Matthias's Feed
Nov 26, 2013

Tata Power eyes more purchases in wind and solar push

NEW DELHI (Reuters) – Tata Power (TTPW.NS: Quote, Profile, Research) is looking for more acquisitions as part of a $260-million-a-year investment push into renewable energy, following last month’s purchase of a wind farm in western Gujarat from AES Corp (AES.N: Quote, Profile, Research), a senior official said.

Part of the tea-to-telecoms Tata group, the firm is India’s third-largest listed utility by revenue in the Thomson Reuters India Index.

Nov 26, 2013

India’s Tata Power eyes more purchases in wind and solar push

NEW DELHI, Nov 26 (Reuters) – India’s Tata Power
is looking for more acquisitions as part of a
$260-million-a-year investment push into renewable energy,
following last month’s purchase of a wind farm in western
Gujarat from AES Corp, a senior official said.

Part of the tea-to-telecoms Tata group, the firm is India’s
third-largest listed utility by revenue in the Thomson Reuters
India Index.

Nov 10, 2013

India PM likely to skip Sri Lanka summit amid war crimes row

NEW DELHI (Reuters) – Indian Prime Minister Manmohan Singh is likely to skip a meeting of Commonwealth leaders in Sri Lanka this week marred by long-running accusations that Colombo has failed to address the issue of war crimes against minority Tamils.

Singh’s move is seen as bowing to pressure from India’s own large Tamil population, with an eye to a general election that must be held by May 2014.

Nov 10, 2013

PM likely to skip Sri Lanka summit amid war crimes row

NEW DELHI (Reuters) – Prime Minister Manmohan Singh is likely to skip a meeting of Commonwealth leaders in Sri Lanka this week marred by long-running accusations that Colombo has failed to address the issue of war crimes against minority Tamils.

Singh’s move is seen as bowing to pressure from India’s own large Tamil population, with an eye to a general election that must be held by May 2014.

Nov 5, 2013

Tariff dodging takes its toll on highway developers

NEW DELHI (Reuters) – Flashing lights on the roof, tailgating politicians’ motorcades, smashing up toll booths, and beating up toll collectors.

Welcome to India’s network of privately run highways, where endemic toll dodging is a drag on the finances of road operators such as GVK Power and Infrastructure (GVKP.NS: Quote, Profile, Research) and Reliance Infrastructure (RLIN.NS: Quote, Profile, Research), and a deterrent to private investment in a country where poor infrastructure shaves an estimated 2 percentage points from economic growth each year.

Nov 5, 2013

Tariff dodging takes its toll on India’s highway developers

NEW DELHI, Nov 6 (Reuters) – Flashing lights on the roof,
tailgating politicians’ motorcades, smashing up toll booths, and
beating up toll collectors.

Welcome to India’s network of privately run highways, where
endemic toll dodging is a drag on the finances of road operators
such as GVK Power and Infrastructure and Reliance
Infrastructure, and a deterrent to private investment
in a country where poor infrastructure shaves an estimated 2
percentage points from economic growth each year.

Oct 30, 2013

Bharti Airtel Q2 net falls 29 pct; operating performance boosts outlook

NEW DELHI (Reuters) – Bharti Airtel Ltd’s(BRTI.NS: Quote, Profile, Research) better-than-expected operating performance and higher margins reinforced expectations that India’s long-suffering mobile phone services market is turning the corner even as the market leader reported its 15th consecutive quarter of declining profit.

Bharti shares were trading up 3.5 percent at 353.70 rupees in morning trade after rising as much as 5.5 percent on the BSE Sensex that was up 0.2 percent.

Oct 30, 2013

Bharti Airtel’s operating performance boosts outlook

NEW DELHI, Oct 30 (Reuters) – Bharti Airtel Ltd’s
better-than-expected operating performance and higher margins
reinforced expectations that India’s long-suffering mobile phone
services market is turning the corner even as the market leader
reported its 15th consecutive quarter of declining profit.

Bharti shares were trading up 3.5 percent at 353.70 rupees
in morning trade after rising as much as 5.5 percent in a Mumbai
market that was up 0.2 percent.

Oct 28, 2013

Maruti Suzuki sees higher import costs on weak rupee

NEW DELHI/MUMBAI, Oct 28 (Reuters) – India’s biggest
carmaker Maruti Suzuki said a weak rupee would
increase import expenses in the second half of its fiscal year,
after costs cuts led to a better-than-expected tripling in
quarterly net profit from a low base.

Maruti Suzuki India Ltd, like all automakers in the country,
has been battling a depreciating rupee, while the industry faces
a second year of falling sales because of high inflation and
meagre urban salary hikes in a slowing economy.

Oct 22, 2013

Tata Power mulls sale of investments, equity raising to cut debt

NEW DELHI/MUMBAI, Oct 22 (Reuters) – India’s Tata Power
may sell some investments and raise equity to help
reduce debt, a top executive said on Tuesday, as expensive
imported coal, below-cost power tariffs and a weak rupee weigh
on its earnings.

The company, a unit of the salt-to-steel Tata conglomerate,
has bled money from its flagship Mundra plant in western India,
unable to pass along the high cost of imported coal to
customers, despite a decision by a federal regulator in April
paving the way for a tariff increase.