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Wednesday, May 27, 2009

Tata Group hopes to close $1 bn fund by Dec

Tata Group hopes to close a $1 billion infrastructure fund by the end of the year and plans to invest it through its realty and infrastrucure unit, a senior official said on Wednesday.

"This will meet a large part of our equity and
debt requirements... elections were a decisive factor and investors are very excited," Tata Realty and Infrastructure chief financial officer Kishore Saletore told reporters.

The fund opened for subscription in mid 2008. Tata Realty plans to invest 200 billion rupees ($4.2 billion) over three years, he added. Tata is among India's most diversified business groups, with interests in areas such as food, steel, auto, chemicals and software.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 12
20:00 EIA Natural Gas Storage Change 1 109B 108B 122B
21:00 4-Week Bill Auction 1 4.08% 4.17%
21:30 USDA WASDE Report 1
22:30 30-Year Bond Auction 1 4.844% 4.819%
Friday, Jun 13
04:00 Business NZ PMI 2 47.5 53.3 Revised from 53.9
14:00 Consumer Inflation Expectations 2 3.4%
18:00 Manufacturing Sales (MoM) 1 -2.0% -1.4%
18:00 Capacity Utilization 1 79.8% 79.8%
18:00 Wholesale Sales (MoM) 1 -0.9% 0.2%
19:30 UoM 5-year Consumer Inflation Expectation 2 4.2%
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