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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Goldman adds Tata Motors to \'convic

Goldman adds Tata Motors to 'conviction buy list'

Goldman Sachs has added Tata Motors to its Asia-Pacific 'conviction buy list and raised its sum-of-the-parts target price on the stock to Rs. 368 from Rs. 361.
Goldman said it sees three key catalysts for Tata Motors shares, including improving market confidence on the auto maker's cash flow and profitability.
Goldman also cited the introduction of new models at unit Jaguar Land Rover, including Discovery and new Range Rover and Evoque units, and improved delivery to key markets such as Great Britain and China on the back of increased production.
Tata Motor shares gained 1.64 per cent to Rs. 294.70.
mes siK� ia��- ��+ e wake of ArcelorMittal, in the biggest foreign investment pullout, scrapping its $12 billion Odisha project earlier this month over inordinate delays, problems in acquiring land and securing iron ore linkages.
The spokesperson said the company has secured environmental clearance for the allocated Karampada iron-ore mine in Jharkhand and applied for forest clearance to the state government "which is now with Ministry of Environment and Forest in New Delhi for final approval".
"We have completed exploration work at the Seregarha coal block in Jharkhand and have applied to the Government of Jharkhand for a mining lease and for final approval by the Coal Ministry," ArcelorMittal said.
Not able to make much progress in Jharkhand, it has already sought Centre's help in expediting mining lease grant.
Raising the issue of inordinate delays in getting mining lease for Karampada mines in Singhbhum district it has told the Steel Ministry that all requirements have been completed but Forest clearance is pending.
The company had entered into a pact with Jharkhand government in 2005 for setting up a 12 MTPA steel plant.
The Centre had given its nod to the state government's proposal for granting prospecting licence to ArcelorMittal over 662.95 hectares of land in Karampada region in 2010. The mine is estimated to have 200 MT of iron ore reserves.
Steel Secretary D R S Chaudhary had urged the state government to have "a single window system for handling such applications".
The steelmaker has also been facing delays in land acquisition and regulatory hurdles to launch the venture.
Faced with opposition from villagers from the Khunti, Gumla areas, where the plant was proposed initially, it is making efforts to acquire land at Petarwar in Bokaro district in the state.
The company has also raised the issue of extremist problems in the state. On Karnataka front, the company is yet to secure entire 4,865 acres of land, required for its $6 billion steel plant.
It had inked the pact with Karnataka government in June 2010 to set up a 6 MTPA steel plant.

 
     
 
   
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