Mumbai water supply crisis a negative for Builders / Realty

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Maharashtra Chief Minister announced that new real estate projects which consume c200,000 litres of water supply per day (typically high rise buildings and townships) will not be awarded permissions until additional water supply from the Middle Vaitarna project is available after March 2012.

While the issue is a negative development for Mumbai property developers, we believe the impact will be limited for the following
reasons: 1) large projects (high rises and townships) typically take more than 24-30 months for construction before customers receive product. Hence any new project will incur a limited impact as it would be completed after March 2012; and 2) slum and other

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DoT may give 2G spectrum to newcomer entrant 3G winners

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In a move that will lead to increase in competition for the incumbent operators for the forthcoming auction of third generation (3G) spectrum, the department of telecommunications (DoT) is contemplating a move to provide 2G spectrum as well to the stand-alone winners of auction.

As per the revised memorandum issued by the DoT in October, along with the incumbent operators which have the Unified Access Service License (UASL), any player having experience of running 3G services is allowed to bid. The clause is primarily meant for the foreign operators. The DoT has also clarified that foreign operators can bid stand-alone and arrange a minority partner later.

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Rallis India – Optimistic Outlook by Management

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Management has indicated that the global agrochemical demand is still sluggish. Currently, the global agrochemical prices, though stable QoQ, are still lower YoY. In India, the rabi crop is promising because it is dependent mainly on water reservoirs. Management
has guided that water reservoir levels across the country are reasonably good, including North-east India which has been the most badly hit by poor monsoon.

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Asian copper at 15-month high in morning trades

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Copper prices gained for the fourth day to its 15 month high in morning trades in Shanghai on sings that the global recovery would renew demand for the industrial metal.

Copper for March delivery on the Shanghai Futures Exchange was trading at 56,070 yuan per tonne at 9:47 am Singapore time, after earlier touching 56,170 yuan a tonne, the highest level since September 5, 2008.

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