Et news (15 to 21)

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Et news (15 to 21)

  1. 1. Deepinder Kaur Grewal MBA 2C ET NEWS (15TH Nov to 21ST Nov)
  2. 2. #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 and expanding.  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.
  3. 3. #2. GM India to invest $300 mn in two years.  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.
  4. 4. #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 businesses.  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.
  5. 5. #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 this calendar.
  6. 6. #5. Fiat may not meet sales target set for 2010  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.
  7. 7. #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 said.  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
  8. 8. #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 visitors.  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.
  9. 9. Contdd……….  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 November 2008.  Domestic airlines too have reported a jump in demand and have hiked airfares.
  10. 10. #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 American market.  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.
  11. 11. #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 sessions.  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 levels.  According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional

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