All expansion programmes of Hindalco Industries, the flagship company of the Aditya Birla group, are on track and won’t be scaled down.
Jewellery companies in India are looking at securitising their international receivables to avail of lower interest costs overseas at a time when Indian banks have restricted lending to most sectors.
Crompton Greaves, Tata Steel, Hindalco feel the heat of slowdown in the US, Europe.
The move is aimed at prompting other suppliers to stay away from projects backed by defaulting companies.
Vinod Sethi is a frequent visitor to Mumbai. A partner of Sethi Capital, a New York-based private equity firm, he is also the former MD of Morgan Stanley Dean Whitter and is credited with setting up its business in India.
Suzlon Energy is exploring possibilities of selling part of its promoters’ stake in its unlisted Indian units to private equity firms, to raise money for buying Martifer’s equity stake in REpower.
Novelis, the aluminium giant acquired by Hindalco Industries, is exploring options to rationalise production and cut jobs due to weak demand in large user-industries such as construction and automotive.
RBI could consider this option if dollar liquidity dries up in global money mkts.Stocks: BSE Losers A, B | NSE Losers | 52 Wk: High, Low I More on Forex
NMDC announced up to 40% provisional hike in iron ore prices for its long-term contracts in the domestic market in April. The hike came even as prices of the input fell sharply to about $65 to $72 per tonne, from $200.
The global decline in commodity prices may benefit consumers in the short run, but a prolonged slump will not benefit anyone.
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