Editor's Desk - FreePress India

Suzlon’s Australian arm bags 42 MW order from Infigen Energy

November 25, 2009 by Editor's Desk

Suzlon Energy’s Australian operation arm — Suzlon Energy Australia Pty Limited — has entered into agreement with Infigen Energy, a leading specialist renewable energy business for delivery of wind turbine generators (WTGs). As per agreement, Suzlon will deliver 20 units of its S88-2.1 MW WTGs that will be installed at one of the wind farms … Read more Suzlon’s Australian arm bags 42 MW order from Infigen Energy

Insider Trading – Reliance Mukesh Ambani Vs Rajaratnam of Galleon Hedge Fund – Difference is SEBI

November 24, 2009 by Editor's Desk

Reliance Industries Ltd led by Mukesh Ambani has been charged with Insider Trading of Reliance Petroleum prior to its merger with RIL in 2007. Now Business Line reports that,

The company has proposed a payment of Rs 2 crore towards settlement of the case, sources confirmed. SEBI is understood to have assessed the gains from the alleged insider trading at Rs 513 crore.

Is it notevident that RIL under Mukesh Ambani is accepting to the charges and that is why they have proposed a settlement of Rs 2 cr for making Insider Trading profits of Rs 513 cr [USD 110 mn].

Read moreInsider Trading – Reliance Mukesh Ambani Vs Rajaratnam of Galleon Hedge Fund – Difference is SEBI

GVK Infra Likely to Witness Re-Rating

November 23, 2009 by Editor's Desk

GVK currently holds 12%, which it acquired at Rs4.85B (US$100M) from Zurich Airport. We see potential to hike its stake to controlling levels of 44-49% in a few quarters from now, as it may take over the share of L&T (17%, via ZA) and Siemens (40%, partly locked in). GVK has publicly stated its intent to do so.

Post this purchase, GVK would have 2 operating airports including Mumbai, 3 operating power projects of 881MW in AP and Jaipur-Kishengarh expressway.

KEC bags orders worth Rs 114 crore from Ghana

November 19, 2009November 19, 2009 by Editor's Desk

KEC International (KEC), a global leader in the power transmission EPC business and an RPG Group company, has won a rural electrification order in the state of Madhya Pradesh and a substation order in Ghana Africa.

The rural electrification order comes from the Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company (MPMKVVCL) under the RGGVY programme in the district of Morena.

SEBI likely to reduce IPO processing to 7 days

November 18, 2009November 18, 2009 by Editor's Desk

Capital market regulator Securities and Exchange Board of India (SEBI) has hinted that it may reduce the time required for IPO processing to seven days from 20 days at present over the next one year. ‘The listing time should come down to seven days… primary market is still somewhat inefficient compared to the secondary market,’ … Read more SEBI likely to reduce IPO processing to 7 days

DoT fails to clear queries in pre-bid conference

November 17, 2009November 17, 2009 by Editor's Desk

The department of telecommunications (DoT) failed to clear all outstanding issues at the pre-bid conference for the auction of third generation (3G) radio frequencies organised on Monday but did signal that the auction was on for now. There have been apprehensions in many quarters that the much awaited auction might be postponed for a second time.

Only foreign players, which were visible at the conference, were the US telecom major AT&T and the world’s largest chip maker, Intel. However, many others might have sent their representation through India-based consultants in a move to protect their identity. There were present a number of consultants like PWC, Dua Consultants and BDA etc.