Anshu Jain
(Co-CEO, Deutsche Bank) has said :-
> Stay away from capital controls. Because India benefits a lot from portfolio flows & in the face of restrictions, investors shy away..
> The sharp rupee devaluation may turn out to be a blessing in disguise, as it would increase India's competitiveness (like South Korea).
> India has been unable to tackle the supply bottlenecks in its manufacturing sector.
> Rupee downfall usually helps the manufacturing industry (like in Germany), because by exporting goods, manufacturers will get dollars which in return will give more rupees. But in India, this has not happened.
> if India deploys its domestic savings in building bridges, ports, roads, hospital, schools and other infrastructure... It can realise a strong positive economic momentum which will last for decades.
> Manufacturing sector's contribution to India's GDP is decreasing. Now it is 15.2%.
> Growth rate of manufacturing sector also fell to 1%.
Upcoming Financial Reforms
Raghunath Rajan's committee had previously suggested :-
> opening of some more small private banks
> disinvestment in small, under-performing state-run banks
> freeing of branch licensing rules
> greater participation of foreigners in Indian financial markets
Nissin-Capital Foods in buyout talks
> The Japanese foods giant which claims to be the inventor of instant noodles is valued at $3.8 billion. And operates in India through brands like Top Ramen & Cup noodles.
> Capital Foods is the maker of Ching's secret noodles and other products. It is 40% owned by Kishore Biyani's Future Ventures. The company is currently valued at Rs.500-600 crores.
NSEL Officials knew about the downfall
> Anjani Sinha, ex-CEO of National Spot Exchange Limited has said that top officials of NSEL knew about the defaults, vanishing stocks (including Satyam's fall due to Raju) but didn't reveal in fear that a single default may have brought down the entire house of cards.
Investor Forums go virtual to rake in the Moolah
> Many investment forums are now thriving in virtual platforms such as WhatsApp, BBM for participants to share information & investment as well as trading ideas & discuss them.
The Indian Govt is encouraging
> Energy & oil firms to fund foreign acquisitions entirely with foreign debt, instead of using their own cash reserves or taking domestic loans.
> ONGC & IOCL are considering around raising $5 billion loans in dollars for their latest acquisitions in Mozambique.
CIL to put 7 coal blocks under hammer
> At an estimated Rs.3000 Crores, it will be the largest private investment in the PSU.
High end tractors from companies like Ferrari are selling well above expectations in India. They consume half the fuel, give triple the efficiency but cost double than usual tractors.
Olympus to quit selling low end cameras in India, to focus on premium cameras...
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