Despite ongoing uncertainty over demand and fears of surplus capacity depressing prices, ACC Ltd., India's foremost manufacturer of cement, has decided to invest Rs 1,600 crore in 2009 and another Rs 1,300 crore next year.
The company officials unveiled the investment plans at the 73rd annual general meeting in Mumbai on Wednesday. ACC stated in a communiqué that it will enhance capacity at Bargarh plant to 2.3 million tonnes (mt) with a 30 MW captive power plant, which is expected to complete by mid-2009.
In addition, the company is also setting up two greenfield grinding plants in Karnataka which would go on steam by the end of the year.
IOL Chemicals and Pharmaceuticals Limited, a leading organic chemicals manufacturer and supplier, has announced that it will hire around 400 new employees by the end of this year.
The company has an existing workforce of over 900 professionals.
Market experts believe that despite the global economic slowdown, this is a big step by Ludhiana-based IOLCP towards preparing itself to tap global opportunities in the pharmaceutical industry.
According to the recent IDC India survey, 66 percent of the Chief Information Officers (CIOs) of 467 mid-sized and large companies surveyed expressed the hope that the ongoing global economic crisis will come to an end by December 2009.
As per the CIOs surveyed, the key investment priorities in 2009 would include software-as-a-service; unified communications; business outsourcing and data warehousing; virtualization and open source.
Carrying forth its gains into the fifth week, the Bombay Stock Exchange's Sensex was up 186 points on Monday, and closed at 10,534, while the Nifty was up by 45 points to close at 3,256. With the Indian markets consolidating, the index traded between 10,654 and 10,411.
The figures marked the highest level of the benchmark index since 10 November, 2008; thanks to the rising sanguinity about the global economy, and metals and capital goods, and auto stocks showing robust gains.
The Macquarie-SBI Infrastructure Fund (MSIF) is the newly-announced joint venture of India's biggest lender State Bank of India (SBI) and the largest Australian investment bank Macquarie Group Ltd., which has raised $1 billion for investment in ports and power plants in India.
The SBI-Macquarie joint venture MSIF also boasts of the participation of the International Finance Corporation (IFC), the private sector lending arm of the World Bank, as a minority shareholder and keystone investor.
Reporting its highest-ever fourth-quarter crude steel output figures of 11.06 lakh tonnes, steel manufacturer JSW Steel Ltd has shown an 11 percent growth as compared to the same quarter last year figures.
For the month of March 2009 alone, JSW Steel - the third largest producer of alloy in India - posted crude steel production of 4.56 lakh tones; which marked a 28 percent growth from the year-before figures, and a 39 percent on a chronological basis.
In a press release, JSW Steel said that for the fiscal year 2008-09 on the whole, the company managed to produce
Despite ongoing uncertainty over demand and fears of surplus capacity depressing prices, ACC Ltd., India's foremost manufacturer of cement, has decided to invest Rs 1,600 crore in 2009 and another Rs 1,300 crore next year.
IOL Chemicals and Pharmaceuticals Limited, a leading organic chemicals manufacturer and supplier, has announced that it will hire around 400 new employees by the end of this year.
According to the recent IDC India survey, 66 percent of the Chief Information Officers (CIOs) of 467 mid-sized and large companies surveyed expressed the hope that the ongoing global economic crisis will come to an end by December 2009.
Carrying forth its gains into the fifth week, the Bombay Stock Exchange's Sensex was up 186 points on Monday, and closed at 10,534, while the Nifty was up by 45 points to close at 3,256. With the Indian markets consolidating, the index traded between 10,654 and 10,411. 
The Macquarie-SBI Infrastructure Fund (MSIF) is the newly-announced joint venture of India's biggest lender State Bank of India (SBI) and the largest Australian investment bank Macquarie Group Ltd., which has raised $1 billion for investment in ports and power plants in India. 
Reporting its highest-ever fourth-quarter crude steel output figures of 11.06 lakh tonnes, steel manufacturer JSW Steel Ltd has shown an 11 percent growth as compared to the same quarter last year figures. 
