Maruti Suzuki plans to enhance its services

Maruti Suzuki is servicing over 10 lakh cars in a month, so to achieve this Maruti Suzuki is going to take various initiatives, mainly focusing on three major aspects as follows
1) skilled manpower,
2)system improvement
3)innovative practices à to upgrade the land area. Maruti Suzuki crossed the 10 lakh cars mark in May monthof this year for the 1st time, a senior company official said. our strategy is to increase service productivity as well as service quality at service workshops," Maruti Suzuki India Executive Officer (Service) Pankaj Narula said. The company has a network of 2,774 service workshops across 1,319 cities and it has upgraded around 600 dealer workshops to its specially designed Express format, while over 640 are 2-Tech workshops.

GM looking forward in India

Bankrupt US carmaker General Motors(GM) on June 5,2009 said India is one of the "very important" markets that held the key to its turnaround and said it hoped to achieve a double digit share by 2010 on the back of higher sales of mini cars. The company's Indian subsidiary, that will introduce two new model cars in the coming months, also plans to start export of a new mini car to Europe and Asia Pacific by the end of 2010 that will further boost its sales and revenues in the global markets. "US, China and India are among the key markets for the new General Motors(GM) that has been formed after bankruptcy. While home market United States is certainly the most important, China is uniformly important as it is big in numbers where we sold one million units of cars. India is also key as opportunities here are similar," Karl Slym, president of GM India, said. It hopes to achieve a 10% growth in India sales this year, has started a series of new campaigns to sign the negative effects of the bankruptcy news.

Suzlon paying final due for REpower Systems

One of the leading Indian wind turbine maker Suzlon said on June 6, 2009 it has completed buying Martifier's stake in Germany's REpower Systems for $122 m.
In a notification to the Bombay Stock Exchange(BSE), Suzlon Energy, the world's fifth-biggest wind turbine maker, said after the completion of this deal, it now holds 90.72% of shares and voting rights in REpower Systems."The achievement of the purchase of Martifer's stake in REpower is a big milestone for Suzlon," Tulsi Tanti, chairman and managing director of Suzlon Energy, said in a statement.


The Gold rate was not at all stable as we knows,Its keep on fluctuating for some days and its increasing only.Spot gold failed to follow-through above $960, retreating to test support at $925. The long tail, however, indicates buying support. Failure of this level would test $900, while recovery above $950 would indicate another test of $1000 — confirmed if price rises above $960. In the long term, breakout above $1000 would signal a primary advance with a target of $1100*, while failure of support at $900 would test primary support at the April low of $865.
* Target calculation: 1000 + ( 1000 - 900 ) = 1100
The Gold Miners Index [GDX] respected resistance at $40 — a bearish sign for gold. Twiggs Money Flow (13-Week) bearish divergence indicates strong selling pressure. Downward breakout from the trend channel (below $35) or TMF reversal below zero would warn of a primary trend change and a similar outcome for the yellow metal.

Airline industries in trouble: continuous decline

Already Airline industries lost their profit in the last few quarters and demand for air travel could decline further in spite of signs of a more stable global economy, and prediction of a recovery this year look dull, Air industry executives said at a meeting of the world's airlines on June 7th 2009. Airlines have been suffering from weaker demand because of the financial crisis and have also been upset by the sharp variation in oil prices in the past year.
"I think it's probably going to get worse," Rob Fyfe, chief executive of Air New Zealand, told press in an interview on the sidelines of an International Air Transport Association (IATA) board meeting.
The bearish comments difference with the more positive outlook from some global policymakers and economists about a global recovery in the wake of latest data such as the slowing pace of U.S. job losses.

ONGC joint venture with cairn

Oil & Natural Gas Corporation (ONGC) has approved a Cairn India plan to increase investment into their jv(joint venture) Rajasthan oilfields, media The total cost of developing the three oil fields, in which the Indian unit of Britain's Cairn Energy owns 70 percent, has increased to $3.8 billion from $2.93 billion, ONGC would invest $350 million more into the fields operated by Cairn India.
India is Asia's third-largest oil consumer. It imports 70 percent of the oil it consumes and is keen to tap domestic reservoirs to help bring down its dependence on imports.
The revised investment plan for Mangala, Bhagyam and Aishwariya oilfields includes $940 million for a pipeline to send away the crude to coastal part of Gujarat.ONGC owns the remaining 30 % in the venture and it has to pay the royalty on the entire crude oil production. The state-owned refiner will ask the Indian government to pay back the royalty payment it has to pay for Cairn as the new plan is economically unviable.

NHPC Limited -IPO

Public Issue Open: August 7,2009 to August 12, 2009
Public Issue Type: 100% Book Built Issue (Initial Public Offer IPO)
Public Issue Size: 1,67,73,74,015 Equity Shares of Rs. 10/-
Face Value: Rs. 10/-
Public Issue Price: Rs 30/- to Rs 36/-
Bid Lot: 175 equity shares
Maximum Subscription Amount for Retail Investor: Rs 100,000/-
Listing: BSE, NSE
Lead Manager: ENAM Securities, Kotak Mahindra
Registrar: Karvy Computershare Pvt Limited (Ph: +91-40-23420815 )

India's IT growth

The domestic(India) market seems to be coming to the aid of the IT-BPO industry, because it is projected to grow 15-18%, even as the export market is likely to grow a mere 4-7%. Damn sure that the export market is about thrice as much as the domestic market.
The National Association of Software and Services Companies (Nasscom) on Wednesday(July 29) said that the industry’s exports are expected to grow to between $48 billion and $50 billion, compared with $46.3 billion last year. Last year(2008-2009), the industry’s export revenues grew 16.3 %, says Nasscom, but calculations show only a 14.6% growth, from $40.4 billion in the previous year.
The root of the discrepancy lies in Satyam's Computer accounts, which are yet to be restated.Disclosing Nasscom’s projections at the body’s annual meet here, the Chairman, Mr Pramod Bhasin, stressed that even a 4-7 per cent growth is good, given the economic environment. He noted that core markets such as North America and verticals such as the banking and financial services industry “have started to stabilise”.
The domestic IT-BPO market is projected to grow at a higher rate — between 15 and 18% — to reach around Rs 67,000 crore, compared with Rs 57,000 cr last year. In dollar terms, domestic revenues were $12.5 billion in FY-09, Nasscom said. Fiscal 2009 figures grew 21 per cent over Rs 47,000 crore in fiscal 2008. The domestic market witnessed enhanced focus in the year ended March 2009 with “large transformational deals in telecom and e-governance, with contract value of outsourcing deals growing by 32%, Mr Bhasin told newspersons after releasing the Nasscom outlook for the industry in 2009-10.

India's export is growing sharply

After two consecutive years of growth, India’s exports contracted sharply to register a growth of 3.4 % in dollar terms in 2008-09. The decline was due to the global slowdown and the financial meltdown(RECESSION) in the second half of 2008 that hit overseas demand substantially. The Government announced export-friendly measures in two stimulus packages in Dec 2008 and Jan 2009, followed by one in the Interim Budget in February and another in the full-fledged Budget.Taking over as the Commerce Secretary in June, Dr Rahul Khullar, who worked in different capacities in the same Ministry before he became the Disinvestment Secretary for a brief period, spoke to Business Line about the various issues impinging on the export sector and the forthcoming 5 year Foreign Trade Policy at this critical juncture.