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Sectoral SnippetsIndia Industry Information
Issue 36 - October 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
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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 36diancompanieshavestartedpostingtheircondquarterresultsandsofar,amajorityofecompaniesresultsarebetterthanthelasturquarters,supportedbylowerinterestratesdwages,andadipinthecostofrawaterials.Thefirst50companiestoannounceeirresultshaveindicatedamarkedriseinmand,reportinghighernetsalesfollowingnsistentdeclineinrevenuesduringtheevioustwoquarters.
additiontothis,industrialoutputforthe
onthofAugustrose10.4percentfromlastar,itsquickestpaceinthelast22months.Asesecondquarterresultscontinuetobenounced,thehigherindustrialoutputandluxofFIIfundshasstrengthenedtheIndianpee,causingittoappreciateinthelasttnight.
opeyoufindthiseditionofthesnippetserestingandinformative.
gards,
ssell
Russell Parera
Chief Executive Officer
KPMG in India
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
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Despiteslowingfromthehighsofaround9percentgrowthwitnessedinthepast
fewofyears,India'seconomyisexpectedtogrowcloseto6percentin2009-101.
Amidthedomesticandgloballiquiditycrunch;largedomesticsavings,lowexport
dependenceandalargeconsumptionbaseislikelytohelpsustaingrowth.
TherehasbeenanimprovementinindustrialactivitywiththeIndexofIndustrial
Production(IIP)expandingat6.8percentinyear-on-year(Y-o-Y)termsinJuly
2009.AftercontinuedlowtonegativegrowthsinceOctoberlastyear,therobust
numberswitnessedinthelasttwoconsecutivemonthsindicatethelikely
inceptionofindustrialrecoveryinIndia2.Moreover,adoubledigitgrowthin
consumerdurablessegmentforthefourthconsecutivemonthindicates
improvingdemandconditionswhichaugurwellfortheindustrialsector.
Ontheotherhand,Indiasstockmarket(BSESensex)hasrisenbyover70
percentfromitspreviouslowsearlierthisyear3 indicatingsoaringinvestor
confidence.
WhiletheIndianGovernmenthastargetedagrowthof10percentin2010-11,
someofthechallengeswhichremainaheadareasfollows:
Keepinginflationundercontrol
Ensuringinclusivegrowth
Dealingwithfutureglobalshocks,whicharelikelytoimpactcapitalflowsand
exports
Whilealleconomieshavebeenimpactedbythecrisisinsomeway,a
combinationofexpansionaryfiscalandmonetarypoliciesandstrong
fundamentalsislikelytoenableIndiatoperformbetterastheglobalrecovery
continues.
Indian Economy
Page 3 of 19
Analyst: Asmita Deshmukh2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
1ReserveBankofIndia,September11,20092 MinistryofStatisticsandProgrammeImplementation,September11,20093 BloombergasofSeptember30,2009
6
6
6.3
6.4
5 5.5 6 6.5 7
ADB
RBI
Planning
Commission
IMF
GDP Estimates for 2009
Source:Businessworld,IMFforecasts2010India
GDPat6.4%
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GM, Reva sign pact to launch electric car; Reva to unveil two new
models in India by 2011
GeneralMotorsIndia(GMI)andRevaElectricCarCompany(RECC)havereportedlyinkedanagreementtolaunchanelectriccar,ChevroletSpark,inIndia
in2010.TheelectriccarisexpectedtobemanufacturedatoneofGMIs
facilitiesatHalolorTalegaon.
Revaisreportedlyalsoplanningtolaunchtwomodels,NXR(NeXtRevaand
NXG(NeXtGeneration),inIndiabyearly2010and2011respectively.Both
modelsareexpectedtobemanufacturedatRevasnewgreenmanufacturing
facilityinBangalorewhichhasamaximumannualcapacityof30,000unitsand
islikelytobeoperationalbythefirstquarterofthenextfiscalyear.Thecompany
planstoexportabout50percentofitsproduction.
M&M to up stake in Swaraj Engines
IndianautomobilemanufacturerMahindraandMahindraLimited(M&M)is
reportedlyinplanstoincreaseitsstakeinSwarajEnginesbybuyingout
KirloskarOilEngines(KOE)stakeinthesame.Thecompanyisbelievedtobe
consolidatingitsstakeinSwarajenginesinabidtoexpanditsdieselengine
business.ThroughitsacquisitionofPunjabTractorsin2007,M&Mhelda33.2
percentstakeinSwarajEnginesanda14percentstakeinSwarajMazda.M&M
iscurrentlyinnegotiationswithKOEwhichreportedlyholdsa17.39percent
stakeinSwarajEngines.
Toyota buys stake in Tube Investments of IndiaIthasbeenreportedthatJapan-basedToyotaGrouphaspurchaseda1.5percent
stakeinTubeInvestmentsofIndia(TII)throughitsmemberfirmToyotaTsusho
Corporation.TheflagshipcompanyoftheUSD3billionMurugappaGroup,TII
manufacturesprecisionsteeltubesandstrips,cardoorframes,automotiveand
industrialchainsandbicyclesandisreportedtobeasuppliertoToyotasvendors
inIndiaandtheirdealersoverseas.
Ford India invests an additional USD 500 million for Chennai facility
FordIndiahasreportedlyformalizedanagreementtoinvestanadditionalUSD
500millioninitsmanufacturingfacilityatMaraimalainagar,nearChennai,by
signingaMemorandumofUnderstandingwiththeGovernmentofTamilNadu.
Theinvestmentisexpectedtodoublethecompanysannualproductioncapacity
to200,000cars.Theadditionalfundsarealsoexpectedtobedeployedtosetup
anewplantforthemanufactureof250,000enginesannually.Constructionof
theengineplant,whichislikelytobeoperationalnextyear,isreportedlyin
progress.
Page 4 of 19
Auto and Auto Components
Analyst: Ranjeet Javeri and Kudrat Puri2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
The Indian market is a
emendous market and it offers
ord a chance to leverage all
tellectual capability around the
orld to bring a fabulous small
ar to Indian Mulally, CEO, Ford Motors
urce: The Wall Street Journal, September 29, 2009,
hy fords Small Car is Made in India)
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Sberbank plans to foray into Indian financial services market
Russia-basedSberbank(SavingsBank)isplanningtoentertheIndianfinancial
servicemarketbyopeningbranchinNewDelhi.TheentryintotheIndianfinancialservicemarketispartofthebanksstrategytoexpanditspresencein
theemergingmarkets.IthasreceivedapprovalfromtheReserveBankofIndia
(RBI)toopenafullyoperationalbranch.
SberbankisthelargestcreditinstitutioninRussiaandtheformerSovietspace,
accountingforaboutaquarteroftheaggregateRussianbankingassetsanda
thirdofbankingcapital.ThebankintendstobuildafootholdinIndiaandChinato
generateabout5percentofnetincomeoutsideRussiaby2014.
L&T Finance to acquire DBS Cholamandalam AMC
L&TFinance,thecaptivefinancingarmofL&Tplanstoenterthemutualfundindustrybyacquiring100percentstakeinDBSCholamandalamAsset
ManagementCompany(AMC)forconsiderationofaroundUSD9.2million.The
acquisitionispartofL&TFinancesstrategytohavepresenceacrosstheentire
gamutoffinancialservicesinIndia.
DBSCholamandalamAMCisajointventureunitbetweenChennai-based
MurugappaGroupandDBSBankofSingapore.DBSCholamandalamAMCwas
formedin1996andhasbeenmanagingassetsworthUSD614.8millionwith
over2,00,000customeraccountsattheendofAugust2009.Thecompanyis
presentatover20locationsinthecountry.
World Bank approves loan for Indias PSU banks
WorldBankhasapprovedaloanofUSD4.3billionforIndiainabidtosupport
thegovernmentsmeasurestowardsminimizingtheadverseimpactofthe
globalfinancialcrisisandboostinginfrastructuredevelopment.OftheUSD4.3
billionloanamount,USD2billionmightbedirectedtowardsenhancingthe
capitalofpublicsectorbanks.AccordingtodataontheWorldBankswebsite,
thegovernmenthadidentified19bankswhichtogetherwouldneedacapital
infusionofUSD4.8billionby2011tosupporttheirgrowthandsimultaneously
retainthestateownershipnotbelow51percent.
Credit Suisse plans to launch banking operations in IndiaCreditSuissehasreceivedapprovalfromboththeReserveBankofIndia(RBI)
andSecuritiesandExchangeBoardofIndia(SEBI)tosetupbankingbusinessin
thecountry;however,CreditSuisseiswaitingforafinalapprovalfromthe
financeministry.CreditSuisseisalreadypresentintheIndianfinancialservice
marketthroughCreditSuisseFirstBostonSecuritiesandCreditSuisse
Securities.Thefinalapprovalwillallowthebanktoofferrangeofproductsand
services,includingderivativesandforexservices.
Thefinalclearancefromthefinanceministrywillopenopportunitiesforother
SwissbankstoentertheIndianfinancialservicesmarket.
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Banking and Financial Services
Analyst: Kunal Jain and Ruchika Anand2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
2.8
1.41.9 1.8 1.8 2.1
1.0
5.0
1.6
0.30.8
0.2
2.2
0.6 0.4
3.1
0.00
2.00
4.00
6.00
Gross NPA Net NPA
PNE
AxisBa
nk
KotakMah
indraBa
nkSB
Banko
fBar
oda
Banko
fIndia
ICICIB
ank
HDFC
Bank
percen
t
Gross and Net NPAs in Q1 2009 10
Source: CRISIL Research, August 24, 2009
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LG to invest USD 1 billion in the Indian Market
SouthKoreanconsumerdurablesmajorLGplanstoinvestaboutUSD1billion
inIndiaformarketingandresearchoverthenextfiveyears.TheKoreanmajor,whichhasbeeninvestingaround130milliondollarsayearonR&Dand
marketinginIndia,planstoincreasethisspendtoaround200millioneveryyear
topushsalesandexpandresearchactivities.TheR&Dandmarketing
investmentwouldbeapartfromthefundsinvestedtocreatenewcapacities
andexpansion.ThecompanyhasalreadyinvestedaroundUSD245.9millionin
settingupitstwomanufacturingplantsinIndia.
Carrefour plans its foray in India
Oneoftheworldslargestretailchains,Carrefour,islikelytoenterIndiathough
thecashandcarryformatandisexpectedtostrikeanalliancewithoneof
Indiasbiggestretailers,FutureGroup.AlthoughCarrefouriskeenonafood-
sourcingjointventure,afranchiseeagreementlooksmorelikely.FutureGroups
leadingpositionintheIndianretailmarketinthefront-end,sourcing,logistics
anddistributionisexpectedtohelpCarrefourbuildastrongpositionovernightin
India.
Johnson & Johnson expands its Indian portfolio; launches
Neutrogena brand
HealthandskincareproductsmakerJohnson&Johnsonlauncheditsglobal
beautycarebrand'Neutrogena'intheIndianmarket.Thecompanyintroduced
22productsintheskincarecategoryandplanstobringinmoreproductsfromitsglobalportfolioinfuture.Thecompanyaimstobeamongthetopfiveskin
carebrandsinIndiainthenext3-5yearsperiod.Neutrogenaisanoldglobal
brandandoffersover400productsintheinternationalmarkets.
Indian hypermarket chain enters into a licensing agreement with
US retailer
Indianretailcompany,SpencersRetail,hasenteredintoanexclusivelicensing
pactwithaUSfashionandlifestylecompany,MarcEckoEnterprises,tosellits
apparelbrandsinIndia.Aspartofthedeal,Spencersplanstoopenstandalone
MarcEckostoresinthecountryfrom2010.ThiswillbeSpencersthirdsuch
partnershipwithaglobalapparelbrand.Italreadyhasexclusivepartnerships
withtheLadybirdrangeofchildrenswearandwithUScasualwearbrand,
BeverlyHillsPoloClub(BHPC).ThepartnershipwithMarcEckoisinlinewith
Spencersstrategytofocusonspecialtylifestyleretailasafuturegrowtharea.
IthasalreadysetupfourstandaloneBHPCstoresintheNationalCapitalRegion
(NCR)andissellingtheLadybirdrange,ownedbyBritishhigh-streetretailer
Woolworths,throughitschainofhypermarkets.
Page 6 of 19
Consumer Markets and Retail
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Analyst: Sonia Topiwala
Going forward, we are going to
crease it (investment in R&D) to
round 200 million dollars every
ear (in India). India is the fastest
rowing market for us and is the
cus area. The Indian operations
ave been averaging a growth of
0 percent annuallyon Bum Shin, MD, LG Electronics India
urce: Livemint, September 24, 2009, LG to invest
D 1bn in India on marketing and R&D)
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Huge expansion plans of Marriott in Asias growth markets
MarriotthashugeexpansionplansinAsiasgrowingmarkets.Thecompany
considersAsiaasadynamicmarketandcontinuestofocusonthemarket.Itisexpectedtoaddabout16,000roomstoMarriott'sAsia-Pacificportfolio.The21
newlyannouncedhotelsincludesevenCourtyardhotelsinIndia,Chinaand
Cambodia,twoluxuryJWMarriotthotelsinChina,10MarriotthotelsinChina,
thePhilippinesandThailandandtwoRenaissanceHotelsinChina.Thecompany
alreadyhas37hotelsunderconstructionacrosstheregionandindicatesthatit
isexpectingtobuild58newhotelsby2013.
Interglobe plans 14 hotels in India in next three years
InterglobeHotels,aJVbetweenInterglobeEnterprisesandFrenchhospitality
companyAccor,planstosetup14hotelsinIndia.Thehotelsarereportedly
beingbrandedasIbis.Thecompanyplanstoexpanditsfootprintsin10Indian
citieslikeMumbai,Chennai,Bangalore,Hyderabad,Ahmedabad,Jaipurand
Nashikoverthenextthreeyears.ItislikelytoopenitssecondpropertyinPune
inOctoberthisyearwhichisexpectedtobefollowedbyanotherpropertyin
Mumbai.
Royal Orchid plans to aggressively expand in mid-market hotel
category
RoyalOrchidHotelsplanstoadd3000hotelroomsacrossIndiawithan
investmentofUSD125-208million.Theexpansionstrategyaimsatincreasing
thepresenceoftheRoyalOrchidCentralbrand.Furtherinvestmentisexpectedtobedecideduponthebusinessmodel-ownershipormanagedproperties.The
brandRoyalOrchidCentralisa4-starcontemporary,businesshotelbrand,
whichisalsoclassifiedasaneconomyhotel.Currently,thecompanys
propertiesundervariousbrandsarepresentinPune,Bangalore,Jaipur,Mysore
andGoa.MorepropertiesareexpectedtocomeupinHyderabad,NewDelhi,
Shimla,NaviMumbaiandAhmedabad.Thecompanyislookingtoexpand
throughmanagementcontractsandisintalkswithanumberofdevelopers.
Pride Hotels plans to fund its expansion through IPO and PE
PrideGroupofHotelsisplanningtofinanceitsexpansionplansthroughIPOand
PEfunding.Thecompanyislikelytoinvest~USD165milliontosetup30hotels
by2015.ItplanstotaketheIPOroutetoraiseUSD41.2millioninJanuary2010.
ItisnowlookingtoraiseUSD9.3millionthroughsecondroundofPEfunding
fromKotakRealtyFundandaMauritius-basedfund.Ithasalreadygenerated
USD51.4millionfrominternalaccruals.IthasalreadyexpendedUSD15.6
millionforitsBangalorehotelwhichisalsoapartofthis~USD165million
expansionplan.Remainingfundsareexpectedtoberaisedthroughbankterm
loansandotherfinancialinstitutions.
Page 7 of 19
Analyst: Pallavi Phatak
Hospitality
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Most hotels in the country are
xpected to maintain the room
tes at the last year's levels, as
e market is still to recover
ompletely and any further
crease will just worsen mattersJain, Pride Hotels Chairman and President of the
el and Restaurant Association of Western India
urce: Financial Express, September 18, 2009, No
e in hotel prices this festive season)
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TCS opens new delivery center in Argentina
India-basedTataConsultancyServices(TCS)hasopenedanewdeliverycenter
inBuenosAireswithaviewtoexpanditsofferingsinLatinAmerica.Thecompanyplanstoemployabout250professionalsinthiscenter.Thenew
centeristoprovideconsulting,advancedITsolutions,BusinessProcess
Outsourcing(BPO)servicesandITproductimplementationsbesidesbeingthe
company'sfirstregionalSAPcenter.Thisistheeighthglobaldeliverycenterof
TCSinLatinAmerica.
Mindtree acquires Kyocera Wireless India
Mumbai-basedMindtreehasacquiredKyoceraWirelessIndia(KWI)with
immediatepaymentofUSD6million.Furtherpaymentwouldbeasperits
revenueinFY11andFY12.Mindtreeexpectstheacquisitiontocontributeabout
USD9millioninrevenuesfortheperiodOctober2009toMarch2010,with
profitaftertaxintherangeof13-15percent.KWI,aunitofSan-Diegobased
KyoceraWireless,developscustomwirelesshandsetsforIndianservice
providersandhasabout600employeesinIndia.
HCL signs a five year engagement with Energy Future Holdings
HCLTechnologiesLtd.(HCL),oneoftheIndiasleadingITservicesproviders,
hasenteredintoafiveyeartransformationalITinfrastructuremanagement
contractwithTexas-basedEnergyFutureHoldingsCorp(EFH).Aspertheterms
ofthecontract,HCLwouldmanageEFH'sITInfrastructurelandscape
comprisingofDataCenter(DC),VoiceandDataNetworksandEndUserComputingServices.HCL'sServiceDeskwouldprovidesupporttoEFHend
users,includingdesk-sidesupport,incompletecompliancewithvarious
regulatoryframeworks.EFHisaprivately-heldenergycompanywithaportfolio
ofcompetitiveandregulatedenergysubsidiaries.
Dell acquires Perot in USD 3.9 billion cash deal
DellhasacquiredtechnologyservicesproviderPerotSystemsinatransaction
valuedatapproximatelyUSD3.9billion.TheacquisitionwouldenableDell
diversifybeyondhardwarearea,whichhasbecomeacommoditybusinesswith
lowsingle-digitmargins.ThedealwouldalsoenableDelltocompetebetternot
onlywithIBM,Accenture,HewlettPackardbutalsowithIndiantechnologyservicesplayerssuchasTCS,InfosysandWipro.Thisacquisitionwouldalso
enlargeDellsfootprintsinIndia.PerotSystemshasabout8,300employees
whileDellhascloseto12,000peopleinIndia.
Page 8 of 19
Analyst: Parnika Patil
IT / ITeS
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
ndia offers tremendous
pportunities in innovation and
arket potential. EMC's
ommitment of USD 1.5 billion
ver the next five years illustrates
e important role India will play
the company's long-term
rategic Asia Pacific JapanPJ) and global growth plans
vid Goulden, Executive Vice President and Chief
ancial Office, EMC
urce: EMC Press Release, September 9, 2009, EMC
ncrease India Investment by USD 1.5 Billion)
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Sanara Media enters in a joint venture with US animation company
SanaraMediahasenteredintoa51:49jointventurewithUS-basedWorld
StudioGrouptoset-upSanaraWSGFilms.ThejointventurecompanywillbeheadquarteredinCaliforniaandproducefamilyentertainmentfilmsand
animationprojects.ThejointventureprovidesSanaraMediaanentryintheUS
animatedfilmsmarket.SanaraMediaisexpectedtoinvestUSD10millionover
aperiodofthreeyearsintheventure.
UTVi strikes alliance with Bloomberg
GlobalbusinessnewsandinformationcompanyBloomberghasenteredinan
agreementwithUTVSoftwareCommunicationsUTViforaco-brandedbusiness
channel.BeginningOctober,thechannelisexpectedtobere-brandedas
Bloomberg-UTV.Withthealliance,UTViwouldgainaccesstotheglobalfeed
fromBloombergTelevision,the145bureausthatBloombergNewshasacross
theworld,inadditiontoitsinternationalprogrammingelements.
Den Networks raised USD 20 million in pre IPO placement
IndiancableoperatorDenNetworks,planningtoraiseUSD104millionthrough
ainitialpublicoffering(IPO),hasraisedUSD20millioninapre-IPOplacement
ofitsshareswithaMauritius-basedfund.EMSAFMauritiushasacquired
approximately4millionsharesamountingto3.9percentinthecompanyfor
USD20.8million.ThedealvaluesthecompanyatapproximatelyUSD510
million.ThetotalcablehouseholdsinIndiaareexpectedtorisefrom90million
in2009to130millionby2013.
ESPN Star Sports to launch Sports News channel in India
ESPNStarSports(ESS)isplanningtolauncha24*7sportsnewschannel
ESPNewsinIndiaandisseekingGovernmentapprovaltodownlinkthe
proposedchannel.ESS,hasalsore-launcheditschannelsacrossallAsian
countrieswithnewlogos,presentationsandgraphicandishopingthere-launch
wouldenhanceitsbrands.ESSholdsexclusivebroadcastrightstoT20
ChampionsLeague,ChampionsTrophy,FIFAWorldCupandtheT20WorldCup.
ESSisa50:50jointventurebetweenTheWaltDisneyCo-ownedESPNand
NewsCorp-ownedSTARTV.TheIndianarmcontributesapproximately45-55
percentofESStotalrevenues.
Big Cinemas plans to add 100 more screens by 2010
BigCinemaspartoftheAdlabsFilms,planstoaddaround100morescreensto
itsexistingnetworkofover200screenacross66citesinIndiaby2010.The
grouphasalsoannouncedre-organizationsonBigCinemasoperationsto
expanditsregionalmarketpenetrationandtosupportthegrowthmomentum.
TusharDhingra,COO,BigCinemaswouldhandleoperationinNorth,Eastand
CentralIndiawhileAshishSaksenaisexpectedtobeCOOoftheWestand
Southregion.AdlabsFilmsoperatesmultiplexesunderthebrandnameBig
Cinemas,hasaglobalfootprintof459screensinIndia,US,Malaysiaand
Netherlands.
Page 9 of 19
Media
Analyst: Mehul Desai2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
The addition of 14-15m TV sets
very year and a rapid change in
reference of premium channels
ill drive viewership of business
ews in India. This is where our
ssociation with Bloomberg will
eate impact for the Indian
arketnnie Screwvala, Chairman, UTV News
urce: BBC News, September 11, 2009, Indian
dia firm, Bloomberg, to share business news
tent)
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ONGC to invest USD 10 billion in E&P
State-run,Oil&NaturalGasCorporation(ONGC)isexpectedtopumpinaround
USD10billioninordertodevelopnewoilandgasfieldsandincreaseoutputfromitsexistingfields.ThecompanyislikelytospendaboutUSD3.2billionto
increaseoilproductionfromitsnewfields.ONGCalsohasplanstointensifyits
domesticexplorationandaggressivelypursueoverseasacquisitions.
Total SA withdraws from Vizag project
Frenchoilmajor,TotalSA,haswithdrawnfromtheplannedUSD10billion
refinery-cum-petrochemicalprojectatVizaginAndhraPradesh.Theglobal
economicdownturnhasreversedfortunesforrefinersandhasresultedinTotal
puttingtheirparticipationonhold.EarliertheMittalGrouphadbackedoutfrom
theproject,meaningthattheprojectnowfacesanuncertainfuture.
State-run firms shell out USD 440 Million for Oil India stake
State-runfirmsIndianOilCorporation(IOC),BharatPetroleumCorporation
Limited.(BPCL)andHindustanPetroleumCorporationLimited(HPCL)have
purchaseda10percentstakeinPublicSectorUnit(PSU)explorerOilIndiaLtd.
(OIL)forapproximatelyUSD440million.WhileOILoffered11percentfresh
equitytothepublicthroughitsInitialPublicOffering(IPO),theState-runrefiners
pickeduptheGovernment'sstakeinOILaspartofadivestmentplan.
Petronet to establish power plants
IndiaslargestLiquefiedNaturalGas(LNG)importer,PetronetLNGLimited
(PLL),issettodiversifydownstreamandsetuptwopowerplantsinthe
country.ThecompanyhasalsoplannedaUSD400millionrightsissuetopartly
fundtheprojectandtheremainingamountwouldberaisedintheformofdebt.
PLLisexpectedtosetuptwopowerplantswithacapacityof1,200MWeach,
nexttoitstwoLNGterminalsinDahejandKochi.
IOC drops EoU status for Paradip Refinery
IOChasdecidednottoaskforanexportorientedunit(EoU)statusforits
upcomingrefineryprojectinParadip,Orissa.Thisismainlybecausethelocal
demandforpetroleumproductsislikelytocontinuetobemorethanthatfromglobalusers.IOChasproposedtocompleteitsrefineryby2012inorderto
makeiteligiblefora7yeartaxholiday.
KSIDC, GAIL in pact for gas pipeline infrastructure
TheKeralaStateIndustrialDevelopmentCorporation(KSIDC)hastiedupwith
theGasAuthorityofIndiaLimited(GAIL)fordevelopinggaspipeline
infrastructure.Thenaturalgasistobesuppliedforvariousapplications,suchas
powergeneration,manufactureoffertilizersandcitygasdistribution(CGD)for
domestic,automobileandcommercialendusers,etc.Theseprojectsarelikely
tohaveapositiveeffectontheindustrialdevelopmentofthestate.
Page 10 of 19
Oil and Gas
nalyst: Sidharth Balakrishna and Suman Lala2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
t does not make sense to be an
oU, when you get incentives
om the government for selling in
e local marketthak Behuria, Chairman, Indian Oil Corporation Ltd.
urce: The Economic Times, September 16, 2009,
C sheds EoU tag for Paradip refinery)
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Orchid receives FDA approval for its Piperacillin-Tazobactam ANDAs
along with 180-day exclusivity
OrchidChemicals&PharmaceuticalsLimited,anIndianpharmaceuticalcompany,hasreceivedapprovalsfromtheUSFoodandDrugAdministration
(FDA)foritsAbbreviatedNewDrugApplications(ANDAs)forPiperacillinand
Tazobactamininjectibleform.TheapprovalscoverOrchidsgenericequivalents
in2.25g,3.375gand4.5gvialaswellas40.5g(PharmacyBulkPackage)dosage
formsandstrengths.Thecompanyhasbeengranteda180-daygenericdrug
exclusivityasithasbeendeterminedasthefirstapplicantfortheproducts.
Orchidisexpectedtolaunchtheseproductsinmarketinganddistribution
partnershipwithApotexintheUS.
UN awards contract to Shantha Biotechnics for supplying its
pentavalent vaccine SHAN5
Hyderabad-basedShanthaBiotechnics,anIndianbiotechnologycompany,has
receivedacontractworthUSD340millionfromtheUnitedNations(UN)forthe
supplyofitspentavalentvaccineSHAN5,whichisacombinationvaccineof
Diphtheria,Pertussis,Tetanus,HaemophilusinfluenzaBandHepatitisB.Thecover
periodforthecontractis201012.Thecompanyhasalsoreceivedpre-qualifications
bytheWorldHealthOrganization(WHO)forsupplyingitsothervaccines
SHANVAC-B,SHANTETRAandSHANTTtoUNagenciesglobally.Shantha
BiotechnicswasrecentlyacquiredbySanofiAventisthroughitsvaccinedivision
SanofiPasteur.
Lupin buys US rights of cholesterol lowering drug Antara
LupinLimited,oneofIndiasleadingpharmaceuticalcompanies,announcedthe
acquisitionofUSrightsforproductandrelatedassetsinclusiveofinventoryfor
cholesterolloweringdrugAntara.Thecompanyclinchedthedealwiththe
bankruptOscientPharmafor~USD39millionundertheproceduresoftheU.S.
BankruptcyCourt.AntarareportedlygeneratedsalesofUSD70millionin2008.
TheacquisitionisinlinewiththecompanysUSstrategytoincreasethesales
ofbrandeddrugswhichgenerallyhavehighermarginsthangenericdrugs.
Biocon partners with Amylin for diabetes drug
BioconLimited,oneofIndiasleadingbiotechnologycompanies,announcedanexclusiveagreementwithUS-basedAmylinPharmaceuticalsforthe
collaborativedevelopment,manufactureandcommercializationofapeptide
therapeuticforthepotentialtreatmentofdiabetes.Theagreementoffersthe
scopetoachievesynergiesbyutilizingthecapabilitiesofboththecompanies.
Bioconisexpectedtoconductresearch,trialsandmanufacturethepotential
drugbasedonAmylinsphybridtechnology,whichcombinesthe
pharmacologicaleffectsoftwopeptidehormonesintoasinglemolecularentity.
Page 11 of 19
Pharma
Analyst: Nandita Kudchadkar and Parnika Dayal
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
The Indian medical tourism
dustry is at a nascent stage, but
as an enormous potential for
ture growth and development.
his sector has the highest growth
otential after IT and BPO and will
racket India among the world's
ite healthcare providersex India, a medical referrals agency
urce: The Economic Times, September 21, 2009,
ter IT, BPO, medical tourism emerge as fastest
wing sector)
8/8/2019 Sectoral Snippets Issue36
12/19
Tata Power scouting for coal assets overseas
PrivatepowercompanyTataPowerisbelievedtobescoutingforcoalmines
abroad,includingAustraliaandMozambique,tomeetdemandforitsupcomingprojects.Thecompanycurrentlyhas30percentownershipinablockin
Indonesiathroughwhichitisabletomeet50percentofitscoalrequirement.
Tatapowerhasaninstalledcapacityof2,768mwandhassetatargetof
becominga12,000mwcompanyby2014.This12,000mwcapacityincludes
thecompany'sprojectswhichareatvariousstagesofimplementation.
BHEL bags USD 75.8 million order for 700 MWe nuclear power
project
EngineeringgiantBharatHeavyElectricalsLimited(BHEL)hasbaggedaUSD
75.8millionorderfromtheNuclearPowerCorporationofIndiaLimited(NCPIL)
forsupplyoffoursteamgeneratorsforIndia'ssecond700MWenuclearpower
station,beingsetupatRajasthanAtomicPowerProject,Kota.
BHELisexpectedtodesign,manufactureandsupplythesesteamgenerators.
Thecompanyhassofarsupplied32nuclearsteamgeneratorsforeight220
MWenuclearpowerstationsatNarora(UP),Kaiga(Karnataka)andRAPP
(Rajasthan).IthasalsosuppliedfournuclearsteamgeneratorsforIndia'sfirst
500MWenuclearpowerstationatTarapurAtomicPowerProject(Maharashtra).
NTPC signs pact with RIL for buying part of K-G D6 gas for USD
4.2/ mmbtu
Thestate-runNationalThermalPowerCorporation(NTPC),recentlysigneda
pactwithMukeshAmbani-ledRelianceIndustriestobuyapartofnaturalgas
allocatedtoitfromK-GD6fieldsatarateofUSD4.2permmBtu.
NTPCisexpectedtobuy0.61millionmetricstandardcubicmetersofgasaday
foritsplantinAntainRajasthan.Thevolumesareonlyafractionoftheone-
fourthofthe2.67mmscmdgastheGovernmenthadallocatedtoNTPC.
Thestate-runpowerutilitysignedaGasSalesandPurchaseAgreement(GSPA)
withRILandaseparateGasTransportationAgreementwithRelianceGas
TransportationInfrastructureLtd.
GE Energy to set up its 1st wind turbine unit in India
PowerGeneratorGEEnergyplanstosetupitsfirstwindturbinegeneratorplant
inthecountry.Theplantisexpectedtocommenceproductioninsecondhalfof
2010.ThefacilitywouldalsoenableGEEnergytocreatealargersourcingbase
fromIndiaforcriticalitems,includingblades,towers,gearboxes,castingsand
forgings.
Page 12 of 19
Power
Analyst: Sidharth Balakrishna and Sonam Gosalia2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Today India is ranked as the fifth
rgest market globally for wind
ower in terms of installed
apacity and this will only elevate
years to come. This is an
mportant time to be involved with
ind energy and in helping to
hape the future of our nation'snewable energy agenda
T P Chopra, President and CEO, GE India
urce: The Economic Times, September 16, 2009, GE
ergy to set up its 1st wind turbine unit in India)
8/8/2019 Sectoral Snippets Issue36
13/19
Another textile company entering real estate business
AfterCenturyTextilesandBombayDyeing,itisRaymond,theflagshipcompany
oftheSinghaniagroupwhichhasexpresseditsinteresttoenterintotherealestatebusiness.Initiallythecompanyisplanningtodevelopthesurpluslandin
Thanefordevelopingaffordablehousingpropertyusing15-20acresofsurplus
landasapartoffirstphaseofdevelopment.
Indiareit plans USD 103 million realty fund
IndiareitFundAdvisorsPrivateLtd.,promotedbyPiramalEnterprisesisplanning
tosetupsecondrealestatefundwithanoverallcorpusofUSD103million.The
fundislikelytomakeinvestmentsinprojectsinMumbai,NewDelhiandAlibaug
withafocusontheresidentialsegment.Thefundsareexpectedtoberaised
fromHighNetworthIndividuals(HNIs)andinstitutionalinvestors.Thefundwould
lookatinvestmentopportunitieswhereitcanearna20percentreturnon
investment.
Omaxe to invest USD 307 million in four projects
Realestatecompany,Omaxeisexpectedtodevelopfournewhousingprojects
ataninvestmentofUSD307millionovernextthreeyears.Theprojectswould
belocatedatFaridabad,Indore,AllahabadandChandigarhwithatotalof2000
units.ThecompanyisexpectingtohavearevenuerealizationofUSD471
millionoverthenext30months.
Safe home buying with new real estate bill
Adraftbillonrealestateregulatorisexpectedtoprotecttheinterestsof
homebuyersbyensuringtransparency.Accordingtothedraft,adeveloperwill
havetoregisteraprojectwiththeregulatorbeforehecanmarketthe
properties.Forthis,thebuilderwillhavetosubmitadocumentaryproofofland
ownershipandthemandatorylicensestotheregulatorforregistration.Once
verified,theentireinformationabouttheprojectwillbeavailableonthe
regulatorsWebsitethatwillbeaccessibletoeverybody.Theregulatorwillalso
scrutinizetheadvertisementsandnamesofbrokers.
IREO to invest USD 2 billionGlobalinvestmentfundIREOplanstoinvestUSD2billiontodevelopan
integratedtownshipwithapproximately20,000flatsinGurgaoninnextsevento
eightyears.Thetownshipwillbedevelopedwithanupmarketdesignandwould
alsocomprisehotels,educationalinstitutes,medicalfacilitiesandcommercial
spaces.
Page 13 of 19
Real Estate and SEZs
Analyst: Rajiv Parekh2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Source: Report on Real Estate, 15 September
2009, IIFL
Estimated margins on affordable
housing(INR per sq.ft.)
Saleprice 2,0002,500
FSI-adjustedcostofland 300-400
Costofconstruction 1,000
Overheads 100
Interestonland 54-90
Operatingprofit 550-900
Taxes@30% 165-275
Netprofit 385-625
Netprofitmargin 19-25%
8/8/2019 Sectoral Snippets Issue36
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Page 14 of 19
Telecom
Analyst: Neha Dayal and Rishabh Chadha2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Bharti and MTN deal called off
Themuch-awaiteddealtocreatethethirdlargestserviceproviderintheworld
hasbeencalledoff.BhartiannouncedthatthetwocompanieswerenotabletoreachcommongroundintermsofthecorporatestructureaspertheIndian
laws.TheSouthAfricangovernmentalongwiththecompanyofficialslobbiedfor
theduallistingofBhartiandMTNinSouthAfricaandIndiasoastohelpthe
companiestoseamlesslymergetheirglobaloperations.TheIndiangovernment,
whilebeinginfavorofthedeal,wasunwillingtochangeormodifythelawsfor
thesame.
Number portability by end of December
TRAIhasannouncedthatMobileNumberPortabilitywillbeimplementedby
December31,2009inallmetrosandcategoryAcircles.Theremainingcirclesin
IndiawillhaveaccesstothisfacilitybyMarch31,2010.TRAIhasissuedthe
guidelinesfortheimplementationofMNP.Thereisnoclarityonthecostofthis
serviceasofnow.
3G auctions on December 07, 2009
Thegovernmentislikelytoholdthe3GauctionsonDecember07,2009andthe
bidswillbeinvitedfromOctober26,2009toNovember13,2009.Itisalso
expectedtoholdtheauctionsforEVDO(CDMAversionof3G)andBroadband
WirelessAccesstwodayslater.Thewinnerswillberequiredtopaytheirbid
depositwithinfivedaysoftheclosureoftheauctionandpaythebalanceafter
15days.
New operators to pay three percent of revenues as 3G spectrum
fee
Datacomsolutions,telecomsubsidiaryofconsumergoodsgiantVideocon,is
believedtohaveenteredintoatowersharingagreementwithTataTeleservices.
Aspertheagreement,TataTeleservicesLimited(TTSL)islikelytoprovidethe
transmissionservicesandWirelessTataTeleInfoservicesLimited(WTTIL),the
jointventurebetweenTTSLandQuippo,willprovidethepassiveinfrastructurein
theformoftowersandshelters.Videoconhaslicensestooperatein14telecom
circlesandplanstoinvestINR10billionontowerswithinthisfiscal.Both
DatacomandTTSLarerollingouttheirGSMservicestogetherandthisagreement
islikelytobeinstrumentalinhelpingthemtosaveonoperatingcosts.
Tata Teleservices takes bill off the pulse
TataTeleserviceshasannouncedthatitwillbechargingitsCDMAcustomersper
callinsteadofthenumberofminutestheymakeacallfor.Ithasannouncedthatit
willbechargingthecustomers2centsforeverylocalcalland6centsforevery
STDcallregardlessoftheminutesofusage.
90.6% 90.9% 91.2% 91.4% 91.7% 91.9% 92.2% 92.4%
9.4% 9.1% 8.8% 8.6% 8.3% 8.1% 7.8% 7.6%
34.5%35.7%
37.0%37.9% 38.9%
39.9%41.1%
42.3%
J an ua ry Feb ru ar y Mar ch A pr il May J un e J uly Au gu st
4 00 .1 4 13 .9 4 29 .7 4 41 .4 4 52 .9 4 64 .8 4 79 .1 4 94 .1
Wir eless Wire line Teledensity
Subscriber Base and Teledensity, 2009
(July, 2009)
Source: TRAI, September 23, 2009
8/8/2019 Sectoral Snippets Issue36
15/19
Government not to allow FDI in helicopter services
TheGovernmentofIndiahasdecidednottoairlinestoinvestinlocalhelicopter
serviceproviders.Asperthecurrentguidelineshelicopterservicearerequiredtoprocureonlyanextrapermissionfromtheministryifitintendstoflyairplanes
inIndia.ThecurrentFDIguidelinesforinvestinginairlinesdonotallowaforeign
carriertoinvestinanIndiancarrier.Thefinanceministryandthedepartmentof
industrialpolicyandpromotionhavealsodecidedthatforeignhelicopterservice
providersshouldbeclassifiedasforeignairlines,whicharenotallowedtohave
directorindirectownershipinIndianairlines.
India Nepal sign new Air Service Agreement
IndiaandNepalhaverevisedtheAirServiceAgreement(ASA)toallow
increasedairtrafficbetweenthetwocountries.Asperthisagreementthetwo
countrieshaveagreedtoincreasetheweeklyseatcapacityto30,000fromthe
current6,000.ItisagreedthatNepalairlinescannowoperatetoatotal21
destinationsinIndiaandIndiancarrierscanflytosevennewdestinationsin
Nepal.TheagreementhascomeintoforceandthedesignatedNepaleseairline
wouldbeallowedtooperateupto10,000seatsperweekto/fromMumbaiand
Bangaloreeachandupto15,000seatsperweekto/fromDelhi.Thisrestriction
willbecomenullandvoidfromJanuary1,2011.Thetwocountrieshavealso
allowedthedesignatedairlinesofeachothertooperateanynumberofall-cargo
servicesbetweenthetwocountries.
Aqua Logistics files draft red herring prospectusAquaLogisticsLtd.,anintegratedlogisticssolutionsprovider,issaidtohave
fileditsDraftRedHerringProspectuswithSecuritiesandExchangeBoardof
India(SEBI)foritsplannedinitialpublicoffer(IPO).Thecompanyplanstouse
theproceedsfromtheIPOtofunditspurchaseofspecializedequipments,
expansionandestablishmentofoffices,proposedacquisitions,additional
workingcapitalrequirements,publicissueexpensesandgeneralcorporate
purposes.ThesharesareexpectedtobelistedontheNationalandBombay
StockExchanges(NSEandBSE).SaffronCapitalAdvisorsandCentrumCapital
aretheBookleadmanagersandLinkIntimeIndiaisregistrartotheissue.
Stone India to manufacture freight carsStoneIndiaLtd.,anIndianengineeringcompantmanufacturingrailway
components,throughanewsubsidiaryStoneIntermodalLtdisplanningto
enterthelogisticsbusinessandmanufacturefreightcarscapableofrunning
bothonroadsandonrailwaytracks.Thecompanyissaidtohaveformeda
technicalcollaborationwithRailRunnerNAInc.,US-basedrailproductsand
servicescompany,touseRailRunnerspatentedtechnologytomanufacture
freightcarsinIndia.StoneIndiaisplanningtoinvestaboutUSD31millionin
twophasestobuildthenewmanufacturingfacility.Thecompanyhascurrently
submittedthedesignsofthenewfreightcarstotheUnionrailministryfor
approvalandexpectstostartmanufacturingthemwithinayear.
Page 15 of 19
Transport and Logistics
Analyst: Nitin Dehadraya2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
A strong growth is expected on
e back of favorable regulatory
nvironment, greater thrust on
gistics infrastructure spending
nd the changes which we expect
om organised players gaining a
rger market presence in the
dustrynoj Mohta, Head, Crisil Research
urce: Reuters, September 23, 2009, Logistics sector
sed to grow, high spend a worry-Crisil)
8/8/2019 Sectoral Snippets Issue36
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=48.8INR
Sources
Foreword:
TheEconomicTimes,Top50coslendweighttorebound,October15,2009
TheTimesofIndia,Strengtheningrupeethreatenstherecoveryofexportsector,October20,2009
Reuters,Augustindustrialoutputup10.4pcty/y,Octover12,2009
Economy:
Businessworld,IMFforecasts2010IndiaGDPat6.4%
ReserveBankofIndiawebsite,September11,2009
Reuters,Govt.forecastsIndiasGDPat6%forFY10FM,Sept07,2009
ADBWebsite,September22,2009
Auto
TheFinancialExpress,GMinkspactwithRevaforelectricvariantofSpark,September25,2009
WheelsUnplugged,REVANXRandNXGelectriccarstobelaunchedinIndiaby2010-11,September26,2009
TheBusinessStandard,M&MmaybuyKirloskar'sstakeinSwarajEngines,September25,2009
TheTimesofIndia,ToyotabuysstakeinTubeInvestments,September21,2009
TheHinduBusinessLine,FordtoinvestRs1,500crmoreinChennaifacility,September25,2009
DowJonesInternationalNews,Continental,ModiRubbersignpact,September24,2009
BFSI:
TheEconomicTimes,Russia-basedSberbankplanstoforayintoIndianfinancialservicemarket,September14,
2009
BusinessStandard,L&TFinanceventuresintomutualfundindustry,September26,2009
Livemint,WorldBankapprovesUSD4.3billionloanforIndia,September24,2009
TheEconomicTimes,CreditSuisseplanstolaunchbankingoperationsinIndia,September30,2009
TheEconomicTimes,AxisAMCfocusonnewbusinesssegments,September13,2009
CM:
Livemint,LGtoinvestUSD1bninIndiaonmarketingandR&D,September24,2009
EconomicTimes,FutureGroup,Carrefourtieuplikely,September14,2009
BusinessStandard,Johnson&Johnsonexpandsportfolio;launchesNeutrogenabrands,September03,2009
www.indianretailforum.com,SpencersRetailEntersIntoALicensingPactWithMarcEcko,September14,2009
BusinessWeek,Mothercare'sIndiaopsgetDLFpush,September09,2009
Hospitality:
EconomicTimes,Marriottplans21newAsianhotelsamidglobaldownturn,September10,2009
BusinessStandard,Interglobetosetup14hotelsin3yrs,September10,2009
BusinessStandard,RoyalOrchidtoadd3,000hotelrooms,September28,2009
EconomicTimes,PrideGroupofHotelsplansIPOofRs200crore,eyesPEfunding,September14,2009
DNA,Thailand'sAbsoluteHoteltosetupshopinIndia,September01,2009
8/8/2019 Sectoral Snippets Issue36
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Page 17 of 19
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
IT:
1. TBusinessStandard,TCSopensnewdeliverycentreinArgentina;toemploy250,September16,2009
2. TheEconomicTimesMindtreeacquiresKyoceraWirelessIndia,Sept29,2009
3. HCLPressRelease,HCLSignsafiveyearengagementwithEnergyFutureHoldingsforITInfrastructure
ManagementServices,September17,2009
4. FinancialChronicle,DellacquiresPerotforUSD3.9billioninallcashdeal,September22,2009
5. EMCPressRelease,EMCtoIncreaseIndiaInvestmentbyUSD1.5Billion,September9,2009
Media:
EconomicTimes,SanraaMediainJVwithUSanimationco,September04,2009
EconomicTimes,ESPNStarSportstolaunchsportsnewschannel,September07,2009
Indo-AsianNewsServices,Bigcinemastoadd100morescreensby2010,September10,2009
BBCNews,Indianmediafirm,Bloomberg,tosharebusinessnewscontent,September11,2009
AsiaPulse,India'sDenNetworksraisesUSD20millioninpre-ipoplacement,September21,2009
Oil and Gas:
TheEconomicTimes,ONGCtoinvestINR50,000CroreinE&P,September14,2009
TheEconomicTimes,TotalSApullsoutofUSD10bnrefinery-cum-petrochemprojectinAP,September15,2009
TheEconomicTimes,IOC,BPCL,HPCLshelloutINR2,200Crfor10percentinOilIndia,September15,2009
TheEconomicTimes,Petronettosetuppowerplants,plansrightsissue,September17,2009
TheEconomicTimes,IOCshedsEoUtagforParadiprefinery,September16,2009
TheEconomicTimes,KSIDC,GAILinpactforgaspipelineinfra,September14,2009
Pharma:
CompanyWebsite,OrchidsPiperacillin-TazobactamANDAsreceiveUSFDAnod,September16,2009
CompanyWebsite,ShanthaBiotechnicsAwardedLargeVaccineContractsbyUnitedNationsAgency,September1,
2009
CompanyWebsite,LupinExpandsBrandedPlayAnnouncesAcquisitionofUSRightstoANTARA,September29,
2009
CompanyWebsite,BioconLimitedandAmylinPharmaceuticalsEnteraGlobalDevelopmentandCommercialization
AgreementforaNovelPeptideHybrid,September11,2009
Livemint,PharmaexportcertificatestobeissuedbyCentre,notstates,September6,2009
Pharmabiz,DCGIissuesguidelinesongrantofCoPPbyCDSCOfromOctober1,September25,2009
Power:
1 TheEconomicTimes,TataPowerscoutingforcoalassetsoverseas,September29,2009
2 TheEconomicTimesBHELbagsRs365crorderfor700MWnukepowerproject,September25,2009
3 TheEconomicTimes,NTPCsignspactwithRILforbuyingpartofK-GD6gasforUSD4.20,September23,2009
4 TheEconomicTimes,GEEnergytosetupits1stwindturbineunitinIndia,September16,2009
5 TheEconomicTimes,IOCtoformjointventurewithNPCILfornuclearpowerplants,September2,2009
Real Estate:
BusinessStandard,Raymonddiversifiesintorealestatebusiness,September18,2009
TheEconomicTimes,PiramalsIndiareitplansRs500-crrealtyfun,September17,2009
BusinessStandard,OmaxetoinvestRs1,500crinfourprojects;mullspricehike,September29,2009
TheEconomicTimes,Buyinghometogetsafer,newrealestatebillmooted,September27,2009
BusinessStandard,IREOtopumpinRs10kcrtobuild20,000houses,September25,2009
8/8/2019 Sectoral Snippets Issue36
18/19
Page 18 of 19
2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms
affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.
Telecom:
TheEconomicTimes,BhartiAirtel-MTNdealcalledoff,October01,2009
TheEconomicTimes,NumberportabilitybyendofDecember,September24,2009
TheEconomicTimes,3GauctionsonDecember07,2009,September14,2009
TheEconomicTimes,Newoperatorstopay3percentofrevenuesas3Gspectrumfee,September09,2009
TheEconomicTimes,TataTeleservicestakesbilloffthepulse,September02,2009
BusinessStandard,Governmenttoannounceuniformtelecomlicensefee,September01,2009
Transport and Logistics:
EconomicTimes,MPplanscountry'slargestintegratedlogisticspark,August24,2009
Alassets,DHFLinjointventurewithrealestateinvestorRedwoodforIndianPEfund,August10,2009
EconomicTimes,LDA,ABGPortsteamuptoofferlogisticsservicestoIndianports,August5,2009
SiliconIndia,GovtmayvestownershipofroadswithNHAI,August26,2009
Reuters,RPT-IndiatoholdroadshowforUSD20.68blnroadprojects,August31,2009
Steelguru,JSWgrouptodevelopportsinIndiaandabroad,September1,2009 FinancialExpress,DCItobuy3dredgersforINR1,722crore,August,21,2009
8/8/2019 Sectoral Snippets Issue36
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 3980 6800
Abizer Diwanji
Head - Financial Services
e-Mail: [email protected]
Tel: +91 22 3983 5301
Rajesh Jain
Head - Information, Communication &
Entertainmente-Mail: [email protected]
Tel: +91 22 3983 5300
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Head - Infrastructure & Government
e-Mail: [email protected]
Tel: +91 22 3983 5724
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