Mumbai: With the improvement in sentiments in markets, there is a strong wave of value buying in the private equity and mergers and acquisitions part of the markets. In November this, there has been considerable improvement in the total value of private equity and mergers and acquisition deals.
According to a study by Grant Thornton India, the total value of private equity and mergers and acquisitions deals in November increased by five times to US$ 10.1 billion from US$ 1.9 billion in the same month last year.
This is a good sign for investors who have been circumspective about investing in markets. Since, private equity players are one of the early strategic investors, which identify value investments in the markets.
According to the study by the advisory firm, in November this year, in terms of mergers and acquisitions, even though the number of inbound deals-foreign companies or their subsidiaries acquiring Indian businesses, has come down (to 12 deals from 16 deals, year on year), the total value of inbound deals has risen considerably.
The total value of inbound deals trebled to US$2.1 billion in November this year. Interestingly, the number of outbound deals-Indian companies acquiring businesses outside India and their total value, in November this year, showed remarkable improvement in November this year.
In November, the number of outbound deals shot up to 15 deals from 10 and its total value rose to US$6.7 billion from US$1.9 billion in the same month last year.
As regards, private equity deals, the total value of private equity deals in November this year, rose to US$39 billion from US$0.4 billion in November last year, indicating that private equity players are preferring concentrated exposure to their value investments.
In terms of sectors, around 52% of total value of mergers and acquisitions deals came from Oil & Gas sector, followed by Breweries & Distilleries (22%), and Plastics & Chemicals (11%), while the remaining value of the mergers and acquisitions came from Pharma, healthcare & Biotech and Banking and Financial services.
Success in my Habit
Monday, December 17, 2012
India-Asean pact on services, investments likely early next year: Malaysian Minister
Hyderabad: The India-Asean agreement on services and investments is likely to be concluded by early next year paving the way for further co-operation, according to Mustapa Mohamed, Malaysian Minister for Trade and Industry.
"The talks are at an advanced stage including at Djakarta and we hope the agreement will be concluded early next year. In fact, it was expected to be reached last year," he said.
The Association of South East Asia Nations hope this will open up opportunities and strengthen the earlier agreement signed on trade.
Speaking to newspersons, he hoped that the Malaysia India trade will top $15 billion (US) by 2015, up from $12.5 billion recorded during 2011. About 51 per cent of Malaysian exports comprise manufactured products such as electrical and electronic.
A high-powered Malaysian delegation is on India tour interacting with industries, State and Central Government representatives seeking to further strengthen the trade ties. Malaysia is keen to attract Indian small and medium-sized businesses to locate their bases and expand trade in the region.
He felt that India with a population of about 1.2 billion and ASEAN with 600 million, the opportunities abound.
The Trade Minister said that a Malaysian company has made big inroads into the mono-rail opportunity in India with its first project in Mumbai and two projects in Brazil. It is in talks with several major cities including Kolkata for setting up mono rail networks, he said.
Referring to infrastructure opportunity, he said Malaysia is engaged with development of about 1,000 km of road network in India and is keen to play a role in other infrastructure projects, housing sector and MRO facilities.
Male Issue
Referring to the Male airport issue, he said, "The Malaysian Government would negotiate with the Maldives counterpart on the [Male airport] issue. Being a partner for the airport project with GMR, we have been affected. I believe Governments should respect contracts. However, we hope they (Maldives Government) would compensate us for the loss."
"The talks are at an advanced stage including at Djakarta and we hope the agreement will be concluded early next year. In fact, it was expected to be reached last year," he said.
The Association of South East Asia Nations hope this will open up opportunities and strengthen the earlier agreement signed on trade.
Speaking to newspersons, he hoped that the Malaysia India trade will top $15 billion (US) by 2015, up from $12.5 billion recorded during 2011. About 51 per cent of Malaysian exports comprise manufactured products such as electrical and electronic.
A high-powered Malaysian delegation is on India tour interacting with industries, State and Central Government representatives seeking to further strengthen the trade ties. Malaysia is keen to attract Indian small and medium-sized businesses to locate their bases and expand trade in the region.
He felt that India with a population of about 1.2 billion and ASEAN with 600 million, the opportunities abound.
The Trade Minister said that a Malaysian company has made big inroads into the mono-rail opportunity in India with its first project in Mumbai and two projects in Brazil. It is in talks with several major cities including Kolkata for setting up mono rail networks, he said.
Referring to infrastructure opportunity, he said Malaysia is engaged with development of about 1,000 km of road network in India and is keen to play a role in other infrastructure projects, housing sector and MRO facilities.
Male Issue
Referring to the Male airport issue, he said, "The Malaysian Government would negotiate with the Maldives counterpart on the [Male airport] issue. Being a partner for the airport project with GMR, we have been affected. I believe Governments should respect contracts. However, we hope they (Maldives Government) would compensate us for the loss."
Saturday, December 15, 2012
Hitachi to invest Rs 4,700 cr over 3 years to fortify presence
New Delhi: Japanese major Hitachi plans to invest Rs 4,700 crore in India to set up new manufacturing plants, acquisitions and strengthening collaboration with Indian companies by fiscal 2015.
Hiroaki Nakanishi President Hitachi said, “We expect to nearly triple our consolidated revenues to Rs 200 billion (Rs 20,000 crore) from the current Rs 67 billion (Rs 6,700 crore) by the fiscal year 2015. We will increase our employee strength from about 6,800 to 13,000 in this period.” He said that the company is eyeing acquisitions in social infrastructure and engineering services, but did not give any specific details.
Nakanishi was in India for the company’s first board meeting held outside Japan indicating the importance of the Indian market.
“Slowdown of economy is not only happening in India, it is a global issue. We have to manage business between this. We do not change the priority or investment decisions in the current scenario of the Indian economy,” he said though adding that the company is facing challenges such as differences between Union and State Government policies as well as slower pace of growth than the company’s expectations. The company, for instance, had to adjust output of auto components due to the slowdown in vehicle sales.
“We plan to use India as a base for expanding business into Africa and West Asia ,” he added. This will be largely for the construction machinery and the infrastructure systems.
Local production
The company will focus on expanding its businesses for local production for the domestic market through increasing localisation.
It will expand manufacturing and sales of power electronics products made by Hi-Rel Power Electronics and Hitachi NeST Control System besides promoting local production in its construction machinery business. Hitachi’s other plans for expansion include increasing local production of its industrial packaged air-conditioners and maintaining market share in high-end room air conditioners.
The company also plans to start a new auto components factory in Chennai besides automotive powder metal and brake factory in Neemrana.
It plans to strengthen partnership with Indian companies to expand business base in power systems such as expanding booking orders for thermal power generation systems by BGR Turbines and BGR Boilers, expand product line-up in infrastructure systems.
It also plans to accelerate expansion of storage systems and ATM as well as start up telecommunications and network system businesses through alliance with local partners besides manufacturing of electrical equipment and signal equipment for rail cars.
“We also plan to enhance the corporate function of the Hitachi group in India by expanding the R& D centre, strengthen development of research functions along with expansion of business divisions into India and initiate technology marketing research aimed at emerging markets and accelerate penetration of the Hitachi brand,” Nakanishi said.
Hiroaki Nakanishi President Hitachi said, “We expect to nearly triple our consolidated revenues to Rs 200 billion (Rs 20,000 crore) from the current Rs 67 billion (Rs 6,700 crore) by the fiscal year 2015. We will increase our employee strength from about 6,800 to 13,000 in this period.” He said that the company is eyeing acquisitions in social infrastructure and engineering services, but did not give any specific details.
Nakanishi was in India for the company’s first board meeting held outside Japan indicating the importance of the Indian market.
“Slowdown of economy is not only happening in India, it is a global issue. We have to manage business between this. We do not change the priority or investment decisions in the current scenario of the Indian economy,” he said though adding that the company is facing challenges such as differences between Union and State Government policies as well as slower pace of growth than the company’s expectations. The company, for instance, had to adjust output of auto components due to the slowdown in vehicle sales.
“We plan to use India as a base for expanding business into Africa and West Asia ,” he added. This will be largely for the construction machinery and the infrastructure systems.
Local production
The company will focus on expanding its businesses for local production for the domestic market through increasing localisation.
It will expand manufacturing and sales of power electronics products made by Hi-Rel Power Electronics and Hitachi NeST Control System besides promoting local production in its construction machinery business. Hitachi’s other plans for expansion include increasing local production of its industrial packaged air-conditioners and maintaining market share in high-end room air conditioners.
The company also plans to start a new auto components factory in Chennai besides automotive powder metal and brake factory in Neemrana.
It plans to strengthen partnership with Indian companies to expand business base in power systems such as expanding booking orders for thermal power generation systems by BGR Turbines and BGR Boilers, expand product line-up in infrastructure systems.
It also plans to accelerate expansion of storage systems and ATM as well as start up telecommunications and network system businesses through alliance with local partners besides manufacturing of electrical equipment and signal equipment for rail cars.
“We also plan to enhance the corporate function of the Hitachi group in India by expanding the R& D centre, strengthen development of research functions along with expansion of business divisions into India and initiate technology marketing research aimed at emerging markets and accelerate penetration of the Hitachi brand,” Nakanishi said.
Reliance Group, China’s Wanda to form realty JV
New Delhi: The Anil Ambani-led Reliance Group and China’s leading developer, Wanda, announced a joint venture agreement to do real estate projects in the country. This will cover integrated township projects in India, including commercial buildings and residential apartments, hotels and retail space. This is the first time a Chinese real estate company is investing in India, according to sector analysts, though some Hong Kong-based developers have funded Indian projects.
The two signed a memorandum of understanding to set up a joint venture (JV) for a strategic long-term partnership covering several areas of mutual interest, the Reliance Group said. Among the first real estate projects of the JV will be in Navi Mumbai and Hyderabad.
The 135-acre Dhirubhai Ambani Knowledge City in Navi Mumbai, owned by Reliance Communications, has a development potential of 10 million square feet (sq ft), subject to necessary approvals.
The Hyderabad project is an 80-acre new business district owned by Reliance Infrastructure, having an unlimited floor-space index for development for commercial and residential purposes, hotels, etc. There are plans to develop up to 10 million sq ft area here in a phased manner.
“Over the past few years, the Reliance Group has become the single largest trading partner between India and China”, said Anil Ambani. He added the company was looking to extend the strategic partnership to the Wanda Group “in a manner that will tremendously benefit both, and unlock substantial value for millions of all our stakeholders”.
Since Wanda Group is also the leading multiplex player in the world, with a little over 6,000 screens, Reliance MediaWorks will explore a possible co-operation in the multiplexes business in India and the US. Earlier this year, Wanda acquired the AMC chain in the US for $2.6 billion (Rs 14,000 crore).
The JV is expected to be signed in a few weeks. Investment figures will be revealed then.
Reliance will bring in the land parcels and Wanda its expertise in construction and development.
Experts called the tie-up with a Chinese company a good move. “India should welcome funds. China is the second-largest economy and has huge surplus to invest”, said Anshuman Magazine, CMD, CB Richard Ellis, South Asia.
Magazine said India must diversify its sources of funds. “If we can accept funds from the US, why not from China? There shouldn’t be a bias”.
Wanda Group has built 130 million sq ft properties in 66 integrated projects across 50 cities in China and 38 five-star hotels.
“Wanda is very excited about the opportunities in the Indian market,” said Wang Jianlin, chairman, Wanda Group. “By joining our strengths, we hope our cooperation will bring mutual benefits and great results,” he added.
Dalian Wanda Group was founded in 1988 and operates across commercial properties, luxury hotels, tourism investment, cultural industry, and department store chains.
Earlier this year, Ambani’s Realiance Communications borrowed $1.18 billion from China’s lenders to repay its holders of foreign bonds. Reliance Power also tied up loans of $ 1.1 billion (over Rs 6,000 crore) from three Chinese lenders for its 3,960 MW Sasan ultra mega power project in Madhya Pradesh.
The two signed a memorandum of understanding to set up a joint venture (JV) for a strategic long-term partnership covering several areas of mutual interest, the Reliance Group said. Among the first real estate projects of the JV will be in Navi Mumbai and Hyderabad.
The 135-acre Dhirubhai Ambani Knowledge City in Navi Mumbai, owned by Reliance Communications, has a development potential of 10 million square feet (sq ft), subject to necessary approvals.
The Hyderabad project is an 80-acre new business district owned by Reliance Infrastructure, having an unlimited floor-space index for development for commercial and residential purposes, hotels, etc. There are plans to develop up to 10 million sq ft area here in a phased manner.
“Over the past few years, the Reliance Group has become the single largest trading partner between India and China”, said Anil Ambani. He added the company was looking to extend the strategic partnership to the Wanda Group “in a manner that will tremendously benefit both, and unlock substantial value for millions of all our stakeholders”.
Since Wanda Group is also the leading multiplex player in the world, with a little over 6,000 screens, Reliance MediaWorks will explore a possible co-operation in the multiplexes business in India and the US. Earlier this year, Wanda acquired the AMC chain in the US for $2.6 billion (Rs 14,000 crore).
The JV is expected to be signed in a few weeks. Investment figures will be revealed then.
Reliance will bring in the land parcels and Wanda its expertise in construction and development.
Experts called the tie-up with a Chinese company a good move. “India should welcome funds. China is the second-largest economy and has huge surplus to invest”, said Anshuman Magazine, CMD, CB Richard Ellis, South Asia.
Magazine said India must diversify its sources of funds. “If we can accept funds from the US, why not from China? There shouldn’t be a bias”.
Wanda Group has built 130 million sq ft properties in 66 integrated projects across 50 cities in China and 38 five-star hotels.
“Wanda is very excited about the opportunities in the Indian market,” said Wang Jianlin, chairman, Wanda Group. “By joining our strengths, we hope our cooperation will bring mutual benefits and great results,” he added.
Dalian Wanda Group was founded in 1988 and operates across commercial properties, luxury hotels, tourism investment, cultural industry, and department store chains.
Earlier this year, Ambani’s Realiance Communications borrowed $1.18 billion from China’s lenders to repay its holders of foreign bonds. Reliance Power also tied up loans of $ 1.1 billion (over Rs 6,000 crore) from three Chinese lenders for its 3,960 MW Sasan ultra mega power project in Madhya Pradesh.
Kotak Capital in tie-up with Sumitomo for M&A
Mumbai: Kotak Mahindra Capital, investment banking arm of Kotak Mahindra Bank, has entered into an exclusive strategic alliance with Sumitomo Mitsui Banking Corporation ( SMBC) and SMBC Nikko Securities for cross-border merger and acquisition (M&A) advisory services between India and Japan.
SMBC acquired a 4.5 per cent stake in Kotak Mahindra Bank in 2010, through preferential allotment of shares worth Rs 1,366 crore. Kotak and SMBC had also entered an agreement for business cooperation across various businesses of mutual interest, subject to relevant regulations. Since then, both have collaborated in and are working on a number of areas such as trade, finance, treasury products, corporate customer referrals, asset management and alternate assets.
The cooperation has now been extended to investment banking to complete the bouquet of offerings for companies in India and Japan. Earlier, Kotak Mahindra Capital had an exclusive strategic cooperation agreement with GCA Savvian Corporation for M&A advisory between Indian and Japan. The firms have concluded their agreement.
With the new agreement, Kotak, SMBC and SMBC Nikko Securities aim to play an active role in the growing cross-border M&A activity between India and Japan by leveraging their combined advisory capability, knowledge of local markets and long-standing corporate relationships.
Sumitomo Mitsui Banking Corporation is the core financial institution of Sumitomo Mitsui Financial Group, the second largest financial services group in terms of market capitalisation in Japan. SMBC Nikko is one of the largest full-service securities and investment banking firms in that country. The two companies have a combined team of 500 investment banking professionals in Japan and have advised on 90 transactions with announced deal value of $23 billion in calendar 2012.
“Japan is a priority market for cross-border M&A with India, and the growing relationship and synergies between the two countries will only continue to get stronger. We are confident through this alliance we can offer the best opportunities, advice and solutions to our clients,” said T V Raghunath, managing director and CEO of Kotak Investment Banking.
In calendar 2012, Japan ranked among the top three acquiring nations into India, and three of the 10 largest M&A transactions involving India took place in the India-Japan corridor.
Other areas of SMBC’s cooperation with Kotak Mahindra Bank is in setting up an India-focused infrastructure fund in collaboration with Canada-based Brookfield Asset Management. Shanti Ekambaram, president (corporate and investment banking) at Kotak Mahindra Bank, said fund raising is going on for this.
SMBC acquired a 4.5 per cent stake in Kotak Mahindra Bank in 2010, through preferential allotment of shares worth Rs 1,366 crore. Kotak and SMBC had also entered an agreement for business cooperation across various businesses of mutual interest, subject to relevant regulations. Since then, both have collaborated in and are working on a number of areas such as trade, finance, treasury products, corporate customer referrals, asset management and alternate assets.
The cooperation has now been extended to investment banking to complete the bouquet of offerings for companies in India and Japan. Earlier, Kotak Mahindra Capital had an exclusive strategic cooperation agreement with GCA Savvian Corporation for M&A advisory between Indian and Japan. The firms have concluded their agreement.
With the new agreement, Kotak, SMBC and SMBC Nikko Securities aim to play an active role in the growing cross-border M&A activity between India and Japan by leveraging their combined advisory capability, knowledge of local markets and long-standing corporate relationships.
Sumitomo Mitsui Banking Corporation is the core financial institution of Sumitomo Mitsui Financial Group, the second largest financial services group in terms of market capitalisation in Japan. SMBC Nikko is one of the largest full-service securities and investment banking firms in that country. The two companies have a combined team of 500 investment banking professionals in Japan and have advised on 90 transactions with announced deal value of $23 billion in calendar 2012.
“Japan is a priority market for cross-border M&A with India, and the growing relationship and synergies between the two countries will only continue to get stronger. We are confident through this alliance we can offer the best opportunities, advice and solutions to our clients,” said T V Raghunath, managing director and CEO of Kotak Investment Banking.
In calendar 2012, Japan ranked among the top three acquiring nations into India, and three of the 10 largest M&A transactions involving India took place in the India-Japan corridor.
Other areas of SMBC’s cooperation with Kotak Mahindra Bank is in setting up an India-focused infrastructure fund in collaboration with Canada-based Brookfield Asset Management. Shanti Ekambaram, president (corporate and investment banking) at Kotak Mahindra Bank, said fund raising is going on for this.
India Inc raises $4.29 billion via ECBs, FCCBs
Mumbai: Indian companies raised $4.29 billion, through external commercial borrowings (ECBs) and foreign currency convertible bonds ( FCCBs) in October, to fund modernisation, foreign acquisitions, import of capital goods and onward lending.
This is highest since December last year. In December 2011, companies had raised $4.4 billion from the ECBs and FCCBs. The comparable figure for last month, according to Reserve Bank of India ( RBI) data, was $2.77 billion. Of the total, $2.40 billion was via automatic route while $1.89 billion was raised through the approval route, which requires case-by-case approval from RBI.
Reliance Industries Ltd alone contracted ECBs worth $1.5 billion for importing capital goods.
The loan tenure is 64 months under the approval route. October saw a number of ECBs raised by the government companies. Indian Oil Corporation, Bharat Petroleum, GAIL, Indian Railways Finance Corporation and Air India were the public sector enterprises that had borrowed through ECBs.
There were two FCCB transactions recorded in the month. Jain Irrigation Systems Ltd borrowed $40 million to fund its oversees acquisition while Gujarat NRE Coke Ltd funded its local capital goods expenditure.
This is highest since December last year. In December 2011, companies had raised $4.4 billion from the ECBs and FCCBs. The comparable figure for last month, according to Reserve Bank of India ( RBI) data, was $2.77 billion. Of the total, $2.40 billion was via automatic route while $1.89 billion was raised through the approval route, which requires case-by-case approval from RBI.
Reliance Industries Ltd alone contracted ECBs worth $1.5 billion for importing capital goods.
The loan tenure is 64 months under the approval route. October saw a number of ECBs raised by the government companies. Indian Oil Corporation, Bharat Petroleum, GAIL, Indian Railways Finance Corporation and Air India were the public sector enterprises that had borrowed through ECBs.
There were two FCCB transactions recorded in the month. Jain Irrigation Systems Ltd borrowed $40 million to fund its oversees acquisition while Gujarat NRE Coke Ltd funded its local capital goods expenditure.
100% FDI Permitted in Power Sector
New Delhi: The Minister of State (Independent Charge) for Power Shri Jyotiraditya Scindia informed Lok Sabha today that as per extant policy, Foreign Direct Investment (FDI) up to 100% is permitted in the power sector, under the automatic route, for:
Generation and transmission of electric energy produced in hydro electric, coal/lignite based thermal, oil based thermal and gas based thermal power plants;
Non-Conventional Energy Generation and Distribution;
Distribution of elective energy to households, industrial, commercial and other users; and
Power Trading.
Accordingly, any foreign power company can enter power sector through FDI route. Further, several global power plant equipment manufacturing companies from Japan, Europe and USA have formed Joint Ventures with Indian Companies for establishing manufacturing base in India for the manufacture of supercritical boilers/turbine generators and technology transfer. The companies are Mitsubishi Heavy Industries Ltd., Japan with L&T at Gujarat; Hitachi, Japan with BGR at Tamil Nadu; Toshiba, Japan with JSW at Tamil Nadu; Alstom, France with Bharat Forge at Gujarat; Ansaldo Caldie, Italy with Gammon at Tamil Nadu; Babcock & Wilcox, USA with Thermax at Maharashtra; Hitachi Power Europe GmbH (Germany) with BGR at Tamil Nadu. Doosan, Korea (100% FDI) has come to establish its manufacturing facilities on their own strength in Tamil Nadu.
Besides, CLP India Pvt. Ltd., a wholly owned subsidiary of CLP Holdings has set up a 1320 MW thermal power project at Haryana. In addition, M/s. AES (Chhattisgarh Energy Pvt. Ltd.) proposes to setup 2x660 MW Thermal Power Project in Chhattisgarh and Odisha Power Generation Corporation Ltd. (A Joint Venture of Govt. of Odisha & AES Corp. USA) also proposes to setup a new Thermal Power Project (2x 660 MW) in Odisha.
Generation and transmission of electric energy produced in hydro electric, coal/lignite based thermal, oil based thermal and gas based thermal power plants;
Non-Conventional Energy Generation and Distribution;
Distribution of elective energy to households, industrial, commercial and other users; and
Power Trading.
Accordingly, any foreign power company can enter power sector through FDI route. Further, several global power plant equipment manufacturing companies from Japan, Europe and USA have formed Joint Ventures with Indian Companies for establishing manufacturing base in India for the manufacture of supercritical boilers/turbine generators and technology transfer. The companies are Mitsubishi Heavy Industries Ltd., Japan with L&T at Gujarat; Hitachi, Japan with BGR at Tamil Nadu; Toshiba, Japan with JSW at Tamil Nadu; Alstom, France with Bharat Forge at Gujarat; Ansaldo Caldie, Italy with Gammon at Tamil Nadu; Babcock & Wilcox, USA with Thermax at Maharashtra; Hitachi Power Europe GmbH (Germany) with BGR at Tamil Nadu. Doosan, Korea (100% FDI) has come to establish its manufacturing facilities on their own strength in Tamil Nadu.
Besides, CLP India Pvt. Ltd., a wholly owned subsidiary of CLP Holdings has set up a 1320 MW thermal power project at Haryana. In addition, M/s. AES (Chhattisgarh Energy Pvt. Ltd.) proposes to setup 2x660 MW Thermal Power Project in Chhattisgarh and Odisha Power Generation Corporation Ltd. (A Joint Venture of Govt. of Odisha & AES Corp. USA) also proposes to setup a new Thermal Power Project (2x 660 MW) in Odisha.
Wednesday, December 12, 2012
KEC International gets Rs 612 cr orders
Coimbatore: KEC International Ltd belonging to the RPG Group has secured new orders worth Rs 612 crore in transmission, power systems, cables and water businesses.
Bulk of the orders was for transmission business both within and outside the country. It has got an order for Rs 210 crore from Power Grid Corporation of India Ltd for erection of single circuit transmission lines between Meerut in Uttar Pradesh and Monga in Punjab on turnkey basis. KEC International claimed that so far in this financial year it had nearly 28 per cent share in PGCIL’s transmission line contracts.
KECIL’s wholly owned subsidiary SAE Towers has won orders for supply of lattice towers in Brazil, Mexico and the US valued Rs 224 crore.
In Uganda, it has secured an order worth Rs 53 crore for design and construction of distribution lines.
The orders for supply of power and telecom cables were estimated to be Rs 81 crore and order for water system civil works for thermal power project of NTPC in Solapur in Maharashtra was worth Rs 44 crore.
On Monday, the KEC stock was trading up 2.73 per cent at Rs 67.85 on the BSE in morning trade.
Bulk of the orders was for transmission business both within and outside the country. It has got an order for Rs 210 crore from Power Grid Corporation of India Ltd for erection of single circuit transmission lines between Meerut in Uttar Pradesh and Monga in Punjab on turnkey basis. KEC International claimed that so far in this financial year it had nearly 28 per cent share in PGCIL’s transmission line contracts.
KECIL’s wholly owned subsidiary SAE Towers has won orders for supply of lattice towers in Brazil, Mexico and the US valued Rs 224 crore.
In Uganda, it has secured an order worth Rs 53 crore for design and construction of distribution lines.
The orders for supply of power and telecom cables were estimated to be Rs 81 crore and order for water system civil works for thermal power project of NTPC in Solapur in Maharashtra was worth Rs 44 crore.
On Monday, the KEC stock was trading up 2.73 per cent at Rs 67.85 on the BSE in morning trade.
Railway Revenue Earnings up by 19.23 Per Cent During April- November 2012
New Delhi: The total approximate earnings of Indian Railways on originating basis during 1st April to 30th November 2012 were Rs.78868.17 crore compared to Rs. 66150.48 crore during the same period last year, registering an increase of 19.23 per cent.
The total goods earnings have gone up from Rs. 43891.25 crore during 1st April – 30th November 2011 to Rs. 54487.10 crore during 1st April – 30th November 2012, registering an increase of 24.14 per cent.
The total passenger revenue earnings during 1st April – 30th November 2012 were Rs. 20423.31 crore compared to Rs. 18742.83 crore during the same period last year, registering an increase of 8.97 per cent.
The revenue earnings from other coaching amounted to Rs. 2061.30 crore during April-November 2012 compared to Rs. 1860.49 crore during the same period last year, registering an increase of 10.79 per cent.
The total approximate numbers of passengers booked during 1st April – 30th November 2012 were 5700.57 million compared to 5517.86 million during the same period last year, showing an increase of 3.31 per cent. In the suburban and non-suburban sectors, the numbers of passengers booked during April-November 2012 were 2964.50 million and 2736.07 million compared to 2886.10 million and 2353.95 million during the same period last year, showing an increase of 2.72 per cent and 3.96 per cent respectively.
The total goods earnings have gone up from Rs. 43891.25 crore during 1st April – 30th November 2011 to Rs. 54487.10 crore during 1st April – 30th November 2012, registering an increase of 24.14 per cent.
The total passenger revenue earnings during 1st April – 30th November 2012 were Rs. 20423.31 crore compared to Rs. 18742.83 crore during the same period last year, registering an increase of 8.97 per cent.
The revenue earnings from other coaching amounted to Rs. 2061.30 crore during April-November 2012 compared to Rs. 1860.49 crore during the same period last year, registering an increase of 10.79 per cent.
The total approximate numbers of passengers booked during 1st April – 30th November 2012 were 5700.57 million compared to 5517.86 million during the same period last year, showing an increase of 3.31 per cent. In the suburban and non-suburban sectors, the numbers of passengers booked during April-November 2012 were 2964.50 million and 2736.07 million compared to 2886.10 million and 2353.95 million during the same period last year, showing an increase of 2.72 per cent and 3.96 per cent respectively.
Coffee exports to S. Korea up five-fold
Bengaluru: South Korea has become a key market in Far-East for Indian coffee exports.
“Indian coffee exports to South Korea have seen a five-fold jump in volume in the last three years,” Jawaid Akhtar, Coffee Board Chairman, told Business Line.
Exports to South Korea is expected to cross over 2,000 tonnes in crop year 2011-12 compared with 2,051 tonnes (in value terms Rs 33.87 crore) in 2010-11. In 2009-10, exports stood at 366.1 tonnes (Rs 3.51 crore).
Korea is a market for mild coffee and India fits well due to its geographical advantage compared to South American coffee-growing countries.
Also the success of Korean big business such as Hyundai, Samsung, LG and others brands in Indian market has added to the comfort level in doing business with Indian growers.
Aktar said: “Korea is a good follow-up country for us. Exports have been steadily going up. It rose sharply ever since we took part in ‘Seoul Cafe Show’ in Korea last year and this year.”
“We want to cultivate and build this emerging market. As a step towards achieving it, we have been taking exporters along with us to showcase our diverse coffees,” he said.
This year, three Indian exporters took part in the ‘Seoul Cafe Show’ as compared to five exporters last year.
Nishant Gurjer, KPA Chairman and managing partner of Kaapi Royale Coffee and the Sethuraman Estates, who took part at the ‘Seoul Cafe Show’ said: “Korea in terms of consumption has suddenly emerged as a big importer of coffees in the last five years.”
“Ever since I started exports to Korea, I am seeing home grown café chains like ‘Caffé Bene’, ‘Angles in Us Coffee’, ‘Hollys Coffee’ and ‘Paris Baguette’ expanding. In all they have over 1,000 stores,” he added.
South Korean coffee buyer is also well aware of coffee quality which he is buying as most of them are Q-certified tasters.
According to Gurjer, Indian coffee is also getting good prices as well. Indian coffees with quality cupping taste profile and certification has got good premium for they appreciate and have tasted good quality coffees.
“Indian coffee exports to South Korea have seen a five-fold jump in volume in the last three years,” Jawaid Akhtar, Coffee Board Chairman, told Business Line.
Exports to South Korea is expected to cross over 2,000 tonnes in crop year 2011-12 compared with 2,051 tonnes (in value terms Rs 33.87 crore) in 2010-11. In 2009-10, exports stood at 366.1 tonnes (Rs 3.51 crore).
Korea is a market for mild coffee and India fits well due to its geographical advantage compared to South American coffee-growing countries.
Also the success of Korean big business such as Hyundai, Samsung, LG and others brands in Indian market has added to the comfort level in doing business with Indian growers.
Aktar said: “Korea is a good follow-up country for us. Exports have been steadily going up. It rose sharply ever since we took part in ‘Seoul Cafe Show’ in Korea last year and this year.”
“We want to cultivate and build this emerging market. As a step towards achieving it, we have been taking exporters along with us to showcase our diverse coffees,” he said.
This year, three Indian exporters took part in the ‘Seoul Cafe Show’ as compared to five exporters last year.
Nishant Gurjer, KPA Chairman and managing partner of Kaapi Royale Coffee and the Sethuraman Estates, who took part at the ‘Seoul Cafe Show’ said: “Korea in terms of consumption has suddenly emerged as a big importer of coffees in the last five years.”
“Ever since I started exports to Korea, I am seeing home grown café chains like ‘Caffé Bene’, ‘Angles in Us Coffee’, ‘Hollys Coffee’ and ‘Paris Baguette’ expanding. In all they have over 1,000 stores,” he added.
South Korean coffee buyer is also well aware of coffee quality which he is buying as most of them are Q-certified tasters.
According to Gurjer, Indian coffee is also getting good prices as well. Indian coffees with quality cupping taste profile and certification has got good premium for they appreciate and have tasted good quality coffees.
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