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Essar Steel's Hazira expansion by year end
Essar Steel’s $2.5 billion (about Rs 12,500 crore) capacity expansion project at its Hazira plant in Gujarat will be completed by the end of this calendar year.

PE, M&A market set for upswing, say players
Mergers and acquisitions (M&As) and private equity (PE) investments in India dipped both in value and volume terms in 2009 due to the global slowdown. This, along with the sharp run-up in the equities in the second half of the year and too much liquidity globally, has made deal closure an arduous task for PE players. Despite this, the players are hopeful that the investment market will improve in 2010. The value of deals (both PE and M&As) announced in calendar year 2009 (January to December 13, 2009) was $21.20 billion as against $41.54 billion, a decline of nearly 49 per cent. During 2007, the value was $70.14 billion, according to data compiled by Grant Thornton.

News of the day

Harley-Davidson to launch today, sales to start 2010
The iconic US cult bike maker Harley Davidson is set to enter Indian markets tomorrow, two years after it was first granted permission to start operations in the country. Sales will, however, begin only by 2010, the company said in a statement.
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Markets at a glance

Gains in global markets and foreign buying helped Sensex move past 17,000 mark after 15 months. In a truncated week, BSE Sensex rose 440 points or 2.6 per cent to 17,135 and Nifty rose 125 points or 2.5 per cent to 5,083. Broader indices performed better than BSE Midcap and BSE Smallcap indices, each delivering 1.2 per cent and 1.8 per cent, respectively. The market was buoyed by IMF"s statement that India’s GDP would grow at 6.4 per cent for CY09 and that the world economy would contract less than expected. - StatsGuru- 05-October-09 - Continue stimulus packages: IMF tells most Asian nations - Farm output shortfall to hit GDP, says Ficci - India elected second vice-chair of G-24 countries - Don"t mistake revival as end of eco crisis: IMF to countries - IMF retains India"s growth forecast at 5.4% Markets this week After a subdued first quarter, optimism about stronger September quarter results would help markets reach higher levels, say analysts. The markets would be keenly awaiting the announcement of Infosys results on October 9. However, markets are expected to take a cue from global stocks also. A reasonably good debut of Oil India on the bourses may give a filip to government"s divestment plans. FII pumped around Rs 20,000 crore into the markets in the month of September and continuing the trend, invested a further Rs 2,600 crore in the last two days of the month. Further investments will help keep indices steady at current levels. Stock to watch INFOSYS TECHNOLOGY Last week"s close (Rs) 2,331.25 Prev. week"s close (Rs) 2,242.90 Week"s high (Rs) 2,347.45 Week"s low (Rs) 2,262.00 Last week"s ave. daily turnover (Rs cr) 313.82 Prev. week"s ave. daily turnover (Rs cr) 686.49 Number of up/down move 3/0 The results season will kick-off with IT major Infosys scheduled to announce its second quarter results on October 9. A pick-up in demand from the BFSI segment and lower project cancellations would see the company outperform its own flat guidance, say analysts. Infosys is expected to report sequential revenue growth of 3-3.5 per cent versus flat revenue guidance and a sequential decline of 1.5-2 per cent in net profit. The operating profit margins could see a drop of around 100 basis points q-o-q to 33 per cent due to rupee appreciation and higher sales and marketing costs. Any positive surprises could cheer the market. The stock is trading at 22 times its trailing 12-month EPS of Rs 105.


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