Economy News  16 Jan: Kotak Securities

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Economy News
 Road ministry has stated that as much as Rs 5 trillion investments would
be made in the road sector in the next five years. Government has set
the target to build 30 km roads per day in two years from now. It is
believed that the ministry has an ambitious target to award about
40,000 km of national highways during the next five years to push road
construction. (TOI)
 Taking advantage of falling global oil prices, India plans to start filling its
strategic crude reserve. It will shortly make a provision for financing such
purchases in the coming Budget, said Petroleum Minister Dharmendra
Pradhan. (BS)
Corporate News
 SpiceJet's co-founder Ajay Singh has signed an agreement with Sun
Group Chairman Kalanithi Maran as well as KAL Airways, who control 53
percent stake in the airline to take over ownership and control of the
company. Financial details were not available. The transfer is part of the
scheme to restructure and revive the airline. (ET)
 Bharti Airtel has integrated yuMobile customers into its mobile network,
consolidating its position as the second largest mobile carrier in Kenya
with a combined customer base of over 8 million and a 26.6 % customer
market share. The process, which started last August, has seen the 2.55
million yu-Mobile customers get integrated into the Airtel network. (ET)
 Standard & Poor's has given a BB rating with a stable outlook to the GMR
Infrastructure-promoted Delhi International Airport, ahead of its
proposed $300-million bond issue. It has warned of a potential decline in
revenue and margins due to a lower airport tariffs. A `BB' rating means
the company is "less vulnerable in the near-term, but faces major
ongoing uncertainties to adverse business, financial and economic
conditions. (ET)
 Royal Dutch Shell, Europe's largest oil company, and French firm GDF Suez
are likely to take 26% stake each in GAIL India's proposed `floating LNG
import terminal' at Kakinada in Andhra Pradesh. Andhra Pradesh Gas
Distribution Corp -a joint venture of GAIL Gas and Andhra Pradesh Gas
Infrastructure Corp (APGIC) -will hold the remaining 48%. (ET)
 Bharat Heavy Electricals Limited (BHEL) has bagged a contract for
setting up a Combined Cycle Power Plant (CCPP) in Karnataka. It will on
EPC basis, involving supply and commissioning of a fuel-efficient state-ofthe-art
Advanced-class Gas Turbine. Order is valued at Rs 12 Bn for the
370 MW Gas Turbine-based CCPP to be installed at Yelahanka on the
outskirts of Bengaluru city. (BL)
 CESC's unit-I of Haldia power plant started full load generation.
Company stated that the first unit reached full load generation capacity
of 300 MW. Company's second unit of 300 MW will also come on stream
by March. The power plant is 600 MW capacity thermal power plant
which has coal linkage with Coal India. (BL)
 YES Bank plans to seek approval from regulators for entering into the
asset management and primary dealership business. However, the bank
is yet to decide on whether it wants to build an asset management
business or to buy an AMC. The mutual fund business will further help
YES Bank improve its focus on scaling up this end of the segment. (BS)
 UltraTech Cement Ltd has charted out its next phase of greenfield
expansion after a period of aggressive acquisitions over the last two
years. Following its takeover of two cement plants owned by the Jaypee
group, UltraTech has plans to set up two greenfield grinding units in Bihar
and West Bengal. The company has an installed capacity of 62 million
tonnes per annum (mtpa) of grey cement. It has 12 integrated plants,
one clinker plant, 16 grinding units and six bulk terminals. (MINT)