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Sep 02, 2011 in FOCUS "If You Want to Make Peace, You Don't Talk to Your Friends

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Sep 02, 2011 in FOCUS Sep 02, 2011 IN FOCUS "If you want to make peace, you don't talk to your friends. You talk to your enemies." Weekly Indicators Indicators Current Last Week – Dayan, Moshe. Sensex 16,821 15,849 India Apr-Jun GDP growth slides to 7.7% vs 8.8% yr ago Nifty 5,040 4,748 India's gross domestic product growth slowed down to 7.7% during Apr-Jun 2011, Food Inflation 10.05% 9.80% compared with 8.8% a year ago, the Central Statistics Office said today. The growth number of Apr-Jun 2010-11 was scaled down to 8.8% from 9.3% factoring in the new Exchange Rates base of the Index of Industrial Production. Since April, the government has been Currency Current Last Week releasing the IIP series with a new base year of 2004-05. The new series has up to US$1 Rs.45.8965 Rs.46.0528 600 items, 200 more than the earlier one. In the quarter ended March this year, GDP € 1 Rs. 65.4075 Rs. 66.4788 growth was 7.8%. GDP in the reported quarter was primarily driven by robust growth JP¥ 100 Rs. 59.76 Rs. 59.73 in the services and farm sectors. Service sector output was strong at 10.0%, £ 1 Rs. 74.3133 Rs. 75.1996 compared with the year ago high base of 10.4%. Agricultural sector growth was up at 3.9%, as against 2.4% a year ago. However, industrial growth was dismal at 5.1%, Global Economic and Corporate News compared with 9.1% a year ago. Manufacturing grew at 7.2%, compared with 10.6% • Clean Energy Fuels Gets $150 Million last year while the construction sector growth was just 1.2% vs 7.7% year ago. Investments Clean Energy Fuels Corp. has picked up $150 million India’s Forex reserves rise $1.6 bn in new investments, as a trio of firms including India's foreign exchange reserves increased $1.6 bn to $318 bn during the week Singapore's sovereign-wealth fund seek to participate in the growing natural-gas-vehicle ended August 19, largely on account of valuation changes. Foreign currency assets, market. which predominantly include dollars, yen and euro, among others, increased by $1.6 • Hyundai Motor workers approve 2011 wage bn. Other components like special drawing rights (SDR) - currency with the terms International Monetary Fund - rose $19 mn while reserves with IMF rose $12 mn. The South Korean auto maker Hyundai Motor Co. said it value of gold in reserves, however, did not rise during the week. had sealed the wage deal for the year without going on strike for three straight years as its unionized Auto giants go on reverse gear in August workers voted to accept pay terms offered by the Hit by rising fuel costs and higher interest rates, car sales continued to slide for the 3rd company. consecutive month, with no clear sign of recovery in the Sept-October festive season. • Airlines ground 1,600 flights ahead of Irene The top 3 carmakers Maruti Suzuki, Hyundai Motor and Tata Motors reported decline in U.S. airlines began cancelling weekend flights, nearly nd 1,600 so far, to avoid any lengthy delays due to sales for 2 month in a row during August while all other carmakers as well as two- Hurricane Irene. wheeler makers posted sales gains. Maruti Suzuki’s domestic sales fell 17 per cent to • FDA approves Pfizer lung cancer drug Xalkori 77,086 cars in August 2011 against 92,674 in year ago period. “The disruption in The U.S. Food and Drug Administration approved production at Manesar in end August adversely impacted sales numbers during the Pfizer Inc.'s drug Xalkori on a shortened schedule, month,” the company said in a statement. It lost about 2,400 units (Rs 120 crore) due handing the pharmaceutical giant a new win as it races to replace expiring patents. The drug maker to labour troubles in last week of August. Hyundai’s local sales were lower by seven called Xalkori capsules the first-ever approved per cent at 26,677 cars (28,601 units in August 2010). Tata Motors sold 34 per cent therapy for anaplastic lymphoma kinase in patients less, 16,829 cars, against 25,212 in year-ago period. Nonetheless, Maruti and with locally advanced or metastatic nonsmall-cell Hyundai’s exports soared registering 14,356 units (19 per cent) and 24,353 units (11 lung cancer. per cent) respectively against year-ago period. Honda Siel Cars sold 25 per cent more • Dynamic Offshore to offer up to $400 mln in IPO at 6,907 units in August 2011 against 5,518 in August 2010. It’s breadwinner City Dynamic Offshore Resources Inc. filed plans to offer sedan regained dominance in mid-sized segment outselling all other cars with 5,819 up to $400 million of common stock in an initial units (4,251 units in August 2010). Mahindra & Mahindra sold 14 per cent more cars public offering, as the independent exploration and at 15,664 units against 13,796 in year-ago period buoyed by Verito that notched up production company aims to raise funds to repay debt and for general corporate purposes. 1,710 units. Volkswagen continued momentum with sales rising 72 per cent at 6,091 • Qatar Holding buys 2% of Energias de Portugal units (3,531 in August 2010) while Toyota Kirloskar Motor’s sales soared 84 per cent Energias de Portugal SA (EDP.LB), which is set to be to 11,693 units (6,361), selling 2,710 and 2,824 units of Etios and Etios Liva, fully privatized by the government, said Qatar respectively, last month. Hero MotoCorp, which officially unveiled its new brand Holding LLC has bought a 2% stake in the identity last month, sold 503,654 units last month against 424,617 in year-ago period. Portuguese energy company. At a current share price of EUR2.16, the stake cost Qatar EUR159.4 million. Spain GDP growth slows in Q2, IMF approves $450 mn funding for Iceland • Shikoku Electric restarts thermal power Spain's economic growth slowed in the second quarter as the euro zone's fourth- generator largest economy suffered the effects of softening export growth and a tumble in Shikoku Electric Power Co. (9507.TO) said it has domestic demand, and economists warned of further weakness ahead. Data released restarted operation of the No. 1 thermal power generation unit at its Sakaide plant in Kagawa by Spain's statistics institute INE showed that Spain's gross domestic product rose by Prefecture, which had been suspended since Aug. 18 0.2% on the quarter, and by 0.7% on the year. The INE also revised up its first- due to a malfunction, Kyodo news reported. quarter growth estimates by a tenth of a percentage point, to 0.4% on the quarter • Cathay Pacific to launch premium economy and 0.9% on the year. The second-quarter numbers were in line with a preliminary cabins reading from the INE this month and indicate that Spain's economic growth needs to Cathay Pacific Airways Ltd. (0293.HK) Chief Executive John Slosar said the Hong Kong-based accelerate again in the second half of the year to reach the government's target of carrier plans to launch premium economy cabins on 1.3% expansion in 2011. Meanwhile, The International Monetary Fund said it had its long-haul flights beginning in the second quarter approved a final round of $450 mn in funding to Iceland as part of a program first put of next year. in place during the financial crisis. The fund said in a news release that its board had completed its sixth and final review of Iceland's economic performance. Completion of Nishita Shah Parsekar the review allowed the IMF to provide the funding, which brings the total provided to [email protected] Iceland through the arrangement to $2.25 bn. Please refer to important disclosures at the end of the report For Private Circulation Only. Sushil Financial Services Private Limited Member : BSEL, SEBI Regn.No. INB/F010982338 | NSEIL, SEBI Regn.No.INB/F230607435. Office : 12, Homji Street, Fort, Mumbai 400 001. Phone: +91 22 40936000 Fax: +91 22 22665758 Email : [email protected] Info-Spectrum Bridging the Information Gap in Corporate Landscape INDEX 1. India’s Data Watch 03-07 2. Economy 08-11 3. Infrastructure 12-18 4. Sectors 19-41 A. IT & ITeS 19-20 B. Pharma & Healthcare 21-22 C. Telecom 23 D. Banking & Financial Services 24-29 E. Steel, Metals & Minerals 30-32 F. Auto & Auto Ancillaries 33-37 G. Miscellaneous 38-41 5. IPO Watch 42 6. Mergers & Accquistion 43 7. Ratings 44-46 8. Global Economy & Business 47-50 A. Global Economy 47-48 B. Global Business 49-50 Weekly Newsletter 2 Info-Spectrum Bridging the Information Gap in Corporate Landscape INDIA’S DATA WATCH India Apr-Jun GDP growth slides to 7.7% vs 8.8% year ago India's gross domestic product growth slowed down to 7.7% during Apr-Jun, the first quarter of the current financial year, compared with 8.8% a year ago, the Central Statistics Office said. The growth number of Apr- Jun 2010-11 was scaled down to 8.8% from 9.3% factoring in the new base of the Index of Industrial Production. Since April, the government has been releasing the IIP series with a new base year of 2004-05. The new series has up to 600 items, 200 more than the earlier one.
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