Sumeet's Feed
Aug 12, 2014

Donald Trump plans investment in India betting on Modi government

MUMBAI (Reuters) – American real estate mogul Donald Trump is planning “substantial investments” in the Indian property and hotel sectors, betting on Prime Minister Narendra Modi-led new government’s efforts to revive the economic growth and boost infrastructure.

“I do see India as a great place to invest, and I think the election made that even better,” said Trump, who was in India to launch Trump Tower in Mumbai, his first project in the country’s financial capital, in collaboration with India’s Lodha Group.

Aug 3, 2014

Indian media fret as conglomerate buys up major news channel

NEW DELHI/MUMBAI, Aug 3 (Reuters) – Just before Indian
conglomerate Reliance Industries Ltd completed a deal
to take control of media group Network18 Media & Investments Ltd
in early July, two top editors stepped down.

In farewell letters to staff, both mentioned press freedoms.

Neither linked their decision to the change in ownership,
but news of their resignation prompted heated debate over the
significance of one of India’s most powerful companies buying up
some of the country’s leading newsrooms.

Jul 31, 2014

ONGC, Oil India bid $1.5 bln for stake in Murphy Oil’s Malaysia assets -sources

NEW DELHI/MUMBAI, July 31 (Reuters) – India’s state-owned
Oil & Natural Gas Corp and Oil India Ltd
have submitted a joint bid worth about $1.5 billion to buy a
stake in Murphy Oil Corp’s Malaysian oil and gas assets,
sources directly involved in the process said.

Arkansas-based Murphy, which has interests in oil and gas
fields in Malaysia, Vietnam, Indonesia, Brunei and Australia,
has invited bids for a 30 percent stake in its Malaysian assets,
Reuters previously reported.

Jul 29, 2014

Ranbaxy posts loss on provision for U.S. settlement

MUMBAI (Reuters) – Generic drugmaker Ranbaxy Laboratories Ltd (RANB.NS: Quote, Profile, Research) posted a net loss for the quarter to end-June after making a provision related to “ongoing settlement discussions” with U.S. government authorities.

The company, which has agreed to be acquired by rival Sun Pharmaceutical Industries Ltd (SUN.NS: Quote, Profile, Research), did not disclose the details of the discussions, saying it would be able to give details once the case has been settled.

Jul 29, 2014

India’s Ranbaxy posts loss on provision for US settlement

MUMBAI, July 29 (Reuters) – Indian generic drugmaker Ranbaxy
Laboratories Ltd posted a net loss for the quarter to
end-June after making a provision related to “ongoing settlement
discussions” with U.S. government authorities.

The company, which has agreed to be acquired by rival Sun
Pharmaceutical Industries Ltd, did not disclose the
details of the discussions, saying it would be able to give
details once the case has been settled.

Jul 6, 2014

Riding on Modinomics hopes, India’s indebted companies rush to lock in funds

MUMBAI, July 7 (Reuters) – Several private Indian firms want
to pay off debts by raising up to $5 billion this year through
share sales, emboldened by a surge in the stock market and an
anticipated economic recovery after Narendera Modi was elected
as prime minister.

Leading the equity issuances in the private sector are
highly leveraged firms such as GVK Power & Infrastructure Ltd
, Adani Enterprises Ltd and others in capital
intensive industries such as infrastructure, metals and
telecommunications, bankers say.

Jun 17, 2014

Ratnakar Bank plans IPO of up to $250 mln in 2015 – sources

MUMBAI (Reuters) – Ratnakar Bank Ltd plans to launch an initial public offering of shares worth up to $250 million in the first quarter of 2015, sources involved in the process said, in what will be the first Indian bank listing in four years.

The offer will include an issue of new shares as well as some of the shares owned by the bank’s private equity investors, said three sources. All the sources declined to be named as the details of the IPO are not public yet.

Jun 17, 2014

India’s Ratnakar Bank plans IPO of up to $250 mln in 2015-sources

MUMBAI, June 17 (Reuters) – India’s Ratnakar Bank Ltd
plans to launch an initial public offering of shares
worth up to $250 million in the first quarter of 2015, sources
involved in the process said, in what will be the first Indian
bank listing in four years.

The offer will include an issue of new shares as well as
some of the shares owned by the bank’s private equity investors,
said three sources. All the sources declined to be named as the
details of the IPO are not public yet.

Jun 12, 2014

Infosys names first external CEO in turnaround bid

MUMBAI (Reuters) – Infosys Ltd, India’s second-largest IT services exporter, has for the first time picked an outsider as chief executive officer, as it seeks to boost sales of high-margin services like cloud computing and stem a staff exodus.

Vishal Sikka, a former member of executive board at German software company SAP AG, has the technical savvy to herald what analysts expect will be a strategy overhaul at Infosys, which, like its competitors Tata Consultancy Services Ltd and Wipro Ltd, has relied on labour-intensive, low-margin contracts from Western clients.

Jun 12, 2014

Infosys names first external CEO; chairman Murthy to step down

MUMBAI, June 12 (Reuters) – India’s Infosys Ltd
named former SAP AG top executive Vishal Sikka as
Chief Executive Officer, the first time it has not chosen one of
its founders for the role, as it looks to regain market share
and stem a staff exodus.

India’s second-largest IT services exporter said Executive
Chairman N.R. Narayana Murthy would step down on Saturday,
nearly a year after he was brought in from retirement to help
the company better compete with rivals including Tata
Consultancy Services and Wipro.