Related Articles
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Rolta repurchases US $ 15.00 Mn FCCBs taking the total buyback to US $ 53.31 Mn (PRESS NOTE)
Rolta India Limited is pleased to announce that it has further repurchased US $ 15.0 Million of the outstanding Foreign Currency Convertible Bonds’s ( FCCB’s), of the original issue of Zero Coupon FCCBs of US $ 150 Million due in 2012. The Bonds of the accreted value of US $ 17.8 Million have been repurchased at a discount of 15.25% resulting in a gain of US $ 2.80 Million (approx Rs.13.00 crores)…
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What will happen if the oil price falls to USD 40 per barrel again in 2010?
One should absolutely not underestimate the possibility that the oil price will fall to USD 40 per barrel again in 2010: growth in OECD countries will decline significantly from its 2009 trend; the speculative oil stockpiles may shrink; there is still enormous excess production capacity and OPEC’s discipline may disappear if oil prices start to fall…
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First quarter 2010: 2010 to be turning point for world economy (LLOYDS TSB)
In this, our inaugural World Economic Quarterly (WEQ), we focus on the G10 and E10 countries. Our G10 and E10 groups are defined as the top ten countries by gross domestic product (gdp) in each segment. The rest of the world is also analysed, but in less detail. Our approach is to recognise that investors want to focus on the fastest growing, and largest, of the world’s economies…
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India: will higher inflation lead to monetary tightening? (NATIXIS)
Since March, India has been experiencing a clear rise in inflation, primarily, but not exclusively, linked to the increase in food prices. While official forecasts for GDP growth and inflation were revised upwards in October and the stock market registered very robust growth (+120% since March), the issue of a monetary restraint has become a topic for debate…
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BANDRA KURLA COMPLEX: Mumbai’s second business district (RELIGARE)
Bandra Kurla Complex (BKC), one of Mumbai’s key business destinations, has gradually transformed itself from a secondary district to the city’s second business district (after Nariman Point) and is set to become India’s international financial centre. BKC’s G block, housing leading banks and financial institutions, has secured Maharashtra government’s nod to increase its floor space index…
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Shriram EPC Group awarded orders for Rs. 156 crore
Shriram EPC Ltd. (“SEPC”) announced that it has, along with its subsidiaries, received orders amounting to Rs. 156 crore.
Shriram EPC Ltd. (“SEPC”), is one of the leading service providers of integrated design, engineering, procurement, construction and project management services…
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From Financial Recovery to Real Recovery (CITI)
A negative feedback loop of tightening financial conditions and ever-worse real economic fundamentals is now showing the earliest hints of reversal. While the wounds in labor markets and consumer balance sheets run deep and sectorlevel problems remain, enough healing seems to have taken place that fundamentals bear a chance of surprising somewhat positively in the coming year…
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Changing Landscape of IT – ITES Outsourcing (KPMG)
Acceptance of Outsourcing as a mainstream option: Organizations have explored new ways of doing business; implemented emergency measures to improve cash flow; overcome negative growth and slipping margins in order to survive. KPMG International’s 2009 study “Nearshore Attraction: Latin America Beckons as a Global Outsourcing Destination” reveal that businesses are looking at outsourcing to play…
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ROADS & HIGHWAYS – NEXT BIG LEAP : Projected investments in Roads in 11th plan (KR CHOKSEY)
Indian road network is second largest in the world aggregating 33 lakh kilometers. Road transport is a crucial link in connecting cities and villages of India handling more than 61% of the freight and 85% of the passenger traffic in the country. National highways constitute only 2% of the total road network length; however it carries nearly 40% of the traffic on Indian roads…
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Rebalancing the U.S. Economy for a New Course (WELLS FARGO)
Trading was fundamentally transformed by the European Age of Discovery, which was pioneered by Portuguese navigators, such as Bartolomeu Dias and Vasco da Gama, who set sail down the West African coast, eventually making it to India by the end of the 16th century. The new course broke the stranglehold that the Ottoman Turks had on the overland spice trade and the considerable…
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Households consumption: an economic heavyweight but the weakest link in US recovery (ECONOMIC RESEARCH)
The improvement follows a sharp, prolonged contraction in real consumption spending in the second half of 2008 followed by a stabilisation phase in the first half of 2009 made possible by the fiscal stimulus injected at that time, with lower taxes and higher transfer incomes. In Q3 of this year, the rebound in consumption (up an annualised 2.9% according to second estimates) is mainly due to the success of the “cash for clunkers” car scrappage scheme, but not entirely so…
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Economic Cruise: Watch out for the ‘Rate-Berg’ (CITI)
We believe India is getting the platform right: a) Growth is back, and is fairly broad-based, b) Policy measures are beginning to come through, c) The fiscal shows signs of stabilising, and the Government appears cognizant of the risks on hand, and d) The RBI has signalled the exit from easy monetary policy. While this mix will support stronger and steadier growth, the unwinding of fiscal and monetary risks will likely hold back a retracement to peak growth levels or to aggressive valuations…
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MARUTI SUZUKI: Volkswagen US $2.5bn Suzuki stake – Mutually beneficial (ANGEL BROKING)
Germany’s Volkswagen (VW) has announced the purchase of a 19.9% stake in Suzuki Motors for US $2.5bn, giving it access to the Japanese firm’s expertise in small cars and to its dominance in emerging markets like India, and inching VW closer towards its objective of becoming theworld’s top automaker. The closing of the transaction is subject to the approval of the relevant authorities and is expected in January 2010…
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INVESTMENT OPPORTUNITIES IN 2010
■ After an initial rebound, global growth may be shallow, hence stimulus is likely to remain in place. Nevertheless, markets will start to factor in lower liquidity provision, so yield enhancement will be key. Investors should therefore focus on dividend yield, select risks in corporate bonds, domestic Asian growth and agricultural commodities to mitigate this transition year towards a new monetary regime…
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Factor Analysis: India Valuation Dispersion indicator (EDELWEISS)
In last couple of months the market valuations dispersion is hovering below +1.5 SD levels. As expected the market has consolidated in a broad range. The dispersion indication still points towards further consolidation in near term.
Valuation dispersion calculation methodology: PE & PB factors across the universe ( BSE-200 stocks) are ranked individually. The difference between the top & bottom deciles medians…
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Are You Ready for Another Lost Decade?
In April 2003 we published an article which posed the question, “Whither the secular Trend of Equities?” This piece laid out the case that the year 2000 was a secular or “long-term” peak for the U.S. stock market. Th e article also forecast that equity prices would experience a wide multi-year trading range as sentiment unwound from the unrealistic assumptions that pushed price earnings ratios and dividend yields to record extremes…
