The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
http://blogs.ft.com/beyond-brics/2012/10/19/india-emerging-cities/#axzz29kkHb5B5 High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://blogs.ft.com/beyond-brics/2012/10/19/india-emerging-cities/#ixzz29kkeoDY9 India’s established metropolises are saturated with investment activity. Now, tier-two and tier-three cities are emerging as investment destinations and a new report from Cushman and Wakefield explains how much money is going into what – and where. India’s 2011 census recorded 53 urban centres, each with a population over 1m. Cushman & Wakefield’s report has now identified the top ten emerging cities in India (click table to enlarge) ranked by corporate investment by local groups and foreign. The volume of investment into these centres has grown sevenfold since the beginning of 2010. The report explains: Tier II and III cities offer a number of attractions for businesses such as talent pool at a lower cost, sizeable and economical land and real estate options and conducive business environments created by state and local governments. There are, of course, many differences between India’s cities, but when it comes to corporate investment all are in the chase: Almost all the cities have strong government support which seeks to broad-base the local economies… Given their size and needs, almost all the cities are looking at improving their infrastructure.
Yep 5.9% would do the UK just fine. Unfortunately for us it looks like it will be a long time coming. India's economy is still very impressive at 5.9%. Even though India was growing at double figures for a while - surely it is unsustainable for anywhere on this planet to carry on a that type of pace - so it is just natural to slow down for a while. To make a vauge comparable it's like trying run a marathan at full pace for the whole race - it is simply an impossible task. You will have moments where you will slow down to reserve stamina and then speed up again when you have recomposed yourself. As I say this is a very vague comparison but you get my drift. Unfortunately for us all those bankers went at it 100 miles an hour and crashed and burned and we will still be recovering for a while yet as they are still getting their house's in order. If you compare the UK and India then it is plain to see that UK PLC is an embarrassement at the moment. So well done India on 5.8%. I guess the reason why we are not seeing more buys is because many investors want to see what is going to happen with the market over the next month - this is regarding the presidential election and the eurozone. Which in both situations the market needs to see more clarity foremost and then after that we will see which way the wind blows. PS - Glad to hear that the boat is afloat. I am looking forward to the weekend as I have a lot to do but will be very interesting at the same time - will tell you more very soon. I do hope you have a good weekend and you are keeping well. Thank you for your kind words once again - always appreciated.
http://businesstoday.intoday.in/story/indian-economy-to-grow-5.9-in-2012-13-un/1/189164.html India is expected to see a slower economic growth of 5.9 per cent in the current fiscal even as there are reasons to believe the "economy has turned the corner", an United Nations agency report said on Thursday. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said India's growth has been slowing down since 2011, mainly on account of "severe" monetary tightening by the Reserve Bank of India. "India is projected to grow at 5.9 per cent in 2012-13 compared with 6.5 per cent in 2011-12," UN ESCAP said in the report titled 'South and South-West Asia Development Report 2012-13'. Projecting a GDP growth of 6.8 per cent for 2013-14, it said there are reasons to believe the economy has turned the corner. "Firstly, in September 2012, the government signaled its determination to pursue pending economic reforms including FDI in multi-brand retail and civil aviation and the partial phasing out of fuel subsidies," it noted. Further, the report said this year's monsoon season was not as weak as initially feared. The Indian economy has been slowing down since 2011, after clocking over 8 per cent average growth in the previous three years.
Hows the boat mate? Hope it's ship shape mate? lol - i'll get me coat. Going to have a bit to eat now - back later. PS. sawcut - thank you for your kind comments.
http://www.business-standard.com/generalnews/news/coal-mines-in-chhatrasal-mahan-to-get-green-nod-soon/67657/ Reliance Power's Chhatrasal and Essar-Hindalco's Mahan coal mines in Madhya Pradesh are likely to get green clearance soon, Environment Ministry sources said. In May, a ministerial panel had recommended conditional forest clearances for developing these two coal mines. The Group of Ministers had given green signal for Chhatrasal and Mahan coal blocks after accepting recommendations of an expert panel set up by the Environment Ministry. Click here for Cloud Computing Also Read Related Stories News Now - Def Min overrules IAF, allows Army to have own attack choppers - Airport project denies link with member of 'political family' - Rangarajan panel for removal of major controls on sugar sector - AAI directed not to levy airport dev fee at Kolkata, Chennai The sources said that all basic formalities related to the clearances have been completed and the files are with Environment Minister Jayanthi Natarajan. She is expected to clear the projects soon, they said. Anil Ambani group firm Reliance Power was alloted Chhatrasal mine for its 4,000-MW ultra-mega power project at Sasan. The Mahan coal block was jointly allocated to Essar and Hindalco for a power project. Greenpeace, a green NGO had alleged last week that the Environment Ministry has given its nod to divert the Mahan forest area in Madhya Pradesh for a coal block. The NGO, which has been campaigning against diversion of forests lands for coalblocks in the country, had termed as "appalling" the Environment Ministry's move to give clearance to Mahan coal block. Greenpeace India campaigner Priya Pillai had said that the clearance is in violation of the Forest Rights Act and is a threat to the livelihood of more than 14,000 people dependent on Mahan forests.
http://www.foxbusiness.com/news/2012/10/17/sudan-in-talks-with-essar-other-companies-to-upgrade-2-refineries/ Sudan is in talks with various global companies including U.K.-listed Essar Energy PLC (ESSR.LN) to upgrade two oil refineries in the African country, its oil minister, Awad Ahmed Al-Jaz, said Wednesday. The minister said Sudan aims to double the capacity of one of the refineries from its present 25,000 barrels per day and increase the capacity of the other refinery to 50,000 BPD from 15,000 BPD. He didn't give any timeline for finalising the contracts. The minister was speaking on the sidelines of an energy conference. Write to Saurabh Chaturvedi at saurabh.chaturvedi@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires Read more: http://www.foxbusiness.com/news/2012/10/17/sudan-in-talks-with-essar-other-companies-to-upgrade-2-refineries/#ixzz29Z9KALAu
http://www.livemint.com/Money/nGs7uA1fyzPpYZDoS3RxxJ/Mark-to-Market--What-market-expects-from-oil-companies-res.html Did Reliance Industries Ltd’s strong showing in refining for the September quarter and its higher gross refining margins buoy the stocks of the other oil companies? Not really. They’ve mostly been flat except for Essar Oil Ltd, which is marching to the tune of a different drummer. Nevertheless, since the operating environment for refining remained strong last quarter due to capacity shutdowns and steady demand, other Indian refiners such as Mangalore Refinery and Petrochemicals Ltd, Chennai Petroleum Corp. Ltd and Essar Oil are expected to report relatively good earnings. Other oil companies, however, won’t be so lucky. Let’s look at the oil marketers—Hindustan Petroleum Corp. Ltd, Indian Oil Corp. Ltd and Bharat Petroleum Corp. Ltd. Losses on selling fuel below cost remain high for them. Still, some benefits can be expected. Their second quarter results would benefit from inventory gains as crude prices are higher $14 a barrel at the quarter-end and forex gains as the rupee has appreciated by about 4%, analysts at Motilal Oswal Securities Ltd have predicted. It does not necessarily mean their fundamentals have improved materially. Profitability continues to be dependent on the government compensation. So, analysts who have assumed nil government payout for the quarter maintain that the marketers would report losses in the September quarter. “In case the payout for H1FY13E is made by the government in this quarter, OMCs (oil marketing companies) will report combined profits of about Rs.20,000 crore instead of the Rs.22,900 crore loss we are looking at,” IDFC Securities Ltd has predicted. The increase in diesel prices and the paring of the cooking gas subsidy will be reflected in the current quarter. The performance of state-run upstream oil companies—Oil and Natural Gas Corp. Ltd and Oil India Ltd—is also likely to be hit. Both companies are expected to report a year-on-year decline in net profit mainly because net price realizations are expected to be under pressure. Some of the key measures to keep a tab on for these companies include the oil and gas production numbers and the subsidy sharing proportion. Lastly, for Cairn India Ltd, too, investors would do well to track net realizations. Higher production is expected to lead to strong annual revenue and net profit growth for Cairn India.
Thank you both very much for your kind comments. IT REALLY MEANS A LOT TO ME. I am still catching up with certain information with Essar as I have missed a bit - but i will get there. It has been an interesting couple of months watching Essar and its price go to extreme lows and now bouncing back and numerous posts which have come to the board. Whilst I didn't read everything about Essar or follow like I had been doing what stuck out in my mind was how much good news came from Essar and this was pointed out by posters on this board (which i really appreciated). The doom and gloom merchants came out saying that Essar was just going one way and you should get out while you can blah blah blah. NO REAL CONVICTION OR EVIDENCE TO BACK UP THEIR SO CALLED PREDICTIONS - POSTERS ASKED THESE PEOPLE QUESTIONS AS TO WHY SUCH A SHAMBOLIC STATEMENT BUT ALAS NO REAL ANSWER WAS FORTHCOMING. SHAME ON THESE PEOPLE WHO JUST HAVEN'T GOT A CLUE The price yet still declined even whilst markets went up and up and up. Then the news came through about the tax situation and it was in favour of Essar and now we are back on track. It is looking very bright for ESSAR now and the future looks very rosy. Just need the results to really get things moving as it is slowly does it at the moment. Bear with me for the next couple of paragraphs and hopefully it will make sense at the end. As you may know - the market LOVES APPLE and when their last results didn't beat the street they took APPLE down but now things have got back on track and their are Price targets all the way up to $1500 for APPLE as they can now see APPLE have sorted out their little blip with not releasing the iphone5 and releasing the iphone 4S but now that is sorted and things are back on track As I have posted yesterday - Essar wants to get into the Fortune 500 club - This will have been read and digested by many of the big players out there. The blips are almost gone - So is it time for the market to fall in love with Essar again and is this the beginning - I know what I think.!!! Matrixmark
This is confidence for you which has already been posted here. Nayyar said that a minimum $23-billion turnover is required to enter the Fortune 500 club and with the turnover of both the oil and gas as well as power sector units, Essar Energy should be able to make the grade in a year's time. Read more at: http://indiatoday.intoday.in/story/energy-mogul-races-for-fortune-500-club-essar-energy/1/221972.html Remember this paragraph as it will help confidence if the city boys decide to take us for a nosedive again. GLA. See you soon. (tomorrow hopefully) Matrixmark.
But turf wars within the Cabinet, friction among coalition partners, continued weak government at federal and state levels and fears of alienating voters ahead of the 2014 election could still choke off Mr Chidambaram's reform drive. The Finance Ministry knows it has a "very small window" of time in which to act, a senior ministry official told Reuters. There is already disagreement among ministers over a land-acquisition Bill long sought by Indian business leaders that would make it much easier for companies to buy land for industrial and infrastructure projects. The Bill is stalled in Cabinet and it is not clear when it will be approved. The environment minister, meanwhile, has raised objections to another Chidambaram initiative - a national investment board aimed at cutting through red tape that can hold up infrastructure projects for years. "If the government were to enter into a populist mode come the FY14 budget and roll back any of the reform initiatives, risks of a (credit-rating) downgrade will rise, come next year," said Ms Radhika Rao, an economist at Forecast in Singapore. The government has already baulked at the recommendation of the Kelkar deficit-reduction panel to phase out fuel subsidies, saying it had a duty to protect India's poorest citizens. And Oil Minister Jaipal Reddy said last week he was "not so courageous" as to raise diesel prices any time soon, after a hike in mid-September sparked a nationwide strike and street protests led by opposition parties. His comment suggested the government is already viewing policy decisions through the prism of a general election due by mid-2014, when it will face a tough fight to win a third term. Those political considerations pose a challenge even for someone as single-minded and determined as Mr Chidambaram, finance minister for the third time in a storied political career. The question now is how much time India's political leaders will give him to get the economy firmly back on track.
http://news.asiaone.com/A1Business/General%2BNews/Story/A1Story20121016-377848.html NDIA'S Finance Minister, Mr P. Chidambaram, exudes the self-confidence of a man who, in the eyes of India's cheerleading financial markets, can do little wrong. In the 11 weeks since he took office, the benchmark BSE index has surged around 8 per cent, due in large part to his hard-charging drive to boost investor sentiment that had soured under his predecessor, Mr Pranab Mukherjee. But the reality is the steps taken so far will not fix the sluggish economy in the near term, and the window of opportunity for implementing game-changing reforms such as slashing government spending on fuel, food and fertiliser subsidies will narrow as campaigning for the 2014 election gets under way. "When you are fixated on equity markets and you are doing whatever you can to push them higher, that is exactly what you will see," said economist Rajeev Malik of CLSA, Singapore. "Pushing up equity markets is a lot easier than taking up some of these more difficult moves." Together with Prime Minister Manmohan Singh, Mr Chidambaram has unveiled a series of big-ticket and small-bore initiatives over the past month that were long demanded by investors and business leaders frustrated by years of policy inaction in New Delhi. According to government officials, the slew of policy announcements on lifting the bar on foreign investment in the airline, insurance, pensions and retail sectors are part of a two-step government strategy - first, pump up the financial markets, then unveil a road-map for cutting the fiscal deficit. The first step has worked. Net inflows from foreign investors have surged since Mr Chidambaram's appointment, with US$7.7 billion (S$9.4 billion) flooding into stocks and bonds since then, according to regulatory data. The next step will be more difficult. Reports published by the World Bank, International Monetary Fund (IMF), Standard & Poor's and a government panel over the past 10 days have provided sobering reminders of the huge challenges facing an economy still beset by high inflation and dragged down by ballooning current-account and fiscal deficits. The IMF sharply cut its economic-growth forecast for India for this year to 4.9 per cent from an earlier projection of 6.1 per cent growth. The Kelkar budget panel, meanwhile, warned that India was teetering on the edge of a "fiscal precipice" and called for swift action to reduce the deficit, which it said could hit 6.1 per cent of GDP this year if no action was taken. Mr Chidambaram has signalled that he is acutely aware of the dangers, telling a news conference last week that without reforms to curb the deficits, India "risked a sharp and continuing slowdown of the economy". He is expected to unveil a deficit-reduction plan soon, possibly before the Reserve Bank of India's next policy review on Oct 30. But turf wars within the Cabinet, fr
I am still here mate. So so so so sorry i haven't been on the board to post but like I have said things have been busy and they still are. Looks to me that things with Essar are on the Up and even though a LITTLE bit of a pullback maybe on the cards it's certainly looking good for Essar and the ruais has kept their promise of increased revenue and we should see a very nice upward climb after the possible pullback. The market in general seems to be wanting to climb higher and higher but I suspect that the Euro situation is going to hold it back for a while (nothing new there then). The Fed is proping up the US and they are in A LOT of debt so who really knows where it all ends. Also with the presidential election in the spotlight - then the markets will start to get a bit jittery as the market always dislikes uncertainty. So again another reason for a little pullback. It does make you wonder when is it all going to end and just get back to normality - ie - pre 2008. Hopefully we should see broker upgrades soon and the market cap value of Essar will reflect how much Essar is really worth as it is still very very undervalued. I guess we still have to wait for the market to wake up to the good news and realise that the expansions are now starting to show the real value of this undervalued company. Over the last couple of months we have seen Essar become quite manipluted all the way down to 99p which was ludicrous and these so called city boys need to be iooked at as there was no real reason at all for the price to go that low as Essar kept coming out with positive statements and the price didn't reflect this which became annoying for everybody (including myself). I guess the city boys thought they would bring the price a low as possible and raise it for their own gains (greed). We should never test those lows again as their is no real reason for it whatsoever and never has been. More certainty is now with Essar and it is showing with the sustained rises which have happened but like I say be prepared for a slight pullback due to OTHER reasons. I haven't been able to follow everything Essar but I will be fully up to speed soon enough. Hope everything is well and that life is treating you well.
Still here mate. I am not going anywhere. I should be back to posting on a regular basis in about a week. Still very very busy. I am good thanks for asking. Hope you are well to mate. Good to see new faces and old posting on here and some points have been noted. I have quite a bit to say and will save it for a week or so. How is the boat? See you soon (I will be lurking in the background in the mean time).
Thanks for the info. I should posting regular again very soon. I am still here. Hope you are well.
http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=578337
Sorry iI haven't been posting a lot recently. I have a lot going on at the moment and it is tying up a lot of my time. I should be posting a lot more soon - just very very busy at the mo. I am still here and won't go away - oh errr.
Thanks for the information. Nice spot