Sikorsky Aircraft Corp. and Tata Advanced Systems Ltd. (TASL) today announced creation of a joint venture that will manufacture aerospace components for Sikorsky in India, including components for S-92® helicopter cabins. The joint venture agreement builds upon a long-term contract signed in Jun 2009 for TASL to assemble Sikorsky S-92® helicopter cabins. Sikorsky is a subsidiary of United Technologies Corp. (UTX) and TASL is a wholly owned subsidiary of Tata Sons.

Both the joint venture agreement and the cabin assembly contract stem from a MOU signed in Feb 2007 by the companies to explore the creation of aerospace operations in India. The cabin assembly contract signed in June 2009 has led to ongoing construction in Hyderabad, in the state of Andhra Pradesh, where TASL will assemble S-92 helicopter cabins starting in 2010.  The new joint venture will be positioned to manufacture components for other aerospace Original Equipment Manufacturers

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EI Du Pont Nemours Co. (DD), the world’s second largest chemical company, recently announced that it will benefit from the recovering economies in emerging markets including China, India and Brazil, where a significant increase in population and globalization are fueling demand.

DuPont sales in emerging markets have grown by 80% in the past five years at a compound annual growth rate (CAGR) of 16% and accounted for nearly one-third of the company's $30.5 billion sales in 2008. While 2009 emerging market sales estimates are expected to drop about 10% from $9 billion in 2008, the company projects 2012 emerging market sales of about $13 billion.

DuPont’s sales in China grew at a CAGR of 14% over the last five years. Sales in 2008 were about $1.7 billion. The company expects solar and light-weight vehicle technologies to help growth in China. The company is currently a major supplier to the crystalline silicon

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Dr. Reddy's Laboratories, Ltd. (RDY) is a global pharmaceutical company located in Hyderabad, India. RDY produces active pharmaceutical ingredients (API), finished dosage forms and branded and generic pharmaceutical products for the global market.While fiscal 2007 was a very strong year for the company, the lack of significant generic product launches, intense pricing pressure in the generics market, and declining revenues from the Mexico CPS and betapharm businesses took a toll on the company's performance in fiscal 2008. Though we expect RDY to swing back to growth in fiscal 2009, we believe it will take some time for the company to resolve the situation in Germany and Mexico.This, along with the lack of any significant near-term catalysts, is likely to keep the shares trading in a tight range over the next few months. We maintain our Hold rating with a price target of $10 (INR ...

Rocked by scandal, Satyam Computer Services Ltd. (ADR: SAY) is embarking on a massive corporate restructuring, but with India’s reputation as an investment destination and world leader in information technology at stake, time is of the essence and the government could be forced to step in with a financial bailout.

“We are considering all options and will soon announce definite steps to help the company overcome the current crisis as it is the question of saving jobs and an international brand,” Commerce and Industry Minister Kamal Nath said Monday. “The Prime Minister is closely monitoring the developments on Satyam.”

Indian authorities last Friday detained former Satyam Chairman B. Ramalinga Raju on charges of forgery, breach of trust and criminal conspiracy after the founder of India’s fourth-largest software exporter confessed to falsifying about $1 billion in cash on Satyam’s books and exaggerating

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In today’s news, Axial Vector Energy announced that it has selected Mr. Sanjai Chhaunker as its new President and CEO effective today. Mr. Chhaunker will be in charge of all AVEC corporate functions, including finance, administration, international operations, product development, customer services, sales and marketing.

“Sanjai has tremendous operational and product development experience that covers the range of corporate functions,” commented Mr. Ahmed Khalifa, Chairman of AVEC. Mr. Khalifa further said, “The Board has given its full endorsement of his plan to use the financial resources of EICA to seek acquisitions of companies and technology for AVEC that compliment AVEC engine, generator and electric motor technologies.”

“Sanjai Chhaunker’s depth of experience and leadership skills will allow us to accelerate our growth and take the company to the next level,” stated Mr. Arash Masom, Senior Managing Director of Emirates Capital. “We are excited to

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Hedge Funds in IndiaThe Benefits of Offering Hedge Funds in IndiaHere's a short article on how the Committee of Financial Sector Reforms in India might introduce hedge funds and why this would be a positive move for the Indian markets and fund industry as a whole.______________________ The Draft Report of the Committee on Financial Sector Reforms headed by Professor Raghuram Rajan was issued for comment in April 2008. Among the proposals that the high-level committee made was the introduction of domestic hedge funds. The committee feels that, “The presence of hedge funds would induce greater competitive pressure for other regulated fund management channels such as mutual funds.” This week’s article discusses the benefits of introducing hedge funds in the Indian market. It shows how ...