La Farge completes a decade in India

French cement maker La Farge has completed a decade of its existence in India. It now has a revenue markup of a billion dollars from Indian operations. It is set to build plants in Rajasthan, Karnataka and Meghalaya, . Bruno Lafont, global Chairman and CEO, say the compan’s focus is on new operations. It is eyeing more acquisitions in the cement industry.

Arcelor Mittal buying Uttam Galva Steels

Arcelor Mittal, controlled by Lakshmi Mittal, is reportedly buying a near 30 per cent stake in the Indian company, Uttam Galva Steels Ltd . It hopes to build a million tonne steel plant in Maharashtra through a joint venture with this company, media reports indicate. The Netherlands based company is said to have bought a near 6 per cent stake in October from the Miglani family that originally promoted Uttam Galva. It has now made an open offer to raise its stake to 35 per cent at Rs 120 a share. Sources at Arcelor Mittal and Uttam described the news as market speculation.

Offers for troubled Maytas?

Even as the embattled Satyam is stabilizing with the Mahindras taking it over, two infrastructure companies are reportedly making an offer to take over the troubled Maystas Properties Ltd and also complete its projects. The companies’ names have not been disclosed by the government. Maytas Properties was promoted by the now jailed owner Ramaalinga Raju's family. The controversy over the firm has delayed its projects, a maiden residential one, called Maytas Hill Country, in suburban Hyderabad.

Corporate Affairs Minister, Salman Khursheed, said: "Maytas Properties has good value for its properties , but what it really lacks is funds. Government is trying to arrange this.”

RIL eyeing Lyondel ?

Reliance Industries Ltd. controlled by big brother Mukesh Ambani is reportedly looking at acquiring the European firm Lyondelbasell Industries. It is said to have sold nearly Rs 3000 crore worth of treasury stock at Rs 1035 per share to raise cash.

RIL is keen to acquire this company so as to capture new markets in Europe and the United States to emerge as a major player in the petrochemicals biz. RIL is said to have made a non-binding offer for the firm allegedly gone broke. Lyon has filed bankruptcy protection under the US laws. People in the know of the deal say its worth anything between $10 billion and 12 billion or Rs 47,000 crore to Rs 56,000 crore. This is the second time that RIL has sold treasury stock, shares that a company retains for itself for such exigencies. DSP Merril Lynch and Citigroup Global Markets India are said to be the institutions putting through the multi billion dollar deal.

China to be India's major competitor in software?

China is likely to emerge as a major competitor to India in the software biz. It is reportedly shoring up its skills in its once weak turf, the English language. This is likely to happen in a year and until then India and the USA will continue to be the undisputed leaders in software business. Says Narayana Murthy, mentor of Infosys: “China will become a major competitor. It is brushing up its English language skills.”

Philippines is also emerging as a lead player in the BPO business and it could pose problems for India.