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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
Facebook brings India on par with Menlo Park
Posted on 17th January 2019
Mumbai: Facebook, in a major overhaul of business structure, has carved out India as a separate region with a six-member board that will be treated on a par with the one at its Menlo Park headquarters in the US.

The India board will also be the first such for Facebook in any of its markets outside of the US. The local office will also report directly to Menlo Park and will no longer be part of Facebook’s Asia Pacific operations.


Larsen & Toubro Infotech acquires Ruletronics for $7.48 million
Posted on 17th January 2019
IT midcap and digital solutions company Larsen & Toubro Infotech (LTI) announced the acquisition of Ruletronics, a pure-play Pega consulting and implementation company with offices in the UK, USA, and India for $7.48 million.

The acquisition will strengthen LTI’s rapidly growing digital business with a suite of capabilities in Pega implementation space around establishing BPM Roadmap & Strategy, Customer Services, RPA and Decisioning.


Axis Bank hits record high; rallies 12% in two weeks
Posted on 8th January 2019
Shares of Axis Bank hit a record high of Rs 679 per share, up 2 per cent on the BSE, on expectations of a strong recovery in earnings, due to lower provisioning. The stock surpassed its previous high of Rs 677 recorded on September 10, 2018, in intra-day trade.

In the past two weeks, Axis Bank has outperformed the market by surging 12 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex.


BHEL to set up electric vehicle charging stations on Delhi-Chandigarh highway
Posted on 17th January 2019
New Delhi: State-owned Bharat Heavy Electricals Ltd (BHEL) on Thursday said it will set up a network of solar-based electric vehicle chargers (SEVC) on the Delhi-Chandigarh highway.

"The establishment of EV chargers at regular intervals over the entire 250 km stretch between Delhi and Chandigarh would allay range-anxiety among the electric vehicle users and bolster their confidence for inter-city travel," the company said in a statement.


Amazon lists over 1,000 job openings in Hyderabad, Bangalore despite new e-commerce rules
Posted on 17th January 2019
New Delhi: Undeterred by India’s revised e-commerce policy that kicks off from next month, Amazon has not stopped hiring engineers and managers in India. An analysis of job listings on Amazon shows the e-commerce giant has more than 1,400 vacancies in India. In Bangalore and Hyderabad, there are over 1,000 open positions with software engineers being the most in demand.

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