Anil Ambani plans global M&A fund

Anil Ambani is in talks with George Soros, private equity firm Blackstone and Singapore state investment firm Temasek about launching a $5 billion global buyout fund, a paper reported on Monday.

Ambani, one of richest men who controls top CDMA-mobile services provider, Reliance Communications Ltd, has put up $500 million of his personal wealth and has received commitments of up to $2.5 billion from other investors, the Economic Times said.

The fund, which was likely to be based in Singapore, would focus on firms in telecoms, media, communications technology, software, IT-related and broadband services, the paper said, quoting people familiar with the development.

The fund could look for "big-ticket acquisitions" in Asia and the Middle-East, the paper said.

courtesy:- sify finance

BANK OF INDIA

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TIGER VS DRAGON

Firms likely to benefit from nuclear deal

The US Senate action put India closer to being able to purchase US nuclear fuel, reactors and related technology.

It has overwhelmingly endorsed a plan to allow US civilian nuclear fuel shipments to India, handing President George W Bush an important victory on one of his top foreign policy initiatives.

Senior lawmakers championed the proposal, which would reverse decades of US anti-proliferation policy.

They said that it strengthens a strategic relationship with a friendly country that has long maintained what the United States considers a responsible nuclear program.

Nuke deal beneficiaries BHEL L&T Areva T&D NTPC Reliance Energy Rolta Siemens ABB Alstom Projects Crompton Greaves HCC Gammon

Power generation

Back home, analysts have welcomed the Senate approval. "This is a positive development from India's perspective," said Amitabh Chakraborty, Head - PCG, Brics Securities.

The Senate action was critical to help allow India meet its soaring energy needs.

"This is a positive development for the nuclear power programme in India," said Amitabh Mundhra, Director, Simplex Infrastructure.

The government plans to double the country's power generation capacity that currently stands at 1,250,000 MW.

According to estimates, India country would need additional 100,000 MW of power by 2012.

"The government has announced its intention and put in more nuclear power. More reactors will be put in place going forward. The deal can give raw material for projects and opens up equipment export avenues," added M V Kotwal, Director, Larsen & Toubro.

Of the total power generated, thermal power constitutes the maximum at 57 per cent followed by hydel power at 25 per cent. Nuclear energy constitutes a meager 3 per cent and this is likely to go up three fold by 2015.

Ashu Kakkar, a technical analyst suggests that potential investors can look into buying L&T, HCC and Gammon India from a long-term perspective.
courtesy:- ndtv profit