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PE fund raising to gather steam; to touch $100 bn by 2012
After a lull, private equity investments in the infrastructure sector are likely to look up again by the end of this year and the reserves available with the fund houses are expected to touch $100 billion by 2012. http://smallpersonalloans.org.uk

MF industry assets hit all-time high of Rs 8 lakh cr
The assets under management (AUM) of mutual funds in the country have increased to Rs 8 lakh crore at the end of November, mainly propelled by bulk inflow into debt schemes.

News of the day

One-third of Russia's garment retailers go bust
A third of Russia’s 42,000 clothing retailers will close by the end of this year after the economic crisis hurt local spending, according to the head of the European Fashion and Textile Export Council.
Management

Tata Power net down 28%

Tata Power Company reported a 28 per cent fall in net profit at Rs 182.1 crore for the second quarter ended September, compared to Rs 252.9 crore for the corresponding quarter last year. - Madhucon Projects Q2 net dips 7% - GE Shipping Q2 net dips 82% to Rs 106 cr - GVK Power Q2 net surges 45% - ABB Q2 net declines 21% to Rs 83 cr - Nalco"s Q2 net erodes 64% at Rs 159 cr - Mundra Port's Q1 net zooms 56% Net sales were also lower at Rs 1,721.1 crore, 12 per cent lower as against the Rs 1,958.9 crore in the same period last year. Total income of the company has decreased by 16.3 per cent from Rs 2,147.3 crore in the corresponding previous year quarter to Rs 1,796.6 crore for the quarter ended September 30, by the audited results. Tata Power said the results are not comparable with last year, due to higher forex gain of Rs 76.7 crore in the second quarter of last year, whereas this was only Rs 3.1 crore in the second quarter of this year. The remaining other income for the period was also lower at Rs 72.4 crore, against Rs 111.7 crore in the corresponding quarter last year. The company also said net sales were lower, mainly due to reduction in fuel price. The benefit has been passed on to consumers, by lowering power rates.


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