Sectoral Snippets

India Industry Information

Issue 42 - April 2010

KPMG IN INDIA
 Russell Parera Sectoral Snippets
Chief Executive Officer

KPMG in India Table of Contents

1. Indian Economy 3

2. Auto and Auto Components 4

Sectoral Snippets, Issue 42 3. Banking and Financial Services 5

4. Consumer Markets and Retail 6

5. Hospitality 7

6. IT/ITeS 8

7. Media 9

8. Oil and Gas 10

9. Pharma 11

10. Power 12

11. Real Estate and SEZs 13

12. Telecom 14

13. Transport and Logistics 15

About Sectoral Snippets

Sectoral
Snippets
is
an
India-focused,
monthly,
freely-distributable
newsletter
brought
out
by
KPMG
in
India.
This
newsletter
provides
an
overview
of
the
Indian
economy
in
the
form
of
news-briefs
from
across
key
sectors.

Contact
mknowledge@in.kpmg.com if
you
are
interested
in
receiving
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newsletter
on
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©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 3

Analyst: Nishtha Satyam

Indian Economy
As
the
International
Monetary
Fund
(IMF)
raises
the
world’s under
the
market-linked
focused
product
schemes,
covering
growth
forecast
to
4.1
percent
for
this
year,
India
continues
to sectors
like
electronics
and
engineering
chemicals
sold
to
tread
on
the
path
of
vigorous
growth.
Growth
expectations
for around
15
countries.

this
fiscal
year
have
been
re-pegged
at
around
8.25
–
8.75
In
a
few
other
initiatives
towards
increasing
bilateral
percent
by
the
Finance
Minister.

Much
of
this
growth
is
engagement
and
cross-border
collaboration
aimed
at
growth,
expected
to
be
driven
by
a
boost
in
private
consumption
and
the
Minster
for
Commerce,
Anand
Sharma
announced
the
plan
investment.

of
introducing
a
new
document
to
simplify
FDI
procedures.
The
After
recording
a
decent
7.2
percent
growth
in
2009-2010, new,
comprehensive
policy
document
is
likely
to
consolidate
up
indicating
fast-paced
recovery
by
the
Indian
economy,
exports to
178
different
press
notes
and
be
updated
every
six
months.

also
showed
a
positive
movement.
While
exports
rose
an
Furthermore,
India
asked
US-based
investors
to
participate
in
its
annual
34.8
percent
in
February
2010
to
touch
USD
16.09
billion,
USD
600
billion
investment
programme
over
the
next
five
imports
rose
66.4
percent
from
a
year
earlier
(2009)
to
USD
years,
as
both
countries
are
focused
on
developing
financial
25.06
billion.

cooperation
as
a
way
to
economic
strength.

To
further
boost
overall
recovery
in
exports,
the
government
is
Overall,
increasing
investments
in
infrastructure
and
efforts
now
considering
sops
for
select
sectors
where
recovery
in
the
towards
strengthening
economic
relationships
with
other
key
external
sector
is
still
underway.
Last
month,
the
Ministry
of
economies
is
likely
to
help
India
move
towards
better
economic
Commerce
announced
a
stimulus
package
for
exports
worth
strength.
INR
625
crore.
The
package
includes
incentives
for
200
items

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 4

Analyst: Ranjeet Javeri and Kudrat Puri

Auto and Auto Components


BMW to foray in used car business in India with
initial
output
capacity
of
36,000upa
in
the
first
phase.
BMW
plans
to
enter
pre-owned
car
business
in
India,
called This
might
be
followed
by
9-
and
15-tonne
trucks
in
phase
II.
‘BMW
Premium
Selection’.
The
first
showroom
is
likely
be The
company
plans
to
target
85
percent
localization
of
opened
in
Chennai
in
April
and
the
next
one
in
Gurgaon
in components.

the
third
quarter
of
the
year.
BMW
plans
to
leverage
its
existing
dealer
network
to
push
its
pre-owned
car
business.
Also,
the
company
plans
to
offer
financing
through
BMW


Ashok Leyland to shift focus on North India market
Ashok
Leyland
plans
a
strategic
move
in
North
India
by
Financial
Services.
BMW
plans
to
sell
300
pre-owned
cars
in
making
a
large
base
in
Pantnagar
and
Alwar.
The
company
the
first
year.
recently
set
up
a
manufacturing
plant
at
Pantnagar
in
order
to
cater
to
the
rising
demand
in
the
North
Indian
market
for


Ford enters India’s small-car segment with aggressive pricing medium
and
heavy
duty
trucks,
while
the
Alwar
plant
in
This
March,
Ford
India
launched
its
much-awaited
compact Rajasthan
is
likely
to
cater
the
bus
demand
in
North
India.
car
Figo
at
a
highly
competitive
price.
Its
1.2
litre
petrol Traditionally
Ashok
Leyland
is
a
South
Indian
dominant
player,
version
is
priced
at
USD
7777
to
USD
9822
and
1.4
litre
diesel but
now
plans
to
capture
market
in
North
India.
The
company
version
is
likely
to
be
priced
at
USD
9933
to
USD
11,755. targets
to
invest
USD
300
million
in
north
India.

Eighty
five
percent
of
the
Figo’s
components
are
localized
to
“Figo is an important part of our keep
maintenance
costs
low.
The
company
plans
to
launch
more
products
in
a
small
car
segment,
which
constitutes
over


Maruti Suzuki plans to double its petrol engine capacity
business strategy in India. If you are Maruti
Suzuki
India
plans
to
invest
USD
250
million
at
70
percent
of
the
total
domestic
market.
not present in the B-segment in India, Gurgaon
facility,
to
double
its
K-series
petrol
engine
capacity
you are not in the market at all,” to
five
lakh
units
by
2012,
from
current
capacity
of
2.6
lakh


Daimler plans to invest USD 967 million in India units.
The
news
K-series
engine
complies
with
the
Bharat
Daimler
Commercial
Vehicle
India
(DCVI)
is
to
invest
USD Stage-IV
emission
standards.
Currently
the
new
engine
Mr Michael Boneham, President and Managing
967
million
in
India
over
the
next
five
years,
with
plans
to
set powers
the
Swift,
A-Star,
Ritz,
Estilo
and
SX4
and
plans
to
Director Ford India
up
a
manufacturing
plant
near
Chennai,
India.
The
planned extend
it
to
all
other
petrol
models
except
the
Maruti
800.

(Source: Business Line, Ford gets aggressively with Figo
pricing, 10 March 2010) facility
is
likely
to
produce
25-
and
49-tonne
heavy-duty
trucks

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 5

Analyst: Kunal Jain and Ruchika Anand

Banking and Financial Services


Credit Suisse and ANZ gets Indian banking license
Leading
Swiss
bank,
Credit
Suisse
has
received
in-principle
approval
for
Reserve
Bank
of
India
(RBI)
to
offer
banking
services
in
India.
The
bank
plans
to
start
off
with
a
branch
in
Mumbai.
Currently,
Credit
Suisse
has
a
merchant
banking
license
for
investment
banking
and
a
portfolio
management
license
for
its
wealth
management
business.
Earlier
in
the
month,
Australia
and
New
Zealand
Banking
Group
(ANZ)
also
received
in-principle
approval
from
RBI
to
set
up
a
branch
in
India.
These
approvals
are
part
of
a
group
of
foreign
banks
that
RBI
has
allowed
to
start
India
operations.
These
include
UBS
AG,
First
Rand
Bank,
Commonwealth
Bank
of
Australia,
and
Australia
and
New
Zealand
Banking
Group
Ltd.
Meanwhile,
US-based
bank
Goldman
Sachs
Group
Inc.,
which
has
an
investment
banking
unit
in
India,
is
also
awaiting
approval
for
a
commercial
banking
license.
Muthoot
Housing
Finance
Limited,
the
Muthoot
group
plans
to
target
the
affordable
housing
segment.
In
the
initial
phase,
Muthoot
Housing
Finance
is
expected
to
have
25
branches
in
the
suburbs
of
major
metros
like
Mumbai
and
Chennai.


Religare to enter Japanese market
Religare
Enterprises
plans
to
establish
its
asset
management,
sales
and
distribution
business
in
Japan.
The
company
has
hired
a
team
from
KBC
Financial
Products
for
this
foray.
In
addition,
the
company
has
applied
for
investment
advisory
and
agency
business
licences
with
Japan's
financial
regulators
and
plans
to
follow
it
up
by
applying
for
a
discretionary
investment
management
licence.
This
initiative
is
in-line
with
Religare's
plans
to
earmark
around
USD
1
billion
for
strategic
investments
in
the
diversified
asset
management
businesses
globally.

The Reserve Bank of India (RBI)

announcement to hike repo and


reverse repo rates by 25 bps each to
5 percent and 3.5 percent,
respectively, with immediate effect.
RBI citied the recent strong Industrial
Index of Productivity (IIP) data as a
sign of economic revival. Hence, RBI
feels the need to take monetary
action to avoid Wholesale Price Index
(WPI) inflation from crossing into


double digits by March 2010.
(Source: RBI Press Release, 19 March 2010, IIFL Research)
ICICI gets approval for full banking operations in Singapore
ICICI
Bank,
one
of
India’s
leading
private
sector
banks,
has
received
approval
from
The
Monetary
Authority
of
Singapore
to
launch
full
banking
operations
in
Singapore.
Earlier
in
1993,
The
Monetary
Authority
of
Singapore
had
granted
ICICI
a
license
to
transact
banking
business
for
offering
services
such
as
international
loan
syndication
and
corporate
banking.
However,
after
getting
the
qualified
full
banking
(QFB)
status,
ICICI
will
be
able
to
offer
services
including
taking
deposits
and
giving
loans
in
Singapore.
Muthoot to set up home loan subsidiary
Muthoot
Pappachan
Group,
a
leading
Non
Banking
Finance
Company
(NBFC)
based
out
of
Kerala,
plans
to
foray
into
the
housing
finance
business
by
investing
around
USD
22
million
in
a
separate
subsidiary
in
FY11.
Through
the
new
company,
IDBI Bank’s subsidiary gets SEBI approval to start mutual fund
IDBI
Bank’s
fully-owned
unit
IDBI
Asset
Management
Ltd.
has
received
Securities
and
Exchange
Board
of
India
(SEBI)
approval
to
launch
mutual
fund
operations.
The
company
plans
to
launch
products
across
equity
and
fixed
income
categories.
IDBI
Bank
has
invested
around
USD
5
million
in
its
mutual
fund
unit.
The
bank
plans
to
use
its
established
network
of
700
braches
to
distribute
mutual
fund
products.
The
bank
believes
that
mutual
fund
business
augurs
well
with
its
vision
of
providing
entire
gamut
of
financial
services
to
clients.

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.

Consumer Markets and Retail


Danone plans a health drinks' JV with an Indian partner
French
Food
major,
Groupe
Danone
is
close
to
formalising
a
joint
venture
with
the
India-based
Narang
Hospitality
Services
for
manufacturing,
marketing
and
distributing
nutritional
beverages
such
as
fortified
water
and
juices
in
India.
Danone
India,
a
wholly-owned
subsidiary
of
the
French
food
group,
is
expected
to
hold
a
minority
stake
in
the
joint-
venture
company,
Quarisma
Beverages.
Danone
India
already
has
a
tie-up
with
Narang
Hospitality
for
importing
and
distributing
its
premium
packaged
water
brand
Evian
in
India.



US-based cosmetic firm Mary Kay to invest USD 20 million in India
Mary
Kay
plans
to
invest
around
USD
20
million
in
the
next
five
years
to
strengthen
its
presence
in
India.
The
funds
are
expected
to
be
utilized
on
product
development,
infrastructure
and
building
its
brand.
The
direct
selling
“India is among the top 10 markets company
plans
to
focus
on
training
its
consultants
and
enhancing
its
supply
chain
across
the
country.

The
company
for the company and it will be among
has
already
invested
around
USD
2
million
in
the
last
two
the top five within the next five
and
half
years.
At
present,
Mary
Kay
employs
around
4,000
years,” direct
sellers
and
is
looking
at
increasing
its
sales
force
as
well
as
entering
new
markets
like
Uttar
Pradesh,
Gujarat
and
Luca Tomat, Business unit director of Lotto, Southern
India
by
the
end
of
the
year.
Asia Pacific
(Source: The Economic Times, Lotto to invest $10 mn in India,
March 26, 2010)
©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
6
Analyst: Sonia Topiwala


India’s personal care major, Godrej Consumer Products buys
Nigeria's personal care company Tura
India's
Godrej
Consumer
Products
(GCP)
has
agreed
to
buy
personal
care
company
Tura
from
Nigeria's
Tura
Group.
The
deal
size
was
not
disclosed.
As
per
industry
sources,
Tura's
current
management
team
is
likely
to
continue
to
lead
the
business.
Tura
is
expected
to
help
GCP
in
its
endeavor
to
build
a
pan-African
presence
for
its
core
categories
such
as
personal
wash
and
hair
care.
This
acquisition
follows
GCP's
acquisitions
of
the
Rapidol
and
Kinky
businesses
in
South
Africa
over
the
last
two
years.


India’s largest cigarette maker ties up with one of the oldest cigar
makers of the world La Aurora
ITC
has
teamed
up
with
La
Aurora,
run
by
the
Leon
Jimenes
family
of
Santiago
in
the
Dominican
Republic,
to
unveil
a
mint-fresh
line
of
premium
handrolled
cigars.
The
cigars
are
to
be
rolled
out
under
the
Armenteros
brand
and
be
manufactured
at
La
Aurora
unit
in
the
Caribbean.
The
development
makes
ITC
the
first
Indian
company
to
enter
the
USD
7
million
cigar
business
in
the
country.

 7

Analyst: Pallavi Phatak

Hospitality


Hotel Leela Ventures to invest ~USD 300 million for new properties
Hotel
Leela
Ventures,
one
of
the
leading
hospitality
chains
in
India
plans
to
expand
its
presence
across
India
by
developing
new
hotel
properties.
The
company
has
already
purchased
a
land
to
develop
new
properties
in
New
Delhi,
Agra,
Hyderabad,
Pune
and
Chennai.
The
company
is
likely
to
invest
USD
301.3
million
(INR
13500
million)
by
2015
for
these
projects.
The
company
plans
to
raise
around
USD
40
million
through
qualified
institutional
placement
of
shares.


Ginger Hotels aiming at having 50 properties in next two years
Ginger
Hotels,
the
budget
hotel
arm
of
Indian
Hotels
managing
21
properties
is
set
to
add
nine
properties
in
the
current
financial
year.
The
company
plans
to
increase
its
number
of
properties
to
50
in
next
couple
of
years
by
setting
up
hotels
across
major
metros,
tier
II
and
III
cities
in
India.
About
60
percent
of
the
company’s
business
comes
from
corporate
clients.
As
per
the
company
the
budget
hotels
category
which
has
11
percent
of
total
room
supply
provides
significant
potential
for
growth.

Sarovar Hotels to expand aggressively in the next financial year
The
Delhi-based
hospitality
chain,
Sarovar
Hotels
is
on

Amari forays into Indian Hospitality
expansion
spree
and
plans
to
add
18
properties
under
its Amari,
a
Thailand-based
hospitality
group
has
entered
into
the
management
contract
in
the
next
financial
year.
The
company Indian
hospitality
sector
through
a
joint
venture
with
Ten
is
eyeing
the
properties
in
Special
Economic
Zones, Hotels
Pvt
ltd.
The
joint
venture
entity,
Amari
India
is
likely
to
manufacturing
clusters
and
growth
corridors
for
expansion operate
7
properties
with
1050
rooms
in
India
by
2015.
The
“The real estate boom and bust has under
management
contracts.
During
2009-2010,
the company
intends
to
open
these
properties
in
limited
service
company
added
nine
properties
taking
its
portfolio
of and
mid-upper
scale
hotel
segments,
in
metros
and
tier-II
also resulted in lot of learning, which
managed
properties
to
24.
The
new
properties
are
likely
to cities.
began to look at properties for
increase
the
total
number
of
rooms
under
the
company’s
managing approach rather than management
contracts
to
around
5,000.
owning them. This has resulted in a
hybrid model that combines fully
owned ones with management
deals,”

Mr Prabhat Pani, Chief Executive Officer, Roots

Corporation Ltd. (Manages Ginger Hotel chain)
(Source: The Hindu Business Line, Ginger Hotels on expansion
mode, March 29, 2010)

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 8

Analyst: Sandeep Chopra and Yesha Mehta

IT/ITES


TCS wins 10-year UK pension deal for USD 900 million
Tata
Consultancy
Services
(TCS)
has
won
a
USD
900
million
outsourcing
contract
from
the
UK
government
for
10
years.
TCS
is
likely
to
set
up
and
maintain
the
information
technology
(IT)
system
for
the
UK’s
national
pension
scheme.
TCS
is
likely
to
build
and
administer
the
National
Employment
Savings
Trust
(NEST)
which
is
going
to
be
launched
in
2012.
TCS
is
going
to
be
responsible
for
providing
IT-enabled
services
related
to
employer
participation,
member
enrolment,
collection
and
reconciliation,
cash
management,
accessing
pension
savings
and
administration
of
accounts.



Wipro Infotech wins Finance Ministry project for USD 21 million
Wipro
Infotech
has
won
a
turnkey
project
from
Financial
Intelligence
Unit
(FIU),
Ministry
of
Finance
for
USD
21
million.
The
project
is
scheduled
to
be
completed
in
two
years
in
different
phases
with
a
further
service
period
of
three
years.
As
a
part
of
the
project,
Wipro
is
likely
to
implement
Financial
Intelligence
Network
for
FIU
and
can
provide
portal
development,
data
warehousing,
analytical
application
and
ERP
implementation,
at
the
data
center
and
disaster
recovery
site.

Aditya Birla Minacs acquires UK-based Compass BPO


Wipro signs a seven year IT contract with The Main Street America Aditya
Birla
Minacs
acquired
UK-based
Compass
BPO
Ltd.
a
Wipro
Technologies
has
signed
a
seven
year
IT
contract
with pure-play
end-to-end
Finance
and
Accounting
(F&A)
services
US-based
insurance
company,
The
Main
Street
America provider,
for
an
undisclosed
amount.
Through
this
acquisition,
Group,
a
leading
provider
of
commercial,
personal
and Minacs
is
likely
to
take
over
all
the
operations
of
Compass
The Indian IT industry that had taken security
insurance
products.
The
financial
detail
of
the
deal across
the
UK,
US,
Middle
East
and
India.
Compass
BPO
has
was
not
disclosed.
Under
the
terms
of
the
agreement,
The appeared
in
the
top
15
upcoming
F&A
BPO
players
in
a
a quantum leap, post liberalization
Main
Street
America
Group
is
likely
to
engage
with
Wipro
for recent
Gartner
report.
two decades ago, has matured over
application
development,
maintenance
and
quality
assurance.
the years. Besides technology and Wipro
is
likely
to
support
Main
Street’s
personal
lines
domain expertise, cost has been a business,
US
firm’s
commercial
lines
and
bond
processing

major factor in making India a systems.

software services powerhouse.

Changing dynamics of the macro-
economic environment and the anti-
outsourcing wave in the US continue
to haunt the Indian IT sector.

Som Mittal, President Nasscom

(Source: The Financial Express, Software exports to mint USD
225 billion by 2020, generate 30 million jobs, March 4, 2010 )

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.

Media
“India presents a huge opportunity for
us and we will offer our clients the
best technologies that we have
globally. We will invest USD 150
million over the next 3-4 years to
expand the operations at our
Bangalore center”
Warren Pearsall, NDS, Director Major
Accounts (Asia Pacific)
(Source: Economic Times, NDS to invest USD 150 mn; to hire
200 people in next 6 months, March 22, 2010)
9
Analyst: Mehul Desai


Media and Entertainment (M&E) Industry set to grow at 13 approximately
USD
36
million.
INM,
the
owner
of
the
percent Independent
newspaper
in
the
UK
still
has
a
balance
of
6
According
to
a
report
released
by
FICCI
and
KPMG
in
India, percent
stake
in
the
Indian
media
company.


the
Indian
M&E
Industry
grew
by
1.4
percent
in
2009
to
reach
USD
12
billion
over
2008.
Some
sectors
which
were
impacted
and
registered
negative
growth
rates
were
films,


NDS to invest USD 150 million
Broadcasting
solutions
provider,
NDS,
has
plans
to
invest
radio
and
out-of-home.
On
the
other
hand,
touching
double
USD
150
million
to
expand
its
research
and
development
digit
growth
rates
were
television,
internet,
gaming
and
operations
over
the
next
three
to
four
years.
Over
the
next
animation.
TV
and
Print
remained
the
largest
sectors
of
the
six
months,
the
company
plans
to
hire
200
employees
taking
industry
contributing
over
70
percent
of
the
revenues.
Over
the
total
head
count
1500,
making
it
the
largest
center
for
the
next
five
years,
the
industry
is
poised
to
grow
at
a
CAGR
NDS
globally.
The
company
has
already
invested
of
13
percent
to
reach
USD
24
billion
by
2014.
approximately
USD
130
million
for
its
Indian
operations.
Owned
by
Premira
Fund
and
News
Corporation,
NDS,


Sahara and Rendezvous win bids for Indian Premier League (IPL) provides
technologies
which
allows
the
pay-TV
operators
to
Teams generate
revenues
by
delivering
value
added
services.
Sahara
Group
and
Rendezvous
Group
have
won
the
bid
for
two
new
IPL
team
for
a
combined
price
of
USD
703
million.
Sahara
Group
promoted
Sahara
Adventure
Sports
have
won


Scripps plans production hub in India
American
cable
operators,
Scripps
Network
is
planning
to
the
Pune
franchise
after
bidding
USD
370
million,
64
percent
move
its
television
production
hub
for
its
global
operations
in
higher
than
the
floor
price
of
USD
225
million.
Rendezvous
India
due
to
low
production
costs.
The
company
plans
to
Sports
World,
a
consortium
of
five
companies
has
won
the
export
the
content
produced
in
India
to
South
Africa,
the
UK
Kochi
franchise
with
a
bid
of
USD
333
million.
Among
the
and
West
Asia.
The
company,
in
November
2009,
had
also
other
cities
on
offer
were
Cuttack,
Ahmedabad,
Nagpur,
announced
69
percent
acquisition
in
NDTV
Lifestyle
for
USD
Dharamsala,
Indore
and
Visakhapatnam.
The
fourth
edition
of
55
million
which
is
expected
to
be
completed
in
the
Q1FY11.
IPL
in
2011
is
to
feature
10
teams
and
a
total
of
94
games.
Scripps
also
plans
to
launch
food,
travel
and
home
and
gardening
channels
over
the
next
five
years
in
India.


Independent News and Media sell stake in Jagran Prakashan
Continuing
with
its
strategy
of
exiting
non-core
assets,
UK-
based
Independent
News
&
Media
(INM),
has
offloaded
7.5
percent
stake
in
Jagran
Prakashan.
The
company
has
sold
its
stake
for
USD
56
million
to
domestic
and
foreign
funds.
In
2005,
the
company
had
acquired
26
percent
stake
for
©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.

Oil and Gas


India to add 7450 km to gas pipeline network in three years
India
is
likely
to
add
over
7450
km
of
gas
pipeline
network
and
248
million
metric
standard
cubic
meters
per
day
(mmscmd)
to
the
gas
transport
infrastructure
in
the
coming
3
years.
This
is
likely
to
ramp
up
its
supply
lines
and
help
keep
pace
with
the
growing
demand
from
the
consumption
centres
in
the
country.
Most
of
India’s
gas
pipeline
infrastructure
is
concentrated
in
the
west
and
north
regions
of
the
country
whereas
the
regions
of
south
and
east
are
largely
untouched.
Thus
the
challenge
that
India
is
likely
to
face
is
to
develop
the
pipeline
infrastructure
across
all
parts
of
the
country.


OVL loses Uganda oil property to Chinese firm
Oil
&
Natural
Gas
Corporation’s
(ONGC)
overseas
arm,
ONGC
Videsh
Ltd.
(OVL),
has
lost
out
an
acquisition
of
Uganda
oil
“The challenge for an emerging fields
to
China
National
Offshore
Oil
Corporation
(CNOOC).
OVL
was
interested
in
acquiring
Heritage
Oil’s
50
percent
market like India is to develop
share
in
Block
1
and
3A
in
the
Lake
Albert
Rift
Basin
of
pipeline infrastructure in all parts of
Uganda.
The
consortia
consisting
of
OVL,
Oil
India
Ltd.
(OIL)
the country, including in remote and
Indian
Oil
Corporation
(IOC)
offered
USD
2.1
billion
for
areas, in tandem with increasing the
block
but
were
later
outbid
by
CNOOC
which
offered
supplies. Only then we will be able to USD
2.5
billion
for
it.
India
continues
to
face
stiff
competition
from
China
regarding
the
acquisition
of
reserves
and
has
lost
secure inclusive growth.”
out
on
various
occasions
in
the
past
as
well.
In
order
to
feed
their
surging
economies
both
the
countries
have
been
Murli Deora, Petroleum Minister
constantly
competing
against
each
other.
(Source: The Economic Times, India to add 7450 km to gas
pipeline network in 3 years, March 22, 2010)
©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
10
Analyst: Suman Lala


Lyondell rejects Reliance bid, plans restructuring
Petrochemicals
firm,
Lyondell
Basell
has
rejected
Indian
energy
major,
Reliance
Industries
Ltd’s.
(RIL)
USD
14.5
billion
offer
and
has
outlined
a
restructuring
plan
for
itself.
This
deal
was
expected
to
create
one
of
the
world’s
biggest
independent
oil
refining
and
petrochemicals
groups.
However,
Lyondell
was
of
the
opinion
that
RIL’s
offer
was
not
sufficiently
valuable
to
abandon
the
reorganization
plan
of
the
firm
and
thus
preferred
to
opt
for
a
settlement
brokered
with
creditors.




ONGC wins 17 blocks in NELP VIII
The
Cabinet
Committee
on
Economic
Affairs
(CCEA)
has
approved
33
out
of
the
total
36
exploration
areas
that
were
bid
in
the
latest
New
Exploration
Licensing
Policy
(NELP)
round.
NELP
VIII
offered
a
total
of
70
blocks;
however,
only
36
blocks
attracted
bids.

ONGC,
along
with
its
partners
bid
for
a
total
of
25
blocks
and
won
17.
Of
the
total
24
deepwater
blocks
on
offer,
bids
were
received
for
only
eight
with
ONGC
and
partners
bagging
seven
off
them.
The
firm
also
won
five
shallow
water
blocks
as
lead
partner
and
one
with
OIL
as
the
operator.
With
respect
to
onland
blocks,
ONGC
won
four
blocks.
In
totality,
ONGC
won
17
blocks;
14
as
operators
and
three
as
non-
operator.
In
the
earlier
seven
NELP
rounds
too,
ONGC
won
almost
half
of
the
203
blocks
awarded.

 11

Analyst: Nandita Kudchadkar & Parnika Dayal

Pharma


Ranbaxy enters into agreement with Pfenex for biosimilars
Ranbaxy
Laboratories
Limited
entered
into
an
agreement
with
US-based
Pfenex
Inc.
for
the
development
of
biosimilars.
The
companies
are
expected
to
collaborate
in
the
development
of
production
strains
and
commercial
making
of
biosimilar
product
as
well
as
in
the
development
of
the
process
that
will
be
used.
The
products
are
to
be
developed
using
the
‘Pfenex
Expression
TechnologyT´
platform,
a
technology
that
uses
recombinant
protein
expression
of
bacteria,
pseudomonas.
The
agreement
entitles
Pfenex
to
receive
maintenance
fee,
milestone
payments
as
well
as
royalty
payments
on
any
product
sales
derived
from
the
agreement.


Strides, Elder Pharma raise stake in overseas arms
As
a
strategic
move
to
increase
control
in
foreign
ventures,
two
of
India’s
leading
pharma
companies
have
announced
a
“The key reason for the aggressive
stake
hike
in
their
respective
overseas
business
arms.
(DMF) filing by Indian companies is
their preparation for exploring the Strides
Arcolab
Limited
acquired
a
50
percent
stake
in
its
two
oncology
joint
ventures
(JVs)
from
its
South
Africa-based
imminent generic boom that is
JV
partner
Aspen
Pharmacare
Holdings
Limited
for
USD
117
awaited in the world pharmaceutical
million.
Strides
is
expected
to
license
the
existing
and
future
market in the next two to three oncology
products
to
Aspen
for
distribution
in
certain
years.” regions.
Elder
Pharmaceuticals
increased
its
stake
in
its
Bulgarian
P.V. Appaji, Executive Director, Pharmexcil subsidiary
Elder
Biomeda
AD
by
10
percent
to
61
percent
for
(Source: Livemint, Indian firms overtake US in FDA drug filings, an
undisclosed
sum.
With
this
move,
the
company
seeks
to
March 18, 2010)
strengthen
its
presence
in
the
European
market.

companies
globally.
AuroSource
is
setting
up
a
modern
R&D
facility
at
Pashamylaram
which
is
expected
to
have
another
140-50
scientists.
Additionally,
it
is
in
the
process
of
drafting
expansion
plans
to
begin
offering
services
in
fields
such
as
medicinal
chemistry
and
other
discovery
services.


India surpasses US in DMFs filed with US FDA
According
to
an
analysis
of
the
US
FDA
database
by
India’s
Pharmaceutical
Export
Promotion
Council
(Pharmexcil),
Indian
pharmaceutical
companies
filed
2,101
drug
master
files
(DMFs)
till
September
2009.
This
accounts
for
29.25
percent
of
the
total
7,183
DMFs
filed,
overtaking
even
the
US
which
has
filed
1,122
DMFs
since
1998.
A
sizeable
portion
of
these
filings
from
India
have
been
made
since
2008.
The
leading
Indian
companies
in
terms
of
DMFs
filed
were
Dr.
Reddy’s
Laboratories
Limited,
Aurobindo
Pharma
Limited
and
Cipla
Limited.



US PE firm invests in Nectar Lifesciences
New
Silk
Route
Partners
(NSR),
a
US-based
Private
Equity
(PE)
firm
has
bought
over
30
percent
in
Nectar
Lifesciences
Limited,
an
Indian
pharmaceutical
company.
Under
the
deal,
NSR
acquired
a
20.5
percent
stake
(46
million
equity
shares)
through
global
depository
receipts
for
around
USD
35
million
(INR
160
crore)
and
the
balance
was
acquired
directly
as
underlying
equity
shares
for
around
USD
20
million
(INR
90
crore).
The
company
is
likely
to
utilize
the
funds
for
expansion
of
generic
pharmaceutical
business,
construction
of
new
manufacturing
plants,
as
well
as
research
and
development.

Aurobindo Pharma sets up new division for CRAMS
Aurobindo
Pharma
Limited,
an
Indian
pharmaceutical
company,
introduced
a
new
division
‘AuroSource’
that
caters
to
custom
R&D
and
manufacturing
services
(CRAMS)
for
large,
mid-sized
and
emerging
biotech
and
pharmaceutical

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.

Power


GMDC to invest USD 106 million in wind power
The
State-promoted
Gujarat
Minerals
Development
Corporation
Ltd.
(GMDC)
plans
to
invest
USD
106
milion
in
the
next
two
financial
years
to
generate
81
MW
of
wind
energy
at
two
different
places
in
the
State
of
Gujarat.
GMDC
plans
to
fund
these
projects
through
market
borrowing
(70
percent)
and
internal
accruals
(30
percent).
It
will
raise
around
USD
33
million
in
the
next
two
years
from
internal
resources
and
tie-up
with
Gujarat
State
Financial
Services
Ltd.
(GSFS)
for
the
loan
component.



Essar Power to raise USD 242 million from IDFC for Hazira Project
Essar
Power
is
likely
to
raise
USD
242
million
from
Infrastructure
Development
Finance
Company
(IDFC)
for
its
proposed
270
MW
power
project
in
Hazira.
The
estimated
cost
of
the
project
is
USD
315
million.
The
finance
is
expected
to
be
raised
in
the
form
of
debt
from
IDFC
at
an
interest
of
8-10
percent.
The
balance
fund
requirement
of
USD
73
million
is
to
be
met
through
internal
accruals
of
Essar
Power.


Reliance Infra Commissions 600-MW Plant in Haryana
Reliance
Infrastructure,
part
of
the
Anil
Dhirubhai
Ambani
Group,
has
commissioned
the
first
phase
of
1,200-MW
Rajiv
Gandhi
Khedar
Thermal
Power
Plant
by
putting
600
MW
on
stream
at
Hissar
in
Haryana.
The
USD
835
million
project,
promoted
by
the
Haryana
Power
Generation
Corp
(HPGC),
is
being
executed
by
the
engineering,
procurement
and
construction
division
of
Reliance
Infrastructure,
which
was
awarded
in
2007.


Essar buys Aries coal mines in Indonesia
The
Essar
Group
has
signed
a
definitive
agreement
to
purchase
Aries
coal
mines
in
Indonesia.
The
deal
gives
Essar
Power
access
to
an
estimated
resource
base
of
100
million
©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
12
Analyst: Rajiv Parekh
tonnes
of
thermal
coal
and
mineable
reserves
of
64
million
tonnes.
The
Aries
coal
mines
are
located
in
the
Kutai
region
of
East
Kalimantan
in
Indonesia.
The
high-quality
bituminous
coal
has
gross
calorific
value
(GCV)
of
6,000
with
low
ash
and
low
moisture
and
is
suitable
for
power
plants.
Production
from
the
Indonesian
mine
is
expected
to
start
within
a
year.
This
acquisition
adds
another
100
million
tonnes
to
company’s
existing
thermal
coal
resource
base
of
about
275
million
tonnes
in
India



Birla Power to invest USD 1099 million in thermal & solar power
projects
Yash
Birla
owned,
Birla
Power
Solutions
is
expected
to
invest
nearly
USD
1099
million
to
set
up
thermal
and
solar
power
projects
in
the
next
three
years.
The
group
is
expected
to
set
up
600
MW
of
thermal
power
plant
capacity
in
Maharashtra
and
125
MW
solar
power
capacity
in
Andhra
Pradesh,
Rajasthan,
Uttaranchal
and
Haryana.
The
investments
in
the
power
projects
will
have
a
debt-equity
ratio
of
70:30.
The
equity
component
will
be
funded
through
various
options,
including
contribution
from
the
promoters
and
private
equity
funds,
while
debt
will
come
from
institutions
like
State
Bank
of
India
and
Power
Finance
Corporation
etc.

India’s Nuclear Power Capacity (GW)
63
23.7
7.3
1.9 3.4 4.1
FY95 FY00 FY10 FY11 FY20 FY32
Source: Report on Nuclear Power Opportunity, Motilal Oswal, 09 February 2010
 13

Analyst: Rajiv Parekh

Real Estate and SEZs


Mega housing project for Central forces

DLF sells 1200 housing units at Panchkula
The
Government
of
India
has
launched
a
mega
housing DLF,
one
of
the
leading
real
estate
developers
in
country
is
project
aiming
construction
of
nearly
100,000
houses
across reported
to
have
sold
approximately
1200
independent
floors
the
country
for
Central
Para
Military
Forces
(CPMF) covering
2
million
sq.
ft.
in
the
first
phase
of
its
integrated
personnel.
The
houses
are
to
constructed
through
the
public- township
at
Panchkula
(Haryana)
within
a
week
of
the
project
private
partnership
(PPP)
mode
in
about
four
years.
The launch.
DLF
is
likely
to
develop
10
million
sq.
ft.
of
area
in
the
Ministry
of
Home
Affairs
(MHA),
in
consultation
with
the township
in
various
phases.


Central
forces
like
Border
Security
Force
(BSF),
Central
Reserve
Police
Force
(CRPF),
Indo-Tibetan
Border
Police
(ITBP),
Sashastra
Seema
Bal
(SSB)
and
Assam
Rifles
(AR),

Shriram Properties to enter hospitality sector
has
identified
245
sites
across
the
country
where
land
is Real
estate
developer
Shriram
Properties
is
likely
to
enter
the
readily
available
to
begin
construction
work.
As
many
as
30 hospitality
sector
through
the
acquisition
of
assets
during
sites
have
been
taken
up
on
pilot
project
basis
and
notice
for this
financial
year.
Asset
acquisition
is
likely
to
be
carried
out
request
for
qualification
(RFQ)
for
the
sites
have
been
issued.
in
three-star
and
budget
categories
with
a
special
focus
on
properties
in
Mumbai
and
Delhi
apart
from
those
in
Southern
India.


Ambuja Realty to invest in commercial office projects
Ambuja
Realty
is
planning
to
launch
a
number
of
commercial
office
projects
at
an
estimated
investment
of
USD
198
million
over
three
to
four
years.
Two
of
its
proposed
projects
Commercial Absorption Rates (%)
will
come
up
at
Salt
Lake
Sector-V.
The
two
business
parks
70
with
saleable
areas
of
5
lakh
sq
ft
and
1.5
lahh
sq
ft
would 60
entail
investments
of
USD
44
million
and
USD
13
million 50
40
respectively.
The
third
project
of
about
one
lakh
sq
ft
would 30
come
up
at
Rajarhat
near
City
Centre
II
at
an
investment
of 20 17
10 7 10
USD
8
million.
Other
commercial
projects
by
Ambuja
in
the
0
pipeline
are
an
integrated
mall,
hotel
and
office
space
project

1QCY07

3QCY07
4QCY07
2QCY02
1QCY06
2QCY06
3QCY06
4QCY06

1QCY09
2QCY09
3QCY10
1QCY08
2QCY08
3QCY08
4QCY08
1QCY05
2QCY05
3QCY05
4QCY05
2QCY04
3QCY04
4QCY04
at
Siliguri
at
a
proposed
investment
of
USD
55
million,
shopping
mall
and
commercial
space
projects
at
Patna
and
Raipur
(USD
33
million)
and
a
2.5
lakh
sq
ft
business
park
at Source: Report on Real Estate, Motilal Oswal, October 2009

Haldia
(USD
15
million).

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 14

Analyst: Neha Dayal and Rishabh Chadha

Telecom


Government puts off MNP till June 30, 2010
The
government
has
announced
that
MNP
will
be
implemented
on
June
30,
2010.
This
has
been
done
so
that
each
operator
can
test
the
viability
of
the
entire
system
so
as
to
help
ensure
seamless
implementation
of
MNP
across
the
country.



Tata Quippo to divest 10 percent stake
Tata
Quippo
intends
to
bring
in
a
financial
partner
and
divest
around
10
percent
stake
in
the
company
for
a
value
of
USD
330
million.
Through
this,
the
company
intends
to
retire
a
debt
of
USD
330
million
that
it
had
raised.
The
funds
that
buy
out
this
stake
will
become
a
part
of
the
Quippo
block
which
holds
a
46
percent
stake
in
the
joint
entity.

Bharti signs definitive deal with Zain
On
March
30,
2010,
Bharti
Airtel
signed
a
legally
binding,
definitive
agreement
with
the
Kuwait-based
Zain
Group
for
the
acquisition
of
its
African
operations.
The
deal
was
signed
in
Amsterdam
and
as
per
the
terms
of
the
agreement
Bharti
will
take
over
Zain’s
mobile
services
operations
in
15
countries
across
Africa
along
with
a
combined
subscriber
base
of
42
million.





RCom touches 100 million subscriber base
Reliance
Communications
announced
that
it
has
breached
the
100
million
subscriber
benchmark.
The
telco
entered
the
market
seven
years
ago
with
the
launch
of
CDMA
services
and
launched
its
GSM
services
in
2009.
It
is
the
only
company
after
Airtel
in
India
to
have
crossed
this
benchmark.

“This agreement is a landmark for the

STel ordered to shutdown services


DoT releases bidders list for the 3G and BWA auctions STel
has
been
ordered
to
shut
down
mobile
services
in
all
global telecom industry and game
The
DoT
has
come
out
with
the
pre-qualified
list
of
bidders three
circles
that
it
is
present.
The
company
recently
changer for Bharti. We believe that for
the
3G
and
BWA
auctions.
All
nine
applicants
for
the
3G launched
service
in
December,
2009
in
Himachal
Pradesh,
the strength of our brand and the spectrum
have
been
approved.
Bharti
Airtel,
Reliance Orissa
and
Bihar
circles.
STel
is
the
joint
venture
between
historical Indian connect with Africa Telecom,
Idea
Cellular,
Tata
Teleservices
Ltd.,
Aircel
Ltd
and the
Siva
Group
and
Bahrain
Telecommunications
Co
Vodafone
Essar
are
going
to
bid
for
3G
Spectrum
across
all (Batelco).


coupled with our unique business
telecom
circles
whereas
Videocon
Telecommunications
Ltd.,
model will allow us to unlock the S
Tel
Pvt.
Ltd.
and
Etisalat
DB
Telecom
India
Pvt.
Ltd.,
will
bid
potential of these emerging markets” to
operate
in
a
limited
number
of
areas.

Eleven
applicants
will
be
participating
in
the
BWA
spectrum
Sunil Bharti Mittal, Chairman, Bharti
auctions.
Eight
players
including
Bharti,
Idea
Cellular,
Aircel,
Enterprises
Infotel
Broadband
Services
Pvt.
Ltd.,
Qualcomm
Inc.,
(Source: Mint, ‘Bharti signs definitive deal with Zain’, March
30, 2010)
Reliance
Wimax
Ltd.,
Tata
Communications
Ltd.
and
Vodafone
Essar
will
bid
for
the
BWA
spectrum
across
the
country.

The
remaining
players
will
bid
for
spectrum
in
selected
parts
of
the
country
only.

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.

Transport and Logistics




Clauses Norms
A
bidder
shall
not
be
eligible
for
bidding
if,
as
on
the
bid
date,
the
Bidder,
it's
Member
or
Associate
was,
either
by
itself
or
as
member
2.1.18 of
consortium
has
been
declared
by
the
Authority
as
the
Selected
Bidder
of
undertaking
three
or
more
projects
and
the
bidder
is
yet
to
achieve
financial
closure
A
bidder
shall
be
considered
as
declared
Selected
Bidder
for
the
2.1.18
(i)
projects
of
NHAI,
where
the
Letter
of
award
(LOA)
has
been
issued

The
Concessionaire
shall
engage
only
such
EPC
Contractors
for
execution
of
the
work
that
have
experience
of
at
least
one
single
2.1.18
(ii)
completed
highway
work
of
value
at
least
20%
of
the
Estimated
Project
Cost
in
the
preceding
5
years
Source: The Economic Times, NHAI modifies bidding norms for highway projects, March 22, 2010
©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Co-
operative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
15
Analyst: Neha Saraf
Jet Airways signs pact with Singaporean firm ST Aerospace This
is
the
first
time
that
a
transportation
tunnel
running
20
Engines meter
below
a
river
would
be
built
in
India.
Jet
Airways
and
its
subsidiary
Jetlite
have
signed
a
pact
with
the
Singaporean
Maintenance,
Repair
&
Overhaul
(MRO)
provider,
ST
Aerospace
Engines,
for
maintenance
support
to


Reliance Ventures, KPCB and Sherpalo Venture invest in Reverse
engines
of
their
67-strong
Boeing-737
fleet
over
the
next
10
Logistics
Reliance
Venture
Asset
Management,
an
Anil
Dhirubhai
years.
The
USD
750-million
contract
also
encompasses
the
Ambani
Group
(ADAG)
enterprise,
has
made
an
investment
in
commissioning
of
an
“Engine
Hospital
Shop”
at
Jet
Airways’
Reverse
Logistics
Co,
a
company
providing
reverse
supply
Hangar
facility
at
Mumbai.
The
engine
shop
would
enable
Jet
chain
solutions.
Kleiner
Perkins
Caufield
&
Byers
(KPCB)
and
and
JetLite
to
maintain
and
service
engines
of
their
Boeing
Sherpalo
are
co-investors
in
its
first
round
of
funding.
737
aircraft
fleet.
Reliance
Ventures’
investment
is
in
accordance
with
its
re
Jet’s
relationship
with
ST
Aerospace
began
in
1993
for branding
and
widening
focus
on
investing
in
disruptive
and
component
services
for
B-737
Classic
fleet
and
now
entails sustainable
business
models
with
a
sector
agnostic
service
support
for
airframe
MRO
and
engines. philosophy.
The
total
investment
done
by
all
the
three
investors
is
Afcons Infrastructure bags contract for India’s first underwater expected
to
be
around
USD
350-400
million.
train tunnel
Afcons
Infrastructure
Ltd.
(Afcons),
the
flagship
infrastructure
company
of
the
Shapoorji
Pallonji
group,
has


NHAI modifies bidding norms for National Highway Projects
National
Highway
Authority
of
India
(NHAI)
has
modified
bagged
a
project
worth
USD
206
million
from
Kolkata
Metro
some
norms
in
model
documents
i.e.
Request
for
Railway
to
build
India’s
first
underwater
train
tunnel.
Afcons
Qualification
and
Request
for
Proposal
(RFQ/RFP)
for
Build-
in
a
joint
venture
with
the
Russian
firm,
Transtonnelstroy
Operate-Transfer-(BOT)
Highway
projects
as
per
the
Limited,
is
slated
to
construct
a
3.89-km
stretch,
including
recommendations
of
the
B.K.Chaturvedi
report.
520
metres
of
the
underwater
section
and
three
underground
stations
at
Howrah
Maidan,
Howrah
station
and The
modifications
are
expected
to
expedite
implementation
Mahakaran,
within
a
period
of
four
years.
Afcons
has
also of
the
National
Highways
Development
Program
(NHDP)
and
tied
up
with
Atkins,
a
Dubai-based
company,
for
consultancy curb
the
practice
of
aggressive
bidding
by
non-serious
on
underwater
tunneling
and
to
monitor
and
study
the players.
impact
of
tunneling
on
the
buildings
and
structure
above
ground.
 16

Reference material for preparing this document was taken from the following sources:

Note: Consumer Markets and Retail:

1 USD=INR 45.50036
• EIU,
Danone
plans
health
drinks,
March
08,
2010
• Economic
Times,
Mary
Kay
to
invest
INR
90
cr
in
India
in
next
5
years,
March
11,
2010
Sources • Reuters,
Godrej
Consumer
Products
buys
Nigeria's
Tura,
March
13,
2010

Foreword: • Economic
Times,
ITC
bites
into
cigar
biz,
ties
up
with
La
Aurora,
March
31,
2010

• Business
Standard,
FE
Editorial:
IIP
gets
upgraded,
Mar
30,
2010

• Economic
Times,
RBI
must
aim
for
a
fine
balance,
April
12,
2010

• Moneycontrol.com,
Consolidated
FDI
policy
subsumes
178
press
notes,
Mar
31,
2010

Indian Economy:
• The
Economic
Times,
IMF
Draft
Raises
2010
World
Growth
Forecast:
Reports,
April
4,
2010

• The
Economic
Times,
Pranab
Sees
Increase
in
Investment
Growth
at
9%,
April
3,
2010

• The
Economic
Times,
Government
Mulls
Export
Sops
for
Select
Sectors,
April
3,
2010

• LiveMint.
The
Mint
Report,
March
31,
2010
• The
Economic
Times,
India
Offers
USD
600
Billion
Opportunity
in
Infrastructure,
April
6,
2010
Auto and Auto Component:
• DNA,
BMW
to
foray
in
used
car
business
in
India,
18
March
2010
• The
Wall
Street
Journal,
Ford
enters
India’s
small-car
segment
with
aggressive
pricing,
9
March
2010
• The
Time
of
India,
Daimler
plans
to
invest
USD967
million
in
India,
19
March
2010
• The
Pioneer,
Ashok
Leyland
to
shift
focus
on
North
India
market,
5
March
2010
• Business
Standard,
Maruti
Suzuki
Plans
to
double
its
petrol
engine
capacity,
24
March
2010
Banking and Financial Services:
• Live
Mint,
Credit
Suisse
gets
nod
for
branch
in
Mumbai,
March
29,
2010
• The
Financial
Express,
ICICI
Bank
gets
full
licence
for
Singapore
operations,
March
23,
2010
Hospitality:
• Hindustan
Times,
Leela
lines
up
INR
1,350-crore
growth
plan,
March
04,
2010
• The
Hindu
Business
Line,
Sarovar
hotels
to
add
18
properties,
March
27,
2010
• The
Hindu
Business
Line,
Ginger
Hotels
on
expansion
mode,
March
29,
2010

• The
Economic
Times,
Amari
enters
into
JV
for
India
operations,
March
10,
2010
IT/ITES:
• The
Economic
Times,
TCS
bags
multi-year
pension
project
deal
from
UK
govt,
March
3,
2010

• The
Economic
Times,
Wipro
bags
7-years
IT
contract
from
US-based
insurance
company,
March
4,
2010

• The
Financial
Express,
Wipro
bags
finmin
project
for
financial
intelligence
network,
March
9,
2010

• Business
Standard
,
Aditya
Birla
Minacs
buys
UK-based
BPO,
March
10,
2010
Media:
• Economic
Times,
Media
entertainment
to
touch
USD
24
billion
mark
by
2014,
March
18,
2010


• IndianTelevision.com,
Sahara,
Rendezvous
win
IPL
teams
for
703
million,
March
22,
2010
• Business
Standard,
Independent
sells
7.5%
in
Jagran
for
INR
255
crore,
March
10,
2010
• Business
Line,
NDS
plans
to
invest
USD
150
million
more
in
Bangalore
R&D
centre,
March
23,
2010

• IndianTelevision.com,
Scripps
plans
production
hub
in
India;
to
complete
NDTV
JV
by
June,
March
22,
2010

• The
Economic
Times,
Muthoot
to
set
up
home
loan
subsidiary;
drops
banking
foray,
March
14,
2010
• The
Hindu
Business
Line,
Religare
to
enter
Japanese
market,
March
16,
2010
• Reuters
India,
IDBI
Bank
unit
gets
approval
to
start
mutual
fund,
March
25,
2010

©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
of
independent
member
firms
affiliated
with
KPMG
International
Cooperative
(“KPMG
International”),
a
Swiss
entity.
All
rights
reserved.
 17

Oil and Gas: Real Estate and SEZ’s:

• The
Economic
Times,
India
to
add
7450
km
to
gas
pipeline
network
in
3
years,
March
22,
2010
• The
Economic
Times,
ONGC
loses
Uganda
oil
property
to
Chinese
firm,
March
25,
2010
• The
Economic
Times,
Lyondell
files
restructure
plan,
rejects
Reliance
bid,
March
8,
2010
• Financial
Times,
Lyondell
rejects
Reliance’s
USD
14.5
billion
bid,
March
8,
2010
• The
Economic
Times,
ONGC,
partners
bag
17
oil
&
gas
blocks
under
NELP
VIII,
March
19,
2010
• Indian
Express,
Mega
housing
project
for
Central
forces,
March
24,
2010
• The
Hindu
BusinessLine,
Ambuja
Realty
to
invest
INR
900
cr
in
commercial
office
projects,
March
11,
2010


• Financial
Chronicle,
DLF
sells
1,200
housing
units
at
Panchkula,
February
25,
2010
• The
Hindu
BusinessLine,
Shriram
Properties
sets
sights
on
hospitality
sector,
April
02,
2010

Pharma: Telecom:

• Livemint,
Ranbaxy
signs
pact
with
US
firm
for
developing
biosimilars,
March
29,
2010
• The
Economic
times,
Aspen
sells
50
pc
in
oncology
JVS
for
$117
million,
March
18,
2010
Business
Standard,
Elder
Pharma
increases
stake
in
Bulgarian
arm,
March
19,
2010
• Company
Press
Release,
Global
Pharmaceutical
Leader
Aurobindo
Presents
AuroSource,
its
new
division
for
Custom
Research
and
Manufacturing
(CRAMS),
March
4,
2010
• Livemint,
Indian
firms
overtake
US
in
FDA
drug
filings,
March
18,
2010
• The
Economic
Times,
US
pvt
equity
firm
buys
over
30%
in
Nectar
Lifesciences,
March
3,
2010
Indiainfoline,
Nectar
Lifescience
gallops
as
US
pvt
equity
firm
buys
stake,
March
3,
2010
• The
Hindu
Business
Line,
‘Govt
puts
off
mobile
number
portability
to
June
30’,
March
30,
2010
• Mint,
‘Bharti
signs
definitive
deal
with
Zain’,
March
30,
2010
• Mint,
‘DoT
releases
bidders’
list
for
auction
of
3G,
BWA
spectrum’,
March
30,
2010
• The
Economic
Times,
‘Tata-Quippo
looks
to
rope
in
partner;
to
offload
10%
stake
for
INR
1,500
cr’,
March
23,
2010
• Mint,
‘RCom
touches
100
mn
subscriber
base’,
March
15,
2010
• The
Hindu
Business
Line,
‘STel
ordered
to
shut
down
mobile
services
in
3
circles’,
March
05,
2010

Transport and Logistics:

Power:
• Business
Standard,
Jet
awards
Singapore
firm
$750-mn
contract,
March
31,
2010
• The
Hindu
BusinessLine,
GMDC
To
Invest
INR
484
Crore
In
Wind
Power,
March
30,
2010
• The
Economic
Times,
Afcons
to
build
India’s
first
underwater
train
tunnel,
Bags
INR
938-Cr
• The
Economic
Times,
Essar
Power
to
raise
INR
1,100
cr
from
IDFC
for
Hazira
project,
April
06, Project
from
Kolkata
Metro
Railway,
March
22,
2010
2010
• Business
Standard,
Reliance
Venture
Asset
Mgmt
closes
Series-A
funding
in
Reverse
• The
Hindu
BusinessLine,
Reliance
Infra
Commissions
600-mw
Plant
In
Haryana,
April
05, Logistics,
March
25,
2010
2010

• The
Economic
Times,
NHAI
modifies
bidding
norms
for
highway
projects,
March
22,
2010
• Financial
Express,
Essar
buys
Aries
coal
mines
in
Indonesia,
March
26,
2010.
• The
Economic
Times,
Birla
Power
to
invest
INR
5,000
cr
in
thermal
&
solar
power
projects,
March
18,
2010

©
2010
KPMG,
an
Indian
Partnership
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a
member
firm
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the
KPMG
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independent
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KPMG
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KPMG in India KPMG Contacts

Mumbai Chennai Vikram Utamsingh Yezdi Nagporewalla
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N. M. Joshi Marg Nungambakkam e-Mail: vutamsingh@kpmg.com e-Mail: ynagporewalla@kpmg.com
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Tel: +91 22 3989 6000 Tel: +91 44 3914 5000
Fax: +91 22 3983 6000 Fax: +91 44 3914 5999 Ramesh Srinivas
Head - Consumer Markets Research
Inputs
by
KPMG’s
India

Delhi Hyderabad e-Mail: ramesh@kpmg.com Research
Center
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Tel: +91 124 307 4000 Hyderabad - 500 034 Head - Financial Services
Fax: +91 124 254 9101 Tel: +91 40 3046 5000 e-Mail: adiwanji@kpmg.com
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©
2010
KPMG,
an
Indian
Partnership
and
a
member
firm
of
the
KPMG
network
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