Indian Shares

India's Tata Group has confirmed that TATA is interested in acquiring Jaguar and Land Rover from their parent, Ford. The BBC reports that while speaking to Indian TV, Ratan Tata lifted his previous refusal to speculate on a possible Tata bid for the legendary British brands. He said Tata's interest in Jaguar and Land Rover stemmed from a desire to expand its global presence.

 

Shareholders in the steelmaker Corus have overwhelmingly voted to accept a £5.75bn takeover offer from Indian firm Tata Steel. More than 97% of its shareholders backed the deal at an extraordinary general meeting, creating the world's fifth-largest steel group. More than  97% of Corus shareholders backed the deal.

• Letter to stock Exchange - Corus Shareholders approve Scheme of Arrangement
• Tata Steel Offer

Various news articles are reporting that UK giant Tesco is looking to expand into India with Mahindra & Mahindra rather than the Tata group.

The demand for skilled IT professionals in India is so high that companies are starting to find it hard to find suitable recruits. Infact some India companies (such as Intel) are setting up programmes to attract Indian's working abroad back to India. Software industry body Nasscom has warned that India faces a shortfall of half a million skilled workers by 2010

 

 

The main stock market in India for Indian shares closed at a record high today as it passed the 13,000 mark. The SENSEX has risen 36% during 2006 despite a turbulent patch earlier in the year. The rise is attributed to strong earnings from key banks and technology firms like (InfoSys, Wipro, Satyam and TATA Consulting).

"The Confederation of Indian Industry (CII) has said the Tata Steel-Corus deal is a sign of a confident India Inc and reflects the consolidation of the Indian industry in the global economy.

CII president R Seshasayee said the Tata Steel-Corus deal is a sign of India Inc being recognized as a very significant global economic player."

Source: Zee News

Anglo-Dutch steel firm Corus is reported to be close to accepting a formal £4.1bn ($7.7bn) takeover offer from Indian rival Tata. Corus encompasses what was formally British Steel. Corus is an international company, providing steel and aluminium products and services to customers worldwide with an annual turnover of £9 billion.

TATA Steel formerly TISCO - Tata Iron and Steel Company Limited) is Asia's first and India's largest integrated private sector steel company. Tata Steel produces 4 million tonnes of steel, annually. In 2005 the company was recognised as the world's best steel producer. The company is listed on Mumbai and National Stock Exchanges of India

New research has found that shares in the major India-based IT services providers have vastly outperformed their western rivals so far this year, despite falling sharply in May and starting from valuations based on much higher multiples of earnings and revenues.

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