Apr

20

Axis Bank Earning Updates FY 2009

Filed Under Banking, India Investment Opportunities, Indian Companies, Indian Stock Market | Leave a Comment

Hi Folks,  here are Axis Bank results:

http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=393951

Many Indian Banks are going to show some solid results this time.

But here’s some latest news from Axis Bank.

http://economictimes.indiatimes.com/News-by-Industry/Shikha-Axis-CEO-Nayak-quits-in-huff/articleshow/4427758.cms

While their performance numbers for FY 2009 look great, the same senior management execs are leaving, which will surely reduce the rate of growth for the near term as new executives try to fill the slots and gain confidence from business partners. So we have a good performance card, but those execs are leaving. We can expect downward pressure on the stock tomorrow.

*Plus we have the US wash down impact from today after JP Morgan revealed that US Banking sector may have to do $400 bn more write downs may happen in addition to the $920 bn already done. So that’s not good news.

dow-jones-20apr2009

Lets see how this plays out tomorrow.

Apr

17

Reliance and GAIL India starting second phase of Gas Pipeline from Krishna-Godavari basin

Filed Under Energy | Leave a Comment

Reliance Industries (RIL) and GAIL India are setting themselves to start the second phase of construction of the pipeline to transport gas from the Krishna-Godavari basin to the southern parts of the country.

The gas pipeline would be completed by 2012 with an investment of over Rs 11,300 crore, including about Rs 2,300 crore from RIL and Rs 9,000 crore from GAIL India.

  • Reliance Gas Transportation Infrastructure was authorized to lay over 1,140 km of pipeline as well as 470 km of the Vijaywada-Nellore-Chennai section and 670 km of the Chennai-Tuticorin section.
  • GAIL India would lay over 700 km of pipeline from Dabhol to Bangalore and Bangalore to Mangalore with an investment of Rs 9,000 crore.

Both RIL and GAIL India secured the authorization from the Ministry of
Petroleum and Natural Gas in 2007 to lay these pipelines. GAIL India and RIL in 2007 had signed a gas transmission agreement
(GTA) to share each other’s pipelines for the transmission of natural
gas from the KG basin fields.  [source : Asian Cerc]

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