Pratish's Feed
Aug 27, 2010

Scenarios: Endgames for RIM’s BlackBerry-India standoff

MUMBAI (Reuters) – Research in Motion faces an August 31 deadline to give India access to its secure email and instant messaging services or the Indian government has said it will ban those services, hurting much of corporate India.

India toughened its stance on RIM on Friday, saying any solution must pass through field trials. The government says it is concerned that militants could misuse the services to create instability.

Aug 27, 2010

Endgames for RIM’s BlackBerry-India standoff

MUMBAI, Aug 27 (Reuters) – Research in Motion (RIM.TO: Quote, Profile, Research, Stock Buzz) faces
an Aug. 31 deadline to give India access to its secure email and
instant messaging services or the Indian government has said it
will ban those services, hurting much of corporate India.

India toughened its stance on RIM on Friday, saying any
solution must pass through field trials. The government says it
is concerned that militants could misuse the services to create
instability. [ID:nSGE67Q08R]

Aug 26, 2010

Essar decides against Vodafone JV stake IPO-sources

HONG KONG/MUMBAI, Aug 26 (Reuters) – Indian
steel-to-shipping conglomerate Essar Group has decided not to
proceed with an initial public offering (IPO) of its stake in
its telecoms venture with Britain’s Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz), sources
familiar with the matter told Reuters on Thursday.

The decision comes after a dozen investment banks last month
participated in a beauty parade to bag a mandate for the IPO,
which could have raised about $1.5 billion, sources previously
had told Reuters.

Aug 24, 2010

Scenarios: What will happen to Vedanta’s bid for Cairn India?

MUMBAI (Reuters) – Vedanta Resources’ (VED.L: Quote, Profile, Research, Stock Buzz) up to $9.6 billion offer for control of Cairn India (CAIL.BO: Quote, Profile, Research, Stock Buzz) looks set to face hurdles, including a possible counter-bid from a consortium of Indian state-run energy firms.

The Indian unit of Cairn Energy (CNE.L: Quote, Profile, Research, Stock Buzz) has production-sharing contracts with the government for oil and gas exploration blocks, and the agreement says any ownership change will need federal approval.

Aug 24, 2010

What will happen to Vedanta’s bid for Cairn India?

MUMBAI, Aug 24 (Reuters) – Vedanta Resources’ (VED.L: Quote, Profile, Research) up to
$9.6 billion offer for control of Cairn India (CAIL.BO: Quote, Profile, Research) looks
set to face hurdles, including a possible counter-bid from a
consortium of Indian state-run energy firms.

The Indian unit of Cairn Energy (CNE.L: Quote, Profile, Research) has
production-sharing contracts with the government for oil and
gas exploration blocks, and the agreement says any ownership
change will need federal approval.

Aug 23, 2010

Options open to state firms for Cairn India bid – source

NEW DELHI/MUMBAI (Reuters) – All options are open for Indian state energy firms to make a counter-bid to London-based Vedanta Resources’ $9.6 billion offer for control of Cairn India, an oil ministry source said.

The senior oil ministry official, who declined to be identified, was speaking to Reuters after a media report, citing unnamed sources, said Oil and Natural Gas Corp (ONGC), GAIL and Oil India were considering a joint bid for Cairn India, a unit of the UK’s Cairn Energy.

Aug 23, 2010

Options open to India state firms for Cairn India

NEW DELHI/MUMBAI (Reuters) – All options are open for Indian state energy firms to make a counter-bid to London-based Vedanta Resources’ (VED.L: Quote, Profile, Research, Stock Buzz) $9.6 billion offer for control of Cairn India (CAIL.BO: Quote, Profile, Research, Stock Buzz), an oil ministry source said.

The senior oil ministry official, who declined to be identified, was speaking to Reuters after a media report, citing unnamed sources, said Oil and Natural Gas Corp (ONGC.BO: Quote, Profile, Research, Stock Buzz) (ONGC), GAIL (GAIL.BO: Quote, Profile, Research, Stock Buzz) and Oil India (OILI.BO: Quote, Profile, Research, Stock Buzz) were considering a joint bid for Cairn India, a unit of the UK’s Cairn Energy (CNE.L: Quote, Profile, Research, Stock Buzz).

Aug 16, 2010

Vedanta founder Agarwal is a daring dreamer

MUMBAI, Aug 16 (Reuters) – Anil Agarwal arrived in Mumbai,
India’s city of dreams, decades ago with little more than a
burning ambition to succeed.

Now the billionaire chairman of mining giant Vedanta
(VED.L: Quote, Profile, Research, Stock Buzz), he lives his dream in London but his ambition burns on.

Aug 13, 2010

Vedanta nears $8-8.5 bln Cairn India deal -source

LONDON/MUMBAI, Aug 13 (Reuters) – India-focused miner
Vedanta Resources (VED.L: Quote, Profile, Research) is close to a deal to buy a 51 percent
stake in Cairn India (CAIL.BO: Quote, Profile, Research) for $8 billion to $8.5 billion, a
source familiar with the matter told Reuters on Friday.

The deal would represent Vedanta’s first foray into oil and
gas, and help Edinburgh-based Cairn Energy (CNE.L: Quote, Profile, Research) fund an
expensive drilling programme in Greenland.

Aug 12, 2010

Tata Steel posts Q1 profit; outlook cautious

MUMBAI (Reuters) – Tata Steel(TISC.BO: Quote, Profile, Research), the world’s No. 7 steelmaker, posted a June quarter profit that lagged estimates, and warned that banking concerns and government fiscal cuts in Europe presented risks to the industry’s outlook.

Tata Steel bought Anglo-Dutch steelamker Corus, Europe’s second-largest steelmaker, in 2007 for $13 billion in the largest overseas acquisition made by an Indian company so far. The deal vaulted Tata Steel to the world’s No. 5 steelmaker at the time.