business

No rupee recovery in sight in Short Term

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India’s trade data for January supports our view that imports would decline more than exports in early 2009. We expect the trade balance to continue to improve in coming months, but the rupee is unlikely to benefit unless portfolio outflows decelerate (i.e., market sentiment improves and global risk aversion abates). Oil imports (falling 47.5% YoY) … Read more No rupee recovery in sight in Short Term

Mahindra’s subsidiary to invest Rs 1,000 cr in India

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Mahindra Logistics, the fully owned subsidiary of Mahindra & Mahindra, is planning to invest Rs 1,000 crore in India over the next 3-4 years, beating the ongoing economic slowdown. The investment would be utilized for modern warehouses. The company currently has 65 lakh square feet of warehousing space and plans to add another 27 lakh … Read more Mahindra’s subsidiary to invest Rs 1,000 cr in India

Global degrowth to stretch end-09 bottom out – Merrill

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Looking ahead, we think the Indian economy’s bottoming, but bottom out – 7.1% FY11 growth (7.5% earlier) – will likely stretch end-09. This assumes the G-3 stabilize 2H09: ECB likely cuts 50bp Thursday. Merrill expect continued intervention against contagion from Asian fx volatility. Expect a 50bp cut by April. Given INR volatility, the RBI might … Read more Global degrowth to stretch end-09 bottom out – Merrill

Hindustan Dorr wins order from HPCL-Mittal Energy

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Hindustan Dorr Oliver has won order from HPCL-Mittal Energy for engineering, shop & site fabrication, transportations and supply of process pressure vessels weighing from 50 MT to 250 MT each. The order is valued at Rs 24 crore and is scheduled for completion within a period of 12 to 14 months. Recently, the company bagged … Read more Hindustan Dorr wins order from HPCL-Mittal Energy