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Indian companies dominate ranks of world’s best-performing industrial firms, thanks to PM Modi
Posted on 14th June 2018
Indian companies are dominating the ranks of the world’s best-performing industrial firms as they benefit from neighboring China’s pollution crackdown and billions in domestic infrastructure spending.

Of the 15 best-performing stocks over five years, eight are from Asia’s No. 3 economy and range from graphite electrode makers to equipment providers. Companies such as HEG Ltd., Graphite India Ltd. and Finolex Cables Ltd. have benefited from China’s pollution control measures as well as India’s pledge to electrify even the remotest village, said Gopal Agrawal, portfolio manager at Tata Asset Management Ltd., which oversees $3 billion in equity funds.

Prime Minister Narendra Modi’s focus on electrification has buoyed demand for cables and wires used in the power sector. India added 100,000 circuit kilometers of interstate transmission capacity in the last four years, according to a June 5 statement from India’s power ministry. The nation has also pledged to spend $88 billion this fiscal year on roads, railways and other infrastructure.

Its neighbor to the north meanwhile has tightened emission norms that spurred steel production from electric arc furnaces, which use graphite electrodes to process steel from scrap. With supplies also constrained, graphite electrode producer HEG’s stock surged 1,457 percent last year, outpacing Bitcoin’s gains, and has climbed 45 percent so far in 2018.

“Graphite is a godsend opportunity from China,” said Agrawal, whose firm has the third-largest equity exposure to the industrials sector. “If China relaxes its environment pollution norms, that could negatively impact the party for India’s industrial firms.”

Other Latest News
Made-in-India electric cars from Mercedes-Benz soon as it bets big on EVs
Posted on 20th June 2018
German automaker, Mercedes-Benz is betting big on electric cars globally and also believes that electric cars will play a crucial role as India gets ready to adapt to future of mobility. A report on TOI confirmes that Mercedes-Benz has plans to manufacture electric cars from its plant in Chakan, Pune. The company has already confirmed that it will launch on BSVI compliant diesel engine cars and SUVs in India and now expect many a range of hybrid and electric cars from Mercedes-Benz in India soon.

India shelves Air India sale plan after failing to attract buyers – reports
Posted on 20th June 2018
India has shelved its sale of Air India after failing to attract buyers, local media quoted a government minister as saying – a decision that could exacerbate the carrier’s financial woes and representing a setback for government efforts to cut debt. Civil Aviation Minister Suresh Prabhu said plans to privatise the carrier have been dropped for now due to factors such as the looming election and high oil prices, according to Times of India which cited news agency PTI.

Merger-bound Idea Cellular completes VoLTE expansion
Posted on 20th June 2018
Idea Cellular on Tuesday said it has completed the rollout of VoLTE services in all its 20 4G circles with the country’s third largest telecom operator announcing the launch of VoLTE in five circles — Himachal Pradesh, Odisha, Assam, North East Service Area (NESA) and Jammu & Kashmir.

“With the completion of the last phase of VoLTE rollout, Idea is now the only operator to offer pan India integrated 2G, 3G, 4G and VoLTE services.


Former RBI Deputy Governor Rama Subramaniam Gandhi joins Paytm as Advisor
Posted on 20th June 2018
One97 Communications, which runs Paytm, has appointed former RBI Deputy Governor Rama Subramaniam Gandhi as an advisor. Gandhi will bring his years of knowledge and experience on payment systems, regulations, compliance and corporate governance, the company said in a statement. Gandhi was a member of the first Monetary Policy Committee.

Sensex opens in green, up 130 points in early trade
Posted on 20th June 2018
The BSE Sensex rebounded over 130 points in opening trade today, reversing its two-session losing streak on value-buying in select blue-chips amid a strengthening rupee.

Overseas, mixed trend at other Asian markets also influenced trading sentiments here. The rupee recovered from its nearly one-month low by strengthening 32 paise to 68.06 against the US dollar in early trade today. The 30-share BSE index was trading higher by 130.41 points, or 0.37%, to 35,417.15 in early trade today.


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