business

We expect business conditions for Indian banks to get tougher given decelerating credit demand, falling margins and worsening asset quality (NPAs to rise 3x over FY09-11). Among banks, we prefer ICICI Bank, Axis, PNB, BoB and UBI for their cautious asset growth, ample NPA coverage and sizeable CASA base. After deflation through most of FY10, … Read more Indian Banks Environment to turn tougher

GMR Infrastructure Ltd has informed BSE that GMR Holdings Pvt. Ltd (‘GHPL’), promoter and holding Company of GMR Infrastructure Ltd (“the Company”) has purchased 38,00,000 on March 20, 2009 Equity Shares of Rs 2/- each through open market purchase in normal segment on the Stock Exchanges. Consequent to the aforesaid acquisition of 38,00,000 Equity Shares, … Read more GMR Promoters Raise stake to 74.71%

BHEL’s project site at Jhajjhar, Haryana is a large 1,500 MW site (three units of 500 MW each). It belongs to the Aravali Power Co., 51% owned by the National Thermal Power Corp. (NTPC), 25% by the Haryana government. This project has been fast-tracked since it is expected to start supplying electricity in time for … Read more BHEL exhibits confidence on execution of Aravali Power

The RBI is likely to continue with limited quantitative easing. The RBI has aggressively cut interest rates after the crisis began. Although there is still room to cut the cash reserve ratio (CRR), and we think they will cut it by 150 bp by mid-2009, the bulk of the rate cuts is behind us. Further, … Read more Quantitative easing – Likely in Indian Economy

Ranbaxy Laboratories Ltd (Ranbaxy) has informed us that the Medicines and Healthcare products Regulatory Agency (MHRA) of UK, and the Therapeutic Goods Administration (TGA), Department of Health and Ageing of the Australian Government, have issued Good Manufacturing Practice (GMP) certificates for its manufacturing site at Paonta Sahib (India), following a joint audit conducted in October … Read more Ranbaxy – Daiichi Paonta Sahib plant receives MHRA, UK and TGA, Australia Approvals