COMPANIES & SECTORS


Debashis Basu Debashis Basu 21 December 2010
Don’t expect an investigation by the regulator, much less any indictment, but insider trading in Ispat counter was telltale The shares of Ispat Industries climbed over 10% on Monday—well before the deal between JSW and Ispat was announced. But Monday was the last stage of the rally, propelled...

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Sucheta Dalal Sucheta Dalal  and   Debashis Basu Debashis Basu 20 December 2010
The saga of continuing losses at Ispat Industries and repeated fund injection by banks and financial institutions is over. It is reliably learnt that JSW controlled by Sajjan Jindal has clinched the deal to acquire Ispat Industries. The promoters of Ispat Industries, Promod and Vinod Mittal,...

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Debashis Basu Debashis Basu  and   Sucheta Dalal Sucheta Dalal 20 December 2010
While the Mittals brothers had run out of options to raise more cash, the financial institutions were facing Rs10,000 crore of bad loans and JSW was keen to wrap up the deal  Three things seem to have sealed Ispat Industries Ltd’s (IILs') fate – firstly, pressure from government agencies,...

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Raj Pradhan Raj Pradhan 18 December 2010
The number of M&A deals this year has surpassed that in 2007, after a lull due to the financial crisis The number of merger and acquisition (M&A) deals involving Indian companies is seeing a revival signalling the appetite of Indian business for growth at home and abroad. According to PV...

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Yogesh Sapkale Yogesh Sapkale 17 December 2010
While its stock is still going strong, near an all-time high, with falling sales in the passenger car segment, Tata Motors faces an uphill task to become a complete automaker Tata Motors Ltd, the country's largest vehicle manufacturer, faces a daunting task to revive sales in the passenger car...

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Veeresh Malik on tales from the auto sector 17 December 2010
At Rs16 crore, Bugatti Veyron costs four times more than the costliest luxury car in the country. But can such an expensive, exclusive car be a good investment, asks Veeresh Malik The big news of the last fortnight had to be the ‘launch’, in India, of Volkswagen’s (VW) new Bugatti Veyron, the...

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Veeresh Malik on tales from the auto sector 16 December 2010
The surge in auto sales seen recently is simply the outcome of heavy discounts from dealers who have been holding large inventories, says Veeresh Malik During the last week of October and early November, there was a sudden surge in automobile sales across India. Popular logic puts it down to...

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Shukti Sarma 14 December 2010
The event would have brought several foreign winemakers to the country, but the industry thinks it won’t have much of an impact; probably not, as the business is already struggling due to a glut The fourth instalment of the Indian Wine Challenge, which was scheduled to be held in Mumbai in...

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Maulik Doshi 14 December 2010
Delhi tribunal rules that sale of software can be characterised as royalty from license income, and not a ‘sale of product’ and therefore is taxable The Indian software and information technology industry is facing uncertainty in several tax issues, the most fundamental of them being the...

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Yogesh Sapkale Yogesh Sapkale 13 December 2010
Although the ADA group company does not see a 'tariff war' in 3G services, the launch of broadband services by Reliance Infotel will be the most important factor in determining the tariffs for high-speed data services Telecom services provider Reliance Communications (RCom), which launched its...

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Munira Dongre 13 December 2010
Research reports have suggested that there could be a fall in power demand, resulting in a surplus power scenario in India in a few years from now. But is this happening sooner than expected? Overall power generation in November this year was up by 5% year-on-year to 62.5 billion units, but...

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Shukti Sarma 13 December 2010
Medha Patkar insists that a project without environment clearance cannot be allowed to go ahead After saving the Nav'is of Pandora, James Cameron was in India, talking about his desire to help Bollywood make 3D films. What better place for him to be at, than the plush Lavasa township, the...

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Shukti Sarma 10 December 2010
Encouraged by the positive growth indicators in India, foreign brands as well as some domestic names which were laid low in the past couple of years, are looking to jump back on the store shelves A host of well known brands that were either struggling to get a foothold in India, or were lying...

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Munira Dongre 10 December 2010
From its meeting with CEOs and CFOs of 13 financial companies recently, HSBC has found there's a consensus that liquidity will ease only after April 2011; Basel III, IFRS are key variables for 2013; micro-finance losses are tangible; there are no worries over bribery cases or the 2G scam HSBC has...

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Moneylife Digital Team 09 December 2010
The Tata group chief has replied to the open letter written by promoter of BPL Mobile and Rajya Sabha MP in a very hard-hitting manner, something unheard of from the group. But in the end, Mr Tata has also pulled the BJP-led NDA regime into the 2G spectrum allocation controversy Industrialist...

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Sharad Matade 09 December 2010
There hasn’t been much change in the demand, but increasing raw material costs is putting pressure on steel producers to hike prices Indian steel makers may go for another price hike as surging raw material--iron ore and coking coal-prices will pressurise steel mills to increase product...

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Sucheta Dalal Sucheta Dalal  and   Debashis Basu Debashis Basu 08 December 2010
Ispat Industries has failed to live up to every commitment it made as part of the corporate debt restructuring package so generously approved by lenders in 2003. Will the lenders now act as they would if it were a small business they were dealing with?  Ispat Industries Ltd (IIL), which finds...

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Alekh Angre 08 December 2010
Not so long ago, wine producers believed they could expand the market in India significantly. It has quite turned out that way as demand is sluggish and they are burdened with unsold stocks Four years ago, wine producers dreamed of expanding the growing interest in wine in the country. Today,...

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Moneylife Digital Team 07 December 2010
Ispat Industries’ spokesperson writes to Moneylife denying closure of Nagpur plant due to cash crunch. However, the company has yet to give current production details Over the past few days, Moneylife has reported that Ispat Industries, faced with a massive cash crunch, has been forced to shut...

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Sanket Dhanorkar 07 December 2010
With SBI announcing a whopping 100bps increase in deposit rates, will the banks engage in an all-out war for deposits? High margins and tight liquidity may soon be a thing of the past The days of fat profit margins and dearth of liquidity may be a thing of the past for the Indian banking...

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