Parera
Chief Executive Officer
KPMG in India
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
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Assomepartsoftheworldreboundfromthedownturn,Indiaissaidtobeoneof
thecountriesleadingtheglobalrecoveryrally.Indiaseconomygrewby7.9
percentintheSeptemberquarter,acceleratingfromthe6.1percentrecordedintheprecedingquarter.Companiesintheregionarelikelytowitnesssignificant
improvementintheirpositionbyearlynextyear.Accordingtoanalysts,thiscan
beattributedtoaboostindomesticdemandandprivateinvestment,withthe
growthintheIndexofIndustrialProduction(IIP)expectedtocontinue.
AlargeportionofthisgrowthwasfueledbyGovernmentstimuluspackagesand
acutinkeypolicyrates.However,theReserveBankofIndiaisnowindicatinga
shifttowardsatightermonetarypolicyregimethrougharecentincreasein
statutoryliquidityratioandwindingupsomere-financingfacilities.The
Governmentwouldstillpursueitsfocusoneconomicreforms,especiallythose
aimedtobringthedeficitundercontrolwhileensuringstrongexpansionin
investmentininfrastructure.
Intunewithindustrialgrowth,theIndiancapitalmarketshavealsoshown
positivesignsofrevival.TherecentDubaidebtcrisisisexpectedtohaveminimal
directimpactontheIndianmarketinthelongterm.Accordingtoanalysts,this
endurancecanlargelybeattributedto:
1)Theamountinvolvedbeingrelativelysmall
2)TheexposureoftheIndianbankingsystemtotheDubaifinancialsystemfrom
thepointofviewofdirectforeigninvestmentorFIIislimited
Despitegoodperformanceinafewkeyareasforgrowth,expertspredictthat
agriculturalGDPandacontinuousdeclineinexportssinceSeptember2008are
likelytoposeconcerns.Agriculturaloutputmightcontractsharplyinthelast
quarteroftheyear2009-2010asaresultofbadmonsoons.Also,spawningfrom
shortfallsinagriculturaloutput,theeconomyisexpectedtowitnessarisein
inflation,bothforretailandwholesaleprices,withfiguresforbothtotouch7
percentin2012.
Asasteptowardsdilutingtheimpactofbadmonsoons,theGovernmentis
focusingoninnovationinagriculture.Otherpriorityareasfornextyearinclude
bringingbackeconomicgrowthtoitsprevioushighsof9percentperannum,
throughcontinuedeffortstomaintainthegrowthindomesticdemandand
achievesubstantialincreaseininfrastructureinvestment.
Indian Economy
Page 3 of 19
Analyst: Asmita Deshmukh, Nishtha Satyam2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
7.9
6.15.85.8
7.87.88.6
01234567890
March qtr
'08
June qtr
'08
Sept qtr
'08
Dec qtr
'08
Mar qtr
'09
Jun qtr
'09
Sept qtr
'09
dia GDP at Factor Cost
urce:EIU,November30,2009
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Ducati to enter Indian premium bike segment
ItaliansportsbikemanufacturingcompanyDucatiMotorHoldingsreportedly
openeditsfirstshowroominIndiainearlyNovember,inpartnershipwithPrecisionMotorIndiaPrivateLimited.Thecompanyisexpectedtoopensix
moreshowroomsinothermajorIndiancities,andreportedlyaimstosellatleast
100bikesinitsfirstyearofoperationinIndia.Therangeofbikestoberetailed
inIndiaislikelytoreportedlybepricedbetweenUSD20,500andUSD92,000.
Michelin to set up USD 856 million plant in Chennai
TyremanufacturinggiantMichelinGrouphasreportedlyannouncedplanstoset
upatruckandbusradialmanufacturingplantnearChennai,entailingan
investmentofnearlyUSD856million.Thecompanyhasreportedlysigneda
MemorandumofUnderstandingwiththeTamilNadugovernmenttothiseffect.
Thefacilityisexpectedtobespreadacross290acresandprovidelocal
employmentto1,500workers.Theplant,whichisexpectedtobeoperationalin
2012,istofocusonsupplytotheIndianmarket.
Apollo Tyres to hike capacity by 50 percent
IndiantyremanufacturerApolloTyreshasreportedannouncedplanstoaugment
productioncapacitybyover50percentinIndia.Thecompanysproduction
capacityistoreacharound1600tonnesaday(fromitscurrentdailycapacityof
950-1000)onceitsChennaiplantreachesterminalcapacityinthefirstquarterof
2010.TheChennaiplantisanticipatedtobeoperationalbyearlyDecember.
ApolloTyresreportedlyplanstosupplyhalfoftheChennaiplantsoutputtoOEMsandtheremainingtotheaftermarket.
Toyota India in plans to set up engine manufacturing plant
ToyotaKirloskarMotorPrivateLimitedisreportedlyinplanstosetupanengine
andtransmissionplantinIndia.Theplantisexpectedtobebuiltatthe
companysupcomingsecondmanufacturingfacilityinBangalore,forwhichthe
firmhasreportedlyannouncedaninvestmentofUSD685million.Settingupof
thisunitinIndiaisexpectedtohelpToyotaincreasethelocalizationlevelsofits
vehiclesaswellasreducemanufacturingcosts.
Volkswagen India to launch first SUV in India in December, Polo
hatchback next year
EuropeanautomajorVolkswagenAGisreportedlyoncoursetolaunchthe
Touareg,itsfirstsportsutilityvehiclefortheIndianmarketbyearlyDecember
thisyear.TheSUVisreportedlytobebuiltonthePorschesCayenneplatform,
andimportedasacompletelybuiltunit(CBU).ItisexpectedthattheSUVwill
beretailedataboveUSD64,000.
VolkswagenhasreportedlyalsoreiterateditsintentiontolaunchtheIndian
versionofitsinternationalbestsellinghatchbackmodel,thePolo;thecaris
expectedtobelaunchedinIndiain2010.
Page 4 of 19
Auto and Auto Components
Analyst: Ranjeet Javeri and Kudrat Puri2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
We believe that the Indian
arket will be interesting and
evelop faster than any other
arketstiano Silei, Vice-President (Sales),
cati Motor Holding
urce: DNA India, Ducati plans to sell 100 bikes by
c next year, November 2, 2009)
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RBI plans to increase the timeline for NPA Provisioning
TheReserveBankofIndia(RBI)planstogivebanksmoretimefornon-
performingassets(NPA)provisioning,asitintendstoextendthetimelineforNPAsfromSeptember2010toMarch2011.AspertheSecondQuarterReview
ofMonetaryPolicy2010,RBIhadannouncedthatthebanksshouldhave
minimumprovisioncoverageof70percentforNPAsbySeptember2010,which
waslikelytoimpacttheprofitabilityofthebanks.Theextensionmightallow
bankstostepupgraduallytheirprovisioncoverage,therebyreducingtheimpact
onprofits.
AccordingtocreditratingsagencyCRISIL,outofthe35banksratedbythem,
11bankshaveprovisioncoverageoflessthan50percentandabout16have
provisioncoverageofbetween50percentand70percent.
HDFC acquires Credila Financial Services
Toforayintotheeducationloansegment,HousingDevelopmentandFinance
Corporation(HDFC)hasacquireda41percentstakeineducationloanprovider
CredilaFinancialServicesforaconsiderationofaroundUSD2.1million.The
bankhasacquiredthestakefromMerrillLynch,whichwasaninitialinvestorin
thecompany.Theacquisitionwillenablethebanktoenterintoaspecialized
market,whichisestimatedatoverUSD6.4billion.TheIndian,educationloan
marketisalargeopportunity,asitisgrowingatarateof25-30percentper
year.
PNB plans to acquire Dana BankPunjabNationalBank(PNB),oneofIndiasleadingpublicsectorbanks,is
planningtoacquireamajoritystakeinKazakhstan-basedDanaBankfora
considerationofaroundUSD1820millionduringthecurrentfiscalyear.The
acquisitionwillenablePNBtoexpanditsbusinessintheoverseasmarketby
penetratingintotheCIS(CommonwealthofIndependentStates)countries.
PNBhasalreadyreceivedthepermissionfromReserveBankofIndia,Indias
centralbank,approvaltosetupasubsidiaryinVancouver.Danabankhasfive
brancheswithatotalbusinesssizeofUSD60million.
SBI is planning to foray into wealth management businessStateBankofIndia(SBI),Indiaslargestcommercialbankbybalancesheetsize,
isplanningtoforayintothewealthmanagementbusinessandfinancialplanning
servicesbyleveragingitsextensivebranchnetwork.Thebankplanstotarget
middleincomegroupandearnadditionalfeeincomethroughthebusiness.It
planstoemployfinancialplannerstoapproachaccountholderswithoverUSD
10,000intheiraccount.
Page 5 of 19
Banking and Financial Services
Analyst: Kunal Jain and Ruchika Anand2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
11%16%
25%
54%
-14%
9%
18%20%25%
29%
21%
-11%
12% 12%
0%
%
%
%
%
SCBs SBI Bank of
Baroda
BOI ICICI Bank HDFC Bank Axis Bank
Credit Growth Deposit Growth
edit to Deposit Growth in Q2 2009 10
o-y)
ource:CRISILResearch,QuarterlyUpdateon
dustryPerformance,Q2200910
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Pantaloon Retail in search of prospective acquisitions
PantaloonRetail,oneofthelargestretailersinIndia,isinsearchforpotential
acquisitionstodevelopitsfoodbusiness.Asreportedbythecompany,itislookingtoacquiresmallcompaniesandhasbeenindiscussionwithvarious
companiesinthefoodbusiness.However,companyhasrefusedtoprovideany
furtherinformationonaccountofthetalksbeingverypremature.
Shoppers Stop sketches three year expansion plan
ShoppersStop,oneamongstIndiaslargestorganizedretailers,hassketcheda
threeyearexpansionplanwithanaimtoincreaseitstorecountby15withan
investmentofapproximatelyUSD54million.Theinvestmentisexpectedtobe
fundedthroughinternalaccruals.Thenewstoresarelikelytoaddabout1million
squarefeetofspaceandexpandthecompanysfootprintin5newcities.The
fivenewcitiesareexpectedtobethetier-IIciteslikeAmritsar,Ahmedabad,
Mangalore,MysoreandVijaywada.Thecompanyisalsolookingtoopenafew
newstoresinDelhiandMumbaiastheycumulativelyaccountforalittlemore
than60percentofthecompanystotalsales.Thecompanyrecentlytiedupfor
retailingwithMustang,aGermanjeanswearandlifestylebrand.
GS Home Shopping in contract with TV18 HSN Holdings Ltd.
GSHomeShoppingInc.,aSouthKoreanTVshoppingchannel,hasreportedly
signedacontractwithIndiasTV18HSNHoldingsLtd.toenterintotheIndian
market.Asperthereports,thecontractsignedentitlesGSHomeShoppingto
buya15percentstakeintheholdingcompanyofanIndiancableTVshoppingchannelforUSD18.4million.
Bharti Wal-Mart to open 40 new stores
BhartiWal-Mart,anequaljointventurebetweenBhartiGroupandWal-Mart,has
reportedtoexpanditsoperationsinIndiabyopening40newcashandcarry
storesinthenextfewyears.Wal-MartopeneditsfirststoreinMay2009in
AmritsarunderthenameBestPriceModernWholesaleandhadinitially
plannedtoopen15-20storesinthreeyearsandemployaround5,000people.
Reliance Footprints plans to open 10 stores in one yearRelianceFootprints,aconceptstorebyRelianceRetailLimited(100percent
subsidiaryofRelianceIndustriesLimited)forfootwear,handbagsand
accessorieshasplannedtoopen10newstoresinthefinancialyear2009-10.
Thecompanycurrentlyoperatesthrough15storesandretailsvariousbrands.
Thebrandedproductsaccountfor85percentofthetotalsaleswhereasthe
balance15percentisthroughprivatelabels.Thecompanyplanstoadd15-20
storeseveryyearforthenextthreeyearsandexpanditsoperationsin50cities.
Page 6 of 19
Consumer Markets and Retail
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Analyst: Rajiv Somani
had a meeting with the Wal-
Mart chairman. They are very
uch satisfied with the results in
dia. I was informed by Wal-Mart
EO that they are looking at
pening more stores. He gave the
gure of 40 more across the
ountry in immediate futureand Sharma, Commerce and Industry Chief, India
urce: Datamonitor News and Comments, Bharti
l-Mart to open 40 new stores in India, November
2009)
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Gateway Hotel to expand through management contracts
IndianHotelshavelauncheditsthirdpropertyinRajastan(Jodhpur)underthe
brandGatewayHotel.ItalreadyhaspresenceinJaipurandJaisalmerinRajastan.Currently,thebrandhas20propertiesinitsportfoliooutofwhich19
havebeenmigratedfromTajGrouptothisbrandasapartofthere-branding
strategy.Additionally,ithas13up-cominghotelprojectswhichareatvarious
constructionstages.Allthese13propertiesarelikelytobeoperatedthrough
themanagementcontractarrangement.TheGatewayHotelJodhpuristhefirst
propertywhichisoperatingundermanagementcontract.Itislookingformore
propertieswithminimumroomcapacityof150roomsforitsmanagement
contracts.Thebrandsfocusistoexpandinthemetros,Tier-IIandTier-IIIcities.
Oberoi expending its footprints in Middle East and SE Asian
marketsWiththeimprovingglobaleconomicconditionsTrident(OberoiGroup)plansto
reviveitsoverseasexpansionstrategy.TheOberoiGroupplanstoexpendits
TridentbrandinSouthEastAsianandMiddleEastmarketsnextyear.Itisalso
comingupwithnewTridenthotelinNorthMumbaiinDecember.Thegroup,
whichownsmostofitshotels,isactivelylookingatmanagementcontractsfor
itsfive-starbrand.
Marriott aggressively expanding in India
MarriottInternationalplanstoadd26newhotelsinIndia.Itisexpectedtoadd
6,000roomstoitsexistinginventoryof2,000rooms.IthasplannedthelaunchofitsthreeCourtyardhotelsinNovember2009followedbythelaunchof
anothereighthotelsin2010.Thecompanys15otherprojectsarein
developmentstage.
Middle East hotels Jumeirah and Rotana plan to expand in India
MiddleEasthotelsJumeirahandRotanaareeyingtheIndianhotelmarketfor
expansion.JumeirahseestheIndianhospitalityindustryasafuturegrowth
market.TocontinuegrowthofitsglobalbrandpresenceRotanaisalsolooking
tonegotiatewithpropertyownerstoestablishitsbrandinIndia.
IHC to set up hotel in Bangalore
IndiaHospitalityCorporationislikelytoraisefundsworthUSD212millionfor
expansionofitshotelbusiness.ThecompanyisplanningtoexpandintierII
cities.Itislookingforbothorganicandinorganicgrowthpathstoexpandits
presenceinthecountry.Thecompanyhassignedanagreementtomanage10
hotelswitharealtyfirmEntertainmentWorldDevelopersPvtLtd.Thesehotels
areexpectedtocomeupby2011.ThefirmhasalreadyinvestedUSD4.2million
inthehotelbusinessthroughitswholly-ownedsubsidiary,GordonHouse
Estates.Thecompanycurrentlyoperatesitshotelchainunderthebrand
'GordonHouse'and,hasthreehotelpropertiesinthecountry,twoinMumbai
andoneinPune.
Page 7 of 19
Analyst: Pallavi Phatak
Hospitality
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
We are seeing ARRs getting
orrected across the country. We
ill continue to see this trend
uring such times. By March 2010,
e expect occupancy to go up
gainshay Kulkarni, Executive Director (South Asia) for
shman and Wakefield - Hospitality
urce: Business Standard, Bangalore may facersupply of luxury rooms, November 14, 2009)
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HCL Technologies bags deal from UK-based Equitable Life
Assurance Society
HCLTechnologieshassignedamulti-yeardealworthaboutUSD200millionwithUK-basedinsurancefirmEquitableLifeAssuranceSociety(ELA).Asper
thetermsofthedeal,HCLwouldprovidecompletesolutions,includingpolicy
administration,finance,actuarialservices,IToperationalsupportandcallcenter
servicestoELA.ThedealhasbeensignedwithHCLInsuranceBusiness
Services,HCLsUK-basedlifeandpensionsadministrationbusinessarm.
Indian ESO sector to reach USD 50 billion by 2020
AccordingtoastudyconductedbyBooz&company,India'sEngineering
ServicesOutsourcing(ESO)sectorislikelytoreachUSD50billionby2020,and
generateemploymentof25-30million.Costarbitrageandavailabilityofskilled
professionalsinthecountrymightbeamajordrivingforcebehindthisincrease.
ThestudyfurtherstatesthathalfoftheseESOrevenuesarelikelytocome
fromUSwhileEuropewouldcontribute40percentandtherestwouldbefrom
Japan.
Infosys acquires McCamish Systems
InfosysTechnologieshasacquiredAtlanta-basedMcCamishSystemsLLC,a
businessprocesssolutionsprovider.TheacquisitionislikelytoaddaboutUSD
7-8millionrevenuestoInfosyssrevenuesinMarchquarter.Theupfront
considerationforthedealisUSD38millionwithuptoanadditionalUSD20
millionpayabletothesellersifMcCamishSystemsachievescertainfinancialtargetsinthefuture.Withthisacquisition,Infosysexpectstoenhanceits
capabilitytodeliverend-to-endbusinesssolutionsfortheinsuranceand
financialservicesindustriesandtocontributepositivelytostrategyofgrowing
non-linearrevenue.Ontheotherhand,McCamishbelievesthatthemerger
wouldenableittoservicelargerportfoliosoftransactionsforclientsandexpand
intoglobalmarkets.Also,thedealwouldestablishInfosysasakeyplayerin
providingbusinessplatformservices.
Wipro opens second facility in China
WiproLtd.,oneofthemajorsoftwareserviceprovidersinIndia,hasopenedits
secondfacilityinChinaatChengdutoprovideITandback-officeservicestoitsglobalclients.Thisfacilityhasstartedoperationswith100staff,andthe
companyplanstoincreasetheheadcountto1,000people.Wiproalreadyhasa
facilityinShanghai.
KPIT Cummins acquires Sparta Consulting
Pune-basedITserviceproviderKPITCummins(KPIT)InfosystemsLtd,has
acquiredSpartaConsulting(Sparta)foraboutUSD38million.Foundedin2007
byPaulFreudenbergandLokeshSikaria,CaliforniabasedSpartaprovideshigh
endSAPsolutions.ItmainlyoperatesinCaliforniawithaunitinIndialocatedat
Noida.KPITbelievesthatthisacquisitionwouldstrengthenitsbusinessmodel
tofocusonselectindustriesandachievemarketleadership.Themoveis
expectedtoresultingreaterefficienciesandincreasedmarketshareforKPIT.
Page 8 of 19
Analyst: Parnika Patil
IT / ITeS
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
The Indian offshore industry is
rowing on the back of improving
emand and continued
dvantages of India as an offshore
estination. India-centric suppliers
re investing in delivery
apabilities and setting up new
entersurvey by Everest's Market Vista: Q3 2009
urce: The Economic Times, Indian offshore industry
w increased momentum in Q3, November 5, 2009)
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Scripps Networks acquires controlling stake in NDTV Lifestyle
US-basedScrippsNetworksInteractivehasacquired69percentstakeinNDTV
GroupslifestyleprogrammingsubsidiaryNDTVLifestyle.Thetransactionisexpectedtobecompletedbytheendoffirstquarterof2010.ScrippsNetworks
Interactiveisthelifestyle-orientedcontentdeveloperfortelevisionandthe
Internet.NDTVGroup,inaseparatetransactionrepurchasedUSD100million
stepupcouponbondsduein2012.ThissetsNDTVfreefromtherestrictive
clauseandallowsthecompanytolookforinvestorsforitsdifferentverticals.
PVR acquires DT Cinemas and dilutes 10 percent stake to Cineplex
PVRCinemashasacquiredtheexhibitionbusinessofDTCinemasLtd,a
subsidiaryofDLF,inacash-cum-stockdeal.Accordingtothestructureofthe
deal,thecompanyisexpectedtopayacashcomponentofUSD4.3millionand
allot2.55millionsharesrepresenting9.1percentofthefullydilutedpaid-up
sharecapitalofPVRtoDTCinemas.Withthisacquisition,thetotalnumberof
propertieswouldmoveupto28with134screensfrom24propertiesand108
screens.
Thecompanywouldalsodilute10percentequitystaketoCineplex,aThailand-
basedcinemacompanyforapproximatelyUSD9million.
Dish TV raise USD 100 million through global depository receipts
ApolloManagement,US-basedassetmanagementfirmisplanningtoacquire
11percentstakeinDishTV,direct-to-home(DTH)serviceprovider.DishTVis
raisingthefundsthroughissueofglobaldepositoryreceipts(GDR)toacquirenewsubscribers.Withasubscriberbaseofapproximately6million,DishTVis
IndiaslargestDTHoperator.
Union Cabinet gives approval to digitize Cable TV
UnionCabinethasgivenitsapprovalfortheHeadendintheSky(HITS)policy
whichisaimedatdigitizingcableTVoperationsthroughoutthecountry.The
cabinethasalsoapproved74percentForeignDirectInvestment(FDI)inthe
HITSsegmentand49percentforcableTVoperators.However,Foreign
InvestmentPromotionBoardsapprovalwouldberequiredforFDIover49
percent.InformationandBroadcastministryhasfourpendingapplicationsfor
HITSservicesandhopestheserviceproviderstoroll-outserviceswithinayear.
Dar Capital firm is highest bidder for IPL theatrical rights
EntertainmentandSportsDirect(ESD),promotedbyinvestmentadvisoryand
privateequityfirmDarCapitalGroup,hasemergedasthehighestbidderwith
USD70.4millionfortheIndianPremierLeague's(IPL)theatricalrights.Thedeal,
from2010to2019,isexpectedtogiveESDexclusiveexhibitionrightsfor
audiencesincinemahalls,water-bornevessels,buses,trains,hotelsandother
publicvenues.Thereweretwobidsreceivedforthetheatricalrightstender
fromTriplecomMediaandESD.However,ESDbidissubjecttofinalapproval
fromtheIPLGoverningCouncil.
Page 9 of 19
Media
Analyst: Mehul Desai2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
We firmly believe that the IPL is a
perior sporting event that has
ansformed the very landscape of cricket
obally. Together with our partners UFO
oviez and Valuable Media, we are
nfident of bringing about a radical
ansformation in the way the sport of
cket is viewed and enjoyed by fans
ross the world. We believe that there
e significant untapped business
portunities that are being addressed by
is association that will create a global
nchmarkn Rangachari, Director, ESD
urce: IndianTelevision.com, Dar Capital firm is
hest bidder with USD 70.4 million for IPL theatrical
hts, November 12, 2009)
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Oman Oil to further invest in Bina Refinery
OmanOilCompany(OOC)islikelytoinvestanadditionalapprox.USD244
million(INR1,220crore)intheUSD2.4billionBinarefineryproject.TheprojectisbeingimplementedbyBharatOmanRefineriesLtd.(BORL)inMadhya
Pradesh.ThisinfusionoffundsislikelytoincreaseOOCsstakefromthe
current2to26percent.BORLisajointventure(JV)companyofBharat
PetroleumCorporationLtd.(BPCL)andOOC.Itwasformedin1993butOOC
hadfrozenitsinvestmentsfollowinginordinatedelaysintheimplementationof
therefineryproject.
EGOM decides to allocate another 50 MMSCMD of KG-D6 gas
TheEmpoweredGroupofMinisters(EGOM)hasdecidedtoallocateanother50
millionmetricstandardcubicmetersperday(MMSCMD)ofKrishnaGodavari
(KG)D6gastoindustrialconsumers.Ofthe50mmscmd,20mmscmdislikely
tobeallocatedonfirmbasistoindustrialconsumersinpower,fertilisers,steel,
petrochemicals,refineriesandcitygasdistributionandtheremaining30
mmscmdislikelytobeallocatedonafallbackbasis.Theadditionalallocationis
expectedtoincreasetheoverallcustomerbaseforsupplyofgasthereby
avoidingfrequentchangesintheproductionlevelfromtheblock.
BPCL, Videocon-led consortium finds more oil in Brazil
AconsortiumofBharatPetroResources,VideoconIndustriesandAnadarko
PetroleumCorporationhasdiscoveredadditionaloilintheirWahoo2wellblock.
TheWahoo2wellislocatedinblockBM-C-30,5milestothenorthfromtheoriginalWahoodiscoverywell,whichhitover195feetofnetoilpayinOctober
lastyear.AnadarkoPetroleumistheoperatorofblockBM-C-30andholdsa30
percentstake.US-basedDevonEnergyCorporationandIBVBrazilPetroleoa
jointventure(JV)betweenVideoconandBharatPetroResources(BPCLs
overseasexplorationandproductionfirm)hold25percentinteresteachinthe
blockBM-C-30whereasSouthKorea'sSKEnergyholdstheremaining20
percent.
Mangala oil field's output touches 20,000 barrel oil per day mark
OilproductionfromRajasthan'sprolificMangalafieldhastouchedthemarkof
20,000barrelsperday.EarlierCairnIndia(Cairn)hadsuccessfullytestedthefirsthorizontalproductionwellatthisoilfieldatarecordtestproductionrateof
morethan11,500barrelsofoilperday.Accordingtonewsreports,36
developmentwellsweredrilled,ofwhich26havebeencompleted.Cairnhas
alsoconcludedaninitialagreementtosupplycrudeoilfromtheMangalafieldto
RelianceIndustriesLimited(RIL)inJamnagar,Gujarat.
Page 10 of 19
Oil and Gas
nalyst: Sidharth Balakrishna and Suman Lala2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
ectorFirm
allotmentsFallback
allotments
xisting Assets
ower(includingplants
obecommissionedin009-10)-beyond18
MMSCMDearmarked
arlier
12.07
(+0.875)*12
on-Ureasubsidized 0.178 -
ertilisers
teel(onlyforfeedstock) 0.44 -
etrochemicals(onlyfor
eedstock)1.918 -
efineries 5 6
GDprojects(for
dustrial&commercialectors)
2
aptivepowerplants 10
otal19.606
(+ 0.875)*30
For4powerplantsofAPat75percentPLF,subject
overificationbyMoPIII.
llocation of 50 MMSCMD additional gas toarious priority sectors
ource: Infraline, EGOM finalizes allocation of another 50
MSCMD of KG-D6 gas to industrial
onsumers, November 12, 2009
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Ranbaxy launches generic version of blockbuster drug Valtrex
with 180-day exclusivity
RanbaxyLaboratoriesLimited,oneofIndiasleadingpharmaceuticalcompanies,hasreportedlylaunchedthegenericversionofGlaxoSmithKlinePlcs(GSK)anti-
herpesdrugValtrex(valacyclovir)intheUS.Thecompanywasgranted180-day
exclusivityforthedrugin2007.Thedrug,believedtobelaunchedonNovember
25,2009,isavailableintheformof500mgand1gtablets.Valtrexhadsalesof
aroundUSD2.2billionintheUSin2008.Ranbaxymanufacturedvalacyclovir
fromtheproductionfacilityofitsUSsubsidiaryOhmLaboratories.
Draft bill finalized to set up NCHRH; MCI, PCI, dental, nursing
councils likely to be abolished
ThedraftbilltosetuptheNationalCouncilforHumanResourceinHealth(NCHRH)
hasreportedlybeenfinalized.NCHRHisexpectedtobeformedasanoverarching
regulatorybodytohelpindeterminingandregulatingthestandardsformedical
educationinIndia.ThismoveexpectstoaidIndiainbridgingthegapsinhealthcare
manpowerandresources.ThisCouncilislikelytoreplacetheexistingmedical,
dental,nursingandpharmacouncilsinIndia.Thehealthministryhasopenedthe
finalizeddraftbillforpublicscrutiny.
Ecron Acunova enters into alliance with Tokyo CRO
EcronAcunova,aBangalore-basedcontractresearchorganization,andJapan-
basedTokyoCROInc.havereportedlyjoinedhandstoextendtheirnetworkof
servicesandfacilitateclinicaltrialsinexpandedgeographies.WhileEcron
AcunovaislikelytogettheopportunitytotaptheJapanese,Chineseand
KoreanmarketswhereTokyoCROhasestablisheditspresence,TokyoCROis
expectedtoleverageonthealliancetoexpandintoIndia,EuropeandtheUS.
Jubilant forms a JV for developing new drugs
JubilantOrganosysLimited,anIndianpharmaceuticalcompany,hasreportedly
formedaJointVenture(JV)withtheUniversityofAlabamaatBirminghamand
US-basedSouthernResearchInstitute.TheJVisexpectedtolookinto
developingnewdrugsespeciallyinareasofoncology,metabolicandother
infectiousdiseases.Theagreementincludesthediscoveryandthedevelopment
ofthemostpromisingbiologicaltargetsbythethreeentities.
Intas and Orbus Pharma sign a non-binding offer agreement
IntasPharmaceuticalLimited,anIndianhealthcarecompanyandOrbusPharma
Inc.,aCanadianpharmaceuticalmajor,havereportedlysignedanon-binding
offerforthesaleoftheproductrightsofthelattersMetoprololSuccinatefor
thecontinentalEuropeanregionandanyotherterritories(excepttheUS).
MetoprololSuccinatecanbeusedaloneorincombinationwithotherdrugsin
thetreatmentofhighbloodpressure.Thetransactionisexpectedtobeclosed
byJanuary2010.
Page 11 of 19
Pharma
Analyst: Nandita Kudchadkar and Parnika Dayal
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
To overcome the acute shortage and
even distribution of human resources in
blic health delivery system, the Ministry
Health & Family Welfare aims at
erhauling the current regulatory
amework. Toward this end, it is proposed
set up a National Council for Human
sources in Health as an overarching
gulatory body to achieve the objective of
hancing the supply of skilled personnel
the health sectork Force for setting up of the National Council for
man Resources in Health
urce: Report of the Task Force for setting up of the
tional Council for Human Resources in Health,
nistry of Health and Family Welfare, Government of
a, 2009)
8/14/2019 Sectoral Snippets
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NTPC diversifies into hydro power
StateownedNationalThermalPowerCorporation(NTPC)isdiversifyinginto
hydropowertobecomeanintegratedenergyutilitywithadiversifiedfuelmix.Ithassetatargettogenerate9000megawatt(MW)ofhydroelectricityby2017,of
which2000MWareexpectedtobegeneratedfromUttarakhandandHimachal
Pradesh.ThehydroprojectsplannedinUttarakhandare520MWTapovan
Vishnugad,600MWLoharinagPala,171MWLataTapovanand261MWRupsia
BhagarBarawhiletheoneinHimachalPradeshis800MWKoldamproject.
TheUSD1402billionTapovanVishnugadprojectisexpectedtobe
commissionedbyDecember,2011sixmonthsaheadofschedule.
PFC enters into a JV to promote energy efficiency projects
PowerFinanceCorporation(PFC)hasenteredintoaJointVenture(JV)with
NationalThermalPowerCorporationLtd,PowerGridCorporationofIndiaLtd
andRuralElectrificationCorpLtdandsetupacompany,EnergyEfficiency
ServicesLtd(EESL),topromoteprojectsinvolvingenergyefficiency,
conservationandclimatechange.Theventurewitheachpartnerholdingan
equalshare,hasbeensetupwithanequitycontributionofapproximatelyUSD
89billion.Itplanstopromoteenergy-efficiencyprojectssuchasBachatLamp
Yojana,AgriculturalDemandSideManagementandMunicipalDemandSide
ManagementandtargetsarevenueofUSD327billion.
Cabinet approves National Solar Mission
TheCabinetrecentlyapprovedtheJawaharlalNehruNationalSolarMissiontoreducethedependenceonfossilfuels.Themission,withaninitialinvestmentof
USD2027billion,isplannedtobeimplementedinthreephasesandaimsto
provide20,000MWtothenationalgridby2022.
TheGovernmenthasappointedNTPCVidyutVyaparNigamLtdasthenodal
agencyforreachingpowerpurchaseagreementswhichwouldsellthepower
boughtfromsolarprojectdeveloperstoStateutilities.Thiswouldbethen
creditedagainstthecompulsoryrenewableenergypurchasetargetssetbythe
respectiveStateElectricityRegulatoryCommissions.
BHEL enters into a JV to set up thermal power plantBharatHeavyElectricalsLimited(BHEL)enteredintoaJointVenture(JV)with
MadhyaPradeshPowerGenerationCompanyLimitedtosetupa1600MW
powerplantatKhandwainMadhyaPradesh.Theplant,withanequalshareheld
byboththepartnersinitially,wouldbeequippedwithsupercriticaltechnology
forlowercoalconsumptionandloweremissions.Thestakeswouldbelater
dilutedto26percenteach,withtherestheldbyfinancialinstitutionsandother
partners.
BHELhasalsoenteredintojointventureswiththesouthernstatesofTamil
NaduandKarnatakatosetupandoperatesupercriticalthermalpowerplants.
Page 12 of 19
Power
Analyst: Sidharth Balakrishna and Neha Saraf2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Currently wind power generation
the country stands at about
0,500 MW. We will double this
apacity by 2022 and try to triple
ooq Abdullah, Minister for New and Renewable
ergy
urce: The Economic Times, Govt to double wind
wer generation by 2022, November 27, 2009)
8/14/2019 Sectoral Snippets
13/19
SEBI eases norms for raising funds
Thecapitalmarketregulator,SecuritiesandExchangeBoardofIndia(SEBI)has
easednormsforsecurity,ortheassetcover,requiredforissuingsecuredbonds.Themoveisexpectedtobenefithousingfinancecompanies,which
usuallyissuepartlysecureddebtsecurities,facedproblemsinraisingfunds,as
companiesusuallysolddebentureswithanunderlyingsecuritythatwasonly
worthafractionoftheamountraised.
DIPP proposes relaxation of FDI norms for realty
TheDepartmentofIndustrialPolicyandPromotion(DIPP)hasproposedfurther
relaxationofFDInormsfortherealestatesector.Presently,athreeyearlock-in
periodisrequiredanoriginalinvestmentmadeintotheintegratedtownship
developmentandotherconstructiondevelopmentprojects.Consideringthe
intensityoftheFDIinflowsintherealestatesector,thedepartmentwantsto
removetheconditionofminimumperiodfortherepatriationoftheoriginal
investment.Theproposaliscurrentlybeingdiscussedwithvariousother
ministries.
RMZ takes first steps in residential real estate market
RealestatedeveloperRMZCorp.,whichhasovertheyearsspecializedin
commercialpropertydevelopment,isplanningtohaveitspresenceinthe
residentialsegmentby2010.By2011-12,thecompanyexpectstohave50:50
commercialandresidentialportfoliomix.Inthefirstphasethecompanyis
planningtodeveloprowhousesandapartmentsinHyderabadandBangalore,
whileinthesecondphaseoftherollout,thefirmplanstokickoffprojectsin
KochiandChennai.
Brigade Group joins the queue for affordable housing projects
BangalorebasedrealestatedeveloperBrigadeisplanningtoleveragethe
changingmarketscenariowiththelaunchofaffordablehousingprojectstotaling
upto10,000unitsinthecitybyFY2010-11.Thefirmalsohasplanstolaunch
affordablehousingprojectsinMysore,Chennai,HyderabadandMangalore.The
companyisintalkswithvariousbankstoraisetherequiredfundsforits
affordableventure.
Low rentals boost commercial estate sales
Accordingtotopbuilders,thecorrectioninthecommercialrealtyratesin
metrosby20to40percentisexpectedtoimprovethesalesby50percentin
Q3andQ4of2009-10.Largebuildersinvariousmetrosaretappingthis
opportunitybyofferingready-to-possessoffices,shopsandcommercialplotsat
15-20percentdiscount.
Page 13 of 19
Real Estate and SEZs
Analyst: Rajiv Parekh2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
urce: Real Estate Developers, Goldman
chs, October 26, 2009
415 423
53131
233 199 224 205 194
337233
357
1324
822
0
200
400
600
800
1000
1200
1400
Ju
l-08
Aug-0
8
Sep-0
8
Oc
t-08
Nov-0
8
Dec-0
8
Jan-0
9
Fe
b-0
9
Mar-
09
Apr-
09
May-0
9
Jun-0
9
Ju
l-09
Aug-0
9
Mumbai Total Absorption
onthly Commercial Absorption (Mumbai)
8/14/2019 Sectoral Snippets
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Page 14 of 19
Telecom
Analyst: Neha Dayal and Rishabh Chadha2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Reliance Communication cuts SMS tariff to one paisa
RelianceCommunicationhasfurtheraugmentedthetariffwarsbyannouncinga
newplanwhichallowsuserstoSMSatonepaisaandhasalsolaunchedanotherplanallowinguserstosendunlimitedtextmessagesforUSD0.02(INR
1)perdayandcappingthenumberofmessagespermonthunderthisplanto
15,000.
Successful bidders to use 3G spectrum after June, 2010
DoThasannouncedthatthesuccessfulbiddersforthe3Gauctions,scheduled
tobeheldinJanuary2010,willlikelybeabletoutilizethespectrumonlyafter
June,2010.Thisisduetothefactthatthearmedforceswouldrequireafew
monthstoshiftoperations.
TRAI recommends porting charge of USD 0.41 (INR 19)
TheTelecomRegulatoryAuthorityofIndiahasstatedthatmobileusersopting
forMobileNumberPortability(MNP)willhavetopayUSD0.41(INR19)orless
toavailtheservice.Withanestimated25percentofuserslikelytooptforMNP,
thisislikelytoserveasacatalystforoperatorstointroducenewincentivesand
schemestoattractandretaincustomers.
Essar takes 51 percent stake in Uganda, Congo telcos
TheEssarGroup,ledbytheRuiasissettoacquirea51percentstakeinDhabi
GroupstelecomoperationinUgandaandCongoforUSD150million.Essaris
likelytoinvestthisamountinWaridTelecominUgandaandCongotoenhance
networkqualityandislikelytoeventuallytakeoverthemajoritystakeinboth
thesecompanies.
Over 500 million telecom users in India
TheIndianTelecomindustryhassurpassedthetargetof500millionmobileand
landlinesubscribers.Thetargethasbeenachievedalmostayearinadvance.At
theendofOctober,thenumberofmobileusersstoodat488.4millionandthe
numberoffixedlineusersstoodat37.25million.
perator
Wireless Net Adds('000s)
Sept '09 Oct '09
taTeleservices 4,006.8 3,867.7
odafoneEssar 1,971.6 2,980.2
hartiAirtel 2,514.9 2,702.1
eliance 2,005.0 2,096.5
rcel 1,313.1 2,018.2
eaCellular 1,395.9 1,900.5
SNL 1,452.2 675.2
stemaShyam 228.4 335.8
TNL 17.3 58.2
oopTelecom(BPL) 77.6 50.1
FCL (0.6) (13.6)
tal 14,982.3 16,671.0
Others
2%Aircel
6%
Tata Teleservices
10%
Idea Cellular
11%
BSNL
12%
Vodafone Essar
Reliance
18%
Bharti Airtel
23%
ireless Net Additions (Sept-Oct, 2009)
Wireless Net Additions (Sept-Oct, 2009)
urce: TRAI Press Release, November 21, 2009 and November 04, 2009
8/14/2019 Sectoral Snippets
15/19
Kakinada forms JV with Sembawang
KakinadaSeaportsLtdhasformedajointventure(JV)withSembawang
Shipyard,awhollyownedsubsidiaryofSembcorpMarineLtd.,tosetupamarineandoffshorefacilityontheeasterncoastofIndia.Thetwocompanies
arelookingattappingtheoilexplorationandshippingactivitiesintheregion
especiallytherepairandreconstructionactivitiesofoffshorevessels.
SembawangisplanningtoinvestaboutUSD375millioninphasesandis
expectingtoachieveafinancialclosureinthecomingthreemonths.TheJVis
planningtogetbusinessfromcompanieswhosendtheirvesselstoSingapore
forrepairandmaintenanceandhelptheseclientstosavearound20-30percent
onthecostsinvolved.Thefacilityisexpectedtobeconstructedoveraperiodon
3-5yearsandofferserviceslikenewbuildings,conversions,repairsand
servicingofoffshorevesselsandships,buildingofoffshoremodulesand
equipment.
Kingfisher to raise USD 600 million
KingfisherAirlinesisplanningtoraiseaboutUSD600millionfundstopayoffits
debtandstrengthenthecompanysfinancialposition.Theshareholdershave
approvedaUSD100millionrightsissueandUSD100millionGlobalDepository
Receipts)GDRissue.Thecompanyissaidtobeintalkswithvariousprivate
equityfundstoraiseaboutUSD400millionfunds.
Foreign airlines can add more flights in India
TheDirectorateGeneralofCivilAviation(DGCA)hasissuednewguidelinesforforeignairlinestooperateflightstoIndia.Asperthenewguidelines,foreign
airlinescanoperateadditionalcapacityofupto10percentoftheirentitlements
duringhighairtraffic.TheguidelinesalsohavewithdrawntherightofAirIndia,
Indiasnationalcarrier,toissueaNo-ObjectionCertificate(NOC)toclearthe
extraflightswhichfallunderbilateralentitlements.Thismeansforeignairlines
cannowoperatelargeraircraftoroperateadditionalflightsduringthepeak
seasonandcatertotheincreaseddemand.
Blackstone invests USD 350 million in Gateway Rail
BlackstoneGroup,theUSbasedprivateequityhasacquireda37.5percent
stakeinGatewayRail,asubsidiaryofGatewayDistriparks,throughcompulsoryconvertiblebonds.BlackstoneissaidtohaveinvestedaboutUSD350millionfor
thestake.
TVS Logistics acquires Multipart Holding
TVSLogisticsServicesLtd.hasacquiredMultipartHolding,UK-basedlogistic
supplychaincompany.Throughthisacquisitionthecompanyisplanningto
expanditsoperationsinthedefenseandutilityservices.Thecompanyislooking
atmoresuchacquisitionsintheUSandtheEuropeanregionstoexpandits
presenceglobally.ItalsoplanstoentertheSouthAmericanandChinese
marketsbytheyear2010.
Page 15 of 19
Transport and Logistics
Analyst: Nitin Dehadraya2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Transportation & logistics
dustry in India is in very flexible
osition and there are a lot of
pportunities that are yet to be
xplored. Analyzing the industry's
rowth and structure, we believe
e can bring major significant
hanges in Indian markets. Weope should there changes are
one, it will increase the GDP to a
onsiderable growthhowmik, Managing Director, Duetsche Logistics
up
urce: Supplychain.cn, Deutsche Logistics invest US$
0 mn in India, November 23, 2009)
8/14/2019 Sectoral Snippets
16/19
Page 16 of 19
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Reference material for preparing this document was taken
from the following sources:
Note:1USD=46.7INR
Sources
Foreword:
Moneycontrol.com,IndianbankspasswithflyingcoloursinRBIreport,Oct22,2009
Bloomberg.com,IndiaFacesChallengeTimingMonetaryStimulusExit,Nov.10,2009
Reuters,RPT-POLL-India'sSeptindustrialoutputseenup7.3pcty/y,Nov12,2009
Economy:
Livemint,SecondQuarterGDPat7.9%,November30,2009
InternationalMonetaryFund
TheEconomicTimes,NoNeedforPanic:FMonDubaiCrisis,November29,2009
Economy:OverviewandOutlook,CrisilResearch
Livemint,OECDExpectsIndiatoGrowat7.3%in2010,November25,2009
ThaiIndianNews,StimulustoContinuetillRobustRecoveryTakesPlace:Mukherjee,November10,2009
Auto
CarTradeIndia,Ducatitosell100bikesnextyear,November09,2009
TheTimesofIndia,SuperbikemakerDucatisetsshop,November01,2009
HindustanTimes,Rs4,000-crMichelinplantinTamilNadu,November16,2009
Companypressrelease,MichelingroupcommitsRs.4000croreforamanufacturingplantinIndia,November27,
2009
BusinessStandard,ApolloTyrestoupcapacityby50percent,November12,2009
TheFinancialExpress,Toyotatosetupengine,transmissionplantinIndia,November24,2009
WheelsUnplugged,VWIndiatorolloutitsfirstSUVTouaregbyearlyDec09,November13,2009
BFSI:
TheHinduBusinessLine,ReserveBankofIndia(RBI)mayincreasethetimelineforNPAProvisioning,November
26,2009
EconomicTimes,StateBankofIndiaisplanningtoforayintowealthmanagementbusiness,November,3,2009
EconomicTimes,PunjabNationalbankplanstoacquireDanaBank,November24,2009
FinancialExpress,HDFCacquiresCredilaFinancialServices,November13,2009
BusinessStandard,IndianPublicSectorBanksplanningforoverseasexpansion,November26,2009
CM:
Just-food.com,Pantaloononacquisitionhunt,November20,2009
HindustanTimes,ShoppersStoptoinvestUSD54milliontoopen15stores,November17,2009
AsiaPulse,sKoreasGSHomeShoppingtomakeinroadsintoIndia,November16,2009
HindustanTimes,Bhartifor40cash&carrystoresinIndia,November9,2009
ATSHOA,Relianceonitsfootprints,October31,2009
8/14/2019 Sectoral Snippets
17/19
Page 17 of 19
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Hospitality:
TheTimesofIndia,TajsGatewayHotelchecksintoJodhpur,November10,2009
TheEconomicTimes,Trident'sMiddleEast,SEAsianforaynextyear,November10,2009
HindustanTimes,Marriotttoadd26newhotelsinIndia,November03,2009
MiddleEastTourismandHospitality,November04,2009 TheStatesman,IHCplansRs1000crorefund,November06,2009
IT:
TheEconomicTimes,HCLTechnologiesbagsUSD200milliondealfromUKfirm,November24,2009
TheEconomicTimesIndianESOtotouchUSD50billionby2020November18,2009
KhandwalaSecurities,InfosysTechnologies,November12,2009
TheEconomicTimesWiprolaunchessecondfacilityinChina,November26,2009
BusinessStandardKPITCumminsbuysSpartaforINR180crore,October31,2009
Media: IndianTelevision.com,ScrippsNetworkstakescontrollingstakeinNDTVLifestyle,November19,2009
ICICIReport,PVRLimited:WhatsChanged,November16,2009
EconomicTimes,US'ApolloManagementtoacquire11%inDishTVforUSD100million,November24,2009
IndianExpress,CabinetnodtodigitizecableTV,November13,2009
IndianTelevision.com,DarCapitalfirmishighestbidderwithUSD70.4millionforIPLtheatricalrights,November
12,2009
Oil and Gas:
HindustanTimes,OmanOilCompanytoinvestINR1,220croreinBinarefinery,November15,2009
Infraline,EGOMfinalizesallocationofanother50MMSCMDofKG-D6gastoindustrialconsumers,November12,
2009
BusinessStandard,BPCL,Videocon-ledconsortiumfindsmoreoilinBrazil,November24,2009
Infraline,BharatPetroleum'soverseasexplorationandproductionbusinessreceivesashot-in-the-armwitha
substantialdiscoveryofoilinBrazil,November24,2009
TheFinancialExpress,Mangalaoilfield'soutputtouches20kbarreloilperdaymark,November14,2009
TheEconomicTimes,RILtojoinhuntforshalegas,November16,2009
Pharma:
Livemint,RanbaxylaunchesgenericversionofValtrexinUS,November27,2009
BusinessStandard,RanbaxylaunchesGSK'sblockbusterdruginUS,November27,2009
TheTimesofIndia,GoodbyeMCI?Billonhealtheduwatchdogready,November16,2009
BioSpectrum,EcronAcunova,TokyoCROformstrategicalliance,November12,2009
BusinessStandard,JubilantinksJVwithUAB,SouthernResearchInstitute,November24,2009
CompanyPressRelease,OrbusPharmaSignsNon-BindingOfferForSaleOfMetoprololSuccinateProductRights
ForEuropeAndAnyOtherTerritoriesExceptUnitedStates,November18,2009
Power:
TheTelegraph,NTPCaimsbiginhydelpower,November23,2009
TheHinduBusinessLine,PFCventurewithpowerPSUs,November19,2009
TheHinduBusinessLine,Cabinetclearsnationalsolarmission,November19,2009
TheEconomicTimes,BHELtosetuppowerplantincentralIndia,November18,2009
TheEconomicTimes,Govttodoublewindpowergenerationby2022,November27,2009
8/14/2019 Sectoral Snippets
18/19
Page 18 of 19
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Real Estate:
IndianExpress,Sebieasesnormsforraisingfunds,November28,2009
BusinessStandard,DIPPproposesfurtherrelaxationofFDIforrealty,October30,2009
DNAMoney,RMZkeysintoresidentialrealestatemarket,November03,2009
DNAMoney,BrigadesRs2,000-crplanforvaluehousing,November18,2009 IndianRealtyNews,Lowrentalsboostcommercialrealestatesales,November28,2009
Telecom:
TheHinduBusinessLine,RComcutsSMStarifftoonepaise,November27,2009
BusinessStandard,3GspectrumwinnerscanuseitonlyafterJune,November21,2009
BusinessStandard,CelluserscanchangetelcosforRs19only,November21,2009
BusinessStandard,Essartakes51%stakeinUganda,Congotelcos,November16,2009
TheEconomicTimes,Telcossurpass500mnuserbasetargetayearinadvance,November05,2009;TRAI(Press
ReleaseNo.78/2009),November21,2009
BusinessStandard,DoTrelents,toseekTRAIviewonuniformlicensefee,November04,2009
Transport and Logistics:
DNA,KakinadaSeaports,SembavanginJV,November27,2009
BusinessStandard,Kingfishertoraise$600m,mostlytopayoffdebt,November10,2009
Business.rediff.com,ForeignairlinescanaddmoreflightsinIndia,November13,2009
FinancialExpress,BlackstonesRs300-crpushforGatewayRail,November10,2009
TheHinduBusinessLine,TVSLogisticsacquiresUKcoMultipartHolding,November11,2009
Supplychain.cn,DeutscheLogisticsinvestUS$150mninIndia,November23,2009
8/14/2019 Sectoral Snippets
19/19
in.kpmg.com
2009KPMG,anIndianPartnershipandamemberfirm
oftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.
Allrightsreserved.
KPMGandtheKPMGlogoareregisteredtrademarksof
KPMGInternational,aSwisscooperative.
Theinformationcontainedhereinisofageneralnatureandisnotintendedtoaddressthecircumstancesofanyparticularindividual
orentity.Althoughweendeavourtoprovideaccurateandtimelyinformation,therecanbenoguaranteethatsuchinformationis
accurateasofthedateitisreceivedorthatitwillcontinuetobeaccurateinthefuture.Nooneshouldactonsuchinformation
withoutappropriateprofessionaladviceafterathoroughexaminationoftheparticularsituation.
Contactus:
For further information about this
newsletter, please contact:
Ramesh Srinivas
Head - Consumer Markets
e-Mail: [email protected]
Tel: +91 80 3065 4300
Abizer Diwanji
Head - Financial Services
e-Mail: [email protected]
Tel: +91 22 3090 2380
Rajesh Jain
Head - Information, Communication &
Entertainmente-Mail: [email protected]
Tel: +91 22 3090 2370
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Head - Infrastructure & Government
e-Mail: [email protected]
Tel: +91 22 3090 1920
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Head - Industrial Markets
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Tel: +91 22 3090 2320
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