SBI Looking at Tata Motors Finance?

Industry is agog with much speculation that SBI might want to enter into motor vehicle financing in a big way through the finance arm of the Tatas, one of India's largest vehicle manufacturers. SBI is reportedly looking at picking up a near 50 per cent stake in Tata Motors Finance Ltd, the auto finance wing of the Tata Motors Ltd.

If the deal goes through, India's largest public sector bank will expand into loans for trucks and buses.

Part of MCX stake up for sale?

MCX, the fast emerging commodities exchange (specializing in metals), could be offloading 46 per cent of its stake to an international consortium. Reports suggest that some global bourses and over six global funds are putting in their offers for MCX.

The name list is impressive. London Stock Exchange, New York Stock Exchange owned NYSE Euron ext, General Atlantic of USA, hedge fund TPG Axon Capital Management owned by Fidelity International and Temasek Holdings, Abu Dhabi investment authority, are the suitors.

The nine buyers are expected to pick up 5 per cent share each of the stock exchange, the highest one can hope for under the country's stock exchange regulations.

The deal is expected to keep the valuation of MCX- SX at over Rs 5000 crore or $ 1 billion. In anticipation of pushing the deal through, the promoters are expected to dilute their own holdings down to 10 per cent, paving the way for clearing all regulatory hurdles.

TATA Motors ropes in expat to head its global operations

Tata Motors, has reportedly hired a former Europe Operations head of GM as its CEO. He is expected to drive the global business of Tata Motors.

Peter Forster, the ex GM executive, is now in his mid-fifties and is expected to be handed overall control of Tata Motors’ global operations, which will include primarily the Jaguar and Land Rover.

Bharti Airtel bids to enter SA again…

Bharti Airtel Ltd, India's largest mobile operator, is close to clinching a $10.7 billion deal to mark its entry into South Africa, after three unsuccessful attempts to do so earlier.

Bharti is reportedly buying Kuwaiti telecom operator Zain's African assets worth Rs 50,000 crore. The deal could be one of the biggest international deals in recent times in telecom history, observers say.

Bharti has not been successful in entering the African continent it had been eyeing for a long time.

Airlines log over 20 per cent growth in passenger traffic

With the economic slowdown behind us, airlines have started the year with a 22.5 per cent growth in passenger traffic, official data reveals. They expect the growth to be sustained for the rest of the year as economic growth is being guaranteed with the rise in IIP.

All the eight domestic carriers including private airlines reportedly carried over four million passengers in January 2010, a rise from over three million a year earlier, DGCA figures indicate. The airlines did not have to resort to any massive promotional campaigns to achieve this feat, industry observers say. Jet Airways, India's largest carrier, sustained its market share as the leader of the pack of eight. Inclement weather which disrupted flight schedules over northern India, did not considerably affect air traffic in terms of passengers logged.

Kingfisher, claimed to be India's 2nd biggest airline, and saw its market share in terms of passenger traffic shrink to 22.2 per cent in January from 27.9 per cent a year earlier. This was because it operated fewer flights. Paramount Airways, south India's leading airline which is on an expansion mode right now, saw its share fall to 1.8 per cent from 2.1 per cent.

Air India, on the contrary, increased its passenger share to 18 per cent from over 16 per cent. Indo augmented its share to over 15 per cent from 13 per cent. Spicejet, voted as India's favourite budget airline, increased it to over 12 per cent from over 11 per cent. GoAir's jumped to over 5 per cent from over 2 per cent, probably the biggest gainer.

Most of the airlines had over 70 per cent occupancy. There were no major discounts going in January 2010. Compare this with the irresistible offer of Spicejet last year, two tickets for the price of one.