Industries banking on their own power projects are increasingly unable to operate their captive plants at full capacity as prices have shot up after the government reduced the quota of coal to be offered in auctions so that more fuel is made available for independent power producers.
The October-December 2010 quarter saw the highest growth in topline among the past five to six quarters, but profitability remained sluggish, with the quarter posting decline of five per cent in net profits.
To help real estate sector in the country to get bank finance for restarting work on stalled projects, the Union Finance Ministry is taking initiative and the banking sector is also getting ready for the same.
Bank credit is fast running out. Instruments and financiers to support the next wave of infrastructure development are works in progress. While infrastructure finance appears to be transiting towards maturity, Charu Bahri wonders if it is happening quickly enough.
Some industry observers feel that the cost of funding for real estate developers may decline marginally following the reduction in the repo rate by the Reserve Bank of India (RBI). On March 19, the central bank cut the policy repo rate by 25 basis points (0.25%) to 7.5 percent. Any kind
Videocon Industries, led by Group Chairman Venugopal Dhoot, is all set to sell its 10 per cent stake in Rovuma Area 1 Offshore Block in Mozambique for $2.475 billion (approx Rs 14,750 crore) to ONGC Videsh Ltd and Oil India.