Angel Broking News
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Air India Ltd., which has received about $1.7 billion in the past four years in government bailouts, is now finding support from state-owned fuel suppliers in its fight for market share.
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Cairn India Ltd., which pumps crude oil from the nation’s biggest deposit on land, started its first commercial sales of natural gas from the area and activated a new oil field to revive lower-than-expected output.
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Lupin Ltd., the drugmaker founded by Indian billionaire Desh Bandhu Gupta, is seeking to acquire brands in the U.S. to expand its most profitable business, and may spend as much as $1 billion on a deal.
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Steel Authority of India Ltd., India’s biggest state-run maker of the alloy, received demand for more shares than offered by the government, which set a price last seen more than four years ago.
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Finance Minister P. Chidambaram’s proposal to increase levies for Indian companies with pretax income of more than $1.8 million may reduce earnings by 2 percent, said analysts including Deven Choksey, managing director of K.R. Choksey Shares & Securities Pvt.
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Reliance Industries Ltd. and Essar Oil Ltd., operators of India’s two biggest refineries, face at least a two-year wait to profitably retail diesel, as the government prolongs the process of completely freeing prices.
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India’s decision allowing airlines to sell stakes of as much as 49 percent to overseas carriers may be most beneficial to operators least in need of investment.
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Siddharth Bhamre, head of equity derivatives at Angel Broking Ltd., comments by phone from Mumbai on the outlook for Indian equities.
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Indian airlines including SpiceJet Ltd. and IndiGo may be allowed to store imported jet fuel at state-owned refiners’ facilities as the government works to ease rules to help carriers pare their biggest cost.
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Vinay Kumar’s locomotive thuds into coal cars at a New Delhi power plant, coupling with a deep clunk to end a journey whose last two kilometers took over six hours, a pace slower than walking.
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