Henry's Feed
Nov 24, 2011

Time catches up with India’s traditional bazaars

NEW DELHI/MUMBAI (Reuters) – Foreign supermarket giants eyeing India may see rich pickings at New Delhi markets like Karol Bagh, where shoppers must negotiate a plethora of dubious-looking power lines, stinking rubbish piled high on sidewalks and cars parked three deep.

There is money in the narrow and clogged streets here, part of India’s $450 billion retail sector that ranks as one of the last frontier markets unpenetrated by global retailers.

Nov 23, 2011

Newsmaker: Cyrus Mistry, a Tata in all but name

MUMBAI (Reuters) – His surname may not be Tata, but Cyrus Mistry is as close as an outsider could come.

Announced on Wednesday as the heir apparent to Ratan Tata, the group’s long-standing chairman, Mistry will become head of one of India’s most storied business groups.

Nov 23, 2011

Cyrus Mistry, a Tata in all but name

MUMBAI, Nov 23 (Reuters) – His surname may not be
Tata, but Cyrus Mistry is as close as an outsider could come.

Announced on Wednesday as the heir apparent to Ratan Tata,
the group’s long-standing chairman, Mistry will become head of
one of India’s most storied business groups.

Nov 23, 2011

India power investment slows, chronic deficit worsens

MUMBAI (Reuters) – Investments into India’s power sector are slowing despite a chronic electricity shortage that threatens GDP growth, executives told the Reuters India Investment Summit, due to coal shortages, land hassles and an inability by distribution companies to raise tariffs.

Asia’s third-largest economy, where blackouts are common, faces a peak power shortage of 13 percent as rising demand from industry, homes and shopping malls outstrips capacity growth.

Nov 23, 2011

Power investment slows, chronic deficit worsens

MUMBAI (Reuters) – Investments into India’s power sector are slowing despite a chronic electricity shortage that threatens GDP growth, executives told the Reuters India Investment Summit, due to coal shortages, land hassles and an inability by distribution companies to raise tariffs.

Asia’s third-largest economy, where blackouts are common, faces a peak power shortage of 13 percent as rising demand from industry, homes and shopping malls outstrips capacity growth.

Nov 21, 2011

L&T looking overseas to beat local slowdown

MUMBAI (Reuters) – Larsen and Toubro, India’s biggest engineering conglomerate, is targeting overseas revenue growth as part of a strategy to beat a slowdown in Asia’s third-largest economy, the firm’s chief financial officer said on Monday.

Ships-to-software firm Larsen last month slashed its order growth guidance for the financial year to March, as it warned of project deferrals and sluggish investor appetite in India thanks to high interest rates and a gloomy economic outlook.

Nov 21, 2011

India’s L&T looking overseas to beat local slowdown

MUMBAI, Nov 21 (Reuters) – Larsen and Toubro (LART.NS: Quote, Profile, Research),
India’s biggest engineering conglomerate, is targeting overseas
revenue growth as part of a strategy to beat a slowdown in
Asia’s third-largest economy, the firm’s chief financial officer
said on Monday.

Ships-to-software firm Larsen last month slashed its order
growth guidance for the financial year to March, as it warned of
project deferrals and sluggish investor appetite in India thanks
to high interest rates and a gloomy economic outlook.

Nov 18, 2011

India Inc confronts slowdown from once-heady growth

MUMBAI (Reuters) – India Inc has lost its swagger.

Slowing growth, stubbornly high inflation, rising interest rates, political gridlock, gloom in the West and a sliding rupee have conspired to dampen investor and corporate sentiment in Asia’s third-largest economy.

Share prices are down 20 percent for the year, bad loans are on the rise, and companies are delaying big investments that would add much-needed industrial and infrastructure capacity.

Nov 16, 2011

BSE Sensex slumps to 4-week closing low

MUMBAI (Reuters) – The BSE Sensex fell for a fifth straight session on Wednesday to its lowest close in four weeks , as investors chipped away at gains at the end of a weak earnings season that reflected slowing domestic growth amid gloomy global economic backdrop.

The benchmark BSE index pared more than 1 percent earlier slide, lead by large falls in state-run fuel retailers after a populist move to cut petrol prices for the first time in three years, and closed 0.63 percent lower.

Nov 16, 2011

Indian shares extend fall; fuel retailers slump

MUMBAI, Nov 16 (Reuters) – Indian shares fell for a
fifth straight session on Wednesday to their lowest close in
four weeks , as investors chipped away at gains
at the end of a weak earnings season that reflected slowing
domestic growth amid gloomy global economic backdrop.

The benchmark BSE index pared more than 1 percent earlier
slide, lead by large falls in state-run fuel retailers after a
populist move to cut petrol prices for the first time in three
years, and closed 0.63 percent lower.