India Business Insight articles from August 2010, page 10

India Business Insight archives from August 2010

GREENDIAMZ BRINGS BIOPLASTICS TO INDIA (by commissioning a plant at Ahmedabad at a cost of Rs40 crore).
August 30, 2010... Greendiamz Biotech Ltd (GBL) has commissioned a plant at Ahmedabad at a cost of Rs40 crore to produce fully biodegradable and compostable plastic materials in India. GBL is a manufacturer of environmentally safe plastic products. GBL has set up...

STAUNCH WIMAX-BACKER INTEL TO SUPPORT LTE (if it becomes the industry standard).
August 30, 2010... Intel Corp, the promoter of Wimax is likely to support the Qualcomm-backed long term evolution (LTE) technology. Intel currently manufactures chips, which make computing devices Wimax- enabled. Intel Corp has stated that its research and...

RELIANCE BROADCAST TO SELL MEDIA SPACE ON ALL R-ADAG ASSETS (to generate revenue).
August 30, 2010... Reliance Broadcast Network Ltd (RBNL) will sell media space on all the assets of Reliance Anil Dhirubhai Ambani group (R-ADAG) across various sectors including power, telecommunications, entertainment, new media and infrastructure to generate...

BIG FORAYS INTO TV BROADCASTING (to launch three English entertainment channels - Prime, Spark and Love).
August 30, 2010... Reliance Broadcasting Network has partnered with CBS Studio International to form an equal joint venture company, Big CBS Networks, to venture into TV broadcasting space. Big CBS will launch three English entertainment channels in 2010. The...

GEORGE SOROS BUYS INTO BSE (acquires 4 percent stake from Dubai Financial for $7.2 billion).
August 30, 2010... George Soros, an investor from the US, has acquired a 4 percent stake in the Bombay Stock Exchange (BSE) for $7.2 billion. It acquired the stake from Dubai Financial. BSE has over 4,900 listed companies and as per the data of BSE, the public...

SOUTH INDIA TO GET REGIONAL AIRLINE (to import six aircrafts - three ATR-72 and three Bombardier).
August 30, 2010... The Ministry of Civil Aviation, Government of India, has given in-principle approval to Freedom Aviation Pvt Ltd (FAPL) of Mumbai to launch regional airline operations in south India. FAPL will import six aircrafts - three ATR-72 and three...

OVERSEAS INVESTMENTS BY INDIA INC TAKE A DIP (declined to $10.75 billion in 2009-2010 compared to $16.23 billion in 2008-2009).
August 30, 2010... The Ministry of Finance, Government of India, reports that overseas direct investment by corporate India declined to $10.75 billion in 2009-2010 compared to $16.23 billion in 2008- 2009 and $18.31 billion in 2007-2008. The decline has been...

METLIFE Q1 PERSISTENCY RATIO AT 84 PERCENT (compared to the average of 68 percent for private insurance companies and the industry average of 70 percent).
August 30, 2010... MetLife India, a private life insurance company, has recorded a persistency ratio of 84 percent in the first quarter ended Jun 2010 compared to the average of 68 percent for private insurance companies and the industry average of 70 percent. The...

PNB'S ONLINE REMITTANCE FACILITY (in association with the Bank of New York Mellon).
August 30, 2010... Punjab National Bank (PNB) has introduced an online remittance facility, PNB NRI Remit-India, for non-resident Indians (NRI) living in the US. PNB has tied up with the Bank of New York Mellon to launch the facility. The bank has also introduced...

A1+ FOR KARNATAKA BANK'S CDs (instruments with such rating have the lowest credit risk in the short term).
August 30, 2010... ICRA Ltd has reaffirmed A1+ rating for the Rs2,000-crore certificate of deposits (CDs) programme of Karnataka Bank. This is the highest credit-quality rating that ICRA assigns for the short-term. Instruments with such rating have the lowest...

RELIANCE LIFE TOPS IN POLICY SALES (at 2,81,810 policies in Jul 2010).
August 30, 2010... The Insurance Regulatory & Development Authority (IRDA) reports that Reliance Life Insurance has sold the maximum number of policies among the private sector insurance companies at 2,81,810 policies in Jul 2010. However, ICICI Prudential...

VIJAYA BANK TO FOCUS MORE ON BRANCH EXPANSION (by setting up 100 branches to increase CASA deposits in 2010-2011).
August 30, 2010... The Government of India has stressed the need to mobilise current account savings account (CASA) deposits to keep the cost of deposits low. Consequently, Vijaya Bank plans to expand its branch network by setting up 100 branches to increase CASA...

REMITTANCE FACILITY PACT (SIB has formed an alliance with UAE Exchange to launch a real-time remittance facility - SIB Flash).
August 30, 2010... South Indian Bank (SIB) has formed an alliance with UAE Exchange to launch a real-time remittance facility, SIB Flash, which allows a person to transfer funds to any of the 580 branches of the bank. The facility enables instant credit of funds...

AEGON RELIGARE LOOKS TO CHANGE PRODUCT MIX (resubmits three unit-linked schemes to the Insurance Regulatory & Development Authority).
August 30, 2010... In a bid to change its product mix and increase its traditional products by 10 percent from the existing 25 percent, Aegon Religare has resubmitted three unit-linked schemes to the Insurance Regulatory & Development Authority (IRDA). The...

MANAPPURAM FINANCE LOAN BOOK GROWS 68 PERCENT IN Q1 (expects to expand its advances by three times to Rs7,000 crore in 2010-2011).
August 30, 2010... Manappuram General Finance Ltd (MAGFIL) has posted a growth of 68 percent in advances at Rs4,200 crore in the first quarter ended Jun 2010 (Rs2,500 crore as at 31 Mar 2010). The growth is attributed to an advertising campaign undertaken by...

CAIRN EYES 300 MILLION BARRELS/DAY MORE FROM RAJASTHAN OIL FIELD (project has been implemented on a trial basis and CIL expects results from EoR in the next two years).
August 30, 2010... Cairn India Ltd (CIL) has initiated an enhanced oil recovery (EoR) project and expects to increase output by 300 million barrels of oil per day (BOPD) from its oil fields at Barmer in Rajasthan. The project has been implemented on a trial...

PARADEEP PHOSPHATES' PLANS (to set up additional units and expand its existing unit over a three-year period with an investment of Rs500 crore).
August 30, 2010... Paradeep Phosphates Ltd (PPL) proposes to set up additional units and expand its existing unit over a three-year period with an investment of Rs500 crore. It plans to establish a sulphuric acid plant with a capacity of 2,000 tonnes per day with...

INDIAN R&D CENTRES NOT MAKING TOP-LINE IMPACT: ZINNOV (attributed to increased focus on cost compromising aspects like innovation and competency creation).
August 30, 2010... Zinnov Management Consulting conducted a study on Global Leadership from India, which reveals that Indian research, & development (R&D) centres have evolved rapidly over the last 10 years and moved up the value curve. However, leadership...

SPIC UNITS TO BECOME FULLY OPERATIONAL FROM 1 OCT 2010 (urea production of 6.5 lakh tonnes per annum will begin in the second week of Sep 2010).
August 30, 2010... The four SPIC units located at Tuticorin will commence operations from 1 Oct 2010. The Ministry of Chemicals & Fertilisers, Government of India, is extending support for the units to become operational. Urea production of 6.5 lakh tonnes per...

LANCO SOLAR WINS PARLIAMENT POWER UNIT DEAL (to set up, commission and maintain an 80-kilowatt-peak solar plant).
August 30, 2010... Lanco Solar Energy (LSE), the solar power generation arm of Lanco Infratech Ltd, has bagged a Rs1.29-crore contract to set up a solar power unit at the Parliament House at New Delhi. LSE will be responsible for design, erection, commissioning...

TELECOM MINISTRY PLANS 500 MORE TOWERS ACROSS 31 NAXAL-HIT DISTRICTS (additional towers will increase coverage to 50 percent).
August 30, 2010... The Ministry of Communications and Information Technology, Government of India, plans to extend telecom services to Naxal- affected areas. It has directed Bharat Sanchar Nigam Ltd (BSNL) to set up 500 base stations in 31 districts of Bihar,...

ARIANESPACE KEEN TO WIDEN LAUNCH WINDOW WITH ISRO (as a back up for its rocket Vega).
August 30, 2010... Arianespace proposes to ink a joint-marketing agreement with Indian Space Research Organisation (ISRO) to co-market ISRO's polar satellite launch vehicle (PSLV) as a back up for its rocket Vega. The company also plans to bring ISRO's...

WITH ROBUST INVESTMENT PIPELINE, TAMIL NADU PLANS 25,000-ACRE LAND BANK (administrative clearances for 8,000 acres have been obtained with only the acquisition process to be completed).
August 30, 2010... The Government of Tamil Nadu plans to set up a land bank of about 25,000 acres as it expects substantial investments from several companies. Of this, administrative clearances for 8,000 acres have been obtained with only the acquisition process...

APPAREL EXPORTS DROP FOR THIRD MONTH IN A ROW (by 22.5 percent to $816 million in Jul 2010).
August 30, 2010... The Apparel Export Promotion Council (AEPC) reports that garment exports declined year-on-year (yoy) for the third successive month by 22.5 percent to $816 million in Jul 2010 owing to lower demand from the US and Europe. In 2009-2010, the US...

PRE-OPEN EQUILIBRIUM PRICE FOR CALL AUCTION (last traded price will be the equilibrium price if such a price is not discovered in the pre-open session).
August 30, 2010... The Securities & Exchange Board of India (SEBI) has announced that the last traded price will be the equilibrium price if such a price is not discovered in the pre-open session and only market orders exist. The rule will be effective...

GLOBE CAPITAL KEEN TO EXPAND IN WEST, SOUTH (operates over 600 service centres in 300 locations in India).
August 30, 2010... Globe Capital Market Ltd (GCML), an investment company, plans to expand its footprint in south and west India. The company operates over 600 service centres in 300 locations in India. GCML has targeted a growth of 20-25 percent in customer base...

NO IRREVOCABLE POWER OF ATTORNEY: SEBI (brokers cannot withhold services if a client refuses to sign a PoA).
August 30, 2010... The Securities & Exchange Board of India (SEBI) has prohibited brokerage firms from taking an irrevocable power of attorney (PoA) from clients or conducting transactions without the permission of the client. SEBI has also said that brokers...

CRANES SOFTWARE, THREE OTHERS SUSPENDED BY NSE (with effect from 3 Sep 2010).
August 30, 2010... The National Stock Exchange (NSE) has suspended Cranes Software International (CSI), Ambica Agarbathies & Aroma Industries (AAAI), Steel Tubes of India (STI) and Blue Bird (India) with effect from 3 Sep 2010. AAAI, CSI and STI were suspended...

JUTE BODY TO STUDY HARVESTING IN BENGAL DROUGHT-HIT AREAS (IJMA will conduct the study in collaboration with the Jute Corporation of India Ltd).
August 30, 2010... Indian Jute Mills Association (IJMA) plans to examine the jute harvesting process in drought-hit Murshidabad and Nadia districts of West Bengal. IJMA will conduct the study in collaboration with the Jute Corporation of India Ltd, private sellers...

KARNATAKA TO RUN PILOT PROJECT FOR CORE BANKING SOLUTIONS (in 50 post offices within the next three-four months).
August 30, 2010... The Ministry of Communications and Information Technology, Government of India has identified 100 post offices to launch core-banking solutions (CBS) on a trial basis within the next three-four months. Of this, 50 post offices are located in...

ARMY, IAF TO SET UP BASE IN CHHATTISGARH (for a major presence).
August 30, 2010... The Indian armed forces are gearing up for a major presence in Chhattisgarh. The Army sub-area command is coming up in Bilaspur and the Indian Air Force (IAF) is finalising a site near Bhilai for a new airbase. The Army base will be spread over...

GMR INFRA TO MONETISE AIRPORT LAND HOLDINGS (at Hyderabad and Delhi).
August 30, 2010... The power and infrastructure company GMR Infrastructure of Bangalore plans to unlock the value of its airport land holdings at Hyderabad and Delhi by monetising them and thereby grow revenues. The GMR group operates the Hyderabad...

THE DRIFT OF THE MAGGI (as it is losing market share to new entrants).
August 30, 2010... Maggi instant noodles, the flagship brand of Nestle, has dominated the Indian instant noodles market for almost three decades. It is now losing market share on a monthly basis to new entrants like Horlicks Foodles of GlaxoSmithKline, Knorr Soupy...

JLR TO HELP TATAS DRIVE QUALITY CARS (as Tata Motors plans to use the expertise of JLR to build a portfolio of cars that are more sophisticated than its current range).
August 30, 2010... Tata Motors is seeking help from the engineers of its British subsidiary Jaguar Land Rover (JLR) to build more refined passenger cars. It plans to use the expertise of JLR in design, noise, vibration and other aspects to build a portfolio of...

HYUNDAI SUV SANTA FE TO ROLL OUT IN OCTOBER (2010).
August 30, 2010... Hyundai Motor India Ltd (HMIL) plans to launch its sports utility vehicle (SUV) 'Santa Fe' during the festive season in Oct 2010. Santa Fe will be priced in the range of Rs22-24 lakh and will be powered by a 2.2 litre diesel engine. HMIL plans...

ADB SET TO CHANNEL INSURANCE, PENSION FUNDS INTO CORE SECTOR (in India).
August 30, 2010... Asian Development Bank (ADB) is likely to take the lead in routing long-term insurance and pension funds into the infrastructure sector in India. ADB plans to enter the Indian debt market in early 2011 to raise funds through rupee bonds to...

PSU MINING COMPANIES TO FORM 3-WAY JV FOR TAPPING COAL (in India).
August 30, 2010... The public sector undertaking (PSU) mining companies National Mineral Development Corporation (NMDC) and Coal India Ltd (CIL) are forming a 3-way joint venture (JV) with West Bengal Mineral Development and Trading Company to acquire one of the...

SMC PLANS PUBLIC ISSUE, ENTRY INTO MF BUSINESS (in two years).
August 30, 2010... The broking company SMC Group may come out with a public offer of shares in two years. It is also planning to enter the mutual fund (MF) space. The size of the proposed public issue will depend on the company's fund requirements.

SHILPI CABLE TO FILE FOR IPO (by the end of 2010).
August 30, 2010... Shilpi Cable Technologies of Delhi, which manufactures radio frequency cables, plans to raise Rs50 crore through an initial public offering (IPO) by the end of 2010. It will file the draft red herring prospectus with the Securities and Exchange...

APPLE PRICES DIP, PROCUREMENT IN HP IN FULL SWING (as apple prices have declined by 50%-60% in 2010 from 2009).
August 30, 2010... There is a surplus in the production of apples in Himachal Pradesh (HP). As a result, apple prices have declined by 50-60 percent in 2010 from 2009. The Government of HP and private agencies are procuring apples in huge quantities in HP. With...

PORT CAPACITY SET TO CROSS 1 BILLION TONNE MARK (in India).
August 30, 2010... The combined capacities of all major and non-major ports in India is expected to cross the one billion mark in Sep 2010. The nationwide capacity is now 996 million tonnes. Gujarat Maritime Board facilities will add 19 million tonnes in Sep...

JET, KINGFISHER TIE-UP PLAN HITS AIR POCKET (the probe by the Competition Commission of India into the alliance is a dampner).
August 30, 2010... The proposed tie-up between Kingfisher Airlines and Jet Airways announced in 2008 could be a perpetual non-starter. Both the companies had announced of a potential tie-up to reduce costs and enhance efficiency, anticipating a total savings of...

COAL INDIA IPO TO BE WORLD'S 2ND LARGEST IN 2010 ON PPP BASIS (after the $19.2 billion IPO of the Agricultural Bank of China).
August 30, 2010... Coal India Ltd's (CIL) initial public offering (IPO) scheduled for Oct 2010 will be the second largest IPO in the world in 2010 on a purchasing power parity (PPP) basis. The actual $3.8 billion CIL's IPO will be the second largest after the...

HPCL EYES E&P PARTNER; ARM TO ISSUE FRESH SHARES (as it plans to step up its quest for hydrocarbons).
August 30, 2010... Prize Petroleum Ltd (PPL), the oil and gas exploration arm of Hindustan Petroleum Corporation Ltd (HPCL), is scouting for a partner who will bring in sophisticated technology and funds to invest in the business as it plans to step up its quest...

NO CUSTOMS DUTY FOR CWG HELIUM BALLONS (as well as on the equipments used for the deployment of the balloons).
August 30, 2010... The Ministry of Finance, Government of India, has withdrawn customs duty on helium balloons used in the opening and closing ceremonies of the Commonwealth Games. The Ministry has decided not to impose customs duty on the balloons, technically...

COMMERCE MIN SETS UP Rs500-CRORE CONTINGENCY FUND FOR EXPORTERS (on the back of rising fears that the worst for the exporters is still not over).
August 30, 2010... The Ministry of Commerce and Industry, Government of India, has set up a contingency fund of Rs500 crore that will be doled out to exporters during Jan-Mar 2011 once the sectoral reviews are completed in Dec 2010. The Ministry has set up the...

TCIL TO DEMERGE REAL ESTATE, WAREHOUSING DIVISIONS (over the next three months to create greater value for shareholders).
August 30, 2010... The Transport Corporation of India Ltd (TCIL) is planning to de- merge its real estate and warehousing divisions over the next three months in order to create greater value for shareholders. The company intends to focus on its core activity of...

PANASONIC TO INVEST Rs1,400-CRORE IN INDIA IN NEXT THREE YEARS (to set up a technopark in north India and also establish itself as a home appliances leader).
August 30, 2010... Panasonic India Ltd (PIL) is planning to invest Rs1,400 crore in India over the next three years to set up a technopark in north India and also establish itself as a home appliances leader in the country. The company plans to change the mindset...

TOYOTA TO START TRIAL PRODUCTION OF ETIOS IN SEPTEMBER (for the Indian market, three months ahead of its proposed launch).
August 30, 2010... Toyota is planning to start trial production of its small car, Etios, in Sep 2010 for the Indian market, three months ahead of its proposed launch. Toyota operates in India through its subsidiary, Toyota Kirloskar Motors Ltd (TKML), which is...

WEAK DEMAND TO TAKE TOLL ON CEMENT (which could fall further in the coming week as demand shows no signs of revival).
August 30, 2010... Cement prices are expected to fall to the earlier levels in the Western region due to increased supply on account of many cement manufacturers from South India are diverting their stock. The price in Western region is in the range of...

RCOMM IN TALKS FOR 3G STRATEGIC TIE-UP (for its infrastructure and technology innovation unit for 3G mobile business).
August 30, 2010... Reliance Communications (RComm) is in talks with global players such as Hewlett Packard and Motorola for strategic tie-ups for its infrastructure and technology innovation unit for 3G mobile business. The company is looking for partners for...

BIYANI EYES Rs10K CRORE FROM FOODS BUSINESS IN 4 YEARS (by driving growth in the sector through vegetarian foods).
August 30, 2010... Mr. Kishore Biyani of the Future Group is eyeing Rs10,000 crore turnover from its food business over the next four years. The group's strategy is to drive growth in the sector through vegetarian foods, which are doing well. The Future...

ROLTA: 'WE EXPECT GOVERNMENT TO SPEND $100 BILLION ON NUCLEAR POWER PLANT PROJECTS' (and specialised engineering services for the nuclear power plants to be the next big opportunity).
August 30, 2010... Rolta has stated that it is expecting the Government of India to spend $100 billion on nuclear power plant projects over the next 5 -10 years. Rolta is an information technology and services provider. The company is planning to tap the...

UK'S NUVIA LOOKS TO CASH IN ON INDIA'S N-POWER PROJECTS (by offering its engineering and technical support services and a range of specialist products).
August 30, 2010... Nuclear power project specialist Nuvia of UK has set up a subsidiary in India at Delhi to cash in on the expected civil nuclear power programmes. It is setting up regional offices in Chennai and Mumbai. Nuvia is planning to offer its engineering...

CLUB MAHINDRA TO EXPAND FOOTPRINT IN INDIA, LANKA (by signing lease agreements and expanding existing land banks to aid future growth).
August 30, 2010... Club Mahindra Holidays (CMH) is scouting for land in prominent tourist locations in India and Sri Lanka for expanding its presence. The company is embarking on a range of activities, including building new properties, signing lease agreements...

ADANI-BUILT CARGO PORT AT DAHEJ TO START OPERATIONS TODAY (with the arrival of the first commercial vessel, MV Sesa Star Cosmos).
August 30, 2010... The newly-built port at Dahej in Gujarat is set to commence operations on 30 Aug 2010 with the arrival of the first commercial vessel, MV Sesa Star Cosmos. The 20 million tonnes, solid cargo port is being built by a joint venture of Adani...

GAMING INDUSTRY GROWTH TO CROSS 32% AT Rs3,100 CRORE BY 2014 (driven by a young population, rising disposable incomes and increasing wireless users).
August 30, 2010... The Maya Academy of Advanced Cinematics (MACC) has projected the Indian gaming industry's growth at a compounded annual growth rate (CAGR) of 32 percent to Rs3,100 crore by 2014. The gaming industry was worth Rs790 crore in 2009 and Rs650...

CAIRN'S MANGALA FIELD CRUDE OUTPUT CROSSES 1.25 LAKH BPD (and is projected to increase to 1.75 lakh bpd by early 2011).
August 30, 2010... Crude oil production from Cairn India's Mangala oilfields in Rajasthan has crossed the 1.25 lakh barrels per day (bpd) mark. The oil output is projected to increase to 1.75 lakh bpd by early 2011. The Mangala oilfields hold the biggest...

GUJARAT BETS BIG ON TOURISM BIZ (increases the State's tourism budget to Rs350 crore for 2010- 2011).
August 30, 2010... The Government of Gujarat, which is betting big on tourism business, has increased the State's tourism budget to Rs350 crore for 2010-2011 from Rs30 crore in 2005-2006. The Government intends to announce a new tourism policy in Oct 2010 with...

INDIA GETS BIGGEST SHARE OF WB LOANS (in 2009-2010 amongst developing countries and the world's poorest nations).
August 30, 2010... India got the biggest share of loans from the World Bank (WB) in 2009-2010 amongst developing countries and the world's poorest nations. The WB committed $9.3 billion in financial assistance to India through its lending arms, International Bank...

SPREADSHEET - ELECTRONIC TRANSACTIONS (such as electronic payment systems for speed, traceability and efficiency).
August 30, 2010... The Reserve Bank of India (RBI) has been encouraging banks to introduce electronic payment systems for speed, traceability and efficiency. Paper accounted for over 64 percent of total transactions in 2009-2010, but total value of transactions...

SHARE OF PAPER VS ELECTRONIC TRANSACTIONS (which was 64.7 percent in volume terms and 11.7 percent in value terms).
August 30, 2010... The Reserve Bank of India's (RBI) 2009-2010 annual report reveals that share of paper transactions of banks was 64.7 percent in volume terms and 11.7 percent in value terms during 2009-2010. Comparatively, electronic transactions accounted for...

COAL INDIA LTD: VALUE-ADD TO THE FORE (new strategy to meet increasing demand from the domestic power sector).
August 30, 2010... Coal India Ltd (CIL) is working on a new strategy to unleash its hidden value. CIL is planning to set up 20 coal washeries with 111 million tonnes of coal washing capacity in order to meet increasing demand from the domestic power sector. ...

RISING PRODUCTION OF COAL (production rose to 431.27 MT in 2009-2010 from 403.73 MT in 2008-2009).
August 30, 2010... Coal production rose to 431.27 million tonnes (MT) in 2009-2010 from 403.73 MT in 2008-2009. The production of coal in India was 379.46 MT in 2007-2008 and 360.91 MT in 2006-2007.

COMPANIES SPENT 20% MORE ON EMPLOYEES LAST QUARTER (spent Rs9,988 crore compared to Rs8,283 crore in Apr-Jun 2009).
August 30, 2010... A three-year study of staff costs during the first quarter of 55 public sector undertakings (PSUs) reveals that employee expenditure rose by 20.6 percent to Rs9,988 crore during Apr-Jun 2010 compared to a 12.2 percent dip at Rs8,283 crore in...

NEYVELI LIGNITE CORPORATION: NLC TO MOVE BEYOND LIGNITE TO FUEL FUTURE GROWTH (by acquiring mining assets abroad to supplement coal supplies to its 1,000 MW Tuticorin project).
August 30, 2010... Neyveli Lignite Corporation (NLC) is planning to acquire mining assets abroad in order to supplement coal supplies to its 1,000 MW Tuticorin project in Tamil Nadu and meeting coal requirements for new projects. NLC is a mini-Ratna public sector...

LIFE, PROPERTY INSURANCE PREMIUMS TO EXCEED $11.2 BILLION (as per study conducted by ASSOCHAM-McKinsey & Company).
August 30, 2010... A joint study conducted by Associated Chambers of Commerce & Industry of India (ASSOCHAM)-McKinsey & Company reveals that the total premium collection of life and property insurance industry is expected to exceed $11.2 billion by...

COUNTRY INN PVT LTD TO CONTINUE USING BRAND NAME TILL FINAL DISPOSAL (after the Supreme Court refuses to stop CIPL of New Delhi from expanding its business).
August 30, 2010... The Supreme Court has refused to stop Country Inn Pvt Ltd (CIPL) of New Delhi from expanding its business under the brand name, Country Inn. International hospitality brand Country Inn & Suites (CIS) had earlier sought to restrain CIPL from...

TN UNIV PREDICTS PRICE CRASH, ADVISES TO SELL SUNFLOWER (in the next two months immediately after the harvest as prices may decline).
August 30, 2010... The Tamil Nadu Agricultural University (TNAU) has advised farmers not to stock sunflower seeds after harvesting as there was little chance of increase in the price of the commodity. According to a study conducted by the Domestic & Export...

MoU SIGNED BETWEEN SIMS AND EASTERN UNIVERSITY, SRI LANKA (for exchange of faculty members and students for soft skills and management training).
August 30, 2010... Sri Sairam Institute of Management Studies (SIMS) of Chennai has signed a memorandum of understanding (MoU) with Eastern University of Sri Lanka. As per the MoU, both the institutions will engage in exchange of faculty members and students for...

SESA GOA PLANS Rs9K-CRORE STEEL FORAY (plans to set up steel plants in Orissa and Jharkand).
August 30, 2010... Sesa Goa plans to diversify into steelmaking with an investment of Rs6,000-9,000 crore in Orissa and Jharkand. The company has asked the Government of Orissa to transfer a memorandum of understanding signed earlier with Sterlite Iron & Steel...

TRIAL PRODUCTION OF ETIOS BEGINS NEXT MONTH (Toyota is setting up its second manufacturing facility in Bangalore).
August 30, 2010... Toyota will commence trial production of its small car Etios for the Indian market from Sep 2010. The company is investing Rs3,200 crore to set up its second manufacturing facility in Bangalore to launch its first small car in India by Dec 2010.

CRUDE OUTPUT FROM CAIRN'S FIELD (is expected to increase to 1.75 lakh barrels per day by early 2011).
August 30, 2010... Crude oil production from the Mangala oilfield in Rajasthan has exceeded the 1.25 lakh barrels per day mark and is expected to increase to 1.75 lakh barrels per day by early 2011. Crude from the oilfield is being transported to three buyer...

PPL TO SET UP NEW PLANTS (plans to invest Rs500 crore).
August 30, 2010... Paradeep Phosphates Ltd (PPL) plans to invest Rs500 crore to set up new plants and undertake major expansion work over the next three years. About Rs250 crore will be invested to set up a new Sulphuric Acid plant with a capacity of 2,000-tonne...

S2C'S PROJECT UNVIABLE: BISLERI (plans to ship glacial water from Alaska).
August 30, 2010... Bisleri has termed S2C Global Systems' plan to ship glacial water in bulk to India as unviable. S2C Global Systems plans to ship glacial water over the next six to eight months to India in tankers from Alaska.

VEDANTA STRIPPED OF INTERNATIONAL SAFETY AWARDS (as the company did not declare a chimney collapse at one of its sites).
August 30, 2010... Vedanta Resources has been stripped of international safety awards following claims that the company won the prize without declaring that a chimney collapsed at one of its sites. The awards have been withdrawn by the British Safety Council...

P&C INSURANCE INDUSTRY (is likely to exceed Rs50,000 crore in total premium by 2012- 2013).
August 30, 2010... Property and Casualty insurance (P&C) industry is likely to exceed Rs50,000 crore in total premium by 2012-2013, according to a study by Assocham and McKinsey. The industry is at present estimated at about Rs37,000 crore. The Rate of Return...

PREMIUM CHOCOLATES TAKE OFF IN INDIA (is growing at a steady rate of 30-40% per annum).
August 30, 2010... The premium chocolate market in India is growing at a steady rate of 30-40 percent per annum. The premium chocolate market accounts for 10 percent of the overall Rs2,000-crore chocolate market in India. Premium refers to those products whose...

PANTALOON RETAIL POSTS Rs76.35-CRORE PROFIT IN FY10 (consolidated turnover increases by 27.6%).(Financial report)
August 30, 2010... Pantaloon Retail has reported a consolidated profit after tax of Rs76.35 crore in 2009-2010. The company had reported a loss of Rs7.5 crore in 2008-2009. Consolidated turnover increased by 27.6 percent at Rs9,786.9 crore (Rs7,669 crore in...

CHHATTISGARH'S GDP GROWTH HIGHEST IN 2009-10 (reported a GDP growth rate of 11.49%).
August 30, 2010... Chhattisgarh has emerged as the State with the highest economic growth in 2009-2010. The State reported a GDP growth rate of 11.49 percent in constant prices to Rs60,079 crore. Gujarat has been ranked second with a GDP growth rate of 10.53...

DABHOL PLAN IN LIMBO FOR INADEQUATE GAS SUPPLY (owing to lack of assured gas supply from the KG-D6 gas field).
August 30, 2010... The proposed expansion of the Dabhol power project by 2,100 Mw from the present capacity of 1,940 Mw has been delayed owing to lack of assured gas supply from the KG-D6 gas field and inadequate number of power procuring States. Ratnagiri Gas...

METRO RAIL'S DATE WITH BANGALORE IN DECEMBER (Northern line is expected to be completed by third quarter of 2011).
August 30, 2010... The first phase of Bangalore Metro is expected to be operational by Dec 2010. The 7.5-km stretch between Baiyappanahalli and M G Road on the Eastern line is likely to be completed in three years and eight months. The Northern line is expected to...

PROBLEM OF PLENTY: ENGINEERING SEATS LYING VACANT IN WEST BENGAL (6,238 engineering seats are lying vacant after the second round of counselling).
August 30, 2010... About 6,238 engineering seats are lying vacant after the second round of counselling in West Bengal. A third round of counselling is planned between 29 and 31 Aug 2010 to fill up the vacancies. The main reason for higher number of vacant seats...

MAHARASHTRA WINEMAKERS GETS A HANGOVER FROM SURPLUS GRAPES (following 30 million litres of excess wine stock in the 2009- 2010 season).
August 29, 2010... Maharashtra is likely to witness drop in crushing of grapes for the season beginning Dec 2010 following 30 million litres of excess wine stock in the 2009-2010 season. Wine grapes have already been planted covering over 9,000 acres that could...