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B&E This Fortnight
 
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NATIONAL

Issue Date - 24/11/2011
 
Easy road for M&As
The Telecom Regulatory Authority of India has proposed a new set of norms that are expected to make M&As in the telecom sector more liberal. According to the latest recommendations of TRAI, if a resultant entity after a merger or acquisition commands up to 35% market share, the merged or acquired company would be considered in the ‘green line’ or safe harbour and the M&A in question will require no direct clearance of the government or the Competition Commission of India. The move may prove to be a breather for the highly competetive Indian telecom market where a number of companies command a small market share and the sector is expected to see a good number of mergers, acquistions and consolidations if these recommendations get the approval.

 
Maruti looks to restore normalcy
After months of stoppages at its Manesar plant and delays in the delivery of its new Swift model, the country’s largest car manufacturer by sales, Maruti Suzuki, is expecting the production to become normal by the end of December. The company normally makes 1,200 cars a day at its Manesar factory in the northern state of Haryana, where production has been hit by frequent labor issues since June. The continuous disruptions have badly impacted the delivery of its most popular Swift Hatchback diesel car, which is produced only at the Manesar plant. Maruti lost about Rs.7 billion due to recent labour unrest at its Manesar plant but the tougher job for them now would be to shore up the confidence of customers, which has taken a dent due to non-delivery of its existing bookings & the reports of some labourers trying to hamper the quality of cars at the Manesar plant. The crisis at Maruti has occured at a bad time, when the automobile sector is already struggling with sluggish growth due to rising costs of raw materials, rising interest costs and petrol price hikes. Other players like Huyndai, Tata, Mahindra, et al have also witnessed lower than expected sales in the same time period.

          

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