Bharat Forge keen to invest in Andhra Pradesh

Hyderabad: Bharat Forge is keen to invest in Andhra Pradesh in defence technologies, renewable energy and automobile forging, the company’s chairman Baba N. Kalyani said as he met the state’s Chief Minister N. Chandrababu Naidu in Davos.

Naidu, who is in Davos to attend the World Economic Forum (WEF) summit, met some top business leaders. He told them about single-desk initiative of his government and assured of industrial approvals within 21 days.

The chief minister suggested that Anantapur or Kurnool would be suitable for defence technologies, Krishnapatnam-Yerpedu-Tirupati for investments in auto components manufacturing since it has a port and an ecosystem of auto manufacturers in Sri City and Chennai.

BRICS on growth track through planned reform: Experts

Davos (Switzerland): The economies of BRICS countries — Brazil, Russia, India, China and South Africa — are constantly growing through planned structural reforms, experts said at the 45th World Economic Forum annual meeting here Thursday.

In a session debating the economic outlook for BRICS countries, speakers showed optimism over their potentials.

India’s Finance Minister Arun Jaitley said that India intended to return to an eight-nine percent growth rate, and that the recent change in government had led to greater clarity regarding the path forward and a changed mindset, inside and outside the country.

Sensex, Nifty scale new peaks

Mumbai: A benchmark index of Indian equities markets Friday scaled a new peak and was trading at 346.31 points or 1.19 percent up.

All the sectors were trading in green. The rally was led by the banking, auto, capital goods, health care and metal sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 29,189.45 points, was trading at 29,352.33 points (at 09.24 a.m.) in the early session, up 346.31 points or 1.19 percent from the previous day’s close at 29,006.02 points.

China stock index futures open mixed

Beijing: China’s stock index futures opened mixed Monday, with the contract for settlement in January 2015, the most actively traded, down 25 points at 3,600.

The contract for settlement in February 2015 opened 3.2 points higher at 3,686.8. The March 2015 contract opened 2.6 points higher at 3,738.8. The June 2015 contract opened 2.4 points higher at 3,790.