Weekly Wrap-up Shows Investor Encouraging Activity in India

Online, May 24, 2010 (Newswire.com) - [For Immediate Release]
Reliance Infrastructure Ltd, an Anil Dhirubbai Ambani Group, has won a major road project, the Hosur-Krishnagiri in Tamil Nadu, worth Rs 925 crore, from the National Highways Authority of India. RInfra won the project from a list of other 15 companies that had bid for it based on the highest premium amount of Rs 66.90 crore. Other bidders were GVK Infra projects, IVRCL Infrastructure and projects, L&T, GMR and Gammon. The project is under development on the Design, Build, Finance, Operate and Transfer basis with a concession period of 24 years, the construction period included.
Bharti Retail plans to build new stores in the South of India as part of its plans to become a national retailer according to sources. The company had already signed three-four properties in the southern states and was looking at booking spaces for about 50 stores by end year. The retailer is also believed to be scouting for properties in the western and central India and is currently talking to property investors in the regions. It intends to increase its stores to about 140 across the country. On Wednesday last week, Reliance Retail announced its growth plans with focus shifted to hypermarkets and world class infrastructure.
The Indian arm of the Swiss pharmaceutical major Novartis AG is set to become the newest entrant in the ayurvedic business. Novartis, already a major player in the Indian OTC Segment with household brands like Calcium Sandoz, is exploring the potential of ayurveda to take on the wide array of ayurvedic pain relievers, energy boosters, and skincare products. The initial focus of the company is skin care, fungal infection and lifestyle category but Novartis may initiate clinical trials on ayurvedic medicines in these areas soon. The company's Indian OTC business grew 30.1%, from Rs 17.9 crore to Rs 23.3 crore on a year-on-year basis ending March.
The Indian domestic market for engineering R&D services is expected to grow robustly given the value proposition and infrastructural investments by the government. Almost 10-15% of India's total ER&D services market could come from its domestic market by 2020 with the expectations that the country may net revenues worth $40 to $45 billion. Sectors such as telecom, semiconductors and automotive have been the biggest revenue earners for the industry with an estimated 40% contribution to the revenue base. This growth has been manifest in the increase in the number of offshore development centers. More information is available on http://www.investinindia.com
Jindal Steel and Power Ltd (JSPL) have acquired Oman's Shaheed Iron for a whopping $464 million. The acquisition was completed on Thursday last week for the above sum which included the assumption of liabilities and was carried by JSPL's 100% subsidiary, Jindal Steel and Power, Mauritius Ltd.