This past year seems to have been great for touch smartphones with every technology manufacturer hoping to share a piece of the pie by unveiling new devices in the space. Adding to its already existing portfolio of 5 touch smartphones, Acer released three new smartphones for two new series beTouch and neoTouch at an event in Mumbai today. Dubbed beTouch E101, beTouch E200 and neoTouch S200, the smart touch handhelds appeared pretty interesting at a first glance.
While the beTouch series is aimed at the economical and fashion-forward youth of the country, the neoTouch line-up should suit the needs of business-class users. The interface of all three phones bears more than a passing resemblance to the iPhone. This time around Acer focuses more on social networking functions with integrated applications for Facebook, Flickr and the likes. Infact even the phone book has been enhanced to include a contact’s social networking ID along with other details. All the handsets are based on the Windows Mobile 6.5 operating system.
With 3G+ connectivity (HSPA), the phone also supports Wi-Fi and Bluetooth, and is enabled for speedy Internet access. It claims download speeds of 7.2Mbps and upload speeds of 3.2Mbps. Its other features include a 5MP camera with auto focus and flash, multimedia playback and superior graphics for games and applications. It also offers instant connection to social networks like Blogger, Flicker, You Tube, and Facebook.
Moving on to the beTouch line-up, both the E101 and E200 are powered by a robust Qualcomm 7225, 528MHz processor.
The E101 has been tailored with style-conscious users in mind. Allowing instant access to mobile internet while on-the-go, users will enjoy a seamless email, instant messaging, social networking, browsing experience. Adorning a slender profile, it sports a large 3.2” touch screen along with the latest version of Internet Explorer. Interestingly the phone includes a jog wheel that offers effortless access of favorite websites. Users can also use it like a mouse when scrolling pages or zooming in on details. With Windows Marketplace and Live Messenger, built-in Facebook and Flickr applications should keep users connected to their social network while on the go. The E101 also includes a 2MP camera with video recording. It’s offered in two colors namely black or white, while users can also select from colors like green, red and pink from among the optional battery covers.
Finally the beTouch E200 is fabricated for users who may have a really active life. Available in black and white shades, the phone boasts of a 3.0” QVGA touch screen, 3.2MP camera, and 5 navigation keys for easy touch or scroll browsing. In a stylish sliding form factor, the phone includes both touchscreen and physical keyboard functionalities. It’s fashioned for feature phone users who may wish to upgrade themselves to a simple touchscreen smartphone. Incorporated with effortless navigation abilities, users also gain instant access to email, bookmarks, calendars, music, YouTube, Google Maps, and Google Search. Besides access to social networking sites, it also offers Wi-Fi and Bluetooth support.
One might wonder what makes Acer stick to the Windows Mobile 6.5 platform in spite of advanced interfaces including the Android frenzy surrounding mobile devices. Seamless PC and Mobile synchronization offered by the Windows platform claims to keep Acer loyal to the platform. Nevertheless there’s good news in store as the company anticipates the launch of some new mobile devices based on the Google Android platform sometime around next month shared Richard Tan, Acer’s Sales Manager Asia Pacific & Country Head - India - Smart Handheld Business Group. Both Windows and Android-based smartphones are expected to be available parallel to each other and Acer could discontinue its Windows 6.1 phones.
The current handsets have been launched for emerging markets like India, China and Russia. The E101 and E200 are priced at Rs 11,999 and 17,899 respectively.. The neoTouch S200 is tagged at Rs 33,900.
Though the phones are open market devices, Acer has also tied up with Tata DoCoMo and users are offered 500MB data free of charge every month for 6 months on the purchase of the phones through DoCoMo. The handsets are not locked by the carrier.
Source:techshout.com
Thursday, November 26, 2009
Tata Steel, Tata Motors take the stage
MUMBAI (MarketWatch) -- It was not surprising to see Mr. Ratan Tata, chairman of India's 14-decade old Tata Group, steal headlines last week when he said the group is in the process of formalizing a successor to him.
His comment in an interview to The Wall Street Journal, that the successor could be an expatriate, drove emotions across the Indian community, for whom the brand Tata is a household name, and when the septuagenarian has been at the group's helm for 18 years now.
With businesses spanning steel, cars, chemicals, tea, hotels, information technology and more, the conglomerate pulls in annual revenue in excess of $70 billion -- with 65% of its sales coming from outside of India.
And Tata Group has been very much in the news (for reasons both good and bad) in the last two to three years, not just in India, but on the global scene. Developments included the group's minicar Nano -- touted as the world's cheapest car -- and its famed acquisitions of Anglo-Dutch steelmaker Corus, and the Jaguar-Land Rover, or JLR, luxury auto brands.
To brush up readers' memory, Tata Steel Ltd. /quotes/comstock/11i!tatifm (TATIFM 12.17, +0.15, +1.23%) in 2007 bought Corus for $12 billion to become the world's eighth-largest steelmaker by output, while Tata Motors Ltd. /quotes/comstock/13*!ttm/quotes/nls/ttm (TTM 13.85, +0.01, +0.07%) , another group company, paid $2.3 billion to buy Jaguar and Land Rover from Ford Motor Co. /quotes/comstock/13*!f/quotes/nls/f (F 8.81, 0.00, 0.00%) in 2008.
While the deals lent the Tata companies a stronger global footing, they preceded a financial crisis that sent the world's economy into turmoil, making many question the timing and the price paid for them.
Corus suffered, as lower prices since mid-2008 hurt steel makers globally, while weak demand in the key U.S. and Europe markets hurt the fortunes of luxury-car makers, to which JLR was no exception.
The ride since then has been pretty tumultuous, with Tata Steel and Tata Motors having to adopt stringent measures, including layoffs, to cut costs in an unfavorable pricing environment, manage production and sales volumes amid crimped demand, and cut down on the huge debt they raised to buy the foreign assets.
Therefore, as the two firms report their consolidated second-quarter results this week -- at a time when the world seems to be recovering from the crisis -- investors will be keen to see how much this restructuring has paid off and whether things have changed for good.
Analysts say that while losses at Corus and JLR may continue, the results are likely to reflect an improvement over the previous quarter.
Goldman Sachs expects Tata Steel to report a consolidated loss of 10.3 billion rupees ($222 million), against the 22.3 billion rupee consolidated loss reported in the April-June quarter.
The company, which reports Thursday, may see operating margins benefit from lower raw-material costs. Interest costs could also head southward after it paid off 19.45 billion rupees of high-cost debt and prepaid the 100 million pounds ($165 million) of debt in Corus in the July-September quarter.
It would be interesting to see the quantum of cost savings through the restructuring efforts. Corus saved 22 billion rupees in the previous quarter via these measures. But price realizations and a recovery in volumes at European operations will be the top items to watch for.
For Tata Motors, the performance of JLR will hold the key when India's largest auto maker by sales publishes consolidated numbers Friday. Falling sales at JLR pulled the company to its first consolidated annual loss in at least seven years in the 12 months ended in March.
The pain for JLR, like for Corus, continued in the first quarter (April-June) of the current fiscal year, forcing Tata Steel to report a consolidated net loss of 3.29 billion rupees, compared with a net profit of 7.20 billion rupees a year earlier.
However, there could be some relief on offer amid an improving British economy, the luxury carmaker's cost-rationalization exercises, efforts to stabilize volume growth, and recent fund-raising initiatives. Earlier this month, JLR struck a five-year distribution financing deal worth as much as 170 million pounds with GE Capital, a unit of General Electric Co. /quotes/comstock/13*!ge/quotes/nls/ge (GE 16.17, -0.01, -0.06%)
Investors will also look for a slide in interest costs for the quarter, with Tata Motors having paid back the $3 billion bridge loan taken for the JLR buy. The costs had surged 80% on year to 5.84 billion rupees in the first quarter.
The two companies reported encouraging second-quarter results for their Indian operations, helped by strong domestic demand. Tata Steel posted a net profit of 9.03 billion rupees, though down from 17.88 billion rupees a year earlier, but up from 7.9 billion rupees posted in the first quarter.
For Tata Motors -- which sells the Indica Vista hatchback, the Indigo Manza sedan, the Safari sports-utility vehicle and the Nano minicar -- domestic business exceeded expectations, as net profit more than doubled to 7.29 billion rupees in the second quarter on lower raw-material costs and increased sales.
Yet even with efforts to turn around the two overseas units underway, and despite it being still too early to determine whether it will be a sustained recovery, the shares of Tata Steel and Tata Motors continue to find takers in the Indian market.
These two Tata stocks have rallied in the run-up to these results. At their Friday closing prices of 551.60 rupees and 642.40 rupees, respectively, Tata Steel and Tata Motors have risen about 17% and 14% so far in November to be the top two percentage gainers on the Bombay Stock Exchange benchmark Sensex, which itself has gained 7.1% this month.
In fact, over the last 12 months, Tata Motors has nearly quadrupled in value to become the best-performing stock among the 30 Sensex components, while Tata Steel has surged about 244% -- outperforming the 91% return by the Sensex in the past year.
With such gains at least offering the semblance of recovery, a downside risk to the stocks cannot be ruled out if the numbers fail to reflect an improving pricing scenario and an uptick in demand.
Given that Mr. Tata's retirement is a good three years away, he would sure want to see Corus and JLR not only turn into sound profitable entities, but also pave the way for the multinational's future growth, before he hangs up his boots.
Just as he said in the interview to WSJ: "We have brands to nurture and hopefully bring back to their former glory."
Sourcemarketwatch.com
His comment in an interview to The Wall Street Journal, that the successor could be an expatriate, drove emotions across the Indian community, for whom the brand Tata is a household name, and when the septuagenarian has been at the group's helm for 18 years now.
With businesses spanning steel, cars, chemicals, tea, hotels, information technology and more, the conglomerate pulls in annual revenue in excess of $70 billion -- with 65% of its sales coming from outside of India.
And Tata Group has been very much in the news (for reasons both good and bad) in the last two to three years, not just in India, but on the global scene. Developments included the group's minicar Nano -- touted as the world's cheapest car -- and its famed acquisitions of Anglo-Dutch steelmaker Corus, and the Jaguar-Land Rover, or JLR, luxury auto brands.
To brush up readers' memory, Tata Steel Ltd. /quotes/comstock/11i!tatifm (TATIFM 12.17, +0.15, +1.23%) in 2007 bought Corus for $12 billion to become the world's eighth-largest steelmaker by output, while Tata Motors Ltd. /quotes/comstock/13*!ttm/quotes/nls/ttm (TTM 13.85, +0.01, +0.07%) , another group company, paid $2.3 billion to buy Jaguar and Land Rover from Ford Motor Co. /quotes/comstock/13*!f/quotes/nls/f (F 8.81, 0.00, 0.00%) in 2008.
While the deals lent the Tata companies a stronger global footing, they preceded a financial crisis that sent the world's economy into turmoil, making many question the timing and the price paid for them.
Corus suffered, as lower prices since mid-2008 hurt steel makers globally, while weak demand in the key U.S. and Europe markets hurt the fortunes of luxury-car makers, to which JLR was no exception.
The ride since then has been pretty tumultuous, with Tata Steel and Tata Motors having to adopt stringent measures, including layoffs, to cut costs in an unfavorable pricing environment, manage production and sales volumes amid crimped demand, and cut down on the huge debt they raised to buy the foreign assets.
Therefore, as the two firms report their consolidated second-quarter results this week -- at a time when the world seems to be recovering from the crisis -- investors will be keen to see how much this restructuring has paid off and whether things have changed for good.
Analysts say that while losses at Corus and JLR may continue, the results are likely to reflect an improvement over the previous quarter.
Goldman Sachs expects Tata Steel to report a consolidated loss of 10.3 billion rupees ($222 million), against the 22.3 billion rupee consolidated loss reported in the April-June quarter.
The company, which reports Thursday, may see operating margins benefit from lower raw-material costs. Interest costs could also head southward after it paid off 19.45 billion rupees of high-cost debt and prepaid the 100 million pounds ($165 million) of debt in Corus in the July-September quarter.
It would be interesting to see the quantum of cost savings through the restructuring efforts. Corus saved 22 billion rupees in the previous quarter via these measures. But price realizations and a recovery in volumes at European operations will be the top items to watch for.
For Tata Motors, the performance of JLR will hold the key when India's largest auto maker by sales publishes consolidated numbers Friday. Falling sales at JLR pulled the company to its first consolidated annual loss in at least seven years in the 12 months ended in March.
The pain for JLR, like for Corus, continued in the first quarter (April-June) of the current fiscal year, forcing Tata Steel to report a consolidated net loss of 3.29 billion rupees, compared with a net profit of 7.20 billion rupees a year earlier.
However, there could be some relief on offer amid an improving British economy, the luxury carmaker's cost-rationalization exercises, efforts to stabilize volume growth, and recent fund-raising initiatives. Earlier this month, JLR struck a five-year distribution financing deal worth as much as 170 million pounds with GE Capital, a unit of General Electric Co. /quotes/comstock/13*!ge/quotes/nls/ge (GE 16.17, -0.01, -0.06%)
Investors will also look for a slide in interest costs for the quarter, with Tata Motors having paid back the $3 billion bridge loan taken for the JLR buy. The costs had surged 80% on year to 5.84 billion rupees in the first quarter.
The two companies reported encouraging second-quarter results for their Indian operations, helped by strong domestic demand. Tata Steel posted a net profit of 9.03 billion rupees, though down from 17.88 billion rupees a year earlier, but up from 7.9 billion rupees posted in the first quarter.
For Tata Motors -- which sells the Indica Vista hatchback, the Indigo Manza sedan, the Safari sports-utility vehicle and the Nano minicar -- domestic business exceeded expectations, as net profit more than doubled to 7.29 billion rupees in the second quarter on lower raw-material costs and increased sales.
Yet even with efforts to turn around the two overseas units underway, and despite it being still too early to determine whether it will be a sustained recovery, the shares of Tata Steel and Tata Motors continue to find takers in the Indian market.
These two Tata stocks have rallied in the run-up to these results. At their Friday closing prices of 551.60 rupees and 642.40 rupees, respectively, Tata Steel and Tata Motors have risen about 17% and 14% so far in November to be the top two percentage gainers on the Bombay Stock Exchange benchmark Sensex, which itself has gained 7.1% this month.
In fact, over the last 12 months, Tata Motors has nearly quadrupled in value to become the best-performing stock among the 30 Sensex components, while Tata Steel has surged about 244% -- outperforming the 91% return by the Sensex in the past year.
With such gains at least offering the semblance of recovery, a downside risk to the stocks cannot be ruled out if the numbers fail to reflect an improving pricing scenario and an uptick in demand.
Given that Mr. Tata's retirement is a good three years away, he would sure want to see Corus and JLR not only turn into sound profitable entities, but also pave the way for the multinational's future growth, before he hangs up his boots.
Just as he said in the interview to WSJ: "We have brands to nurture and hopefully bring back to their former glory."
Sourcemarketwatch.com
Mumbai: A Shaken City Revives
A year after the terrorist attacks that brought Mumbai to its knees, India's financial capital has reverted to form, with shops and restaurants humming, bankers again throwing money around in pubs and clubs, and beggars thronging the streets. Yet there's a malaise brought on by heightened security, a lingering sense that the city remains a target.
Champagne brunches are interrupted by bomb-sniffing dogs. Brides are frisked as they walk from their cars to their weddings. At the Taj Mahal Palace hotel—the epicenter of the attacks—guards are on constant alert, earpieces in place even when they're trading cricket scores. As I pass through the metal detectors there, I am frisked, questioned, and followed, my backpack and bushy beard ringing instinctive alarms. "We've got 500 cameras all over South Mumbai, 29 patrol cars, 1,500 high-powered rifles," says Deven Bharti, a police official. "We've done a lot of things that are invisible."
Easier to spot are the physical reminders of the 60 hours last November when a band of 10 Muslim terrorists laid siege to Mumbai, killing 166. But the tragedy has morphed into a spectacle. At the Leopold Cafe—where the first shots were fired—foreigners jostle for the front tables, putting their fingers through the bullet holes still in the windows. Outside the Jewish Chabad House, the 107 spots where gunfire hit the wall are marked with red ink. In the lobby of the Taj, the house pianist plays Strangers in the Night and an American in a Bernie's Steakhouse T-shirt asks me, "Dude, this is where they killed those people, right?" Outside, a barefoot boy hawks the latest toy, a six-inch soldier crawling on his belly, cradling a rifle in his arms. "Bang, bang," the boy says. "Eighteen rupees, sir."
To an outsider, the speed with which the city has returned to normal may be disconcerting. But to those who call Mumbai home, the fact that the trains were running a day after the attacks, that the Taj reopened the next month, that the stock exchange has since soared—these all affirm the city's spirit. "People who live and work in the city of Mumbai, they've dealt with adversity before, with terror before," says Ajoy Misra, marketing chief for Tata Group's Indian Hotels, which runs the Taj. "It makes us tough. It gives us discipline."
As Mumbai has bounced back, though, so have its familiar divides. In the weeks after the attacks, the city mourned as one. Now, as before, the rich thrive and the poor barely survive. Late one night, I visit the Gateway of India, a classical arch built in 1911 to welcome King George V. The air on the Arabian Sea waterfront smells of garbage and salt. The sudden scratch and bright light from my cigarette lighter startle a policeman, who quickly grabs his ancient rifle. "We sleep here," he says, pointing to the sidewalk beneath the arch. Nodding toward the Taj, he says, "They don't even let us use the toilets in there."
Not far away, the wealthy throng Tote, a new nightclub so exclusive I can't beg my way in. I recognize a banker as he steps out of his Italian sports car. He manages to get me in the door, and soon his girlfriend is spraying us with Champagne. They're celebrating because his bank will represent Reliance Industries in its quest to buy chemical maker LyondellBasell for as much as $12 billion. "You know what those f------ terrorists don't understand?" the banker says, his cheeks red from too much booze. "You can't destroy money. And that's what this f------ city is."
Sourcebusinessweek.com
GE Capital provides Rs 1300 cr loan to JLR
GE Capital today signed an agreement with Jaguar Land Rover, the UK-based subsidiary of Tata Motors, to provide a working capital facility of up to £170 million for a five-year term.
The move will boost working capital within the company by shortening the 30-40 days gap the company has to wait between producing cars and delivering them to over 90 countries.
In a media release, GE Capital said the facility represents an innovative structure to finance JLR finished vehicle stocks between the points of production and onward sale to dealers on a revolving basis, as 90-day working capital.
“This is the first time that we are aware of in Europe, that a facility has been created to leverage this part of the distribution cycle and is demonstrative of how our pan-European asset and structuring expertise can truly benefit our customers,” said Rich Laxer, EMEA (Europe, Middle east and Afirca) President & CEO for GE Capital
This working capital loan will come as an additional support to JLR’s financial requirements, strained since the global economic slowdown over the past two years. Sluggish global demand for premium and luxury cars, which are JLR’s forte, led to the Midlands-based car maker seeking financial support from all possible sources within Europe and India.
Earlier last month, JLR had announced that it had secured a £175 million (Rs 1,300 crore) line from State Bank of India, over and above the $90 million (Rs 420 crore) committed export financing facility with ABC International Bank. In all, the company has raised nearly £670 million of new facilities this year, including those from SBI and ABC, and those secured earlier in the year from Standard Chartered Bank, Bank of Baroda, and Burdale Financial Ltd, a subsidiary of the Bank of Ireland, and now from GE Capital.
This also means JLR has raised twice as much funding as it had originally planned to within Europe, when it had managed to get approval for a £340 million loan from the European Investment Bank (EIB). However, it was unable to access this loan as it failed to get the UK government’s guarantee, which was a pre-condition by EIB to get the funding through. In August, JLR said that it would go ahead with its fund-raising plans without the support of the UK government and has since managed to secure twice as much loan as the UK government’s guarantee would have ensured.
Securing additional financial support is only part of JLR plans to claw its way out of the current recession. The company is moving ahead with fresh investments in the development of new models, including a new lightweight sedan, sports cars and sports utility vehicles and “electrification technology” (to produce hybrid cars). This Tata Group company also plans to rationalise its production, by closure of one its united, without any compulsory job losses, by 2014.
Over the past year, production in JLR was reduced by more than 1,00,000 units; spending and costs were cut, jobs reduced by 2,500, pay frozen and bonuses cancelled. “But this was not enough to offset the full magnitude of the downturn and the company swung from profit in 2007 to significant losses over the past 12 months. This was not a sustainable situation. Actions taken have started to reverse the trend, quarter over quarter, and we now have to take the company to the next level of competitiveness,” an earlier statement from JLR had said.
Sourcestandard.com
Job fest on November 28, 29
MOHALI: One of the biggest job fests of North India will be organised by Sri Sukhmani Institute of Engineering and Technology, Derabassi, on
Students of Punjab Technical University (PTU)-affiliated colleges have shown their enthusiasm in attending it. The college authorities said the placement fair was open for all streams of engineering, science, arts, hospitality and BTech (all branches), MBA, MCA, BCA, BSc (IT) and all graduates. The college recruitment cell has invited top and leading companies for placement.
Loveleen, placement officer, said prestigious companies, like Wipro, Trident, Google, Hero, Collebera Tata, Bharti Airtel, Maruti, Zephyr and EA Sports, among others, have been invited for placements.
Principal Dr GN Verma said Derabassi township has become a hub of all professional activities and with such initiatives as mega job fest, the youth and budding engineers of north India would benefit on a large scale.
The Punjab government has taken various initiatives to improve the employment scenario in the state and has been encouraging reputed firms to hire professionals from the region.
Eligible candidates can get registered at the venue, the college campus, by filling a form. The placement cell can be contacted at the group web page www.srisukhmanigroup.org . “On the spot registration is also open,” he said.
Sourceindiatimes.com
Students of Punjab Technical University (PTU)-affiliated colleges have shown their enthusiasm in attending it. The college authorities said the placement fair was open for all streams of engineering, science, arts, hospitality and BTech (all branches), MBA, MCA, BCA, BSc (IT) and all graduates. The college recruitment cell has invited top and leading companies for placement.
Loveleen, placement officer, said prestigious companies, like Wipro, Trident, Google, Hero, Collebera Tata, Bharti Airtel, Maruti, Zephyr and EA Sports, among others, have been invited for placements.
Principal Dr GN Verma said Derabassi township has become a hub of all professional activities and with such initiatives as mega job fest, the youth and budding engineers of north India would benefit on a large scale.
The Punjab government has taken various initiatives to improve the employment scenario in the state and has been encouraging reputed firms to hire professionals from the region.
Eligible candidates can get registered at the venue, the college campus, by filling a form. The placement cell can be contacted at the group web page www.srisukhmanigroup.org . “On the spot registration is also open,” he said.
Sourceindiatimes.com
Land Rover Introduces New Range Rover Model in India
NEW DELHI -- Land Rover Tuesday introduced the 2010 model of the Range Rover sports utility vehicle, with a starting price of 9.85 million rupees ($210,470).
The SUV will be offered with a diesel as well as gasoline engine option, Tata Motors Ltd.--which controls the U.K.-based luxury brands Land Rover and Jaguar--said.
Jaguar and Land Rover entered the Indian market in June by introducing the Jaguar XF, XFR and XKR sedans, as well as the Land Rover Discovery 3, Range Rover Sport and Range Rover SUVs.
The vehicles are sold via a single showroom in Mumbai, but the company recently announced plans to expand to six more Indian cities by March.
Tata Motors acquired Jaguar and Land Rover from Ford Motor Co. in June last year.
Sourcewsj.com
Sikkim sports enthusiastic gets interviewed aired in Kolkata Local Channel
23 Nov, Singtam: Roshan Prasad, 23 yr old from Singtam, Sikkim pursuing his Charter Accountant studies from Institute of Chartered Accounts of India at Kolkata was interviewed in Aakash Bangla Channel, a local TV channel from Kolkata for his collections on cricket and football memorabilia. The program was aired on November 13th at Bengali sports program “Khel at 11”. Talking from Kolkata, Roshan told it was a pride moment for him to get such appreciation.
Roshan is a budding philatelist from Sikkim whose collection on cricket theme has attracted wider admirers. His philatelic materials includes a rare withdrawn Bangladesh postage stamp with the unsanctioned ICC logo and second oldest cricket stamp of the world from Pakistan issued in 1962. Also included in his collection is an Official envelope of the Calcutta Cricket and Football Club which is the second oldest Cricket club of the world after Marylebone Cricket Club (MCC).
Another item of value in Roshan’s unbelievable collection is the medal of honour which was presented by the Cricket Association of Bengal to the former cricketers during its Golden Jubilee celebrations in the year 2005.This was gifted to Roshan by a former cricketer of Bengal Mr. Dipankar Ghosh. Roshan is also designing a “Special Cover” for Mohun Bagan AC to Commemorate 100 years of its IFA Shield triumph over East Yorkshire Regiment.
He has received appreciation letters from the National Cricket Academy, Cricket Association of Bengal and Mohun Bagan AC. He has also received official envelopes of the Tata Football Academy, Mohun Bagan AC, East Bengal, Mohammedan Sporting Club and Press Club of Calcutta. Even official letters of Indian Sports channels like Zee Sports and ESPN Star Sports grace his collection. His autograph collection of players like Bhaichung Bhutia, Shyam Thapa, Surav Ganguly and others is his biggest pride, told Roshan.
Sourcevoiceofsikkim.com
Tata's Xover to be on show at Auto Expo
KOLKATA: Tata Motors Ltd (TML) will showcase the much-awaited crossover vehicle Xover at the Indian Auto Expo in New Delhi this January. The Xenon XT
Tata Prima
Tata Xenon
Indica Vista
Tata Indigo Manza
Tata Motors' World Truck
vehicle, expected to be priced Rs 6-8 lakh, will hit the markets in the first half of the 2010 and plug a vital gap in its portfolio.
Positioned to take on Toyota Innova, Mahindra Xylo and Chevrolet Tavera, the Xover with its three row of seats will attempt to blend the benefits of a family-friendly luxury tourer with the refined driving dynamics and visual cues of an activity-oriented sports utility vehicle.
This seven-seater vehicle will sport a new generation engine, navigation system, ABS and air bags among other enhancements.
Created with extensive design inputs from London-based Tata Motors European Technical Centre (TMETC), the concept vehicle was first showcased at the 75th Geneva Motor Show in 2005.
A decision to go ahead with the production was taken a couple of years later and the vehicle design fine-tuned . Vendors for supply of components were then tied up and prototypes readied for testing earlier this year. According to sources, extensive testing of the prototypes is currently underway in western India.
“Xover’s production variant will be ready for display at the Auto Expo in New Delhi,” said Nitin Seth, head of car product group, passenger car business unit at TML.
While the vehicle will closely resemble the concept that was displayed at Geneva, the radical headlamp cluster of the concept could go for a more conventional set.
Seth, however, ruled out a production version of Prima, the concept luxury sedan designed by Pininfarina and showcased by TML at the 79th Geneva Motor Show earlier this year.
Sourceindiatimes.com
Indian Shares End Lower As Weak Asia, Banks, Metals Weigh
MUMBAI (Dow Jones)--Indian shares ended lower Tuesday, dragged down by some banks and metal stocks as well as gloomy Asian markets.
The Bombay Stock Exchange's 30-share Sensitive Index lost 49.10 points, or 0.3%, to end at 17,131.08. It traded between 17,027.52 and 17,230.86 during the session.
Asian markets ended mostly lower, with the Shanghai Composite Index posting its biggest single-day fall in nearly three months as concerns Beijing will tighten its monetary policy led to heavy profit-taking.
"Nothing much is happening in the market. The Sensex could be without a definite direction for the next two days until the expiry of (monthly) derivative contracts (on Thursday)," said Arun Kejriwal, director of KRIS Pvt. Ltd.
On the National Stock Exchange, the 50-stock S&P CNX Nifty declined 13 points, or 0.3%, to 5,090.55.
Total traded volume on the BSE was INR47.61 billion, up from Monday's INR43.60 billion. Gainers outnumbered decliners 1,372 to 1,370, while 87 stocks were unchanged.
"The Sensex is trading in a very tight range and participation by investors is lacking," said Deven Choksey, managing director of K.R. Choksey Securities.
Banks fell on profit-taking by investors after a recent rally and on concerns over weak credit outlook.
The fundamental credit outlook for the Indian banking system remains negative, reflecting "rising level of problem loans and the resulting adverse implications for asset quality," Moody's Investor Service said Monday.
Private lender ICICI Bank fell 1.3% to INR905.30, while the State Bank of India slipped 0.7% to INR2,304.60.
Metals were weak, reflecting muted base metal prices on the London Metal Exchange.
Tata Steel, the world's eight-largest steelmaker by output, reversed Monday's 3.9% gain to close down 2.8% at INR557.40. Copper producer Sterlite Industries slid 1.9% to INR854.55.
Reliance Industries--which had jumped 3.3% Monday--finished 0.9% lower at INR2,176.10, while Oil & Natural Gas Corp. shed 1.1% to end at INR1,173.30.
Auto stocks were firm on short-covering by investors ahead of the expiry of monthly derivative contracts Thursday, dealers said.
Car maker Maruti Suzuki gained 2.7% to close at INR1,599.40 while sports utility vehicle maker Mahindra & Mahindra rose 2.4% to INR1,067.45.
Telecom companies rose on value-buying from investors following a recent decline. Bharti Airtel--India's largest cellphone operator by subscribers--climbed 2.3% to INR282.00, while rival Reliance Communications closed up 0.8% at INR173.45.
Among non-Sensex stocks, cable television distributor DEN Networks plunged 16.4% to INR163.10 on its first day of trading as market watchers felt the company's initial public offering was overpriced. The shares were sold at INR195 apiece.
Sourcewsj.com
The Bombay Stock Exchange's 30-share Sensitive Index lost 49.10 points, or 0.3%, to end at 17,131.08. It traded between 17,027.52 and 17,230.86 during the session.
Asian markets ended mostly lower, with the Shanghai Composite Index posting its biggest single-day fall in nearly three months as concerns Beijing will tighten its monetary policy led to heavy profit-taking.
"Nothing much is happening in the market. The Sensex could be without a definite direction for the next two days until the expiry of (monthly) derivative contracts (on Thursday)," said Arun Kejriwal, director of KRIS Pvt. Ltd.
On the National Stock Exchange, the 50-stock S&P CNX Nifty declined 13 points, or 0.3%, to 5,090.55.
Total traded volume on the BSE was INR47.61 billion, up from Monday's INR43.60 billion. Gainers outnumbered decliners 1,372 to 1,370, while 87 stocks were unchanged.
"The Sensex is trading in a very tight range and participation by investors is lacking," said Deven Choksey, managing director of K.R. Choksey Securities.
Banks fell on profit-taking by investors after a recent rally and on concerns over weak credit outlook.
The fundamental credit outlook for the Indian banking system remains negative, reflecting "rising level of problem loans and the resulting adverse implications for asset quality," Moody's Investor Service said Monday.
Private lender ICICI Bank fell 1.3% to INR905.30, while the State Bank of India slipped 0.7% to INR2,304.60.
Metals were weak, reflecting muted base metal prices on the London Metal Exchange.
Tata Steel, the world's eight-largest steelmaker by output, reversed Monday's 3.9% gain to close down 2.8% at INR557.40. Copper producer Sterlite Industries slid 1.9% to INR854.55.
Reliance Industries--which had jumped 3.3% Monday--finished 0.9% lower at INR2,176.10, while Oil & Natural Gas Corp. shed 1.1% to end at INR1,173.30.
Auto stocks were firm on short-covering by investors ahead of the expiry of monthly derivative contracts Thursday, dealers said.
Car maker Maruti Suzuki gained 2.7% to close at INR1,599.40 while sports utility vehicle maker Mahindra & Mahindra rose 2.4% to INR1,067.45.
Telecom companies rose on value-buying from investors following a recent decline. Bharti Airtel--India's largest cellphone operator by subscribers--climbed 2.3% to INR282.00, while rival Reliance Communications closed up 0.8% at INR173.45.
Among non-Sensex stocks, cable television distributor DEN Networks plunged 16.4% to INR163.10 on its first day of trading as market watchers felt the company's initial public offering was overpriced. The shares were sold at INR195 apiece.
Sourcewsj.com
Tata Nano from Dilip Chhabria Design Studio
At an additional cost of Rs. 80,000, Tata Nano owners can possess ‘Hot Nano’ re-designed exclusively at DC Designs Private Limited owned by renowned car designer Dilip Chhabria. He has designed some of the costliest cars in the country and is now planning to lend his magic spell to world’s cheapest car to turn it into Cinderella.
Dilip Chhabria design studio will be redesigning 200 Nanos once the car is delivered to their respective owners from the showrooms. It has tied up with Carnation Auto India Limited owned by ex-MD of Maruti Suzuki, Jagdish Khattar. “We call it Hot Nano,” Chhabria told the press during a visit to Ahmedabad. “We will finalise a brand name for the redesigned vehicle,” he said. Although he refused to divulge the exact figures but he indicated that there is long list of customers who are waiting to have their Nanos redesigned. The first re-designed vehicle is expected to be launched in December 2009.
Dilip Chhabaria has already designed cars for various celebrities in India including Amitabh Bacchan, Shah Rukh Khan, Geet Sethi, Sanjay Dutt and more. He has designed more than 2000 cars in India including limousines and various luxury sports car models.
Sourcecartradeindia.com
Time not on Delhi's side for 2010 Commonwealth Games
A year from now, the eyes of the sporting world will be on India, as the country's capital prepares to host the 2010 Commonwealth Games Oct. 3-14.
With the one-year countdown officially on, there are serious concerns that Delhi won't be able to pull it off.
"Two years before the Games, I had told the organizing committee that time was not your friend," Commonwealth Games Federation president Mike Fennell told reporters after an October meeting of representatives in Delhi. "And now, one year before it, I say, time is your enemy."
India has never hosted an event of this magnitude.
The 1982 Asian Games were held in Delhi, but that event was much smaller than the Commonwealth Games, which will feature athletes from 71 countries of the former British Empire competing in 17 different summer sports.
Delhi organizers must act quickly to hire experienced foreign consultants in logistics, infrastructure and ticketing, Fennell said.
With so much national pride invested in the event, the call for more outside help is a tough pill to swallow for organizers.
"A lot of in-house expertise has grown in India that is best in the world," Delhi organizing committee spokesman Uday Sahay said.
Organizers are prepared to hire additional foreign consultants, Sahay acknowledged, but in most areas, India feels it is capable of providing its own expertise.
Construction delays causing concern
As workers put in the final panes of glass and size up the solar panels at Delhi's shiny new netball stadium, engineer Umesh Bhansal beams with pride.
"We feel proud," he said. "But we are also under tremendous pressure to complete all the venues by December."
Bhansal's tasks seem to be going according to schedule, but it's a different story at many other venues.
Weeks before it's due for a final inspection, the national field hockey stadium is far from ready.
The playing surface is a messy mix of grey and maroon, full of mud and gravel. The bleachers are still missing — no seats for spectators, just row upon row of stone steps.
With so much work still to be completed, and so little time left before the test events in early 2010, this place should be a hum of activity, with the beeping of backhoes and grinding of hydraulic tools. But on the autumn day that I visited, it was virtually silent, except for the persistent sound of raindrops that had turned the site into a mud pit.
A shot of the current state of the playing surface and stands at the national field hockey stadium in Delhi. (Mihira Lakshman) As the labourers lounged under the bleachers, small half-naked children provided the only action, playing around the scaffolding.
The cranes stood idle.
A report in July indicated that 14 of the 19 venues were at risk of not being finished in time for the fall construction deadline.
But according to organizers, only two venues, cycling and rugby, are running behind their construction schedule, and even those are still expected to be completed by the spring, months before the Commonwealth Games begin.
"The [federation] added a lot of other parameters to the existing ones," Sahay said in an attempt to justify the delays.
"In cycling, they said it had to have a wooden track, but we had already made a concrete track. To make the adjustments, it takes time. And, that was perceived by media that things [were falling behind deadlines]."
Gridlock a security concern
The roads leading up to the stadiums aren't in great shape either.
Many concrete overpasses and bridges remain in a constant state of construction, acting as pylons and obstacles for vehicles trying to navigate Delhi's labyrinth of streets.
The perpetual gridlock has officials worried, especially since some reports have indicated that the roadwork might not be completed in time for the Games.
The incomplete venues and transportation headaches stand in the way of security officials, as they desperately try to construct detailed safety and evacuation plans.
"We're confident that they're going to get it done," Sgt. Mark Bolduc of the RCMP said after a meeting of Commonwealth security officials in September.
It's a huge concern for Indian officials, especially after England pulled its badminton team from the world championships in Hyderabad in August because of security worries.
Message control
Keen to steer the attention to other areas and combat the negative press, organizers are trying to regain control of the message.
"There are more to the Commonwealth Games than just security and infrastructure," Sahay quips. "We have the whole green Games issue, cultural programs and housing projects."
It's a muddy day outside the unfinished field hockey stadium in Delhi. (Mihira Lakshman)
Indeed, these Commonwealth Games could be among the greenest, with energy-efficient stadiums using less electricity than those at past events. Cultural programs and celebrations will likely be spectacular in a country renowned for its colourful festivals.
But the practicalities of venues and roads are still first and foremost on the minds of top federation officials.
Too soon to panic
Canadian officials aren't panicking, but they are concerned.
"I think all of us find it intriguing," said Andrew Pipe, president of the Commonwealth Games Association of Canada.
"India has been such a dynamic commercial powerhouse that has got such great corporate citizens like Tata and Unisys, but it is having some of these problems.
"I think president Fennel's comments are designed to catalyze or galvanize activity on the part of the Indian government, the Indian hosts and the Indian community in Delhi so that those concerns prove to be ill founded."
At least a few of the engineers supervising the construction in Delhi are feeling the heat.
The criticism in the media and from senior federation officials are speeding up the work, Bhansal says. But there's no need to panic, according to Pipe. The fall deadlines for venue construction had a built-in buffer zone, and the Games aren't until next October.
Delhi organizers remain confident despite the criticism from Indian media outlets and federation officials.
But they are searching for ways to silence those critics — accepting more foreign help and embarking on an aggressive marketing campaign — to ensure the country's dream doesn't turn into a public relations nightmare.
Sourcecbc.ca
Neo Sports eyes gross billings of Rs 150 cr from India-Aus ODI series
With Australia winning the fourth ODI against India, the series is poised at an exciting stage. Given the tremendous interest in this seven-match India-Oz ODI series, Neo Sports is targeting gross billings of Rs 150 crore. The broadcaster has roped in eight sponsors for this series, thus closing all its spots.
In conversation with exchange4media, Abhishek Verma, Head - Marketing and Communications, Neo Sports, said, “We have set revenue target upwards of Rs 100 crore leading to Rs 150 crore and that is what we are all looking forward to. Traditionally, audiences have been hardcore followers of Team India, hence whenever India has been playing good cricket, it has lead to ratings irrespective of the format of the game. For instance, the India-Aus Test series had seen average ratings, which were much higher than Champions League T20 ratings, therefore, people are also interested in watching the long format of the game.”
He further said, “We are expecting minimum ratings of 8 or 9 TVRs on any of these matches and these are higher rated than most of the GECs or even other matches played in recent months. We are, therefore, very enthused with this kind of response received as we have always maintained that ratings come only when India is playing an opposing side, and now that India is also winning matches, one can expect to see good ratings.”
Neo Sports claims to have filled all the eight spots with Hero Honda at the title sponsor of the ODI series. Neo Sports has also roped in Tata Docomo, Tata Motors, HP, Gillete, Samsung, Perfetti and Airtel DTH.
While the ad rates on Neo Sports for bulk ads stood ar Rs. 3.5 lakh for a 10-second spot, the normal spot buys included Rs 4 lakh for a 10-second spot.
With Gillette also on board, it is said to have signaled the entry of FMCG majors into cricket after two years, thus becoming the first co-presenting sponsorship. This apart, the overall billing is also likely to cross Rs 150 crore in this series.
The India-Australia seven-match ODI series, which commenced on October 25, will conclude on November 11.
Sourceexchange4media.com
In conversation with exchange4media, Abhishek Verma, Head - Marketing and Communications, Neo Sports, said, “We have set revenue target upwards of Rs 100 crore leading to Rs 150 crore and that is what we are all looking forward to. Traditionally, audiences have been hardcore followers of Team India, hence whenever India has been playing good cricket, it has lead to ratings irrespective of the format of the game. For instance, the India-Aus Test series had seen average ratings, which were much higher than Champions League T20 ratings, therefore, people are also interested in watching the long format of the game.”
He further said, “We are expecting minimum ratings of 8 or 9 TVRs on any of these matches and these are higher rated than most of the GECs or even other matches played in recent months. We are, therefore, very enthused with this kind of response received as we have always maintained that ratings come only when India is playing an opposing side, and now that India is also winning matches, one can expect to see good ratings.”
Neo Sports claims to have filled all the eight spots with Hero Honda at the title sponsor of the ODI series. Neo Sports has also roped in Tata Docomo, Tata Motors, HP, Gillete, Samsung, Perfetti and Airtel DTH.
While the ad rates on Neo Sports for bulk ads stood ar Rs. 3.5 lakh for a 10-second spot, the normal spot buys included Rs 4 lakh for a 10-second spot.
With Gillette also on board, it is said to have signaled the entry of FMCG majors into cricket after two years, thus becoming the first co-presenting sponsorship. This apart, the overall billing is also likely to cross Rs 150 crore in this series.
The India-Australia seven-match ODI series, which commenced on October 25, will conclude on November 11.
Sourceexchange4media.com
Shyam Thapa Wants To Develop Football In The North East
After four months at TFA where Thapa felt there wasn’t much to do, the former East Bengal and Mohun Bagan striker wants to develop an academy in the north eastern India.
“I met Bimal Gurung of the Gorkha Janmukti Morcha and explained to him of the footballing history we have from that Hill region. Earlier, we had players like Ram Bahadur and many more and but there aren’t many players coming up from the region.
“We spoke of an academy and he has asked me for a budget. Gurung is a football lover,” informed Thapa.
The plan is to involve several ex-players from the Hill region in coaching programmes and a residential academy is also being thought of.
“Siliguri seems to be a good place for an academy. I shall travel for the next two or three months and speak to the ex-players and discuss the plan in detail,” added Thapa.
Sourcegoal.com
“I met Bimal Gurung of the Gorkha Janmukti Morcha and explained to him of the footballing history we have from that Hill region. Earlier, we had players like Ram Bahadur and many more and but there aren’t many players coming up from the region.
“We spoke of an academy and he has asked me for a budget. Gurung is a football lover,” informed Thapa.
The plan is to involve several ex-players from the Hill region in coaching programmes and a residential academy is also being thought of.
“Siliguri seems to be a good place for an academy. I shall travel for the next two or three months and speak to the ex-players and discuss the plan in detail,” added Thapa.
Sourcegoal.com
15th Puri Beach Festival to be start from 23rd November
The International 15th Puri Beach Festival organised by the joint venture of Hotel Association of Puri, Department of Tourism, Government of Orissa, Ministry of Tourism, Government of India, District Administration, Puri, Puri Municipalicty,District Cultural Council Puri, Department of Sports Government of Orissa, Department of Culture, Government of Orissa, EZCC Kolkata, Song and Drama Division , Government of India, Kolkata , HARO and THRAO to be commence from 23rd November to 27th November.
On the inaugural ceremony on 23rd November Minister of Tourism Devi Prasad Mishra and Chairman of Puri Puri Beach Festival Organising Committee Maheswar Mohanty will light the lamp at the lotus feet of Lord Jagannath Mahapravu and declaire the International Festival open.Dr Mrs. Mona Sharma Commissioner Cum Secretary of Tourism and Culture ,Ashok Meena RDC Central Zone ,T.Ao Director of Tourism ,Smt. Shantilata Pradhan Chairman of Puri Municipality,Rabi Mallick Legislature Kakatpur,Pitabash Routaray General Manager PPL,Fakir Charan Satpathy Collector Puri,Soumendra Priyadarshi, Superintendent of Puri, R.C.Bhuyan Assistant Director ,India Tourism,Bijay Krishna Das Vice Chairman of Festival Committee ,Ram Chandra Singhari, Convenor , Cultural Committee, Jagadish Prasad Patnaik, Convenor of Cultural Committee will join as Guest of Honour.Ramakrushna Das Mohapatra Working Chairman of Puri Beach festival Organising Committee and President of Puri Hotel Association will Presided over the occasion.
On 2nd day Tuesday Justice A.S.Naidu of Orissa High Court will join as Chief Guest.Smt. Anu Garg Commissioner cum Secretary Industries department, A.K.Bhora General Manager of Easr Coasr Railway, Talchhu Nilakantha Mohapatra ,Jayanta Kumar Sarangi Chairman of Lodging House Fund, A.K.Srivastav Chairman of NALCO,Sabyasachi Mohapatra Vice Chasirman of Puri Municipality,Uma Panigrahi President of Ganjam district Hotel association, Harekrushna Mahasuara,Convenor ,Sports and Exhibition Committee, Narayan sahoo Member Festival Committee will join as Guest of Honour.
On the 3rd day Wednesday Vice- Chairman of Planning Board Surendra Nayak will join as Chief Guest.Prafulla Kumar Samal Minister of Panchayati Raj, Information and Public Relation, Bikram Arukh Minister of Law ,tathagat Satpathy Member of Parliament,Bishnu Prasad Das of Bidhansabha Appeal Committee , Sanjaya Das Burma Legislature,Debadri Bhusan Banerjee Convenor Accomodation Committee, Srikanta Sahoo Member of Festival Committee,Debasis Kumar Convenor of Finance Committee, Lalatendu samantaray member of Festival Committee will join as Guest of Honour.
On the 4th day Thursday Suryanarayan Patra Revenue Minister will join as Chief Guest.Dillip Ray,Chairman of Mayfair Group of Hotels ,Pradeep Maharathi Legislature,Sameer das Legislature,Jitu Patnaik Legislature,Anup Patnaik DG Vigilance Orissa, Arun Mishra General Manager Tata Steel, Bhakta Charan das President Jagannath Ballava Trust,Dr. Sithikantantha Mishra President of Indian Tourism Congress, Dr. P.K.Nanda Noted Dental Surgeon, Basudev sahoo Convenor of Publicity Committee, Gadadhar Sahoo Member of Festival Committee, Mohit Das Member Festival Committee, Rabinarayan Mishra Member Festival Committee, and Pravat Kumar rath Member of Festival Committee will join as Guest of Honour.
5th day on Friday and Closing Ceremony Puspanjali at the Lotus Feet of Lord Jagannath mahapravu by the Chief Guest Muralidhar Chandrakant Bhabdare Governor and Raghunath Mohanty Minister of Industry,Mining and Geology,Smt. Arati Ahuja Commissioner Cum Secretary Handloom and Textile,Bhaskar Jyoti Sharma Director of Agriculture, Mahimananda Mishra Chairman of Orissa Stevadors, K.Raghuramaiah Chairman of Paradip Port Trust,Rajendra Kumar Patra Noted CA,J.K.Mohanty Chairman of Swosti Group of Hotels,Shankaracharya Pradhan President of Angul Hotel Association,Shankar Banarjee Member Festival Committee, Dillip Kumar Nanda President of THRAO,Sandeep Patnaik Member of Festival Committee, Lal Saheb Singh Member of Festival Committee,Ramchandra Singhari Convenor of Cultural Committee , Durga Prasad Das Member of festival Committee and all members of Hotel Association of Puri will join as Guest of Honour.
Sourceorissadiary.com
Land Rover Goes Large With $100,000 Mud Bath: Jason H. Harper
Nov. 5 (Bloomberg) -- That’s not a road, that’s a stream running down a steep ravine.
Make no mistake, this is Vermont, that is a road, and I’m slogging up it in a Land Rover LR4, leading a flotilla of sports utility vehicles as water burbles down sodden logs and over big, rounded boulders. Each truck has an off-road instructor aboard, which is a good thing as this is no country for amateurs.
Tata Motors Ltd. bought Land Rover from Ford Motor Co. early last year, and the company recently completed overhauls on its three U.S. models. Over several days in three states, I test the LR4, Range Rover Sport and Range Rover on-asphalt and off.
It’s a rare SUV owner who purposefully dips a tire into a muddy pothole, but Land Rover scrupulously maintains its products’ hardcore 4X4 capabilities. We’re talking fording African rivers and scaling Outback boulders here.
That Swiss-army-knife prowess comes at a price -- added weight, poorer gas mileage and stickers that can run to more than $100,000, whether you’re riding the Rubicon Trail or just rolling along Rodeo Drive.
All three models crack the scale at some 5,800 pounds, so the differences among them lie in amenities and price. The “baby” of the bunch is the $48,000 LR4, which started life as the Discovery model and then the LR3. For 2010, it becomes the LR4, with extensive exterior and interior design changes and a more powerful, direct-injected, 5.0-liter V-8.
Backwoods Crawler
The LR4 is also the most versatile of the lineup, with room for seven passengers and rear seats that fold neatly into the floor. You could use it as a work vehicle, family hauler or backwoods crawler.
The previous model looked tough and blocky, and some perceived it as less than luxurious. The grill and sides have been reworked and the effect is softer, shinier, cuddlier. I liked the old look.
But even muddy isolationists would appreciate the new interior, which gets a spiffy center column and is comfortable and tactile in a way the previous version wasn’t.
Even with 375 horsepower and 375 pound-feet of torque, the LR4 is slow. You simply can’t mitigate all that weight. Also, an issue across all models is Land Rover’s rather lazy six-speed automatic transmission, which feels a generation behind other luxury carmakers.
Surface Switch
The big truck gives a super comfortable ride, and the automatic air suspension does a remarkable job of multitasking between smooth asphalt, jostling gravel and bumpalicious trails.
Off road, the beast truly comes alive. Like its big brothers, the LR4 comes with a driver-selected terrain response system, allowing you to counteract conditions like snow and mud, ruts and sand.
On that so-called “road” in Vermont, longtime Land Rover instructor Bob Burns gets out and directs me through the terrain. I barely crawl along, taking cues to balance a front wheel atop a boulder, to skirt a tree stump or romp through a deep mud pit.
Only when I get out on foot and fall into the mud do I realize just how steep and slick the track really is.
Which brings us to the midrange Sport and the top-of-the- rock Range Rover models. Both received gentle exterior and interior facelifts, updated electronics and a choice of two more-efficient engines.
As looks go, the Sport is my favorite. With oversized tires and aggressive front air intakes, it’s like a kid’s Big Wheel toy come to life. Meanwhile the Range Rover’s proportions, with flat roof, big windows and long rear overhang, are as recognizable from afar as those of the Porsche 911. It gets further refined with new headlamps and taillights and a massaged grill.
Supercharged Option
The major upgrade is the two new choices of engine: a naturally aspirated V-8, or a supercharged version. The lesser has 375 hp, while the supercharger bumps it to a prodigious 510. There’s a matching price difference too; a base of $60,495 or $74,195 in the Sport; and $79,275 to $95,125 for the Range Rover.
After driving all four varieties back to back, there’s little question (okay, no question), that the supercharged engine is a lot more fun. And the gas mileage of 12 city and 18 highway doesn’t get any poorer with the supercharger. That said, I doubt Earth First! members will thank you for that fact.
The Sport handles its girth the most capably, with less body roll and able braking. (The supercharged version gets six- piston brakes versus four.) The company says the Sport will do everything off-road that the LR4 can, though the low-profile tires are more prone to punctures in the sidewalls.
Aging Linebacker
The Range Rover is the plushest of the three, and broadcasts a shoulder-rolling confidence like an aging linebacker wearing Burberry. It’s also the most difficult to corral in tight corners. It’s a big ol’ boy and it needs lots of room.
Still, I’ve seen its extraordinary chops off-road and it will manage the hills of Moab, Utah, as easily as those of Beverly.
Just promise to dip those tires in a muddy pothole once in a while.
The 2010 Land Rover LR4, Range Rover Sport
and Range Rover at a Glance
Engines: 5.0-liter V-8 with 375 hp or in supercharged form with 510 hp.
Transmission: Six-speed automatic transmissions.
Gas mileage per gallon: 12 city; 17 city (LR4 and Sport); 12; 18 (Range Rover).
Prices as tested: LR4, $61,000; Sport Supercharged, $83,345; Range Rover Supercharged, $106,000.
Best feature: You can’t believe the places these big trucks can take you.
Worst features: Awfully heavy, poor gas mileage.
Target buyer: The driver who wants a Swiss-army-knife type of vehicle.
(Jason H. Harper writes about autos for Bloomberg News. The opinions expressed are his own.)
Sourcebloomberg.com
Live Issue... Branding battle rages as India's telco market expands
New entrants into the fast-growing telecoms industry are marketing to low-spending users to gain share.
A major branding battle is under way following the opening up of India’s telecoms sector. Tata DoCoMo, Aircel and MTS have become the latest players to enter the market. Those in the process of rolling out their services in the next few months include Unitech Wireless, which recently appointed Leo Burnett and ZenithOptimedia to handle its nationwide launch.
The new telco players are planning aggressive campaigns while the older players are busy guarding their territory. According to GroupM, the estimated telecoms adspend for 2009 is expected to reach US$419 million, a 15 per cent rise on 2008.
The primary strategy of the new telcos is based on pricing and segmentation. Arvind Sharma, chairman of Leo Burnett South Asia, which recently won the creative business of Unitech Wireless, says that telecom consumers in general have an enormous amount of inertia and tend not to switch brands. “New entrants are either dependent on new consumers or lower-end consumers who are looking for a deal,” he says. “The challenge for them is the marriage of an attractively priced product with an upscale brand image. How does a brand avoid looking cheap?”
Tarun Singh Chauhan, executive director of Lowe Lintas, which handles telco Idea Cellular, agrees. “India has some really strong brands already in this space offering a great product. Therefore, the offering new brands are making is price-based, which will hurt them at some stage.”
According to Sharma, among the new entrants, Tata DoCoMo, a joint venture between Tata Teleservices and NTT DoCoMo, has made an impressive entry. The telco launched its mobile services on 10 July and has introduced a per-second tariff scheme, a first in India. The scheme seems to have gone down well with low-spending consumers. In fact, it has been so successful that in September alone Tata DoCoMo added four million subscribers, more than market leader Bharti Airtel, which added only 2.5 million. Even though Tata is rumoured to be losing money, it has already launched services in 10 ‘circles’ (licence regions) out of the 23 it has been granted.
Besides its lucrative pricing, clear segmentation and aspirational advertising (its logo created by Wolff Olins can be read both vertically and horizontally) seem to have helped the quick take-up.
Its competitor MTS, owned by a joint venture between Sistema of Russia and Shyam Group of India, launched its service in March and has managed to net only two million subscribers in six circles. Experts say that MTS has not witnessed the success seen by Tata due to lack of a sharp proposition and segmentation. “It has an appeal that is broad and generic and does not say enough about MTS as a service provider,” says Sharma.
The established players like Airtel, Vodafone, RCom, Idea and BSNL are sticking to big-spending strategies that include sports sponsorship and advertising.
Chauhan says there is no change in Idea Cellular’s marketing strategy. “We have a long-term plan and vision for the brand in place and we are moving towards that direction. Price is a tactical issue and being addressed if needed.”
He adds that Idea, like other big telcos, will continue to sponsor cricket events and awards shows.
A telco marketer on one established brand, who did not want to be named, believes the new telcos are simple burning money. “Having 14 telcos in one market is not sustainable. Most big telcos already have 60 to 120 million subscribers and are too far ahead.”
But with India’s telco market predicted to double from its current 346 million subscribers to 730 million by 2013, there are plenty willing to take a risk on it.
Sourcemedia.asia
Big money for Dr T Ao Trophy
Dimapur, November 1 (MExN): Compared to past sporting events held in Nagaland, this year’s North East Dr. T Ao Trophy 2009 to be held from tomorrow at the DDSC Stadium in Dimapur is expected to be a big draw not only in terms of the event but also the cash pouring in. According to sources, the state government had proposed around Rs.2 crores for the mega football event in line with the stature of the tournament. The department of Sports & Youth Resources has reportedly released around Rs.80 lakhs so far, while the Ministry of DoNER has sanctioned around Rs.40 lakhs to the Nagaland government as funds for the tournament to be held from November 2 to 12.
When contacted, Secretary of DoNER, Uttam Sangma, confirmed that an amount of Rs.40 lakhs and 66 thousand has been given to the state as funds from the NEC for the T Ao soccer event. On query about the proposed money being Rs.2 crores, the DoNER official only mentioned the stated fund allocated by DoNER.
Meanwhile, big prize money awaits the players and teams for the mega event. According to figures released by the Nagaland Football Association (NFA) of the prize money, a total of approximately Rs.19 lakhs is up for grabs for various categories of awards. According to a press note from the NFA Secretary, K Neibou Sekhose, the Champion team will get Rs.7 lakhs along with a Rolling Trophy, medals and certificates. The Runners-up will get Rs.4 lakhs along with a Rolling Trophy, medals and certificates. Even the third and fourth placed teams can expect Rs.2 lakhs and Rs.1 lakh respectively, along with medals and certificates.
Besides these huge prizes, another Rs.50, 000 has been kept for the Fair Play Winner, while the Player of the Tournament will get Rs.25, 000. The highest scorer and best goalkeeper will also pocket Rs.10, 000 each. To add to this, the Coach and Manager of the Champion team will purse Rs.15, 000 each, while similar awards of Rs.10, 000 each have been reserved for the Coach and Manager of the Runners-up team. That is not all – all the losing teams (league stage) will get richer by Rs.50, 000 each. According to the official information, there are eight teams participating, which mean that all of them will get the said amount even if they do not win. This amounts to Rs.4 lakhs for the eight teams.
Traffic rules for inaugural function
Dimapur, November 1 (MExN): The Superintendent of Police (Traffic) Dimapur has issued some regulations to be followed during the first NE Dr. T Ao Football Tournament’s inaugural function on November 2, 4:00 pm at DDSC Stadium.
The Superintendent in a notification stated that only the vehicle of the Chief Minister and the chief guest will be allowed inside the stadium. Parking arrangements for the pilot/escort vehicles of the CM and chief guest have been allotted near the vehicular entrance gate.
It also stated that the parking space for VIP or Senior Officials’ vehicles have been reserved outside the stadium, which starts from the vehicular entrance gate to Ajay petrol pump.
Meanwhile, the parking space along the Golaghat road starting from North East Gate has been reserved for vehicles ferrying officials and participants of the said tournament.
For public, the vehicles may be parked at the premises of the Tenyimi Union’s office, behind Tragopan Hotel during the inaugural function, adding to that the Tata parking area will also be cleared for parking vehicles, the note stated.
It also informed that the flow of traffic will be regulated from New Field Check Gate from 2:00 pm till the conclusion of the inaugural function.
Moreover, unauthorized parking of heavy and medium vehicles, including 207 Tata Mobile vehicles will not be allowed along the NH 39, extending from Hollotoli School to Tragopan traffic point and the main road extending from Tragopan Point to City Tower, it stated.
Sourcemorungexpress.com
When contacted, Secretary of DoNER, Uttam Sangma, confirmed that an amount of Rs.40 lakhs and 66 thousand has been given to the state as funds from the NEC for the T Ao soccer event. On query about the proposed money being Rs.2 crores, the DoNER official only mentioned the stated fund allocated by DoNER.
Meanwhile, big prize money awaits the players and teams for the mega event. According to figures released by the Nagaland Football Association (NFA) of the prize money, a total of approximately Rs.19 lakhs is up for grabs for various categories of awards. According to a press note from the NFA Secretary, K Neibou Sekhose, the Champion team will get Rs.7 lakhs along with a Rolling Trophy, medals and certificates. The Runners-up will get Rs.4 lakhs along with a Rolling Trophy, medals and certificates. Even the third and fourth placed teams can expect Rs.2 lakhs and Rs.1 lakh respectively, along with medals and certificates.
Besides these huge prizes, another Rs.50, 000 has been kept for the Fair Play Winner, while the Player of the Tournament will get Rs.25, 000. The highest scorer and best goalkeeper will also pocket Rs.10, 000 each. To add to this, the Coach and Manager of the Champion team will purse Rs.15, 000 each, while similar awards of Rs.10, 000 each have been reserved for the Coach and Manager of the Runners-up team. That is not all – all the losing teams (league stage) will get richer by Rs.50, 000 each. According to the official information, there are eight teams participating, which mean that all of them will get the said amount even if they do not win. This amounts to Rs.4 lakhs for the eight teams.
Traffic rules for inaugural function
Dimapur, November 1 (MExN): The Superintendent of Police (Traffic) Dimapur has issued some regulations to be followed during the first NE Dr. T Ao Football Tournament’s inaugural function on November 2, 4:00 pm at DDSC Stadium.
The Superintendent in a notification stated that only the vehicle of the Chief Minister and the chief guest will be allowed inside the stadium. Parking arrangements for the pilot/escort vehicles of the CM and chief guest have been allotted near the vehicular entrance gate.
It also stated that the parking space for VIP or Senior Officials’ vehicles have been reserved outside the stadium, which starts from the vehicular entrance gate to Ajay petrol pump.
Meanwhile, the parking space along the Golaghat road starting from North East Gate has been reserved for vehicles ferrying officials and participants of the said tournament.
For public, the vehicles may be parked at the premises of the Tenyimi Union’s office, behind Tragopan Hotel during the inaugural function, adding to that the Tata parking area will also be cleared for parking vehicles, the note stated.
It also informed that the flow of traffic will be regulated from New Field Check Gate from 2:00 pm till the conclusion of the inaugural function.
Moreover, unauthorized parking of heavy and medium vehicles, including 207 Tata Mobile vehicles will not be allowed along the NH 39, extending from Hollotoli School to Tragopan traffic point and the main road extending from Tragopan Point to City Tower, it stated.
Sourcemorungexpress.com
Aggreko eases production distruption for Tata Chemicals
The challenge for the customerTata Chemicals, a division of TATA Group and India's leading producer of inorganic fertilizer and soda ash faced disruption to production at its facility in Gujarat following a fire which severely damaged the company's power generation facility. The company faced possiblity of significant financial losses through lost production.
Aggreko’s solutionAggreko quickly mobilized a complete power package comprising 6 MW generators plus transformer, fuel tanks in addition to engineers provding 24/7 service. Aggreko power supplied baseload power to maintain essential production services for TATA Chemicals whilst the power generation facilities were restored.
The benefits to the customerThanks to Aggreko’s quick mobilisation and installation the plant was able to continue its operation.
Sourceaggreko.in
Gas Turbine-Based Plants Utilizing Fuels Other Than Natural Gas
While natural gas and light oil distillates are the preferred standard fuels for gas turbines, many other fuels have been used successfully. Such fuels include: low Btu gases; ash-forming fuel oils (such as crude oils and heavy oils), naphtha, condensates and gases from iron and steel industries. These fuels are often available in developing countries when higher quality fuels are not. Market Demand Due to the variety of application, reliable statistics on the extent of non-natural gas fired turbines in operation are not available.
Up to 25% of the gas turbine output (in MWs) to be built in the next 10 years could use non natural gas fuels. Naphtha and condensates are expected to be the dominant fuels in this category with a few thousand MW of new capacity being added every year.
Design and operation of these plants requires more attention than natural gas fired plants particularly in relation to fuel properties such as calorific content, density, chemical composition including concentration of contaminants, as well as different combustion behavior (e.g. ignitability, flame velocity and stability) and plant emissions. Technological adaptation and additional equipment and operational requirements are necessary to cope with these difficult fuel properties. These include GT layout ( compressor and turbine) for the changed mass flows, different burner technology (burner design and burner nozzles), additional start up/ shutdown fuel system and safety measures. Performance, availability and operation & maintenance (O&M) expenses will be affected.
Sourceturbineonline.com
Up to 25% of the gas turbine output (in MWs) to be built in the next 10 years could use non natural gas fuels. Naphtha and condensates are expected to be the dominant fuels in this category with a few thousand MW of new capacity being added every year.
Design and operation of these plants requires more attention than natural gas fired plants particularly in relation to fuel properties such as calorific content, density, chemical composition including concentration of contaminants, as well as different combustion behavior (e.g. ignitability, flame velocity and stability) and plant emissions. Technological adaptation and additional equipment and operational requirements are necessary to cope with these difficult fuel properties. These include GT layout ( compressor and turbine) for the changed mass flows, different burner technology (burner design and burner nozzles), additional start up/ shutdown fuel system and safety measures. Performance, availability and operation & maintenance (O&M) expenses will be affected.
Sourceturbineonline.com
Tata Power aqcuires stake in Indonesian company
India’s largest private power utility company, Tata Power Company Limited, has signed definitive agreements to purchase 30% equity stakes in two major thermal coal producers in Indonesia. The companies are PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia and the package includes a related trading company –all owned PT Bumi Resources Tbk.
For its part Tata Power has signed an off-take agreement with KPC that entitles the former to purchase about 10 million tonnes of coal per annum, linked to the purchase deal. This deal is logistically useful for Tata Power to leverage their upcoming power projects in the West Coast of India consisting of 7,000 MW to be developed over the next 5 years, and requiring approximately 21 million tonnes of imported coal that Tata Power intends to secure through a combination of purchasing equity shares in coal mines besides entering in to of-take agreements.
Sourceindiaproperty.com
Israel eyes Indian rocket launchers.
India’s defence technology expertise is finally making a mark in the global platform. Israeli Military Industries (IMI), a Tel Aviv-based manufacturer of weapon systems, is planning to use India’s rocket launcher technology to upgrade and replace its existing American systems.
The Tatas, who had teamed up with the Defence Research and Development Organisation (DRDO), to make Pinaka rocket launchers could also become part of the joint production team for the Israeli weapons contract. Pinaka is mainly used to destroy enemy troop concentration areas and communication centres in air terminal complexes. Pinaka was the first defence contract given to private companies in India. The strategic electronics division of Tata Power is manufacturing Pinaka launchers along with Larsen & Toubro.
Recently, two Tata group companies--Tata Power and Tata Advanced Systems--had signed agreements with Rafael and Israel Aviation Industries to manufacture a wide range of defence products.
The Israeli contract could soon make its way into India as the DRDO and IMI have completed several rounds of discussions. Senior executives from companies like the Tatas were also part of the exercise. “We have made a demonstration to IMI,” said a source close to the DRDO. When contacted, DRDO officials in charge of missile programmes declined to comment. A Tata Power spokesperson also declined to comment.
The size of the overseas contract could be in the range of Rs 400-500 crore while the Pinaka contract was only for Rs 200 crore.
Sourcedefence.pk
Tatas, Rafael in manufacture and maintenance deal for 5th generation air defence systems
New Delhi: Israeli armaments major Rafael, is set to sign an agreement with Tata Power for parts manufacture and maintenance of air defence systems (ADS), which the company expects to supply to the Indian Air Force as part of a Rs4,500 crore deal aimed at phasing out decades-old, Russian supplied surface to air missile (SAM) systems.
Rafael, which has been asked to supply quick reaction surface-to-air and air-to-air Python-5 and Derby ADS to the Indian Armed Forces, will sign the production transfer programme agreement with Tata Power this fiscal.
The Israeli missiles, which are capable of targeting low-flying enemy aircraft, will replace the IAF's ageing Russian SAM-6 and 7 missile systems. The Israeli systems will be used in tandem with the indigenously developed Akash SAM system, which have recently been cleared for induction by the Indian Air Force.
''Under the proposed agreement, Tata Power will manufacture some parts of the air defence systems and do the maintenance work post delivery,'' Rafael's director for air-to-air and air defence systems, Oron Oriol said.
Each unit of the air defence systems consists of a command and control vehicle fitted with radar, along with four batteries equipped with four missiles and support units to supply and service the vehicle.
''This is a unique and advanced air defence system and India can make good use of it,'' Oriol said. ''We expect to sign the deal very soon, hopefully before March 31.''
The deal was cleared by the Cabinet committee on security last month and is expected to cost Rs 4,500 crore.
The fifth generation surface-to-air and air-to-air Python-5 missile can be launched for very short as well as beyond-visual range interceptions. It has greater kill probability and excellent resistance to countermeasures irrespective of evasive target manoeuvres or deployment of countermeasures.
The Python-5's unique full sphere performance is achieved by a combination of lock-on-after-launch and excellent acquisition and tracking capabilities.
Its dual waveband focal plane array seeker and sophisticated algorithms enable acquisition of even small, low signature targets in look-down, adverse background and cloudy environments.
Derby is an active radar surface-to-air and air-to-air missile. It's operational flexibility and multi-shot capability enables use during the day or night and in all-weather conditions.
Together, the Python-5 and Derby offer superior fighting capabilities that ensure outstanding air superiority in 21st century warfare.
Sourcedomain-b.com
POWER Switching To Choice
The Maharashtra Electricity Regulatory Commission’s (MERC) clarification that consumers across Mumbai can switch over to Tata Power Company (TPC), whose power costs 13-14 per cent less than Reliance Infrastructure, may have come as a shock for the Anil Ambani group company. But analysts say that MERC’s remark has only reiterated the Supreme Court ruling that backed the ‘Open Access’ system, which allows consumers to choose their supplier.
In 2008, BSES (later Reliance Energy) had fought in the Supreme Court and lost against TPC’s bid to supply power to consumers in the BSES licence area. The court, ruling on a petition filed in 1998, observed that TPC could distribute power directly to bulk and retail customers.
Despite constraints like higher “wheeling charges” to Reliance, and fresh investments in a distribution network, TPC had begun supplies in a limited manner, which now would get a push from consumers.
This will make Mumbai the only place where open access is operational in letter and spirit.
Girish Mahalingam, associate director of Fitch India, says open access brings in higher competition and sectoral efficiencies. Despite the fact that open access was envisaged way back in 2003 by the Electricity Act, its implementation has been tardy due to vested interests from state electricity boards, which imposed exorbitant cross-subsidy surcharge — the fee for switching over. The Centre may now amend Section 11 of the Electricity Act 2003 that would bring uniformity on these counts and, hopefully, openness in access too.
Sourcebusinessworld.in
In 2008, BSES (later Reliance Energy) had fought in the Supreme Court and lost against TPC’s bid to supply power to consumers in the BSES licence area. The court, ruling on a petition filed in 1998, observed that TPC could distribute power directly to bulk and retail customers.
Despite constraints like higher “wheeling charges” to Reliance, and fresh investments in a distribution network, TPC had begun supplies in a limited manner, which now would get a push from consumers.
This will make Mumbai the only place where open access is operational in letter and spirit.
Girish Mahalingam, associate director of Fitch India, says open access brings in higher competition and sectoral efficiencies. Despite the fact that open access was envisaged way back in 2003 by the Electricity Act, its implementation has been tardy due to vested interests from state electricity boards, which imposed exorbitant cross-subsidy surcharge — the fee for switching over. The Centre may now amend Section 11 of the Electricity Act 2003 that would bring uniformity on these counts and, hopefully, openness in access too.
Sourcebusinessworld.in
Tata Power said that it was stopping power supply after March as Reliance Infra has not entered into any power purchase agreement (PPA) with it
Mumbai: Reliance Infrastructure Ltd (R-Infra), under flak after it recently hiked electricity charges, received a setback on Thursday with Tata Power Co. Ltd deciding to stop supply of 500MW of power to it beyond 31 March.
Tata Power said that it was stopping power supply after March as Reliance Infra has not entered into any power purchase agreement (PPA) with it. Currently, Tata Power supplies electricity of up to 500MW to Reliance Infra without a PPA.
Snapping ties: A file pic of Tata Power plant in Mumbai. The firm supplies electricity of up to 500MW to R-Infra without a PPA. Santosh Verma / Bloomberg
Tata Power has asked Reliance Infra to make alternative arrangements for power beyond 31 March, a company official said.
The company is continuing to supply power to the Anil Ambani-controlled company so that no inconvenience is caused to the citizens of Mumbai, the official said.
Tata Power has traditionally been supplying power to the erstwhile Brihanmumbai Suburban Electric Supply, now run by Reliance Infra.
Tata Power was under no obligation to supply power to any entity without a PPA, its official added.
Under the Electricity Act of 2003, it is mandatory for a distribution licensee to sign a PPA with a generation company so that the interests of consumers are protected, the official said.
The official claimed that Tata Power’s stand was upheld by the Supreme Court on 6 May and said that Reliance Infra had no legal right to insist on getting supply of electricity from Tata Power.
Sourcelivemint.com
Should India Go Nuclear for Energy Solution
Nuclear power plants perhaps can provide solutions to India’s horrible power shortages and outages too. With the US assistance envisaged in recent Indo-US joint statement India plans to take its nuclear power generation capability closer to the goal of 20,000 MW by 2020.
The high cost of nuclear power may be one deterrent for its choice or preference. In 80s and 90s many nuclear power projects even in US got cancelled or deferred because of the financial realities rather than environmentalists’ protests. However, many things have changed over the last two decades. With design standardization and modular assembly of reactors, construction periods have shrunk and might shrink further with further improvements through new researches in technologies and management practices. Nuclear plants still involve high capital investment, at 60 per cent of the total plant cost. However, the oil crisis is forcing all the developed countries to revisit the nuclear technology and through researches such as fusion power and breeder reactors.
A new pragmatic approach for the over all cost is making nuclear power a viable alternative with low interest rates and high oil prices more due to uncertainty of political chaos. A steady improvement in capacity factors is also reducing per unit cost of energy. The basic recurring cost of fuels and its impending price escalation and availability tilt the preference for nuclear plants as a serious contender.
A nuclear plant may be having better viability with respect to coal -based plant, if it located at more than 1,000-1,200 km away from coal deposits. It is surprising and many may not be knowing that despite substantive coal reserves (though of low quality coal), India today imports nearly 10 million tonnes of coal annually and this figure could increase eightfold by 2012! Coal can’t remain the source of energy for a long time in India.
However, coal still serves as a primary energy source for 55 per cent of energy generation. Another deterrent of coal-based plant is its adverse environmental impact. Compared to 35 tonnes of spent fuel discharged annually as waste by a 100 MW nuclear plant, a similar capacity coal plant annually emits 6.5 million tonnes of carbon dioxide alone.
Will India increase its contribution to the world’s carbon dioxide emission? With coal-based plant if India tries to meet the increase in per capita electricity consumption, India’s contribution to the world’s carbon dioxide emissions would increase between 2020-50 to a whopping 30-35 per cent.
Eco-friendly thermal units, such as the integrated gasification and combined cycle power project may provide an alternative way out. But the cost implication will be tremendous. In order to increase the efficiency of coal-based plants even by 1 per cent, an additional five million tonnes of coal would be required.
With increasing prices of oil and with 70% import dependence, oil can’t be thought an alternative. When the price of oil is above $28 a barrel, then its economic advantage declines. The present price ranges around $60 a barrel.
Natural gas could have been a solution, but its economics becomes doubtful with limited domestic availability, and the need for long-distance transportation.
Nuclear plants may have the disadvantages of cost related to waste management and plant decommissioning at the end of its life cycle
Interestingly, the high cost for the disposal of waste from the coal plants, is not properly included in that of the power plant, even though the waste generated is several times more. A study conducted in Europe that estimated that the inclusion of health and environment costs would double the EU price of electricity from coal and increase by 30 per cent that from gas is an eye-opener.
India has now 234 reactor years of operational experience. India must encourage the initiatives of nuclear power generation plants even by private enterprises such as Reliance Power and Tata Power. Our own technologies as well as all possible collaborations for high-tech nuclear power generation will be essential to solve our perennial power shortage problem without which India can’t hope to achieve its desired growth. And our research institutes must work for cutting down the cost and make the technology as safe as possible to wipe out the negative perception about these nuclear plants in public mind.
Simultaneously, the country must carry on its drive for other renewable energy sources such as solar, wind, and biomass too. Hydroelectric power is the cheapest- roughly one-fifth to one-eighth in the cost. Fortunately, India has huge river networks that can easily be exploited but for the problem created by the environmentalists and human rights groups, some times for vested interests. I still remember that in IIT, Kharagpur, we had a huge pilot plant to produce gasoline fuel from coals that was procured from Soviet Russia in those days. I don’t know if the plant still exists and whether the institute conducted any worthwhile research. It is unfortunate that all our institutes of importance are giving too much importance to IT related studies only and all these areas of real hardware researches are getting neglected.
Sourcedrishtikona.com
Tata Power signs deal with two Indonesian coal companies
MUMBAI: Tata Power Company, India's largest private power utility, announced on Saturday that it has signed definitive agreements to purchase 30 per cent equity stakes in two major Indonesian thermal coal producers, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia (Arutmin), and a related trading company owned by PT Bumi Resources Tbk (Bumi).
As part of the purchase, Tata Power has signed an Offtake Agreement with KPC which entitles it to purchase about 10 million tonnes of coal per annum, stated a press release issued here by Tata Power.
Tata Power will be paying a consideration of $1.1 billion for this purchase prior to working capital and other adjustments.
The acquisition will be made through an offshore Special Purpose Vehicle (SPV) to be formed. Funding will be done through a combination of debt in the SPV and internal accruals and borrowing from Tata Power.
This purchase supports Tata Power's upcoming power projects on the west coast of India comprising 7,000 MW to be developed over the next five years. These projects will require 21 million tonnes of imported coal which Tata Power intends to secure through a combination of purchasing equity stakes in coal mines and entering into offtake contracts.
The coal companies, are together among the top three largest exporting thermal coal mines in the world. They have excellent coal export infrastructure and are strategically well placed to act as a source of supply for increasing regional demand, according to the release.
Together, KPC and Arutmin produced 53.5 million tonnes of coal in 2006 with over 95 per cent sold into the export market.
Prasad R. Menon, Managing Director, Tata Power said, "This move not only secures our fuel requirements in light of the aggressive growth plans charted out by the company but also opens up opportunities for Tata Power to own and operate a range of world class, competitive and profitable electricity and energy businesses in India and overseas. The acquisition specifically addresses fuel requirements for Mundra UMPP, Trombay and the coastal power project in Maharashtra, and is complementary and supports the assumptions made in the bid for Mundra UMPP".
Macquarie acted as exclusive adviser to Tata Power in relation to the purchase.
Sourcehindu.com
Tata Power: Buy
The Tata Power stock has declined sharply in the ongoing market correction. The stock has shed 40 per cent from the peak registered in early January which is in tune with the erosion suffered by the benchmark Sensex over the same period. At the current price of Rs 975, the stock appears attractive for investments with a long-term perspective. The current price represents a 22 per cent fall since our recommendation to book profits in the stock in mid-November 2007.
Of all the power generation companies now implementing projects, Tata Power is placed best in terms of revenue visibility over the medium-term. Financing and fuel have been tied up already for over half the projected capacity addition in the next five years while its subsidiaries in transmission and distribution are beginning to contribute handsomely to the consolidated financial picture.
Financial returns from the investment in two Indonesian coal mining companies has started flowing in even as implementation of the 4,000 MW Mundra ultra mega power project is on schedule. Investors would do well to acquire the stock in small lots taking advantage of price weaknesses caused by broad market factors.
Expansion on schedule
The next five years will see Tata Power adding more than 10,000 MW to its existing capacity of a little under 2,500 MW. While the Mundra ultra mega project will contribute 4,000 MW, there are other big capacity projects such as the 1,050 MW Maithon and the 2,400 MW Coastal Maharashtra projects.
The company is well on track to commission the Mundra project by 2012, two years ahead of the committed date in 2014. While financing was tied up in April, orders for boilers, turbines and other equipment that have a long lead time have already been placed and civil construction has commenced at the project site.
While fuel will come from the Indonesian acquisitions, Tata Power has also tied up the logistics by setting up a shipping subsidiary in Singapore which will take care of the transportation of coal from Indonesia to Mundra.
Meanwhile, funding for the Maithon project, which is a 74:26 joint venture with Damodar Valley Corporation, has been tied up as also the coal supply. The project is on schedule for a 2011 commissioning. In the current fiscal, Tata Power will be adding about 600 MW of fresh capacity mainly at Jamshedpur (120 MW, 74:26 joint venture with Tata Steel), Trombay (Unit 8, 250 MW) and Haldia (120 MW). The full impact of the cash flows from these projects will be felt from 2009-10. Projects adding up to another 5,670 MW are at advanced stages of finalisation.
With funding, fuel and customers tied up for more than 5,000 MW of projects under implementation, visibility in revenues and earnings is high.
Subsidiary strengths
Two of Tata Power’s subsidiaries — Powerlinks Transmission, the 51:49 joint venture with Power Grid Corporation that operates the transmission line from the Tala hydroelectric project in Bhutan and North Delhi Power Ltd., the 51:49 joint venture with Delhi Vidyut Praday Nigam which is a distribution licensee in Delhi — have begun to contribute significantly to the consolidated financials.
In 2007-08, North Delhi Power’s post-tax earnings rose by 52 per cent to Rs 282 crore while revenues increased by 11 per cent to Rs 2,287 crore.
The company earned a hefty Rs 53 crore incentive by reducing aggregate technical and commercial losses in its licence area to 18.4 per cent, which is considerably lower than what was mandated. Similarly, Powerlinks turned in a net profit of Rs 58 crore on revenues of Rs 245 crore in 2007-08.
The two Indonesian coal companies chipped in with a handy dividend of more than Rs 300 crore ($75 million); they contributed about 17 per cent to the consolidated post-tax earnings.
The dividends will be useful to service the large debt incurred for the acquisition. Given the rising prices of thermal coal, Tata Power stands to gain significantly from its investment in the Indonesian companies financially.
Tripwire
The downside to our recommendation stems from possible delays in commissioning the projects that are under implementation and on the drawing board. Project schedules could go haywire if there is a delay in delivery of critical equipment, which is something not in the control of the company.
There is also the risk that given the rising interest cost regime worldwide, Tata Power will have to service costlier loans. About Rs 18,000 crore of the total capital requirement of Rs 24,000 crore over the next five years will be funded by debt, domestic and overseas.
The company may be forced to contract loans at a higher rate than what it had bargained for, leading to pressure on cash flows, especially in projects that will operate on a merchant basis.
Sourcethehindubusinessline.com
Sell Tata Power: VK Sharma
Stock market analyst VK Sharma has maintained ‘Sell’ rating on Tata Power stock to achieve a target of Rs 1040 in today’s session.
The investors are advised to sell the stock to avoid loss, as there are full chances of a downward trend in this stock the coming days
If the stock fell below Rs 1025, it may see more weakness.
According to Mr. Sharma, investors can sell the stock around Rs 1110 with a strict stop loss of Rs 1127.
After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.
Shares of the company, on Monday (June 22), closed at Rs 1107.40, down Rs 56.95, as against its last closure of Rs 1164.35 on the Bombay Stock Exchange (BSE) on Friday on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 53766.
Current EPS and P/E stood at 43.69 and 25.35 respectively. The share price has seen a 52-week high of Rs 1247.80 and a low of Rs 531.50 on BSE.
According to reports, Tata Power has decided to set up gas based power facilities and is making discussions with nationalized gas transporter GAIL India Limited.
Mr. S Padmanabhan executive director of TATA Power said, “We are looking at gas-based plants. We have a plan of having 25% of our total power supply from clean energy sources by 2017.”
Tata Power has posted an increase of 6% in its quarterly net profit, which stood at Rs 922.20 crore for the twelve month period ended March 31, 2009.
The company’s directors announced a dividend of Rs 11.50 a share as against Rs 10.50 a share during the previous year. It recorded revenues of Rs 7,236.23 crore as against Rs 5,915.91 crore during the last year.
In contrast, the consolidated revenues of the company surged by 61.48% to Rs. 17,587.53 crore as compared to Rs Rs 10,890.86 crore during the previous year. After “statutory appropriations”, the company’s consolidated net profit for the year was Rs 1,264.04 crore.
Moreover, Tata Power has decided to spend a capex of Rs 2,500 crore by 2012 on its projects in different parts of the country.
Sourcetopnews.in
Eco-clearance for Tata Chemicals expansion
The ministry of environment and forests has cleared Tata Chemicals' expansion project at its Babrala fertiliser plant in Budaun district of Uttar Pradesh. The company, a leading manufacturer of chemicals, fertilisers and food additives, is setting up a customised 20-tph NPK plant on 0.8035 hectares within its existing urea complex. The estimated cost of this project is Rs 54.78 crore.
Earlier this month, Tata Chemicals commissioned the de-bottlenecking of the Babrala facility and dedicated it to Tata group founder, Jamshetji Tata on the occasion of Founders' Day.
The project, which was completed in a record 18 months with an investment of Rs 208 crore, is aimed at fine tuning and enhancing production capacity from 8,64,600 tpa to 11,55,000 tpa. Post-de-bottlenecking, the production of ammonia will go up from 1,520 tpd to 2,000 tpd and that of urea from 2,620 tpd to 3,500 tpd.
Tata Chemicals commissioned its fertiliser division at Babrala in Badaun district of Uttar Pradesh in December 1994. The complex manufactures nearly 12 per cent of the total urea produced by the country's private sector, as well as ammonia. The company claims that the Babrala plant is considered to be one of the "best industrial facilities" in India and the "most energy efficient" among all Topsoe plants globally. It is also the only fertiliser complex in the country to use a dual feedstock facility: natural gas or naphtha, or a combination of both
Sourceprojectsmonitor.com
Cleartrip, Tata AIG General tie-up to offer travel insurance
Tata AIG General Insurance to offer domestic travel insurance solutions to its customers. Called ‘Travlnsure,’ the product can be purchased by customers through a simple tick while making their domestic airline bookings.
Travlnsure covers Cleartrip travellers against flight delays, medical expenses incurred while travelling, lost baggage and flight cancellations due to sickness, injury or death, a press release issued here stated.
The Travlnsure policy will cover damages ranging from Rs 1,500 to Rs 7,50,000.
The policy can be bought online for just Rs 129 per round trip and is valid for the duration of a round trip cross-sector travel or 30 days from the date of booking.
Cleartrip’s vice-president, Marketing, Noel Swain, said that “at Cleartrip, we always try to add more value to the services we offer to our customers. This initiative will ensure that travellers feel safe and secure while using our services.”
Tata AIG General Insurance’s Managing Director, Gaurav D Garg, said that “as modern India takes to the skies, it is becoming increasingly important to offer greater value to customers.
With this partnership, Tata AIG General has consolidated dominance in the space of domestic travel insurance in addition to leadership in overseas travel insurance.”
Sourcetoday.com
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