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Sunil Jain: Connecting Bharat
The budget is big on rural India and allocations for the Bharat Nirman project, for instance, have been hiked 45 per cent over those allocated in Budget 2008-09 — within this, allocations for projects like the Pradhan Mantri Gram Sadak Yojana have been hiked 59 per cent. While that’s all very well, it would be a good idea to see what’s happening on the government’s plans for connecting rural India, not by roads but by telephones. As compared to urban areas where around 90 per cent of people have phones, tele-density is just around 15 per cent for rural India. generic levitra

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Companies Bill likely to be re-introduced this week
The new Companies Bill, 2008, which lapsed after the 14th Lok Sabha was dissolved, is likely to be re-introduced in Parliament this week, official sources said.

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Bull run may go bust in 2 months: Jhunjhunwala
Big bull Rakesh Jhunjhunwala today said the current bull run might “go bust” in the next one or two months. “If you see the formation of the indices, all stocks are going up, all indices are going up. There are minor corrections at every point. You cannot have this kind of rise — a peak without a burst. I think the burst will come within one or two months,” said Jhunjhunwala, partner, Rare Enterprises.
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Shri Renuka Sugars acquires Brazilian VDI

Shri Renuka Sugars has acquired "Vale Do Ivai S.A Acucar E Alcool (VDI)", a Brazilian sugar and ethanol production company. The acquisition includes two sugar and ethanol production facilities located in the southern state of Parana with a combined cane crushing capacity of 3.1 mn tonnes per annum. In addition, VDI holds strategic stakes in several logistics assets including terminals for staoarge and loading of sugar and ethanol at the port of Paranagua. Larger part of the sugarcane requirements at VDI are met through its own cultivation of more than 18,000 hectares of land on long lease. VDI has an enterprise value of $240 mn. Shree Renuka will acquire 100 per cent of the equity capital of VDI for approximately $82 mn and the balance is assumed debt which is to be repaid over 8 years. The acquisition has received approval of leading creditors of VDI and other remaining conditions are expected to be completed over next 45 days. Motilal Oswal Investment Advisors was the strategic advisor to Shree Renuka for the deal.


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