The Chennai (India) based Clenergen India Private Limited, a wholly owned subsidiary of Clenergen Corporation, announced today that ICICI Securities Limited has agreed to be the Lead Merchant Banker for the fund raising exercise through issuance of equity shares in India for Clenergen’s 16MW and 64MW gasification technology based power plants.

The cost of the two projects, which together will generate 80MW/Hr of clean, renewable electricity, has been projected to total US$ 236.47 million, out of which a sum of US$ 153.70 million is planned to be raised in the form of long term debt. This assignment has been mandated to Ernst and Young in India.

Out of the total equity component of US$82.76 million, US$65 million will be raised through a public floatation on the Indian Capital Markets, the rest being a combination of contribution to equity by Clenergen Corporation, USA and

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For Immediate Release

Chicago, IL – July 9, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Colgate Palmolive (CL), China Mobile (CHL), ICICI Bank (IBN), Tele Norte (TNE) and Toyota Motor Corp. (TM).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Wednesday’s Analyst Blog:

IMF Grows More Optimistic

While the U.S. is gaining share of the world economy relative to the other advanced economies, it is losing share to the developing parts of the world, most notably China and India. While the two emerging giants have not been immune to the world

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The International Monetary Fund (IMF) just raised its outlook for worldwide economic growth for 2010. As shown in the table below (from http://www.imf.org/external/pubs/ft/survey/so/2009/RES070809A.htm) overall economic growth for the world is now expected to be 2.5% in 2010, up from a forecast of 1.9% growth back in April. This is still a pretty sluggish pace, especially considering that the world population is growing at about 1.2% a year according to the CIA World Factbook. It is less than half the rate that the world economy was growing in 2007, and even below the 3.1% rate of 2008, but it is a major improvement over the 1.4% decline expected for this year (down from a -1.3% growth rate expected in April). As bad as things are here in the U.S., the IMF report shows that the U.S. is actually doing much better than other advanced economies.  We ...

For Immediate Release

Chicago, IL - June 24, 2009 - Zacks Equity Research highlights El Paso Corp. (EP) as the Bull of the Day and Cadence Design Systems (CDNS) the Bear of the Day. In addition, Zacks Equity Research provides analysis on ICICI Bank (IBN), Infosys (INFY) and Wipro (WIT).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2676.

Here is a synopsis of all five stocks:

Bull of the Day:

We are maintaining our Buy recommendation on El Paso Corp. (EP) but are lowering our target price from $13.00 to $12.00 per share. The stock is up roughly 60% since March as worries of liquidity and execution risk on its backlog of pipeline projects has been alleviated due to the normalization of capital markets and indications of a stabilizing U.S.

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This morning the World Bank reminded us that the recession is a world-wide affair, and that the U.S. is probably gaining share of the world's economy despite our economic problems. In other words, while it might be bad here, lots of places have it far worse.Overall, the world's economy is expected to contract by 2.9% -- a sharply lower forecast than the 1.7% drop it was looking for in March. The OECD high-income countries are expected to see a 4.2% decline. The primary cause of the world-wide slump is a 9.7% decline in world trade.For the U.S., the worst of the decline for the year was probably seen in the first quarter, down 5.7%. Assuming a 4.0% decline in the second quarter, a 2.0% drop in the third quarter and a flat 0.0% quarter in the fourth quarter (a somewhat more bearish outlook than the ...

Benjamin Graham, the teacher and mentor of Warren Buffett, wrote two seminal tomes on value investing called Security Analysis in 1934 and The Intelligent Investor in 1949. I was reading The Intelligent Investor at a time when the bear market following the dot com bubble was in full swing and I remember thinking to myself that some of what Mr. Graham mentions in his book may no longer hold true as even at that point  it was almost impossible to find stocks that met his criteria such as a Price/Book ratio of less than 1.5, a P/E < 15, uninterrupted dividends for last 20 years and an adequate margin of safety. If you like bargain hunting for things, you are probably aware that there is an intrinsic value to things and unless the seller is in distress it is very difficult to ...

Investors have watched Asian markets this week as they continued to tumble. An article yesterday from Forbes.com entitled: ”Asia Stocks To Twist With U.S. Earnings” describes the 3 day selling spree in emerging markets: “Nikkei 225 average dropped 8% to 8,693.82, at one point nearing a five-year low touched the week before. Hong Kong’s Hang Seng fell 10.8% to 14,554.21, while China’s Shanghai Composite Index slumped 7% to 1,930.65.”

This was all on fears of weak 3rd quarter reports, continued US troubles, and general fears of slowing worldwide growth. However, stocks rallied sharply yesterday - almost across the whole of Asia. The Emerginvest Heat map shows it quite well graphically:

Hong Kong was up

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viastockadvisors

“The Asian rally is under way,” says Yiannis Moustrous, editor of The Silk Road Investor. Here, he looks at a favored pair of NYSE-listed banks; one in India, the other in South Korea.

“The latest rally started from depressed levels, particularly in comparison to other regions of the world.

“Further, the current oil price weakness–if sustained–will act as a positive catalyst for Asian economies that are net oil importers.

“Extreme selling conditions usually set the stage for a rally, which can be rather substantial when a lot of cash is on the sidelines, a lot of short positions need to be covered and marginally positive news emerges. These conditions are currently in place in Asia.

“The previous selloff is giving us the opportunity to add one more position to our India holdings:ICICI Bank. I’ve recommended this company before, and I view it as one of the stronger private banks in India.

“It also offers decent insurance exposure, a sector that has

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Chrysler Building Sold to Abu Dhabi; 2,500 Employees Depart From Northwest; Icici Bank on the Prowl; OPEC Revenue to Jump 86%; Steve & Barry’s Bankruptcy; Bear Market S&P; Busch to Shareholders: Just Say No; Bank of America Chief Sees Mid-Year Recovery New York’s Chrysler Building, the an iconic piece of the city’s skyline and the world’s tallest building until 1931, was bought by an Abu Dhabi sovereign wealth fund Tuesday. The Abu Dhabi Investment Council paid Abu Dhabi Investment Council acquired the Chrysler Building from a fund managed by Prudential Financial Inc. (PRU). Northwest Airlines Corp. (NWA) said yesterday (Wednesday) that it will cut 2,500 jobs because of high oil prices, and start charging $15 to check a single piece of luggage and as much as $100 to redeem a frequent-flier award ticket, the Associated Press reported. The ...