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Reply With QuoteOn the down low though, if I were you I would look at the Russian gas giants like gasprom etc, they have strong up trends as per my boss.
You will probably have to analyse caltec first. It is wrong to simply assume that just because oil prices will increase, profits for caltec will translate into a higher share price. You need to look at the caltec balance sheet, see what kind of debt it has vs equity, need to see future investment trends, there are financial valuation techniques that you can use to figure out if the share price is undervalued, ie you buy that share and sell once its price gets back to where it belongs, look at pe ratios etc, more importantly look at audit reports, balance sheets etc etc etc
In sum it would be better for you to invest in a well diversified portfolio (consult your local investment banker) with a strong weight given to oil stocks while hedging yourself with it stocks, bonds, alternative energy stocks etc....
On the down low though, if I were you I would look at the Russian gas giants like gasprom etc, they have strong up trends as per my boss.
Reliance plans Rs 6,000-cr IPO for refinery project
Tuesday, 24 January , 2006, 08:16
Mumbai: After nearly 12 years, Reliance Group has announced its plans for another mega IPO to raise Rs 5,000-6,000 crore for part funding its new refinery and petrochemicals project.
The Mukesh Ambani controlled Reliance Industries Ltd (RIL) has also announced an initial investment of $750 million (Rs 3,315 crore) in retail business.
The RIL board which met on Monday approved an equity issue by its newly created subsidiary, Reliance Petroleum Ltd (RPL), which will implement the new refinery and petrochemical projects at Jamnagar, Gujarat, at an estimated cost of $6 billion (Rs 27,000 crore).
The project at the special economic zone includes a 27-million tonne export-oriented refinery and a 1-million tonne per annum polypropylene plant. The project is planned to be funded by a debt of $3.5 billion (Rs 16,000 crore) and an equity of $2.5 billion (Rs 11,000 crore).
The IPO will be sometime during the first half of 2006-2007, the company said on Monday. Reliance Petroleum, the wholly owned subsidiary of RIL, will continue to be a subsidiary even after the public issue, the company said.
The last time the Reliance group had entered the capital market was in 1993 when the erstwhile Reliance Petroleum Ltd raised Rs 862 crore through a public issue of Triple Option Convertible Debentures.
"The proposed IPO by RIL brings out the unique strategy of creating value for the new shareholders while, at the same time, unlocking value for existing shareholders of RIL," RIL said in a news release. Another Reliance Petroleum Ltd is in the process of emerging after the earlier one was merged with RIL, an analyst said.
The market awaits another IPO from the Reliance Group - that of Reliance Infocomm, controlled by the Anil Ambani group.
On Monday, the RIL board approved investments in supermarkets or speciality stores in select cities through a subsidiary, the company informed the stock exchanges. There have been reports indicating the group's seriousness in entering the retail sector.
RIL recently bid for and won a 18.5-acre plot at Bandra Kurla Complex, a prime location in Mumbai for over Rs 1,100 crore.
The share price of RIL edged down by Rs 1.90 to Rs 701.45 on the BSE on Monday.
Wild Wild Web
Russia keen to supply nuclear plants to India
Tuesday, 24 January , 2006, 09:11
Kalpakkam: Russian companies are not only keen on supplying more nuclear power plants to India, but are also "confident" of being allowed to do so in course of time, S. K. Jain, Chairman and Managing Director, Nuclear Power Corporation of India Ltd, told newspersons here.
Russia, being a part of the `nuclear suppliers' group,' is constrained by international agreements to supply equipment and fuel for nuclear power plants. (The two 1,000-megawatt power plants that are being put up at Kudankulam in Tamil Nadu with Russian technology are only a fulfilment of an agreement with India that predates Russia's international commitments.)
Now, the question is whether the next set of power plants would be supplied to India. The question assumes more importance now, because the US government is insisting on linking supplies of uranium to India putting the existing Fast Breeder Test Reactor and the Prototype Fast Breeder Reactor (under construction) under international safeguards, which means subjecting the plants to international monitoring.
India's stand has been that it would put all the power plants built with foreign technology or fuels under international safeguards, but not those indigenously built and operated with domestic fuel. Putting indigenous plants under the safeguards would, in effect, mean following the provisions of the Nuclear Non-Proliferation Treaty (NPT), which India considers discriminatory and unjust.
At the press conference, Jain said that "at the company level," Russians are confident of further co-operation with India. They have even begun to do the groundwork for supplying to India in anticipation of clearances, he said.
Jain said that India wants to be a significant player in the energy sector. He said that NPCIL wishes to eventually see the Kudankulam site develop into a 10,000-MW complex.
India has seven nuclear plants under construction right now for 3,420-MW capacity, including the two at Kudankulam. Jain said that 540-MW Tarapore-3 unit would be operational in a month.
Wild Wild Web
Only London, Tokyo beat Bangalore office space
BANGALORE: Bangalore's commercial property business holds pride of place in world charts.
The IT city has been ranked No. 3 among global cities for office space absorbed in 2005 in a survey done by London-listed international real estate consultancy firm DTZ.
A record 9.28 million sqft of Grade A leasehold office space was absorbed in Bangalore last year, marginally behind London, where the net absorption was 9.96 million sq ft. Tokyo tops the list with annual net absorption of 12.33 mn sq ft.
In a measure of India's rapidly growing appeal as an IT/BPO destination, two other Indian cities found themselves in the top 20 rankings.
Chennai is ranked sixth with net absorption of 3.76 mn sq ft, and Delhi is ranked 11th with 2.36 mn sq ft Shanghai, New York City, Dallas, San Francisco Bay Area, Los Angeles and Frankfurt are the others in the top 10.
Bangalore witnessed a 22% jump in space absorbed in 2005, against the 7.6 mn sq.ft absorbed in 2004. The numbers exclude campus-style developments and built-to-suit facilities.
"The continued demand for space from the IT/IT-enabled services and BPO sectors is the main driver behind this dramatic increase in absorption in Bangalore," said DTZ India managing director Ankur Srivastava.
He said the financial services sector and engineering companies were also expanding and taking up a substantial portion of office space.
Notable transactions over the last year in Bangalore include those of Cisco, Apple, i-flex, IBM, Cognizant, Juniper, AOL, Cadence Design Systems, Accent-ure, Samsung, Caterpillar and SAP.
And no slip-up is expected this year, despite Bangalore's infrastructure concerns. "We are continuing to get phenomenal demand for space in Bangalore,
far more than for any other city. Bangalore's talent and cosmopolitan culture is a huge attraction," says Juggy Marwaha, vice president (sales) in RMZ Corp, a major commercial property space provider.
Wild Wild Web
The RBI has raised interest rates to 5.5% from 5.25% and has now upped the growth forecast for the economy due to better than expected agricultural growth. This move was done to combat inflation. IN my opini0on the bank must make sure that the cost of borrowing capital remains low as this is the main reason for the resurgence of our economy, not any neta driven policy.
gdp growth is now predicted to be between 7.5-8% this financial year.
FDI up to 51 % for retail in single brand products okayed
In a step to woo foreign investors and make the investment climate more hospitable, the Cabinet today allowed FDI up to 51 per cent for retail trade in 'single brand products', and approved major rationalisation of the FDI policy, simplifying the procedures for investing in India.
Minister for Commerce and Industry Kamal Nath said 51 per cent FDI in retail of 'single brands' was aimed at ''attracting investment, technology and best global practices as also catering to the demand of such branded goods in India.'' The Cabinet decided that FDI upto 100 per cent under the automatic route would be allowed for processing and warehousing in coffee and rubber industry and power trading, subject to provisions of the Electricity Act, 2002.
The government also decided to raise the FDI caps and ceiling to 100 per cent in the case of investment in creation of infrastructure related to marketing in petroleum sector and in captive mining of coal and lignite for consumption by eligible users.
The Cabinet also gave its approval for creation of the post of Consul General to reopen Consulate General of India in Karachi this year to ease the severe pressure for visa issuance, The expenditure for creation of 61 new posts would be about Rs 3.99 crores per annum.
Wild Wild Web
The commies are funny people. They dont seem to understand that single branded goods are bought by the upper middle class and up who will never ever buy goods from the small street side retailers anyway. At least they dont have to go to Dubai to buy Gucci. When will the commies ever learn.
Let this open the doors to furthur fdi liberalization and let the commies huff and puff all they want, they can have W Bengal and keep it in poverty...
ive always wanted to shoot these commies in the head..
But I'm sure they'll die a natural death once elections come around..
Originally Posted by OrdinaryGuy
Thats the problem, they wont die after elections, theywill probably win. The problem is that they have huge support amongst poor and we only have ourselves to blame for that ie the emergence of a fast growing India and another agriculture based poor India. Until we bring more poor people into the mainstream, 19th century communism will have a foothold on 21st century India.
Mittal Steel, the world's largest steel maker, announced an euro 18.6 billion ($22.8 billion) offer on Friday for its nearest rival Arcelor SA.
London-based Mittal said that the deal, which values Arcelor shares at euro 28.21 ($24.50) each, would create the world's first 100 million ton-plus steel producer with a market capitalization of $40 billion (euro 32.7 billion). It anticipated annual synergies of $1 billion (euro 816 million).
While the bid for Arcelor caught the market by surprise, Mittal has been openly looking for acquisitions to increase its share of the global steel-making capacity as demand from China and India rises.
Mittal Chief Executive and Chairman Lakshmi Mittal said that both companies have been at the forefront of consolidation of the steel industry and "share a similar vision for the future of our industry."
"This combination accelerates this process and leaves us uniquely positioned to benefit from the opportunities created," he added.
Arcelor spokesman Jean Lasar in Luxembourg offered no comment on the bid, adding that the company might react later in the day after assessing the bid.
Mittal Steel added that, if the deal goes ahead, it has agreed to sell Canadian steelmaker Dofasco Inc -- which earlier this month agreed to a takeover by Arcelor -- to German-based steelmaker ThyssenKrupp AG.
Arcelor and Dofasco agreed to a euro 3.95 billion ($4.85 billion) takeover on January 24 after ThyssenKrupp dropped out of the bidding war.
ThyssenKrupp noted on Friday that Mittal is offering around 68 Canadian dollars (euro 48; $59) a share, equal to the final offer the German company made to Dofasco's shareholders before exiting the race.
ThyssenKrupp shares leapt on news of the proposed deal. They were up 7.7 per cent on the Frankfurt exchange to euro 21.88 ($26.80). Shares in both Mittal and Arcelor had been suspended on Friday pending an announcement. Euronext said that Arcelor shares would resume trading at 12 pm.
Mittal overtook Arcelor as the world's largest steelmaker by buying US-based International Steel Group, snapping up steel mills in eastern Europe and paying about $4.8 billion (euro 4.1 billion) in October to acquire Ukraine's state-owned Kryvorizhstal. Mittal, which is 88 per cent owned by the Mittal family, has also signed a memorandum of understanding with local authorities in India to set up a 12 million ton greenfield site in Jharkland. Arcelor, created in 2002 through the merger of Usinor SA of France, Arbed SA of Luxembourg and Aceralia Corp Siderurgica SA of Spain, makes around two-thirds of its sales to high-end European automotive and packaging companies, which means its profit margins are high.
However, late last year it moved into Latin America, taking control of Brazilian stainless steel producer Acesita SA after it bought out two Brazilian pension funds.
Under the terms of Friday's offer, Arcelor shareholders will receive four Mittal Steel shares and euro 35.25 ($30.61) cash for every five Arcelor shares.
hehe its a hostile bid.
http://economictimes.indiatimes.com/...ow/1389990.cms
India can clock 10% growth: FM
DIWAKAR
TIMES NEWS NETWORK[ SATURDAY, JANUARY 28, 2006 12:11:53 AM]
NRIs Rang De Basanti FREE DVD
DAVOS: Finance minister P Chidambaram on Friday asserted before global business leaders that India could easily clock 10% growth with greater efficiency and productivity.
Speaking at a session on ‘New Energy for Indian Reforms’, Chidambaram said the goal of double-digit growth rate could be achieved by meeting the pre-requisites of augmenting investment in technology and agriculture, improving competitiveness of the manufacturing sector so that the country becomes a manufacturing hub; and by focusing on the expansion of infrastructure.
Keeping in line with the bullish India promotion pitch, FM said the current dynamics required companies to look at India as an investment destination. He stated that other countries also need to engage with India. ‘‘It is not possible to ignore India,’’ he said.
He stressed the new-found determination to join the club of developed nations, saying that India was now dreaming big on infrastructure. He gave the examples of the 200-acre SEZ coming up in Haryana, and that of a similarly huge facility conceived for Navi Mumbai.
Chidambaram, who had on Thursday wooed Japanese investors to hike FDI into India especially in the areas of power and airports, also emphasised India’s interest in a grand regional alliance with Asean and three other countries — Japan, China, and South Korea — in the region and in boosting intra-regional trade with Asean.
Stating that India would sign the Comprehensive Economic Cooperation Agreement(CECA) with Asean this year, he said India would examine proposals for Asian Bond Market Initiative and the Asian Monetary Fund. He said that with five of the six countries with largest forex reserves — Japan, China, Korea, Taiwan and India — located in the region, there was no reason why Asian Monetary Fund could not be set up. “We will consider the idea.’’
Stressing the need to expand and improve infrastructure, he said that special projects, like special economic zones, high capacity railway corridors, power and ports, have been identified for significant investment.
Planning Commission deputy chairman Montek Singh Ahluwalia tried to counter the perception about the slowing down of reforms. “History shows that we have reformed and liberalised.” He said the pace of reforms might appear slow, but that does not mean that reforms were not happening.
From economictimes as well
Saudi Arabia seeks more business in India
HIMANSHI DHAWAN
TIMES NEWS NETWORK[ FRIDAY, JANUARY 27, 2006 01:52:25 AM]
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NEW DELHI: Hyderabadi biryani, kundan work, Aishwarya Rai may have little in common except for their extensive fan following in Saudi Arabia. With Abdullah, the hereditary ruler of Saudi Arabia as the chief guest at the Republic Day celebrations, Delhi is abuzz with the whiff of ittar as much as India’s popularity in the Middle East.
Accompanying Abdullah’s entourage in search of serious business is AK Saeed, who heads an industrial empire that produces everything — from carpets and perfumes to bottling carbonated drinks.
Saeed, who is also the president of the Saudi-Indian business group, sees India as the largest growing economic power. And Saudis obviously do not want to be left behind.
Hotels, food, electricity, hospitals are some of the areas that Saeed and other business groups are looking at. “We are interested in setting up a seven-star hotel in Hyderabad. Talks are on and an agreement will materialise soon,” Saeed says.
Mumbai, Bangalore and, Delhi will be the special focus. “India has technical know-how and has outsourced its expertise very effectively. Bangalore is its hub and we would like to invest there also,” the business baron adds
Saeed, who travels extensively, finds a closeness to Indian culture that is hard to replicate.
“India has a diverse culture and is very popular in my country. Whether it is film stars like Aishwarya Rai or Shabana Azmi, whom the intellectuals love for her artistic touch, there is a large fan following. The bead and stone work on clothes and cuisine, especially Hyderabadi biryani and chicken tikka, are a huge hit,” he says.
In recent times, there has been much progress in the country, says Saeed. “We have women representatives in the chambers of commerce for the first time. This king has done a lot for the country and brought about major reforms. We are very keen to look east,” he adds.
Ten years ago, that same regime used to finance many a terror group operating in Kashmir, today as we have grown richer, they wish to do business and invest. Only money talks these days, the sooner we realize that, the better off we will be by acheaving our geopolitical objectives. Middle East money is only now starting to arrive in a very big way into India.
btw Saudi Arabia has just signed a major strategic oil agreement with India guaranteeing the meeting of increasing Indian demand for oil for the next 20 years. This is the power of a growing economy. The faster we grow the better off we will be.
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