Matthias's Feed
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.

Oct 13, 2013

Bewildering Indian policies fuel needless coal imports

NEW DELHI, Oct 14 (Reuters) – Tata Power’s 1,050
Megawatt power station in the state of Jharkhand is a textbook
case of the absurd results that India’s 1970s-era coal supply
laws can produce, and why power utilities are lobbying the
government to change them.

The Maithon power station is located in the heart of India’s
vast coal belt, but a shortfall in local fuel supplies has
forced Tata to import some of the coal for the plant all the way
from Indonesia – an expensive and cumbersome alternative.

Oct 11, 2013

India’s Welspun Energy to invest $1.6 bln in solar, wind projects by 2017

NEW DELHI, Oct 11 (Reuters) – India’s Welspun Energy, which
will commission the world’s second-largest solar power plant and
two other projects by December, will invest an additional $1.6
billion in new projects over three years, its managing director
said on Friday.

The 151 MW plant in the central Indian state of Madhya
Pradesh is a part of Welspun’s push to capture a slice of the
renewable energy market that the government hopes will nearly
double in the five years to 2017.

Sep 21, 2013

Before PM’s U.S. trip, India rushes to ready nuclear deal

NEW DELHI (Reuters) – India is making a last-minute push to close a nuclear deal in time for a meeting between U.S. President Barack Obama and Prime Minister Manmohan Singh, who has made atomic energy cooperation with Washington a hallmark of his tenure.

Under the proposed deal, India would contract Toshiba’s (6502.T: Quote, Profile, Research) U.S. nuclear unit Westinghouse for preliminary works, including information sharing, a senior Indian official said. The aim is to build nuclear plants in the state of Gujarat.

Sep 20, 2013

India rushes to ready nuclear deal before Singh’s U.S. trip

NEW DELHI (Reuters) – India is making a last-minute push to close a nuclear deal in time for a meeting between U.S. President Barack Obama and Prime Minister Manmohan Singh, who has made atomic energy cooperation with Washington a hallmark of his tenure.

Under the proposed deal, India would contract Toshiba’s U.S. nuclear unit Westinghouse for preliminary works, including information sharing, a senior Indian official said. The aim is to build nuclear plants in the state of Gujarat.

Sep 17, 2013

GMR sells $35 million highway stake to slash debt

NEW DELHI (Reuters) – GMR Infrastructure(GMRI.NS: Quote, Profile, Research) has sold its majority stake in a highway project for about $35 million, as debt-laden companies step up sales of some assets to boost earnings in a sector struggling with a weak economy.

GMR, one of the country’s best known infrastructure groups, whose interests span airports to power plants, said it had sold its 74 percent stake in Ulundurpet Expressways to the India Infrastructure Fund of IDFC Ltd (IDFC.NS: Quote, Profile, Research).

Sep 17, 2013

India’s GMR sells $35 million highway stake to slash debt

NEW DELHI (Reuters) – India’s GMR Infrastructure Ltd (GMRI.NS: Quote, Profile, Research, Stock Buzz) has sold its majority stake in a highway project for about $35 million, as debt-laden companies step up sales of some assets to boost earnings in a sector struggling with a weak economy.

GMR, one of the country’s best known infrastructure groups, whose interests span airports to power plants, said it had sold its 74 percent stake in Ulundurpet Expressways to the India Infrastructure Fund of IDFC Ltd (IDFC.NS: Quote, Profile, Research, Stock Buzz).

Sep 9, 2013

India recommends big cut in mobile phone spectrum price

NEW DELHI (Reuters) – India on Monday proposed a cut of up to 60 percent in minimum auction prices for mobile phone spectrum in a response to lukewarm interest from telecom companies in two previous sales.

The proposed price cuts by the country’s telecoms regulator could get a positive response from carriers such as Bharti Airtel Ltd (BRTI.NS: Quote, Profile, Research, Stock Buzz) and Vodafone Group Plc’s (VOD.L: Quote, Profile, Research, Stock Buzz) local business in India.