Sunday, April 27, 2008

‘The biggest opportunities we see are in India’

When British retailer Marks and Spencer Group Plc. started looking outside the UK to expand, it saw its biggest opportunity in India, ahead of China. The firm decided it had to go beyond having franchisee stores in India, and inked a £29 million (Rs230 crore) joint venture with Reliance Retail Ltd on 18 April to set up 50 stores in the country over the next five years.

Mint
http://www.livemint.com/2008/04/23235814/
8216The-biggest-opportuniti.html

India to raise 26% cap on foreign investment in the defense industry

India’s Defense Ministry plans to raise the 26% cap on foreign direct investment in the country’s defense industry, a move aimed at attracting global military and aerospace companies to invest in the country. The move will facilitate the development of a multi-role transport aircraft by the state-run Hindustan Aeronautics Ltd, the ministry said in a statement late Wednesday. The government is also keen to encourage the country’s private sector to play an active role in an industry dominated by state-run companies. Indian companies such as Larsen & Toubro and the Tata Group are in talks with global defense companies to establish manufacturing units in the country.

Livemint
http://www.livemint.com/2008/04/24151236/
India-to-raise-26-cap-on-fore.html

Morgan Stanley Seeks Piece of India Growth

Morgan Stanley is building a private-equity presence in India, the latest example of foreign investors gearing up for the chance to plow large sums into the country's growth story. The Wall Street firm said it was hiring 43-year-old Aluri Srinivasa Rao to scour India for deals. Joining Morgan Stanley from a local private-equity fund, Mr. Rao will have a $1.5 billion Asia-focused fund behind him. Morgan Stanley, which hasn't done private-equity deals in India before, will aim to deploy at least 20% of that fund into India.

The Wall Street Journal
http://online.wsj.com/article/SB120897707049738985.html
?mod=googlenews_wsj


Thursday, April 17, 2008

Business tycoons could take India ahead of China

Heaping praise on India's billionaire business leaders, a major Canadian newspaper said on Wednesday that they could take India ahead of China in the battle for economic supremacy in the 21st century.

The Economic Times
http://economictimes.indiatimes.com/
Business_tycoons_could_take_India_ahead_of_China/
articleshow/2958430.cms

Sensex up 235 pts; global cues lift sentiment

The market opened with major gains on Thursday tracking a rally in stocks overseas after corporate earnings in the US beat expectations indicating the worst of the credit crisis may be over. Back home, technology shares led the advances as investors cheered fourth quarter results released over the past couple of days. At 10:05 am, the Bombay Stock Exchange’s Sensex was up 235 points or 1.44 per cent at 16,478.79.

The Economic Times
http://economictimes.indiatimes.com/
Sensex_up_235_pts_global_cues_lift_sentiment/
articleshow/2958503.cms

Sensex up on tech stocks rally

The markets pared early losses as technology stocks rallied smartly on the back of Infosys results. The BSE sensex dropped by almost 235 points early in the session, however the 30 share index gained strength after Infosys announced its earnings for the financial year and gave a guidance that enthused investors. The sensex closed 346 points higher at 16,154, its highest closing in two weeks. The gains were across the board with the BSEs Midcap Index and Smallcap Index rising by over 1% each.

The Times of India
http://timesofindia.indiatimes.com/Business/India_Business/
Sensex_up_on_tech_stocks_rally/articleshow/2954633.cms

Infosys net rises 21% in 2007-08

The US slowdown is hitting Indian IT, but perhaps not as much as investors had anticipated. Infosys Technologies led a sharp stock market recovery on Tuesday, following its guidance of a 19% to 21% increase in revenues for fiscal 2008-2009 and an increased dividend pay-out ratio.

The Times of India
http://timesofindia.indiatimes.com/Business/India_Business/
Infosys_net_rises_21_in_2007-08/articleshow/2954647.cms

Recruitment process outsourcing in India soon

While RPO is new to India, it is already a big industry globally and some estimates suggest it is worth $30 billion. In high-growth industries, companies need to maintain a steady focus on the core, and it perhaps makes good sense to leave out the non-core business for experts to manage.

The Times of India
http://timesofindia.indiatimes.com/Business/India_Business/
Recruitment_process_outsourcing_in_India_soon/
articleshow/2957641.cms

Core sector attracts funds

India has emerged as a major destination to attract investments in the infrastructure sectors. The State Bank of India (SBI) and Australia-based Macquarie Capital Group Ltd (Macquarie) would raise a $2 billion fund to invest in the country's core sector. In another development, UK based private equity firm 3i Group raised $ 1.2 billion for the India infrastructure fund against its target of $ 1 billion. A number of other finance companies like Citibank and Blackstone also planned to raise $ 5 billion to invest in the Indian Infrastructure sector.

The Times of India
http://timesofindia.indiatimes.com/Business/India_Business/
Core_sector_attracts_funds/articleshow/2957595.cms