Deepinder Kaur Grewal
(15TH Nov to 21ST Nov)
#1. Commercial property sees
resurgence in demand
Commercial realty is now gaining in demand, the
recession is a thing of the past, companies are hiring
It was in the doldrums all over the country for a while,
but now the scenario is very different, the outlook is
optimistic, and in Pune there is definite reason to cheer.
The SEZ and STPI stock is huge, but since prices are
reasonable, corporates are leasing space for both back
office and front office demand.
#2. GM India to invest $300 mn in two
Passenger car-maker GM India has drawn up plans to
invest $300 mn in the next two years.
GM is investing $300 mn in the next two years for
launching six new products.
The new products would comprise a compact car, a
sedan, multi-utility vehicles, van and pick-ups.
The company had tied up with a consortium of banks
for funding the required investment.
#3. ICICI Bank expects 18 per cent
credit growth in 2010-11
Country's largest private lender ICICI Bank has said that
its credit will grow at a hefty 18 per cent this fiscal,
contrary to a meagre 1.8 per cent expansion in the first
half, largely on account of buoyant corporate and retail
It may be recalled that ICICI Bank had posted a 19 per
cent growth in net profit to Rs 1,236.27 crore during the
second quarter. In the same period a year ago, it had
witnessed a flat growth at Rs 1,040.13 crore.
#4. SKNL to reposition its apparel
brands, starts ad agency pitch
Apparel and textile firm S Kumars Nationwide Ltd
(SKNL) is undertaking a re-positioning exercise for its
apparel brands, including Reid & Taylor and Belmonte.
This is in keeping in tune with the growth witnessed by
the labels in the Indian market.
As a part of the exercise, the firm has invited pitches
from up to five advertising agencies for each of the
brands to carry out campaigns.
The company is likely to finalise contracts by the end of
#5. Fiat may not meet sales target set
Having sold only 24,000 units till October in a highly
competitive environment, Fiat India has that the
company may not meet the sales target of 46,000 units
set for 2010.
The company had targeted doubling its sales in 2010 to
46,000 units from 23,000 units sold in 2009.
#6. Tata Power to invest around Rs
5,000 cr in wind energy by 2017
Ratan Tata-led Tata Power aims to have at least a 25
per cent of its power generation or around 8,000 MW
from clean sources by 2017 and will invest around Rs
5,000 crore in wind-energy alone, a top company official
The company, which presently has a little over 200 MW
of wind capacity, plans to give a strong thrust to wind-
energy as it is the most commercially viable and
established form of renewable energy.
The company is presently in the process of rolling-out
150 MW and an additional 750-800 MW will be added at
the rate of around 100-150 MW annually through to
#7. Coming winter to be best season
in three years for hotels
The Indian hotel industry is on a rebound with top
bracket hotels in major cities and leisure destinations
reporting a surge in demand, and in certain cases, a
rise in hotel rates, for the ongoing winter season, driven
by corporate bookings and a surge in international
Hoteliers say the bookings for the winter season
bettered their expectations to make it their best
October-February season in three years and that the
industry is on an upward cycle that will peak in 2012.
Room rates and occupancy levels are yet to match
2007-08 figures, but there are clear signs of a pick-up in
business and tourist activity in the country after a
slowdown following the Mumbai terrorist attack in
Domestic airlines too have reported a jump in demand
and have hiked airfares.
#8. Dr Reddy's gets FDA nod to
launch anti-asthma tablets in US
Drug firm Dr Reddy's Laboratories said it has received
approval from US health regulator to launch generic
Zafirlukast tablets, used for treating asthma, in the
The approval by the US Food and Drug Administration
(USFDA) for its abbreviated new drug application
(ANDA) for Zafirlukast tablets follows a favourable court
judgment in the patent infringement case filed against it
by patent holder Astra Zeneca.
#9. Foreign funds turn net sellers for
first time in 25 weeks
Foreign funds sold stocks worth $88 million this week, a
first in about 25 weeks, sending strong signals of
consolidation at Indian equities markets for the coming
While the flow of overseas money has swelled to record
levels, recent weeks have also seen stocks tumble,
soon after benchmark indices soared to their highest
According to data available with the Securities and
Exchange Board of India (SEBI), foreign institutional