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<title>ETIntelligence Group</title>
<link>http://www.etintelligence.com</link>
<description>ETIG News: RSS Feeds</description>
<language>en-us</language>
<copyright>Copyright 2005-2006 BCCL. All rights reserved.</copyright>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate><lastBuildDate>Wed, 20 Aug 2008 14:54:48 IST</lastBuildDate>
<item>
<category>Global Economy</category>
<title><![CDATA[Turnaround in Construction of New Single-Family Homes Not In 2008]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/globaleconomy/globalEconomyNews.jsp?leftNavMenu=Global Economy|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[Construction of new homes fell 11.0% in July to an annual rate of 965,000 after a 10.4% increase in June. These large swings in housing starts during June and July reflect the impact of a building code change for multi-family units in New York. The count of single-family starts is not distorted by the change in code and should be used to assess the status of new home construction. Starts of single-family units declined 2.9% in July to an annual rate of 641,000 following a 3.2% drop in the prior month. Starts of single family homes are down 64.3% from the peak in January 2006 (see chart 3).]]></description>
</item>
<item>
<category>Sector</category>
<title><![CDATA[Tata Motors, Fiat JV may go the extra mile]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/sectors/auto.jsp?leftNavMenu=Sector|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[TATA Motors may be looking at extending its relationship with Italian partner Fiat to cover Jaguar and Land Rover as well. On the cards is a possible joint development programme for next-gen engines for Jaguar and Land Rover that will be fuel efficient enough to make the grade once the new European CO2 emission norms come into force.]]></description>
</item>
<item>
<category>Sector</category>
<title><![CDATA[Jindal Steel zooms in on Mozambique coal mine]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/sectors/steel.jsp?leftNavMenu=Sector|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[THE race to acquire mineral assets in foreign locations is on. Naveen Jindal-led Jindal Steel and Power (JSPL), an OP Jindal Group company, is close to acquiring a state-owned coal mine in Mozambique for Rs 200-250 crore. The coal mine is learnt to have reserves of roughly 150- 200 million tonne per annum. If the deal goes through, the company may look at setting up a power plant at the same location.]]></description>
</item>
<item>
<category>Political Data</category>
<title><![CDATA[Spurned by Congress, Rane sends feelers to]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/politicaldata/politicalData.jsp?leftNavMenu=Political Data|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[SNUBBED and humiliated by the Congress, former Shiv Sena strongman Narayan Rane seems to be looking at other parties, especially the NCP. His hour-long tête-à-tête with Praful Patel, Union civil aviation minister and the righthand man of NCP chief Sharad Pawar, on Tuesday set the tongues wagging in political circles. This incidentally is his second round of discussions with the NCP top brass.]]></description>
</item>
<item>
<category>Sectors</category>
<title><![CDATA[KSL - Auto Sector Update]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/sectors/auto.jsp?leftNavMenu=Sectors|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[July &apos;08 sees biggest jump in aggregate auto sales in 17 months; grew 15.0% YoY driven by 19% rise in 2- wheelers. Passenger cars reported dismal performance with decline of 1.8% YoY during the month; CV segment grew marginally 2.6% YoY in domestic market. Exports maintained robust trend; rose 22% YoY with sales of 133,011 units during July ‘08. New model launches would continue to boost the exports going forward. Hero Honda&apos;s 39.8% volume growth powers 19.1% two-wheeler sales; while Maruti disappointed with flat car sales volumes.]]></description>
</item>
<item>
<category>Sectors</category>
<title><![CDATA[Recent rally provides an exit opportunity]]></title>
<link>http://www.etintelligence.com/etig/researchchannels/sectors/cement.jsp?leftNavMenu=Sectors|N</link>
<pubDate>Wed, 20 Aug 2008 14:54:48 IST</pubDate>
<description><![CDATA[Cement stocks have rallied over the past month (though, subdued relative to Sensex) Factoring in positive surprises of:Price hikes in select regions.Correction in international coal rates (however, current rates remain higher than average Q1FY09 procurement prices). Consequently, Q2FY09E margins not likely to dip Q-o-Q.However, fundamentals remain weak.Overcapacity in FY09E to get exacerbated in FY10E with sharper impact in North and South.Shortages in domestic coal linkages for the sector may necessitate greater use of high cost open market and imported coal, which is likely to absorb the benefit of any correction in imported coal rates.With benign cost increase and realisationcorrections, FY10E likely to be difficult with ~22% Y-o-Y average decline in earnings for our coverage universe.Upsides from current levels unlikely; book profits.]]></description>
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