Matthias's Feed
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.

Sep 4, 2013

Tata Motors to launch diesel Nano car by end of March

NEW DELHI, Sept 4 (Reuters) – Tata Motors will
launch a diesel-powered version of its ultra-cheap Nano by the
end of March 2014, its managing director said, hoping to
kick-start demand for the model after years of disappointing
sales.

Launched to great fanfare in 2009 as the world’s cheapest
car, the Nano has been dogged by poor sales, which slumped 27
percent in the company’s financial year that ended on March 31.

Sep 1, 2013

Speedier clearances no magic wand for India’s infrastructure logjam

NEW DELHI, Sept 2 (Reuters) – Scrambling for remedies as
investors’ faith in India sagged, the government said last week
it fast-tracked approval for a slew of infrastructure projects
worth $28 billion: but the stroke of a pen in New Delhi will not
be enough.

The government hopes that speeding up the launch of hundreds
of new power plants, highways and oil exploration blocks will
breathe new life into an economy that has fallen off its perch
as an emerging market high-flier.

Aug 25, 2013

Mumbai rape case: police round up all five suspects

NEW DELHI (Reuters) – The police have arrested all five suspects in connection with the gang-rape of a photo journalist in Mumbai last week, a senior official said on Sunday, in a case that has revived uncomfortable questions about women’s safety.

News of the attack on Thursday sparked street protests and uproar in parliament, a reaction reminiscent of the outcry that followed the rape and murder of a student in New Delhi in December.

Aug 25, 2013

Indian police round up all five suspects in Mumbai rape case

NEW DELHI (Reuters) – Indian police have arrested all five suspects in connection with the gang-rape of a photo journalist in Mumbai last week, a senior official said on Sunday, in a case that has revived uncomfortable questions about women’s safety.

News of the attack on Thursday sparked street protests and uproar in parliament, a reaction reminiscent of the outcry that followed the rape and murder of a student in New Delhi in December.

Aug 24, 2013

Indian police make second arrest in Mumbai rape case

NEW DELHI (Reuters) – Indian police arrested a second man in connection with the gang-rape of a journalist in Mumbai, an official said on Saturday, in a case that has drawn comparisons with an attack in December that led to nationwide protests and a revision of rape laws.

News of Thursday’s attack sparked street protests and uproar in parliament and put the spotlight back on women’s safety in India, where memories of the rape and murder of a student in New Delhi last December are still fresh.

Aug 24, 2013

Police make second arrest in Mumbai rape case

NEW DELHI (Reuters) – Police arrested a second man in connection with the gang-rape of a journalist in Mumbai, an official said on Saturday, in a case that has drawn comparisons with an attack in December that led to nationwide protests and a revision of rape laws.

News of Thursday’s attack sparked street protests and uproar in parliament and put the spotlight back on women’s safety in India, where memories of the rape and murder of a student in New Delhi last December are still fresh.

Aug 16, 2013

Delhi power company struggles to pay dues as blackouts loom

NEW DELHI, Aug 16 (Reuters) – Gopal Saxena, the chief
executive of a power distribution company run by Reliance
Infrastructure Ltd, which is controlled by Indian
billionaire Anil Ambani, faces a tough choice.

He could break a mandate to supply around-the-clock
electricity to 1.8 million customers in south and west Delhi, or
he could wait for two power utilities to make good on threats to
cut off supplies to his company unless they are paid $590
million owed in late payments.

Aug 12, 2013

GVK looks to reschedule debt as power business ails

NEW DELHI (Reuters) – GVK Power and Infrastructure (GVKP.NS: Quote, Profile, Research) has asked lenders to reschedule loans worth $214 million to its power business, which has been hit by gas supply shortages that have left its power plants running far below their normal capacity.

The company, whose interests span highway construction to coal mining, has asked lenders for an extended moratorium of two years on its debt, Isaac George, the chief financial officer of GVK, told Reuters by phone.