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In this section useful news to board is published mentioning sources
The World Bank is exploring whether to invest in an USD 11 billion debt fund the Indian government will roll out by next year as part of a massive push to its infrastructure sector, the bank's India head said.
India was making progress in tackling procedural hassles that have held back faster infrastructure growth but a major roadblock to more private investment was a shortage of bankable projects.
The World Bank was likely to lend around USD 15 billion to USD 20 billion to India's infrastructure sector in the next five years. Typically the bank's lending to the sector ranges between 40-60% of the total annual lending.
The government has announced theUSD 11 billion debt fund as a part of a series of recent measures to overhaul India's creaking infrastructure, which has long been seen as hobbling faster growth in Asia's third-largest economy. A similar fund is also under consideration for the power sector.
Zagha said in an interview as part of the Reuters India Investment Summit, when asked whether the World Bank would contribute to the fund.
Pending legislation to give farmers a better deal in land acquisition would be a big step towards balancing development with social justice and help ease the implementation of infrastructure projects, he said.
The Indian government plans to double spending on infrastructure to USD 1 trillion in its next fiveyear plan, which runs from 2012-17.
"That's a statement of intent," said Zagha, referring to the spending target. "There's a sense of urgency in the government which I didn't see before. That's very encouraging."
There was at least USD 50 billion to USD 60 billion untapped investor potential in water and sewage treatment projects alone, he said.
"I don't think financing is an issue." he said. "The greatest challenge is bankable projects. Investors will come, financing will be found if you find ways of making projects which are commercially attractive and bankable."
The fiasco of New Delhi's preparations to host the Commonwealth Games has proved an embarrassment to the government and raised worries in some quarters, including the rating agency Moody's Analytics, that it could deter foreign investment.
"I don't it matters," Zagha said, when asked whether the Games could hit investor sentiment. "But it does show the organisational issues that India has to deal with."
source http://www.moneycontrol.com/
Wind turbine maker Suzlon Energy is in talks to buy the remaining 9% stake in German unit REpower Systems AG, its chief financial officer said on Monday.
ReplyDelete"We are working towards it," Robin Banerjee said at the Reuters India Investment Summit in Mumbai, adding that Suzlon had no plans to sell a stake in REpower.
Media had earlier said that Suzlon might sell up to 25% in REpower for USD 500 million.
Suzlon Energy, which holds 91% of REpower, is the world's third-largest wind turbine maker behind Denmark's Vestas and Spain's Gamesa.
Banerjee said Suzlon would like to grow its revenue from China by 40 to 50%, driven by strong demand for renewable energy
Kolkata-based Microsec Financial Services listed at Rs 130 a share on the bourses on Tuesday. It had set issue price at Rs 118 a share, at the higher end of price band of Rs 113-118 a share. The company raised Rs 147.5 crore via offering of 1.25 crore equity shares.
ReplyDeleteCommenting on the road ahead for the company, chairman and managing director BL Mittal, told CNBC-TV18's Udayan Mukherjee and Sonia Shenoy that they plan to grow at a compound annual growth rate (CAGR) of 50% over the next five years.
Excerpts from Bazaar on CNBC-TV18 Watch the full show »
RELATED NEWSMicrosec Financial Services lists at Rs 130
For financial year 2011, he sees he company clocking a profit of Rs 40 crore with revenues of Rs 90 crore. “PAT of FY12 is seen at Rs 65 crore and the revenue target for the year stands at Rs 150 crore.”
Below is a verbatim transcript of the interview. Also watch the video.
Q: You did Rs 57 crore of sales last year, what can you do in the current year you think—fiscal year 2011 in terms of revenues?
A: We would like to state that the futuristic numbers are estimates only. Our earnings are capital market related—maybe volatile. We have our own three point strategy. We will plan to grow by CAGR of at least 50% in the next five years. To achieve one of the best operating margin and one of the best return on equity and to follow the best corporate governance in this management we target revenues could be Rs 150 crore and PAT of Rs 65 crore for the next year ended March 31, 2012. For the year ended March 31, 2011 we target revenue of Rs 90 crore and PAT of about Rs 40 crore.
Q: What about your EBITDA margins currently at about 43% - how much can you bump that up by or do you think be in that range itself.
A: Our PAT margin is 43% and PBT margin is around 61%. We will continue to maintain that.
Q: This Rs 90 crore of revenues that you are talking about for the current year fiscal year 2011 can you break it up between how much contribution will come in from financing—how much from broking etc.
A: Roughly, around 24% we are targeting from investment banking, 38% from brokerage, 27% from financing and 11% from wealth management and distribution.
Q: For the financing business how much would you be investing out of the money that has been raised.
A: Rs 113 crore.
Q: You are saying Rs 40 crore of PAT in fiscal year 2011 and Rs 65 crore of PAT in fiscal year 2012-Is that right.
A: Yes. It is right.
WATCH OUT THE FOLLOWING VIDEO LINK ON SUZLON
ReplyDeletehttp://www.reuters.com/news/video?videoChannel=2602&videoId=163755691
http://edition.cnn.com/video/#/video/business/2010/09/15/intv.suzulon.energy.india.china.cnn?iref=allsearch