Opportunities in Indian Infrastructure Galore

All the infrastructure companies are upbeat on the immense opportunities available in the segment. Reliance Infrastructure, for instance, plans to bid for more road projects. As highlighted in our pre-conference note, private sector involvement in infrastructure development has expanded to ‘non-traditional’ areas such as metro, airports and even power transmission. Lanco plans to ramp up its generation capacity to benefit from the prevailing high merchant power tariffs. (more…)

Coal Fuel Security for Power Plants

The Ministry of Coal has awarded coal linkages for 22 GW of power capacities with a clear focus on projects likely to be commissioned in the XIth plan period. The allocations ensure fuel security for power projects, while increasing the burden of responsibility for Coal India Ltd (CIL) to meet increasing demands from the power sector.

Lanco Infratech has been awarded linkage for 660 MW (more…)

Cox & Kings forays into luxury train segment

Royale Indian Rail Tours (RIRTL) operated — Maharajas Express [Super luxury Train] began its journey on March 6, as it left Mumbai for New Delhi.

RIRTL is a joint venture (JV) between Cox and Kings (India) and Railways Catering and Tourism Corporation (IRCTC). The super luxury train has a total of 23 coaches with a passenger capacity of 84. (more…)

Crude Oil – Short Term Weakness – Kotak

Kotak sec expects weakness in crude oil. There will be likely subdued demand on account of seasonality in 2QCY10, low OPEC compliance and high inventories. However, we do not rule out continued high levels of speculative trading.

In the medium term, given large spare OPEC capacity of ~6 mn b/d over CY2010-11E, significant oil discoveries announced in new areas, increase in OPEC supply, (more…)

Reliance’s Lyondell Basell bid rejected – Implications

Despite Lyondell Basell being a strategic fit, the bid not going through is a better outcome, as it saves Reliance Industries Limited from getting drawn into a bidding war and thus potentially over-paying for the assets. Also, LB would have added more deep cyclical earnings to RIL at a time when RIL’s gas business is improving the company’s earnings profile by adding a more steady cash flow. If RIL has to add cyclicality in order to grow, we believe E&P makes more sense, either for supply security of its 1.24mn b/d refining capacity or for entry into (more…)

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