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    Sectoral SnippetsIndia Industry Information

    Issue 38 - December 2009

    KPMG IN INDIA

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    Page 2 of 19

    Sectoral Snippets

    About Sectoral Snippets

    Sectoral Snippets is an India-focused, monthly, freely-distributable newsletter brought out by

    KPMG in India. This newsletter provides an overview of the Indian economy in the form of

    news-briefs from across key sectors.

    Contact [email protected] if you are interested in receiving this newsletter on a

    regular basis, or wish to unsubscribe.

    Table of Contents

    1. Indian Economy 3

    2. Auto and Auto Components 4

    3. Banking and Financial Services 5

    4. Consumer Markets and Retail 6

    5. Hospitality 7

    6. IT / ITeS 8

    7. Media 9

    8. Oil and Gas 10

    9. Pharma 11

    10. Power 12

    11. Real Estate and SEZs 13

    12. Telecom 14

    13. Transport and Logistics 15

    ectoral Snippets, Issue 38

    2009drawstoaclose,alleyesarenowon

    esustainabilityofthestimulus-supported

    owthoftheIndianeconomyintheyearahead.

    epastyearwitnessedsomerelativelyrobust

    rformancesinindustryandservicesectors,

    reasedgovernmentexpenditure,modestfarm

    owth,andstronginvestments.However,rising

    lation,hikedinterestratesandthestrengthof

    erupeeagainsttheUSdollararealltriggers

    hichcouldplayakeyroleindetermining

    hetherthegovernmentplacesinflation

    ntainmentoreconomicgrowthontopofits

    enda,goingforward.

    otherdevelopments,IndianPMManmohan

    nghrecentlywrappedupavisittoRussia

    ringwhichthetwocountriessignedsix

    cuments,twoofwhichpertaintocivilnuclear

    ddefensecooperation,furtherconsolidating

    ecountriesstrategicandbilateralrelations.

    stwishesthroughtheholidayseasonandfor

    10.

    gards,

    ssell

    Russell Parera

    Chief Executive Officer

    KPMG in India

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

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    Assomepartsoftheworldreboundfromthedownturn,Indiaissaidtobeoneof

    thecountriesleadingtheglobalrecoveryrally.Indiaseconomygrewby7.9

    percentintheSeptemberquarter,acceleratingfromthe6.1percentrecordedintheprecedingquarter.Companiesintheregionarelikelytowitnesssignificant

    improvementintheirpositionbyearlynextyear.Accordingtoanalysts,thiscan

    beattributedtoaboostindomesticdemandandprivateinvestment,withthe

    growthintheIndexofIndustrialProduction(IIP)expectedtocontinue.

    AlargeportionofthisgrowthwasfueledbyGovernmentstimuluspackagesand

    acutinkeypolicyrates.However,theReserveBankofIndiaisnowindicatinga

    shifttowardsatightermonetarypolicyregimethrougharecentincreasein

    statutoryliquidityratioandwindingupsomere-financingfacilities.The

    Governmentwouldstillpursueitsfocusoneconomicreforms,especiallythose

    aimedtobringthedeficitundercontrolwhileensuringstrongexpansionin

    investmentininfrastructure.

    Intunewithindustrialgrowth,theIndiancapitalmarketshavealsoshown

    positivesignsofrevival.TherecentDubaidebtcrisisisexpectedtohaveminimal

    directimpactontheIndianmarketinthelongterm.Accordingtoanalysts,this

    endurancecanlargelybeattributedto:

    1)Theamountinvolvedbeingrelativelysmall

    2)TheexposureoftheIndianbankingsystemtotheDubaifinancialsystemfrom

    thepointofviewofdirectforeigninvestmentorFIIislimited

    Despitegoodperformanceinafewkeyareasforgrowth,expertspredictthat

    agriculturalGDPandacontinuousdeclineinexportssinceSeptember2008are

    likelytoposeconcerns.Agriculturaloutputmightcontractsharplyinthelast

    quarteroftheyear2009-2010asaresultofbadmonsoons.Also,spawningfrom

    shortfallsinagriculturaloutput,theeconomyisexpectedtowitnessarisein

    inflation,bothforretailandwholesaleprices,withfiguresforbothtotouch7

    percentin2012.

    Asasteptowardsdilutingtheimpactofbadmonsoons,theGovernmentis

    focusingoninnovationinagriculture.Otherpriorityareasfornextyearinclude

    bringingbackeconomicgrowthtoitsprevioushighsof9percentperannum,

    throughcontinuedeffortstomaintainthegrowthindomesticdemandand

    achievesubstantialincreaseininfrastructureinvestment.

    Indian Economy

    Page 3 of 19

    Analyst: Asmita Deshmukh, Nishtha Satyam2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    7.9

    6.15.85.8

    7.87.88.6

    01234567890

    March qtr

    '08

    June qtr

    '08

    Sept qtr

    '08

    Dec qtr

    '08

    Mar qtr

    '09

    Jun qtr

    '09

    Sept qtr

    '09

    dia GDP at Factor Cost

    urce:EIU,November30,2009

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    Ducati to enter Indian premium bike segment

    ItaliansportsbikemanufacturingcompanyDucatiMotorHoldingsreportedly

    openeditsfirstshowroominIndiainearlyNovember,inpartnershipwithPrecisionMotorIndiaPrivateLimited.Thecompanyisexpectedtoopensix

    moreshowroomsinothermajorIndiancities,andreportedlyaimstosellatleast

    100bikesinitsfirstyearofoperationinIndia.Therangeofbikestoberetailed

    inIndiaislikelytoreportedlybepricedbetweenUSD20,500andUSD92,000.

    Michelin to set up USD 856 million plant in Chennai

    TyremanufacturinggiantMichelinGrouphasreportedlyannouncedplanstoset

    upatruckandbusradialmanufacturingplantnearChennai,entailingan

    investmentofnearlyUSD856million.Thecompanyhasreportedlysigneda

    MemorandumofUnderstandingwiththeTamilNadugovernmenttothiseffect.

    Thefacilityisexpectedtobespreadacross290acresandprovidelocal

    employmentto1,500workers.Theplant,whichisexpectedtobeoperationalin

    2012,istofocusonsupplytotheIndianmarket.

    Apollo Tyres to hike capacity by 50 percent

    IndiantyremanufacturerApolloTyreshasreportedannouncedplanstoaugment

    productioncapacitybyover50percentinIndia.Thecompanysproduction

    capacityistoreacharound1600tonnesaday(fromitscurrentdailycapacityof

    950-1000)onceitsChennaiplantreachesterminalcapacityinthefirstquarterof

    2010.TheChennaiplantisanticipatedtobeoperationalbyearlyDecember.

    ApolloTyresreportedlyplanstosupplyhalfoftheChennaiplantsoutputtoOEMsandtheremainingtotheaftermarket.

    Toyota India in plans to set up engine manufacturing plant

    ToyotaKirloskarMotorPrivateLimitedisreportedlyinplanstosetupanengine

    andtransmissionplantinIndia.Theplantisexpectedtobebuiltatthe

    companysupcomingsecondmanufacturingfacilityinBangalore,forwhichthe

    firmhasreportedlyannouncedaninvestmentofUSD685million.Settingupof

    thisunitinIndiaisexpectedtohelpToyotaincreasethelocalizationlevelsofits

    vehiclesaswellasreducemanufacturingcosts.

    Volkswagen India to launch first SUV in India in December, Polo

    hatchback next year

    EuropeanautomajorVolkswagenAGisreportedlyoncoursetolaunchthe

    Touareg,itsfirstsportsutilityvehiclefortheIndianmarketbyearlyDecember

    thisyear.TheSUVisreportedlytobebuiltonthePorschesCayenneplatform,

    andimportedasacompletelybuiltunit(CBU).ItisexpectedthattheSUVwill

    beretailedataboveUSD64,000.

    VolkswagenhasreportedlyalsoreiterateditsintentiontolaunchtheIndian

    versionofitsinternationalbestsellinghatchbackmodel,thePolo;thecaris

    expectedtobelaunchedinIndiain2010.

    Page 4 of 19

    Auto and Auto Components

    Analyst: Ranjeet Javeri and Kudrat Puri2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    We believe that the Indian

    arket will be interesting and

    evelop faster than any other

    arketstiano Silei, Vice-President (Sales),

    cati Motor Holding

    urce: DNA India, Ducati plans to sell 100 bikes by

    c next year, November 2, 2009)

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    RBI plans to increase the timeline for NPA Provisioning

    TheReserveBankofIndia(RBI)planstogivebanksmoretimefornon-

    performingassets(NPA)provisioning,asitintendstoextendthetimelineforNPAsfromSeptember2010toMarch2011.AspertheSecondQuarterReview

    ofMonetaryPolicy2010,RBIhadannouncedthatthebanksshouldhave

    minimumprovisioncoverageof70percentforNPAsbySeptember2010,which

    waslikelytoimpacttheprofitabilityofthebanks.Theextensionmightallow

    bankstostepupgraduallytheirprovisioncoverage,therebyreducingtheimpact

    onprofits.

    AccordingtocreditratingsagencyCRISIL,outofthe35banksratedbythem,

    11bankshaveprovisioncoverageoflessthan50percentandabout16have

    provisioncoverageofbetween50percentand70percent.

    HDFC acquires Credila Financial Services

    Toforayintotheeducationloansegment,HousingDevelopmentandFinance

    Corporation(HDFC)hasacquireda41percentstakeineducationloanprovider

    CredilaFinancialServicesforaconsiderationofaroundUSD2.1million.The

    bankhasacquiredthestakefromMerrillLynch,whichwasaninitialinvestorin

    thecompany.Theacquisitionwillenablethebanktoenterintoaspecialized

    market,whichisestimatedatoverUSD6.4billion.TheIndian,educationloan

    marketisalargeopportunity,asitisgrowingatarateof25-30percentper

    year.

    PNB plans to acquire Dana BankPunjabNationalBank(PNB),oneofIndiasleadingpublicsectorbanks,is

    planningtoacquireamajoritystakeinKazakhstan-basedDanaBankfora

    considerationofaroundUSD1820millionduringthecurrentfiscalyear.The

    acquisitionwillenablePNBtoexpanditsbusinessintheoverseasmarketby

    penetratingintotheCIS(CommonwealthofIndependentStates)countries.

    PNBhasalreadyreceivedthepermissionfromReserveBankofIndia,Indias

    centralbank,approvaltosetupasubsidiaryinVancouver.Danabankhasfive

    brancheswithatotalbusinesssizeofUSD60million.

    SBI is planning to foray into wealth management businessStateBankofIndia(SBI),Indiaslargestcommercialbankbybalancesheetsize,

    isplanningtoforayintothewealthmanagementbusinessandfinancialplanning

    servicesbyleveragingitsextensivebranchnetwork.Thebankplanstotarget

    middleincomegroupandearnadditionalfeeincomethroughthebusiness.It

    planstoemployfinancialplannerstoapproachaccountholderswithoverUSD

    10,000intheiraccount.

    Page 5 of 19

    Banking and Financial Services

    Analyst: Kunal Jain and Ruchika Anand2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    11%16%

    25%

    54%

    -14%

    9%

    18%20%25%

    29%

    21%

    -11%

    12% 12%

    0%

    %

    %

    %

    %

    SCBs SBI Bank of

    Baroda

    BOI ICICI Bank HDFC Bank Axis Bank

    Credit Growth Deposit Growth

    edit to Deposit Growth in Q2 2009 10

    o-y)

    ource:CRISILResearch,QuarterlyUpdateon

    dustryPerformance,Q2200910

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    Pantaloon Retail in search of prospective acquisitions

    PantaloonRetail,oneofthelargestretailersinIndia,isinsearchforpotential

    acquisitionstodevelopitsfoodbusiness.Asreportedbythecompany,itislookingtoacquiresmallcompaniesandhasbeenindiscussionwithvarious

    companiesinthefoodbusiness.However,companyhasrefusedtoprovideany

    furtherinformationonaccountofthetalksbeingverypremature.

    Shoppers Stop sketches three year expansion plan

    ShoppersStop,oneamongstIndiaslargestorganizedretailers,hassketcheda

    threeyearexpansionplanwithanaimtoincreaseitstorecountby15withan

    investmentofapproximatelyUSD54million.Theinvestmentisexpectedtobe

    fundedthroughinternalaccruals.Thenewstoresarelikelytoaddabout1million

    squarefeetofspaceandexpandthecompanysfootprintin5newcities.The

    fivenewcitiesareexpectedtobethetier-IIciteslikeAmritsar,Ahmedabad,

    Mangalore,MysoreandVijaywada.Thecompanyisalsolookingtoopenafew

    newstoresinDelhiandMumbaiastheycumulativelyaccountforalittlemore

    than60percentofthecompanystotalsales.Thecompanyrecentlytiedupfor

    retailingwithMustang,aGermanjeanswearandlifestylebrand.

    GS Home Shopping in contract with TV18 HSN Holdings Ltd.

    GSHomeShoppingInc.,aSouthKoreanTVshoppingchannel,hasreportedly

    signedacontractwithIndiasTV18HSNHoldingsLtd.toenterintotheIndian

    market.Asperthereports,thecontractsignedentitlesGSHomeShoppingto

    buya15percentstakeintheholdingcompanyofanIndiancableTVshoppingchannelforUSD18.4million.

    Bharti Wal-Mart to open 40 new stores

    BhartiWal-Mart,anequaljointventurebetweenBhartiGroupandWal-Mart,has

    reportedtoexpanditsoperationsinIndiabyopening40newcashandcarry

    storesinthenextfewyears.Wal-MartopeneditsfirststoreinMay2009in

    AmritsarunderthenameBestPriceModernWholesaleandhadinitially

    plannedtoopen15-20storesinthreeyearsandemployaround5,000people.

    Reliance Footprints plans to open 10 stores in one yearRelianceFootprints,aconceptstorebyRelianceRetailLimited(100percent

    subsidiaryofRelianceIndustriesLimited)forfootwear,handbagsand

    accessorieshasplannedtoopen10newstoresinthefinancialyear2009-10.

    Thecompanycurrentlyoperatesthrough15storesandretailsvariousbrands.

    Thebrandedproductsaccountfor85percentofthetotalsaleswhereasthe

    balance15percentisthroughprivatelabels.Thecompanyplanstoadd15-20

    storeseveryyearforthenextthreeyearsandexpanditsoperationsin50cities.

    Page 6 of 19

    Consumer Markets and Retail

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Analyst: Rajiv Somani

    had a meeting with the Wal-

    Mart chairman. They are very

    uch satisfied with the results in

    dia. I was informed by Wal-Mart

    EO that they are looking at

    pening more stores. He gave the

    gure of 40 more across the

    ountry in immediate futureand Sharma, Commerce and Industry Chief, India

    urce: Datamonitor News and Comments, Bharti

    l-Mart to open 40 new stores in India, November

    2009)

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    Gateway Hotel to expand through management contracts

    IndianHotelshavelauncheditsthirdpropertyinRajastan(Jodhpur)underthe

    brandGatewayHotel.ItalreadyhaspresenceinJaipurandJaisalmerinRajastan.Currently,thebrandhas20propertiesinitsportfoliooutofwhich19

    havebeenmigratedfromTajGrouptothisbrandasapartofthere-branding

    strategy.Additionally,ithas13up-cominghotelprojectswhichareatvarious

    constructionstages.Allthese13propertiesarelikelytobeoperatedthrough

    themanagementcontractarrangement.TheGatewayHotelJodhpuristhefirst

    propertywhichisoperatingundermanagementcontract.Itislookingformore

    propertieswithminimumroomcapacityof150roomsforitsmanagement

    contracts.Thebrandsfocusistoexpandinthemetros,Tier-IIandTier-IIIcities.

    Oberoi expending its footprints in Middle East and SE Asian

    marketsWiththeimprovingglobaleconomicconditionsTrident(OberoiGroup)plansto

    reviveitsoverseasexpansionstrategy.TheOberoiGroupplanstoexpendits

    TridentbrandinSouthEastAsianandMiddleEastmarketsnextyear.Itisalso

    comingupwithnewTridenthotelinNorthMumbaiinDecember.Thegroup,

    whichownsmostofitshotels,isactivelylookingatmanagementcontractsfor

    itsfive-starbrand.

    Marriott aggressively expanding in India

    MarriottInternationalplanstoadd26newhotelsinIndia.Itisexpectedtoadd

    6,000roomstoitsexistinginventoryof2,000rooms.IthasplannedthelaunchofitsthreeCourtyardhotelsinNovember2009followedbythelaunchof

    anothereighthotelsin2010.Thecompanys15otherprojectsarein

    developmentstage.

    Middle East hotels Jumeirah and Rotana plan to expand in India

    MiddleEasthotelsJumeirahandRotanaareeyingtheIndianhotelmarketfor

    expansion.JumeirahseestheIndianhospitalityindustryasafuturegrowth

    market.TocontinuegrowthofitsglobalbrandpresenceRotanaisalsolooking

    tonegotiatewithpropertyownerstoestablishitsbrandinIndia.

    IHC to set up hotel in Bangalore

    IndiaHospitalityCorporationislikelytoraisefundsworthUSD212millionfor

    expansionofitshotelbusiness.ThecompanyisplanningtoexpandintierII

    cities.Itislookingforbothorganicandinorganicgrowthpathstoexpandits

    presenceinthecountry.Thecompanyhassignedanagreementtomanage10

    hotelswitharealtyfirmEntertainmentWorldDevelopersPvtLtd.Thesehotels

    areexpectedtocomeupby2011.ThefirmhasalreadyinvestedUSD4.2million

    inthehotelbusinessthroughitswholly-ownedsubsidiary,GordonHouse

    Estates.Thecompanycurrentlyoperatesitshotelchainunderthebrand

    'GordonHouse'and,hasthreehotelpropertiesinthecountry,twoinMumbai

    andoneinPune.

    Page 7 of 19

    Analyst: Pallavi Phatak

    Hospitality

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    We are seeing ARRs getting

    orrected across the country. We

    ill continue to see this trend

    uring such times. By March 2010,

    e expect occupancy to go up

    gainshay Kulkarni, Executive Director (South Asia) for

    shman and Wakefield - Hospitality

    urce: Business Standard, Bangalore may facersupply of luxury rooms, November 14, 2009)

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    HCL Technologies bags deal from UK-based Equitable Life

    Assurance Society

    HCLTechnologieshassignedamulti-yeardealworthaboutUSD200millionwithUK-basedinsurancefirmEquitableLifeAssuranceSociety(ELA).Asper

    thetermsofthedeal,HCLwouldprovidecompletesolutions,includingpolicy

    administration,finance,actuarialservices,IToperationalsupportandcallcenter

    servicestoELA.ThedealhasbeensignedwithHCLInsuranceBusiness

    Services,HCLsUK-basedlifeandpensionsadministrationbusinessarm.

    Indian ESO sector to reach USD 50 billion by 2020

    AccordingtoastudyconductedbyBooz&company,India'sEngineering

    ServicesOutsourcing(ESO)sectorislikelytoreachUSD50billionby2020,and

    generateemploymentof25-30million.Costarbitrageandavailabilityofskilled

    professionalsinthecountrymightbeamajordrivingforcebehindthisincrease.

    ThestudyfurtherstatesthathalfoftheseESOrevenuesarelikelytocome

    fromUSwhileEuropewouldcontribute40percentandtherestwouldbefrom

    Japan.

    Infosys acquires McCamish Systems

    InfosysTechnologieshasacquiredAtlanta-basedMcCamishSystemsLLC,a

    businessprocesssolutionsprovider.TheacquisitionislikelytoaddaboutUSD

    7-8millionrevenuestoInfosyssrevenuesinMarchquarter.Theupfront

    considerationforthedealisUSD38millionwithuptoanadditionalUSD20

    millionpayabletothesellersifMcCamishSystemsachievescertainfinancialtargetsinthefuture.Withthisacquisition,Infosysexpectstoenhanceits

    capabilitytodeliverend-to-endbusinesssolutionsfortheinsuranceand

    financialservicesindustriesandtocontributepositivelytostrategyofgrowing

    non-linearrevenue.Ontheotherhand,McCamishbelievesthatthemerger

    wouldenableittoservicelargerportfoliosoftransactionsforclientsandexpand

    intoglobalmarkets.Also,thedealwouldestablishInfosysasakeyplayerin

    providingbusinessplatformservices.

    Wipro opens second facility in China

    WiproLtd.,oneofthemajorsoftwareserviceprovidersinIndia,hasopenedits

    secondfacilityinChinaatChengdutoprovideITandback-officeservicestoitsglobalclients.Thisfacilityhasstartedoperationswith100staff,andthe

    companyplanstoincreasetheheadcountto1,000people.Wiproalreadyhasa

    facilityinShanghai.

    KPIT Cummins acquires Sparta Consulting

    Pune-basedITserviceproviderKPITCummins(KPIT)InfosystemsLtd,has

    acquiredSpartaConsulting(Sparta)foraboutUSD38million.Foundedin2007

    byPaulFreudenbergandLokeshSikaria,CaliforniabasedSpartaprovideshigh

    endSAPsolutions.ItmainlyoperatesinCaliforniawithaunitinIndialocatedat

    Noida.KPITbelievesthatthisacquisitionwouldstrengthenitsbusinessmodel

    tofocusonselectindustriesandachievemarketleadership.Themoveis

    expectedtoresultingreaterefficienciesandincreasedmarketshareforKPIT.

    Page 8 of 19

    Analyst: Parnika Patil

    IT / ITeS

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    The Indian offshore industry is

    rowing on the back of improving

    emand and continued

    dvantages of India as an offshore

    estination. India-centric suppliers

    re investing in delivery

    apabilities and setting up new

    entersurvey by Everest's Market Vista: Q3 2009

    urce: The Economic Times, Indian offshore industry

    w increased momentum in Q3, November 5, 2009)

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    Scripps Networks acquires controlling stake in NDTV Lifestyle

    US-basedScrippsNetworksInteractivehasacquired69percentstakeinNDTV

    GroupslifestyleprogrammingsubsidiaryNDTVLifestyle.Thetransactionisexpectedtobecompletedbytheendoffirstquarterof2010.ScrippsNetworks

    Interactiveisthelifestyle-orientedcontentdeveloperfortelevisionandthe

    Internet.NDTVGroup,inaseparatetransactionrepurchasedUSD100million

    stepupcouponbondsduein2012.ThissetsNDTVfreefromtherestrictive

    clauseandallowsthecompanytolookforinvestorsforitsdifferentverticals.

    PVR acquires DT Cinemas and dilutes 10 percent stake to Cineplex

    PVRCinemashasacquiredtheexhibitionbusinessofDTCinemasLtd,a

    subsidiaryofDLF,inacash-cum-stockdeal.Accordingtothestructureofthe

    deal,thecompanyisexpectedtopayacashcomponentofUSD4.3millionand

    allot2.55millionsharesrepresenting9.1percentofthefullydilutedpaid-up

    sharecapitalofPVRtoDTCinemas.Withthisacquisition,thetotalnumberof

    propertieswouldmoveupto28with134screensfrom24propertiesand108

    screens.

    Thecompanywouldalsodilute10percentequitystaketoCineplex,aThailand-

    basedcinemacompanyforapproximatelyUSD9million.

    Dish TV raise USD 100 million through global depository receipts

    ApolloManagement,US-basedassetmanagementfirmisplanningtoacquire

    11percentstakeinDishTV,direct-to-home(DTH)serviceprovider.DishTVis

    raisingthefundsthroughissueofglobaldepositoryreceipts(GDR)toacquirenewsubscribers.Withasubscriberbaseofapproximately6million,DishTVis

    IndiaslargestDTHoperator.

    Union Cabinet gives approval to digitize Cable TV

    UnionCabinethasgivenitsapprovalfortheHeadendintheSky(HITS)policy

    whichisaimedatdigitizingcableTVoperationsthroughoutthecountry.The

    cabinethasalsoapproved74percentForeignDirectInvestment(FDI)inthe

    HITSsegmentand49percentforcableTVoperators.However,Foreign

    InvestmentPromotionBoardsapprovalwouldberequiredforFDIover49

    percent.InformationandBroadcastministryhasfourpendingapplicationsfor

    HITSservicesandhopestheserviceproviderstoroll-outserviceswithinayear.

    Dar Capital firm is highest bidder for IPL theatrical rights

    EntertainmentandSportsDirect(ESD),promotedbyinvestmentadvisoryand

    privateequityfirmDarCapitalGroup,hasemergedasthehighestbidderwith

    USD70.4millionfortheIndianPremierLeague's(IPL)theatricalrights.Thedeal,

    from2010to2019,isexpectedtogiveESDexclusiveexhibitionrightsfor

    audiencesincinemahalls,water-bornevessels,buses,trains,hotelsandother

    publicvenues.Thereweretwobidsreceivedforthetheatricalrightstender

    fromTriplecomMediaandESD.However,ESDbidissubjecttofinalapproval

    fromtheIPLGoverningCouncil.

    Page 9 of 19

    Media

    Analyst: Mehul Desai2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    We firmly believe that the IPL is a

    perior sporting event that has

    ansformed the very landscape of cricket

    obally. Together with our partners UFO

    oviez and Valuable Media, we are

    nfident of bringing about a radical

    ansformation in the way the sport of

    cket is viewed and enjoyed by fans

    ross the world. We believe that there

    e significant untapped business

    portunities that are being addressed by

    is association that will create a global

    nchmarkn Rangachari, Director, ESD

    urce: IndianTelevision.com, Dar Capital firm is

    hest bidder with USD 70.4 million for IPL theatrical

    hts, November 12, 2009)

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    10/19

    Oman Oil to further invest in Bina Refinery

    OmanOilCompany(OOC)islikelytoinvestanadditionalapprox.USD244

    million(INR1,220crore)intheUSD2.4billionBinarefineryproject.TheprojectisbeingimplementedbyBharatOmanRefineriesLtd.(BORL)inMadhya

    Pradesh.ThisinfusionoffundsislikelytoincreaseOOCsstakefromthe

    current2to26percent.BORLisajointventure(JV)companyofBharat

    PetroleumCorporationLtd.(BPCL)andOOC.Itwasformedin1993butOOC

    hadfrozenitsinvestmentsfollowinginordinatedelaysintheimplementationof

    therefineryproject.

    EGOM decides to allocate another 50 MMSCMD of KG-D6 gas

    TheEmpoweredGroupofMinisters(EGOM)hasdecidedtoallocateanother50

    millionmetricstandardcubicmetersperday(MMSCMD)ofKrishnaGodavari

    (KG)D6gastoindustrialconsumers.Ofthe50mmscmd,20mmscmdislikely

    tobeallocatedonfirmbasistoindustrialconsumersinpower,fertilisers,steel,

    petrochemicals,refineriesandcitygasdistributionandtheremaining30

    mmscmdislikelytobeallocatedonafallbackbasis.Theadditionalallocationis

    expectedtoincreasetheoverallcustomerbaseforsupplyofgasthereby

    avoidingfrequentchangesintheproductionlevelfromtheblock.

    BPCL, Videocon-led consortium finds more oil in Brazil

    AconsortiumofBharatPetroResources,VideoconIndustriesandAnadarko

    PetroleumCorporationhasdiscoveredadditionaloilintheirWahoo2wellblock.

    TheWahoo2wellislocatedinblockBM-C-30,5milestothenorthfromtheoriginalWahoodiscoverywell,whichhitover195feetofnetoilpayinOctober

    lastyear.AnadarkoPetroleumistheoperatorofblockBM-C-30andholdsa30

    percentstake.US-basedDevonEnergyCorporationandIBVBrazilPetroleoa

    jointventure(JV)betweenVideoconandBharatPetroResources(BPCLs

    overseasexplorationandproductionfirm)hold25percentinteresteachinthe

    blockBM-C-30whereasSouthKorea'sSKEnergyholdstheremaining20

    percent.

    Mangala oil field's output touches 20,000 barrel oil per day mark

    OilproductionfromRajasthan'sprolificMangalafieldhastouchedthemarkof

    20,000barrelsperday.EarlierCairnIndia(Cairn)hadsuccessfullytestedthefirsthorizontalproductionwellatthisoilfieldatarecordtestproductionrateof

    morethan11,500barrelsofoilperday.Accordingtonewsreports,36

    developmentwellsweredrilled,ofwhich26havebeencompleted.Cairnhas

    alsoconcludedaninitialagreementtosupplycrudeoilfromtheMangalafieldto

    RelianceIndustriesLimited(RIL)inJamnagar,Gujarat.

    Page 10 of 19

    Oil and Gas

    nalyst: Sidharth Balakrishna and Suman Lala2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    ectorFirm

    allotmentsFallback

    allotments

    xisting Assets

    ower(includingplants

    obecommissionedin009-10)-beyond18

    MMSCMDearmarked

    arlier

    12.07

    (+0.875)*12

    on-Ureasubsidized 0.178 -

    ertilisers

    teel(onlyforfeedstock) 0.44 -

    etrochemicals(onlyfor

    eedstock)1.918 -

    efineries 5 6

    GDprojects(for

    dustrial&commercialectors)

    2

    aptivepowerplants 10

    otal19.606

    (+ 0.875)*30

    For4powerplantsofAPat75percentPLF,subject

    overificationbyMoPIII.

    llocation of 50 MMSCMD additional gas toarious priority sectors

    ource: Infraline, EGOM finalizes allocation of another 50

    MSCMD of KG-D6 gas to industrial

    onsumers, November 12, 2009

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    Ranbaxy launches generic version of blockbuster drug Valtrex

    with 180-day exclusivity

    RanbaxyLaboratoriesLimited,oneofIndiasleadingpharmaceuticalcompanies,hasreportedlylaunchedthegenericversionofGlaxoSmithKlinePlcs(GSK)anti-

    herpesdrugValtrex(valacyclovir)intheUS.Thecompanywasgranted180-day

    exclusivityforthedrugin2007.Thedrug,believedtobelaunchedonNovember

    25,2009,isavailableintheformof500mgand1gtablets.Valtrexhadsalesof

    aroundUSD2.2billionintheUSin2008.Ranbaxymanufacturedvalacyclovir

    fromtheproductionfacilityofitsUSsubsidiaryOhmLaboratories.

    Draft bill finalized to set up NCHRH; MCI, PCI, dental, nursing

    councils likely to be abolished

    ThedraftbilltosetuptheNationalCouncilforHumanResourceinHealth(NCHRH)

    hasreportedlybeenfinalized.NCHRHisexpectedtobeformedasanoverarching

    regulatorybodytohelpindeterminingandregulatingthestandardsformedical

    educationinIndia.ThismoveexpectstoaidIndiainbridgingthegapsinhealthcare

    manpowerandresources.ThisCouncilislikelytoreplacetheexistingmedical,

    dental,nursingandpharmacouncilsinIndia.Thehealthministryhasopenedthe

    finalizeddraftbillforpublicscrutiny.

    Ecron Acunova enters into alliance with Tokyo CRO

    EcronAcunova,aBangalore-basedcontractresearchorganization,andJapan-

    basedTokyoCROInc.havereportedlyjoinedhandstoextendtheirnetworkof

    servicesandfacilitateclinicaltrialsinexpandedgeographies.WhileEcron

    AcunovaislikelytogettheopportunitytotaptheJapanese,Chineseand

    KoreanmarketswhereTokyoCROhasestablisheditspresence,TokyoCROis

    expectedtoleverageonthealliancetoexpandintoIndia,EuropeandtheUS.

    Jubilant forms a JV for developing new drugs

    JubilantOrganosysLimited,anIndianpharmaceuticalcompany,hasreportedly

    formedaJointVenture(JV)withtheUniversityofAlabamaatBirminghamand

    US-basedSouthernResearchInstitute.TheJVisexpectedtolookinto

    developingnewdrugsespeciallyinareasofoncology,metabolicandother

    infectiousdiseases.Theagreementincludesthediscoveryandthedevelopment

    ofthemostpromisingbiologicaltargetsbythethreeentities.

    Intas and Orbus Pharma sign a non-binding offer agreement

    IntasPharmaceuticalLimited,anIndianhealthcarecompanyandOrbusPharma

    Inc.,aCanadianpharmaceuticalmajor,havereportedlysignedanon-binding

    offerforthesaleoftheproductrightsofthelattersMetoprololSuccinatefor

    thecontinentalEuropeanregionandanyotherterritories(excepttheUS).

    MetoprololSuccinatecanbeusedaloneorincombinationwithotherdrugsin

    thetreatmentofhighbloodpressure.Thetransactionisexpectedtobeclosed

    byJanuary2010.

    Page 11 of 19

    Pharma

    Analyst: Nandita Kudchadkar and Parnika Dayal

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    To overcome the acute shortage and

    even distribution of human resources in

    blic health delivery system, the Ministry

    Health & Family Welfare aims at

    erhauling the current regulatory

    amework. Toward this end, it is proposed

    set up a National Council for Human

    sources in Health as an overarching

    gulatory body to achieve the objective of

    hancing the supply of skilled personnel

    the health sectork Force for setting up of the National Council for

    man Resources in Health

    urce: Report of the Task Force for setting up of the

    tional Council for Human Resources in Health,

    nistry of Health and Family Welfare, Government of

    a, 2009)

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    NTPC diversifies into hydro power

    StateownedNationalThermalPowerCorporation(NTPC)isdiversifyinginto

    hydropowertobecomeanintegratedenergyutilitywithadiversifiedfuelmix.Ithassetatargettogenerate9000megawatt(MW)ofhydroelectricityby2017,of

    which2000MWareexpectedtobegeneratedfromUttarakhandandHimachal

    Pradesh.ThehydroprojectsplannedinUttarakhandare520MWTapovan

    Vishnugad,600MWLoharinagPala,171MWLataTapovanand261MWRupsia

    BhagarBarawhiletheoneinHimachalPradeshis800MWKoldamproject.

    TheUSD1402billionTapovanVishnugadprojectisexpectedtobe

    commissionedbyDecember,2011sixmonthsaheadofschedule.

    PFC enters into a JV to promote energy efficiency projects

    PowerFinanceCorporation(PFC)hasenteredintoaJointVenture(JV)with

    NationalThermalPowerCorporationLtd,PowerGridCorporationofIndiaLtd

    andRuralElectrificationCorpLtdandsetupacompany,EnergyEfficiency

    ServicesLtd(EESL),topromoteprojectsinvolvingenergyefficiency,

    conservationandclimatechange.Theventurewitheachpartnerholdingan

    equalshare,hasbeensetupwithanequitycontributionofapproximatelyUSD

    89billion.Itplanstopromoteenergy-efficiencyprojectssuchasBachatLamp

    Yojana,AgriculturalDemandSideManagementandMunicipalDemandSide

    ManagementandtargetsarevenueofUSD327billion.

    Cabinet approves National Solar Mission

    TheCabinetrecentlyapprovedtheJawaharlalNehruNationalSolarMissiontoreducethedependenceonfossilfuels.Themission,withaninitialinvestmentof

    USD2027billion,isplannedtobeimplementedinthreephasesandaimsto

    provide20,000MWtothenationalgridby2022.

    TheGovernmenthasappointedNTPCVidyutVyaparNigamLtdasthenodal

    agencyforreachingpowerpurchaseagreementswhichwouldsellthepower

    boughtfromsolarprojectdeveloperstoStateutilities.Thiswouldbethen

    creditedagainstthecompulsoryrenewableenergypurchasetargetssetbythe

    respectiveStateElectricityRegulatoryCommissions.

    BHEL enters into a JV to set up thermal power plantBharatHeavyElectricalsLimited(BHEL)enteredintoaJointVenture(JV)with

    MadhyaPradeshPowerGenerationCompanyLimitedtosetupa1600MW

    powerplantatKhandwainMadhyaPradesh.Theplant,withanequalshareheld

    byboththepartnersinitially,wouldbeequippedwithsupercriticaltechnology

    forlowercoalconsumptionandloweremissions.Thestakeswouldbelater

    dilutedto26percenteach,withtherestheldbyfinancialinstitutionsandother

    partners.

    BHELhasalsoenteredintojointventureswiththesouthernstatesofTamil

    NaduandKarnatakatosetupandoperatesupercriticalthermalpowerplants.

    Page 12 of 19

    Power

    Analyst: Sidharth Balakrishna and Neha Saraf2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Currently wind power generation

    the country stands at about

    0,500 MW. We will double this

    apacity by 2022 and try to triple

    ooq Abdullah, Minister for New and Renewable

    ergy

    urce: The Economic Times, Govt to double wind

    wer generation by 2022, November 27, 2009)

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    SEBI eases norms for raising funds

    Thecapitalmarketregulator,SecuritiesandExchangeBoardofIndia(SEBI)has

    easednormsforsecurity,ortheassetcover,requiredforissuingsecuredbonds.Themoveisexpectedtobenefithousingfinancecompanies,which

    usuallyissuepartlysecureddebtsecurities,facedproblemsinraisingfunds,as

    companiesusuallysolddebentureswithanunderlyingsecuritythatwasonly

    worthafractionoftheamountraised.

    DIPP proposes relaxation of FDI norms for realty

    TheDepartmentofIndustrialPolicyandPromotion(DIPP)hasproposedfurther

    relaxationofFDInormsfortherealestatesector.Presently,athreeyearlock-in

    periodisrequiredanoriginalinvestmentmadeintotheintegratedtownship

    developmentandotherconstructiondevelopmentprojects.Consideringthe

    intensityoftheFDIinflowsintherealestatesector,thedepartmentwantsto

    removetheconditionofminimumperiodfortherepatriationoftheoriginal

    investment.Theproposaliscurrentlybeingdiscussedwithvariousother

    ministries.

    RMZ takes first steps in residential real estate market

    RealestatedeveloperRMZCorp.,whichhasovertheyearsspecializedin

    commercialpropertydevelopment,isplanningtohaveitspresenceinthe

    residentialsegmentby2010.By2011-12,thecompanyexpectstohave50:50

    commercialandresidentialportfoliomix.Inthefirstphasethecompanyis

    planningtodeveloprowhousesandapartmentsinHyderabadandBangalore,

    whileinthesecondphaseoftherollout,thefirmplanstokickoffprojectsin

    KochiandChennai.

    Brigade Group joins the queue for affordable housing projects

    BangalorebasedrealestatedeveloperBrigadeisplanningtoleveragethe

    changingmarketscenariowiththelaunchofaffordablehousingprojectstotaling

    upto10,000unitsinthecitybyFY2010-11.Thefirmalsohasplanstolaunch

    affordablehousingprojectsinMysore,Chennai,HyderabadandMangalore.The

    companyisintalkswithvariousbankstoraisetherequiredfundsforits

    affordableventure.

    Low rentals boost commercial estate sales

    Accordingtotopbuilders,thecorrectioninthecommercialrealtyratesin

    metrosby20to40percentisexpectedtoimprovethesalesby50percentin

    Q3andQ4of2009-10.Largebuildersinvariousmetrosaretappingthis

    opportunitybyofferingready-to-possessoffices,shopsandcommercialplotsat

    15-20percentdiscount.

    Page 13 of 19

    Real Estate and SEZs

    Analyst: Rajiv Parekh2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    urce: Real Estate Developers, Goldman

    chs, October 26, 2009

    415 423

    53131

    233 199 224 205 194

    337233

    357

    1324

    822

    0

    200

    400

    600

    800

    1000

    1200

    1400

    Ju

    l-08

    Aug-0

    8

    Sep-0

    8

    Oc

    t-08

    Nov-0

    8

    Dec-0

    8

    Jan-0

    9

    Fe

    b-0

    9

    Mar-

    09

    Apr-

    09

    May-0

    9

    Jun-0

    9

    Ju

    l-09

    Aug-0

    9

    Mumbai Total Absorption

    onthly Commercial Absorption (Mumbai)

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    Page 14 of 19

    Telecom

    Analyst: Neha Dayal and Rishabh Chadha2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Reliance Communication cuts SMS tariff to one paisa

    RelianceCommunicationhasfurtheraugmentedthetariffwarsbyannouncinga

    newplanwhichallowsuserstoSMSatonepaisaandhasalsolaunchedanotherplanallowinguserstosendunlimitedtextmessagesforUSD0.02(INR

    1)perdayandcappingthenumberofmessagespermonthunderthisplanto

    15,000.

    Successful bidders to use 3G spectrum after June, 2010

    DoThasannouncedthatthesuccessfulbiddersforthe3Gauctions,scheduled

    tobeheldinJanuary2010,willlikelybeabletoutilizethespectrumonlyafter

    June,2010.Thisisduetothefactthatthearmedforceswouldrequireafew

    monthstoshiftoperations.

    TRAI recommends porting charge of USD 0.41 (INR 19)

    TheTelecomRegulatoryAuthorityofIndiahasstatedthatmobileusersopting

    forMobileNumberPortability(MNP)willhavetopayUSD0.41(INR19)orless

    toavailtheservice.Withanestimated25percentofuserslikelytooptforMNP,

    thisislikelytoserveasacatalystforoperatorstointroducenewincentivesand

    schemestoattractandretaincustomers.

    Essar takes 51 percent stake in Uganda, Congo telcos

    TheEssarGroup,ledbytheRuiasissettoacquirea51percentstakeinDhabi

    GroupstelecomoperationinUgandaandCongoforUSD150million.Essaris

    likelytoinvestthisamountinWaridTelecominUgandaandCongotoenhance

    networkqualityandislikelytoeventuallytakeoverthemajoritystakeinboth

    thesecompanies.

    Over 500 million telecom users in India

    TheIndianTelecomindustryhassurpassedthetargetof500millionmobileand

    landlinesubscribers.Thetargethasbeenachievedalmostayearinadvance.At

    theendofOctober,thenumberofmobileusersstoodat488.4millionandthe

    numberoffixedlineusersstoodat37.25million.

    perator

    Wireless Net Adds('000s)

    Sept '09 Oct '09

    taTeleservices 4,006.8 3,867.7

    odafoneEssar 1,971.6 2,980.2

    hartiAirtel 2,514.9 2,702.1

    eliance 2,005.0 2,096.5

    rcel 1,313.1 2,018.2

    eaCellular 1,395.9 1,900.5

    SNL 1,452.2 675.2

    stemaShyam 228.4 335.8

    TNL 17.3 58.2

    oopTelecom(BPL) 77.6 50.1

    FCL (0.6) (13.6)

    tal 14,982.3 16,671.0

    Others

    2%Aircel

    6%

    Tata Teleservices

    10%

    Idea Cellular

    11%

    BSNL

    12%

    Vodafone Essar

    Reliance

    18%

    Bharti Airtel

    23%

    ireless Net Additions (Sept-Oct, 2009)

    Wireless Net Additions (Sept-Oct, 2009)

    urce: TRAI Press Release, November 21, 2009 and November 04, 2009

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    Kakinada forms JV with Sembawang

    KakinadaSeaportsLtdhasformedajointventure(JV)withSembawang

    Shipyard,awhollyownedsubsidiaryofSembcorpMarineLtd.,tosetupamarineandoffshorefacilityontheeasterncoastofIndia.Thetwocompanies

    arelookingattappingtheoilexplorationandshippingactivitiesintheregion

    especiallytherepairandreconstructionactivitiesofoffshorevessels.

    SembawangisplanningtoinvestaboutUSD375millioninphasesandis

    expectingtoachieveafinancialclosureinthecomingthreemonths.TheJVis

    planningtogetbusinessfromcompanieswhosendtheirvesselstoSingapore

    forrepairandmaintenanceandhelptheseclientstosavearound20-30percent

    onthecostsinvolved.Thefacilityisexpectedtobeconstructedoveraperiodon

    3-5yearsandofferserviceslikenewbuildings,conversions,repairsand

    servicingofoffshorevesselsandships,buildingofoffshoremodulesand

    equipment.

    Kingfisher to raise USD 600 million

    KingfisherAirlinesisplanningtoraiseaboutUSD600millionfundstopayoffits

    debtandstrengthenthecompanysfinancialposition.Theshareholdershave

    approvedaUSD100millionrightsissueandUSD100millionGlobalDepository

    Receipts)GDRissue.Thecompanyissaidtobeintalkswithvariousprivate

    equityfundstoraiseaboutUSD400millionfunds.

    Foreign airlines can add more flights in India

    TheDirectorateGeneralofCivilAviation(DGCA)hasissuednewguidelinesforforeignairlinestooperateflightstoIndia.Asperthenewguidelines,foreign

    airlinescanoperateadditionalcapacityofupto10percentoftheirentitlements

    duringhighairtraffic.TheguidelinesalsohavewithdrawntherightofAirIndia,

    Indiasnationalcarrier,toissueaNo-ObjectionCertificate(NOC)toclearthe

    extraflightswhichfallunderbilateralentitlements.Thismeansforeignairlines

    cannowoperatelargeraircraftoroperateadditionalflightsduringthepeak

    seasonandcatertotheincreaseddemand.

    Blackstone invests USD 350 million in Gateway Rail

    BlackstoneGroup,theUSbasedprivateequityhasacquireda37.5percent

    stakeinGatewayRail,asubsidiaryofGatewayDistriparks,throughcompulsoryconvertiblebonds.BlackstoneissaidtohaveinvestedaboutUSD350millionfor

    thestake.

    TVS Logistics acquires Multipart Holding

    TVSLogisticsServicesLtd.hasacquiredMultipartHolding,UK-basedlogistic

    supplychaincompany.Throughthisacquisitionthecompanyisplanningto

    expanditsoperationsinthedefenseandutilityservices.Thecompanyislooking

    atmoresuchacquisitionsintheUSandtheEuropeanregionstoexpandits

    presenceglobally.ItalsoplanstoentertheSouthAmericanandChinese

    marketsbytheyear2010.

    Page 15 of 19

    Transport and Logistics

    Analyst: Nitin Dehadraya2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Transportation & logistics

    dustry in India is in very flexible

    osition and there are a lot of

    pportunities that are yet to be

    xplored. Analyzing the industry's

    rowth and structure, we believe

    e can bring major significant

    hanges in Indian markets. Weope should there changes are

    one, it will increase the GDP to a

    onsiderable growthhowmik, Managing Director, Duetsche Logistics

    up

    urce: Supplychain.cn, Deutsche Logistics invest US$

    0 mn in India, November 23, 2009)

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    Page 16 of 19

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Reference material for preparing this document was taken

    from the following sources:

    Note:1USD=46.7INR

    Sources

    Foreword:

    Moneycontrol.com,IndianbankspasswithflyingcoloursinRBIreport,Oct22,2009

    Bloomberg.com,IndiaFacesChallengeTimingMonetaryStimulusExit,Nov.10,2009

    Reuters,RPT-POLL-India'sSeptindustrialoutputseenup7.3pcty/y,Nov12,2009

    Economy:

    Livemint,SecondQuarterGDPat7.9%,November30,2009

    InternationalMonetaryFund

    TheEconomicTimes,NoNeedforPanic:FMonDubaiCrisis,November29,2009

    Economy:OverviewandOutlook,CrisilResearch

    Livemint,OECDExpectsIndiatoGrowat7.3%in2010,November25,2009

    ThaiIndianNews,StimulustoContinuetillRobustRecoveryTakesPlace:Mukherjee,November10,2009

    Auto

    CarTradeIndia,Ducatitosell100bikesnextyear,November09,2009

    TheTimesofIndia,SuperbikemakerDucatisetsshop,November01,2009

    HindustanTimes,Rs4,000-crMichelinplantinTamilNadu,November16,2009

    Companypressrelease,MichelingroupcommitsRs.4000croreforamanufacturingplantinIndia,November27,

    2009

    BusinessStandard,ApolloTyrestoupcapacityby50percent,November12,2009

    TheFinancialExpress,Toyotatosetupengine,transmissionplantinIndia,November24,2009

    WheelsUnplugged,VWIndiatorolloutitsfirstSUVTouaregbyearlyDec09,November13,2009

    BFSI:

    TheHinduBusinessLine,ReserveBankofIndia(RBI)mayincreasethetimelineforNPAProvisioning,November

    26,2009

    EconomicTimes,StateBankofIndiaisplanningtoforayintowealthmanagementbusiness,November,3,2009

    EconomicTimes,PunjabNationalbankplanstoacquireDanaBank,November24,2009

    FinancialExpress,HDFCacquiresCredilaFinancialServices,November13,2009

    BusinessStandard,IndianPublicSectorBanksplanningforoverseasexpansion,November26,2009

    CM:

    Just-food.com,Pantaloononacquisitionhunt,November20,2009

    HindustanTimes,ShoppersStoptoinvestUSD54milliontoopen15stores,November17,2009

    AsiaPulse,sKoreasGSHomeShoppingtomakeinroadsintoIndia,November16,2009

    HindustanTimes,Bhartifor40cash&carrystoresinIndia,November9,2009

    ATSHOA,Relianceonitsfootprints,October31,2009

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    Page 17 of 19

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Hospitality:

    TheTimesofIndia,TajsGatewayHotelchecksintoJodhpur,November10,2009

    TheEconomicTimes,Trident'sMiddleEast,SEAsianforaynextyear,November10,2009

    HindustanTimes,Marriotttoadd26newhotelsinIndia,November03,2009

    MiddleEastTourismandHospitality,November04,2009 TheStatesman,IHCplansRs1000crorefund,November06,2009

    IT:

    TheEconomicTimes,HCLTechnologiesbagsUSD200milliondealfromUKfirm,November24,2009

    TheEconomicTimesIndianESOtotouchUSD50billionby2020November18,2009

    KhandwalaSecurities,InfosysTechnologies,November12,2009

    TheEconomicTimesWiprolaunchessecondfacilityinChina,November26,2009

    BusinessStandardKPITCumminsbuysSpartaforINR180crore,October31,2009

    Media: IndianTelevision.com,ScrippsNetworkstakescontrollingstakeinNDTVLifestyle,November19,2009

    ICICIReport,PVRLimited:WhatsChanged,November16,2009

    EconomicTimes,US'ApolloManagementtoacquire11%inDishTVforUSD100million,November24,2009

    IndianExpress,CabinetnodtodigitizecableTV,November13,2009

    IndianTelevision.com,DarCapitalfirmishighestbidderwithUSD70.4millionforIPLtheatricalrights,November

    12,2009

    Oil and Gas:

    HindustanTimes,OmanOilCompanytoinvestINR1,220croreinBinarefinery,November15,2009

    Infraline,EGOMfinalizesallocationofanother50MMSCMDofKG-D6gastoindustrialconsumers,November12,

    2009

    BusinessStandard,BPCL,Videocon-ledconsortiumfindsmoreoilinBrazil,November24,2009

    Infraline,BharatPetroleum'soverseasexplorationandproductionbusinessreceivesashot-in-the-armwitha

    substantialdiscoveryofoilinBrazil,November24,2009

    TheFinancialExpress,Mangalaoilfield'soutputtouches20kbarreloilperdaymark,November14,2009

    TheEconomicTimes,RILtojoinhuntforshalegas,November16,2009

    Pharma:

    Livemint,RanbaxylaunchesgenericversionofValtrexinUS,November27,2009

    BusinessStandard,RanbaxylaunchesGSK'sblockbusterdruginUS,November27,2009

    TheTimesofIndia,GoodbyeMCI?Billonhealtheduwatchdogready,November16,2009

    BioSpectrum,EcronAcunova,TokyoCROformstrategicalliance,November12,2009

    BusinessStandard,JubilantinksJVwithUAB,SouthernResearchInstitute,November24,2009

    CompanyPressRelease,OrbusPharmaSignsNon-BindingOfferForSaleOfMetoprololSuccinateProductRights

    ForEuropeAndAnyOtherTerritoriesExceptUnitedStates,November18,2009

    Power:

    TheTelegraph,NTPCaimsbiginhydelpower,November23,2009

    TheHinduBusinessLine,PFCventurewithpowerPSUs,November19,2009

    TheHinduBusinessLine,Cabinetclearsnationalsolarmission,November19,2009

    TheEconomicTimes,BHELtosetuppowerplantincentralIndia,November18,2009

    TheEconomicTimes,Govttodoublewindpowergenerationby2022,November27,2009

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    Page 18 of 19

    2009KPMG,anIndianpartnershipandamemberfirmoftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.Allrightsreserved.

    Real Estate:

    IndianExpress,Sebieasesnormsforraisingfunds,November28,2009

    BusinessStandard,DIPPproposesfurtherrelaxationofFDIforrealty,October30,2009

    DNAMoney,RMZkeysintoresidentialrealestatemarket,November03,2009

    DNAMoney,BrigadesRs2,000-crplanforvaluehousing,November18,2009 IndianRealtyNews,Lowrentalsboostcommercialrealestatesales,November28,2009

    Telecom:

    TheHinduBusinessLine,RComcutsSMStarifftoonepaise,November27,2009

    BusinessStandard,3GspectrumwinnerscanuseitonlyafterJune,November21,2009

    BusinessStandard,CelluserscanchangetelcosforRs19only,November21,2009

    BusinessStandard,Essartakes51%stakeinUganda,Congotelcos,November16,2009

    TheEconomicTimes,Telcossurpass500mnuserbasetargetayearinadvance,November05,2009;TRAI(Press

    ReleaseNo.78/2009),November21,2009

    BusinessStandard,DoTrelents,toseekTRAIviewonuniformlicensefee,November04,2009

    Transport and Logistics:

    DNA,KakinadaSeaports,SembavanginJV,November27,2009

    BusinessStandard,Kingfishertoraise$600m,mostlytopayoffdebt,November10,2009

    Business.rediff.com,ForeignairlinescanaddmoreflightsinIndia,November13,2009

    FinancialExpress,BlackstonesRs300-crpushforGatewayRail,November10,2009

    TheHinduBusinessLine,TVSLogisticsacquiresUKcoMultipartHolding,November11,2009

    Supplychain.cn,DeutscheLogisticsinvestUS$150mninIndia,November23,2009

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    in.kpmg.com

    2009KPMG,anIndianPartnershipandamemberfirm

    oftheKPMGnetworkofindependentmemberfirms

    affiliatedwithKPMGInternational,aSwisscooperative.

    Allrightsreserved.

    KPMGandtheKPMGlogoareregisteredtrademarksof

    KPMGInternational,aSwisscooperative.

    Theinformationcontainedhereinisofageneralnatureandisnotintendedtoaddressthecircumstancesofanyparticularindividual

    orentity.Althoughweendeavourtoprovideaccurateandtimelyinformation,therecanbenoguaranteethatsuchinformationis

    accurateasofthedateitisreceivedorthatitwillcontinuetobeaccurateinthefuture.Nooneshouldactonsuchinformation

    withoutappropriateprofessionaladviceafterathoroughexaminationoftheparticularsituation.

    Contactus:

    For further information about this

    newsletter, please contact:

    Ramesh Srinivas

    Head - Consumer Markets

    e-Mail: [email protected]

    Tel: +91 80 3065 4300

    Abizer Diwanji

    Head - Financial Services

    e-Mail: [email protected]

    Tel: +91 22 3090 2380

    Rajesh Jain

    Head - Information, Communication &

    Entertainmente-Mail: [email protected]

    Tel: +91 22 3090 2370

    Jai Mavani

    Head - Infrastructure & Government

    e-Mail: [email protected]

    Tel: +91 22 3090 1920

    Yezdi Nagporewalla

    Head - Industrial Markets

    e-Mail: [email protected]

    Tel: +91 22 3983 5101

    Vikram Utamsingh

    Head - Private Equity

    e-Mail: [email protected]

    Tel: +91 22 3090 2320

    ResearchInputsbyKPMGsIndia

    ResearchCenter

    Mumbai

    Lodha Excelus,

    Apollo Mills Compound,

    N.M. Joshi Marg, Mahalaxmi

    Mumbai 400 011

    Tel: +91 22 3989 6000

    Fax: +91 22 3983 6000

    Delhi

    DLF Building No. 10,

    8th Floor, Tower B,

    DLF Cyber City, Phase 2, Gurgaon 122 002

    Tel: +91 124 307 4000

    Fax: +91 124 254 9101

    Bangalore

    Solitaire, 139/26, 3rd Floor,

    Inner Ring Road, Koramangala,

    Bangalore 560 071

    Tel: +91 80 3980 6000

    Fax: +91 80 3980 6999

    Chennai

    No.10 Mahatma Gandhi Road

    Nungambakkam

    Chennai 600 034

    Tel: +91 44 3914 5000

    Fax: +91 44 3914 5999

    Hyderabad

    8-2-618/2

    Reliance Humsafar, 4th Floor

    Road No.11, Banjara Hills

    Hyderabad - 500 034

    Tel: +91 40 3046 5000

    Fax: +91 40 3046 5299

    Kolkata

    Infinity Benchmark, Plot No. G-1

    10th Floor, Block EP & GP, Sector V

    Salt Lake City, Kolkata 700 091

    Tel: +91 33 4403 4000

    Fax: +91 33 4403 4199

    Pune

    703, Godrej Castlemaine

    Bund Garden

    Pune 411 001

    Tel: +91 20 305 85764/65

    Fax: +91 20 305 85775

    Kochi

    4/F, Palal Towers

    M. G. Road, Ravipuram,

    Kochi 682 016

    Tel: +91 484 309 4120

    Fax: +91 484 309 4121

    KPMGinIndia