THE Genpact IPO might have opened below expectations, but it has made its top management millionaires overnight. Following the $494.11-million listing at the New York Stock Exchange on Thursday, top executives at the country's largest BPO have a net worth of nearly $50 million.CEO Pramod Bhasin's 1.93 million shares make him richer by about $32.39 million, going by the share price of $16.75 at the time of writing. The IPO has lifted the net worth of Genpact chief financial officer Vivek N Gour, who holds 288,920 shares, to $4.8 million. Executive vice-president NV Tyagarajan's 504,959 shares could fetch him $8.4 million if he decides to encash his stake today.
Bangalore: Japanese auto giant Toyota is looking to make India its global manufacturing hub for small cars. It is also planning to make India an export base for midsize cars. Sources told TOI that the company is likely to announce plans of its much awaited small car within a couple of months. "With plans now including manufacturing for world markets, larger investments are expected to be made," sources said. Toyota is the fourth car manufacturer that's eyeing India as a global export hub for small cars --after Hyundai, Maruti and Nissan. "Brazil, Argentina, Europe, Malaysia and South Africa are all emerging small car markets, where exports from India would head to," said V G Ramakrishnan, director of automotive practices at consulting firm Frost & Sullivan.
Chennai: Water treatment plant major Degremont India, a 51:49 joint venture between the French major Degremont and the Delhi-based Anand Group, is looking at revenues of Euro 100 million by 2010, from the present Euro 30 million. The company is also eyeing the huge desalination business. Speaking to TOI, Thierry Mallet, CEO of Degremont, said with the increased focus on potable water in big cities, the need for integrated water plants was becoming essential. "We are the largest player in the world. The Tamil Nadu chief minister has just inaugurated a 530 million litres per day (MLD) water treatment plant, which is the second highest capacity plant in the country," he said.
New Delhi: Telecom operators in the private sector are delighted. On the face of it, BSNL is on a ventilator and is rapidly falling behind in the race to acquire more susbcribers. To them, it now seems only a matter of time before the formidable public sector player fades into the ranks of an also-ran. Over the last four months (March-June 2007) for instance, telecom operators in the country, grew on average, by 12%. All the players put together added 14.56 million new subscribers during the period. Only BSNL's growth has been near stagnant.
Mumbai: In a bid to encourage regional airlines and provide air links to small cities and towns, nearly 25 greenfield or unutilised airport projects have been identified by various states, which will be up for bidding by the private sector. Planned in tier-II or tier-III cities, the airports would be in addition to the Ministry of Civil Aviation’s (MoCA’s) ambitious modernisation programme for 35 non-metro airports.
The Growth of the Real Estate in India and How you can profit from it. Indian realty is growing at 30%, particularly in Tier II and Tier III cities. The $15 b realty market is expected to reach $ 90 b within the next 8 years. If you have proper info, you can profit from this bullish market. The rise of the middle class ( 500 million ), Non Resident Indians investing in Indian realty, Foreign Direct Investment entering the market, expansion of MNCs and Indian multinationals, proliferation of eduational instistutions, growth of IT, BPO, food processing & health care - all these are the factors responsible for the growth of Indian realty.
Anil Dhirubhai Ambani Group company Reliance Energy Ltd [Get Quote] on Thursday announced it has bagged three road projects valued at Rs 2,320 crore (Rs 23.2 billion) from National Highways Authority of India. The projects include four-laning work of high-traffic density corridor from Salem to Ulundurpet, Trichy to Dindigul and Trichy to Karur in Tamil Nadu. The projects are scheduled for completion by 2010, REL said in a statement.
Tiruchirappalli, July 18: The Tamil Nadu government will soon come out with a policy on micro, small and medium enterprises, M Raman, state Commissioner for Industries and Commerce, has said. The Cabinet was discussing the draft policy and the announcement is likely to come out in four to six weeks, he told reporters here.
NEW DELHI: Swedish telecom equipment supplier Ericsson on Wednesday announced that it had bagged a Rs. 8,000-crore ($2 billion) order from India’s largest mobile operator Bharti Airtel. “We are honoured that Bharti has chosen to partner with us in this grand venture that underpins our strategy of providing communication for all through sustainable and innovative solution,” Ericsson India Managing Director Mats Granryd told newsmen here following formal signing of the memorandum of understanding.
New Delhi: Private equity (PE) is pouring into India. PE investment worth $5.7 billion has already come in the first half of calendar 2007, which amounts to three-fourth of total inflows last year. In 2006, the country witnessed PE investment of $7.5 billion. If that's not enough, PE flows jumped nearly 70% in the second quarter April-June this year to about $3.2 billion, across 76 companies, as against 67 deals totalling $1.9 billion in corresponding April-June period in 2006. In the first quarter this year (January-March), PE investments were pegged at $2.5 billion.
Larsen & Toubro has announced a 2.7 million square foot integrated township in Chennai. L&T is building its first integrated township in partnership with Arun Excello Infrastructure, reports CNBC-TV18. This will be its first development of an integrated township and IT SEZ in Chennai. Although L&T has had a presence in its property market, it's now joining the city's SEZ boom.
CHENNAI: The Tamil Nadu Government will encourage new industries to come up in Tier-2 cities and in south Tamil Nadu to ensure uniform development across the State. Chief Minister M. Karunanidhi, in an interaction with The Hindu on Thursday, said the Government had set apart sufficient funds for developing infrastructure in Tier-2 cities as well as the industrially-backward south Tamil Nadu. The Nanguneri industrial park was one of the many places which could be looked at by industrialists, he said. .....
MADURAI: A bank account for every household in the district — this is the latest exercise underway in Madurai and eight other districts as part of ‘total financial inclusion,’ a Reserve Bank of India project. This exercise, being co-ordinated by Canara Bank, the lead bank in this district, will extend financial sector services to every household. “Having a bank account will make people a part of the financial sector. They can easily avail the benefits of Government’s welfare schemes where assistance is provided through cheques,” according to Lead District Manager KN. Subramanian.
Management Consultant from India, with International Experience. Would you like to leverage the opportunities and potential India offers? Consulting for - Companies to set up operations in India - Strategic Investors to invest in India - Operational Analysis & Improvements
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