Indian Market News Update & Trends

Market News & Trends

* TATA MOTOR : sub JLR registered 30% grwth in global sales in Nov @ 18.8k units
* GAIL : has sought $0.18 as mkting margin for APM gas.. gas is slod at APM px
and GAIL is not allowed to charge mkting margin on them
* CEMENT : media rpts shortage of rail wagons driving up cement pxs.. pxs up Rs
3-5/bag in most parts of the country
* TECH : Infosys, HCL in race to bag Australia's second biggest bank, Westpac's
$500mn outsourcing contract
* TCS : plans to scale up its "IT as a service" biz to cater to needs of small
and medium sized cos
* PNB : extends festival offer of discounted interest rates on housing loans to
borrowings upto Rs5mn fm Rs3mn
* RUCHI SOYA : plans to invest Rs1.5bn in palm plantations in India.. also in
advanced talks to acquire palm oil projects globally
* SHOPPERS STOP : plans to invest Rs 3.5bn to set up 32 stores and augment its
pan India network taking the total to 60 over next 5 yrs

Corporate News – Industry trends

* Leading steel companies such as SAIL, JSW, Essar and Bhushan
Steel may raise prices in January to cash in on the demand surge in
domestic markets (BS)

* Wipro Technologies, the global IT services business of Wipro Ltd,
has entered into a partnership for an “out-tasking” of testing services
initiative with Telefonica O2 Germany, a leading European
telecommunications company (BS)

* Improved economic conditions globally helped Tata-owned UK-based
brands Jaguar and Land Rover post 30% growth in November, selling
18,825 units compared with the same month last year (BS)

* Jagdish Khattar promoted Carnation has announced a partnership
with Rs 360bn Magneti Marelli, a Fiat Group company. The partnership
will allow Carnation, which operates 13 multi-brand auto sales and a
service network across the country (BS)

* Hindustan Copper will come out with a follow-on public offer to raise
Rs 17bn by diluting 10% stake for part-funding its expansion plans
(BS)

* The Ministry of New and Renewable Energy (MNRE) has
announced an incentive of 50 paise per unit of wind power fed by
independent power producers into the grid (BS)

* The four public sector general insurance companies — United India
Insurance, National Insurance Company, New India Assurance
and Oriental Insurance Company — have together grown at a
slightly faster rate than the private players during the April-November
period this year (BL)

* KEC International Ltd, an RPG Group company in the power
transmission EPC (engineering, procurement and construction)
business, has secured orders worth Rs 5.5bn from Algeria and Abu
Dhabi (BL)

* A unit of GVK Power and Infrastructure Ltd sold Rs6.85 bn worth of
bonds to fund the purchase of L&T’s stake in Bangalore International
Airport Ltd (Mint)

* Shoppers Stop plans to invest Rs 3.50 bn to set up 32 stores and
augment its pan-India network, taking the total to 60 over the next
five years (ET)

* Ruchi Soya Industries plans to invest Rs 1.5 bn in palm plantations
in India. It is also in advanced talks to acquire palm oil projects
globally (ET)

Economic/Regulatory development

* Wholesale food prices touched 10-year high with food inflation
inching to 19.95% for the week ended December 5, prompting
Finance Minister Pranab Mukherjee to commit food imports to maintain
supply in the domestic market (BS)

* Handloom manufacturers here have warned of an indefinite strike,
seeking a ban on the export of cotton and yarn. According to Mr G.
Subash Chandra Bose, President of Sellur Cloth Manufacturers
Association, the volatility in prices of raw materials is impairing the
sector (BL)

International trends

* The US House approved US$154 bn economic aid and a US$290 bn
rise in the legal limit on government borrowing as the House wrapped
up its legislative business for the year (BS)

* The index of US leading indicators rose for an eighth consecutive
month in November, a sign economic growth will extend into the first
half of 2010. The New York-based Conference Board’s gauge of the
outlook for the next three to six months rose 0.9%, more than
forecast, after climbing 0.3% in October (BS)

* Credit Suisse has agreed to pay US$536 mn to the United States for
flouting laws and doing business with and for countries which America
had specifically banned from its financial systems (BS)

* Australia’s second-biggest bank Westpac is seeking outsourcing
suppliers for contracts worth up to $0.5 bn, with India’s top tech firms
Infosys, HCL and others bidding against multinational rivals IBM and
HP-EDS. (ET)

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