** ** *INFRASTRUCTURE*
** ** *Power producers oppose terms of fuel supply agreements with CIL*** **· **Two days after Coal India Ltd (CIL), the world’s largest coal producer, entered into fuel supply agreements (FSAs) with 27 power companies, some power producers, including Maharashtra State Power Generation Co Ltd (Mahagenco), on Wednesday raised objections against some terms of the pacts.**** **· **Mahagenco, one of the largest power producers in the country, has sent a communication to CIL, demanding some provisions in the FSA, mainly the penalty clause, be revisited. *The company further said the draft FSA, in its present format, took care of only CIL’s interests.* **· **The government had issued a presidential directive to CIL in April to sign FSAs with the power producers, assuring them of at least 80% of the committed coal delivery.**** *UP buying power worth Rs 7 cr daily***** **· **The Uttar Pradesh Government on Wednsday said that it was buying power worth up to Rs 7 crore a day to meet the State’s requirements.There have been power cuts in the Taj Mahal premises in Agra also to shed the load over the national grid. The Government was serious about maintaining regular power supply to the heritage structure and directives had been issued to install inverters.**** *RInfra opens disaster control room* **· **Reliance Infrastructure (RInfra), the largest power distributor in Mumbai suburbs, has opened a ‘central disaster control room’ (CDCR) in Aarey Colony. The CDCR is equipped to handle emergencies during the rains and ensure seamless communication and coordination with various utilities and government authorities. RInfra has also established a hotline between its disaster control room and the control room of the Municipal Corporation of Greater Mumbai.**** *Banks to pare exposure to SEBs; REC & PFC asked to share load* **· **Public sector banks will limit their exposure to loss-making state electricity boards (SEBs) by sharply cutting the amount of short-term loans extended to these entities for meeting their daily expenses and repayment of interest.**** **· **As per a debt restructuring package finalised by the Prime Minister’s Office (PMO) for SEBs and distribution utilities, banks would be required to meet only 50% of the short-term loans required by these entities while the balance would have to be funded by state-owned Rural Electrification Corporation (REC) and Power Finance Corporation (PFC).**** **· **Banks are reluctant to extend fresh loans to discoms (distribution companies) fearing that it would add to their non-performing assets (NPAs). The finance ministry was also not keen on allowing additional exposure of banks in this risky sector. It has, therefore, been decided to divide the responsibility between banks and NBFCs.**** *CAPITAL GOODS*** *L&T-Tata-HCL in ~10k-crdefence deal race***** **· **In a long-anticipated move towards unleashing the abilities of India’s private sector in equipping the military, the ministry of defence (MoD) has chosen a private sector consortium to compete with Bharat Electronics Ltd (BEL), the public sector giant, to develop a backbone communications network for the 21st century battlefield. The project is worth an estimated ~10,000 crore.**** **· **Called the Tactical Communications System (TCS), this network will be created simultaneously by two Indian ‘development agencies’, or DAs. Besides BEL, the MoD’s traditional go-to shop for electronics and communications, South Block has selected a private sector consortium of Larsen & Toubro, Tata Power (Special Electronics Division) and HCL. The MoD today informed the two DAs in writing about their selection.**** **· **The two DAs will now take about six months to prepare a Detailed Project Report (DPR). This will define every system, sub-system, and capability of the TCS network. After studying the DPR, the MoD will estimate the cost of developing a TCS prototype. Industry sources say a working TCS prototype for an army division (15,000 troops) could cost about ~300 crore. MoD will fund 80 per cent of this cost; the vendors will pay 20 per cent.**** **· **The distribution of stakes in the SPC are: L&T, 56.67 per cent; Tata Power (SED), 33.33 per cent; and HCL 10 per cent.**** *CONSUMER DURABLES*** *Havells expands Crabtree range of switches* * * **· **Crabtree, a well-known global brand for premium range of switches, plans to expand its product portfolio here to address a wide range of consumer needs and strengthen its market presence. Crabtree is a UK-based brand and its India rights are owned by Havells India Ltd. The company today launched a new range of switchgear – Crabtree Xpro – including miniature circuit breakers, distribution boards, residual current circuit breakers and a range of time switches.**** ** ** **· **Manufactured at the company’s facility at Baddi in Himachal Pradesh, these switches come with a 10-year warranty. Currently, the Crabtree range of modular switches contributes around Rs 200 crore to the company’s overall turnover. “With the addition of the Xpro range of switchgears and many to come, we expect its contribution to go up to Rs 500 crore in the next three years.**** ** ** **· **Apart from Crabtree, Havells owns various electrical goods brands such as Sylvania, Concord, Luminance and Standard. For the year ended March 31, 2012, the company posted a net profit of Rs 370 crore on a turnover of Rs 6,500 crore.**** ** ** *Sony India gets new MD* ** ** **· **Sony India has announced Mr Kenichiro Hibi as its new Managing Director with effect from July 1, 2012. Mr Hibi has replaced Mr Masaru Tamagawa, who will move on to the position of President, Sony Europe. With 23 years of experience in Sony alone, Mr Hibi was the Managing Director, CIS for six years before becoming the India head.**** ** ** *FDI in multi-brand retail to benefit farmers: Basu* **· **Chief Economic Adviser Kaushik Basu has favored opening up of multi-brand retail sector and said the move would help in improving farmers condition and boost India’s exports. This is (allowing FDI in multi-brand retail) actually more than just a small change. It can improve the condition for our farmers, increase India’s exports. Opening retail sector to international multinational corporations, would be an important policy reform.**** ** ** ** ** ** ** Regards,**** ** ** Team Microsec Research**** ** ** [image: Microsec]**** ** ** * * *Microsec Capital Limited*** Tel: 91 33 30512100**** Fax: 91 33 30512020**** -- CA. Rajesh Desai -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
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