Indian Stock Market

ONGC, the country’s largest state-owned oil company, and Hungarian oil major MOL are production opportunities in third countries.“We are exploring the option to expand ONGC’s relationship with MOL for pursuing overseas opportunities,” an ONGC official involved in talks with MOL told ET. If talks fructify, the two companies could consider joint bids for a few oil and gas blocks coming up for grabs in the markets in central and eastern Europe, CIS countries and the Middle East. MOL, Hungary’s largest oil company with a considerable presence in Central Europe, the Middle East and CIS countries, is in the process of picking up a 35% stake in ONGC’s onshore exploration block in Himachal Pradesh.

companies completing all formalities and the Details of expanding the scope of the present discussed during a recent visit of a Ficci-led Indian business delegation to Hungary. A MOL official told ET in Budapest that the company would take a decision to expand its partnership with ONGC after completing its investments in the Himachal Pradesh block. It makes sense for ONGC to partner MOL as it would get it access to certain E&P opportunities in Central and Eastern Europe where the company has limited presence. The markets in CIS, Middle East and North Africa could also be used by ONGC to make its own investments. ONGC could also hope to participate in MOL’s operational ventures in countries like Kazakhstan, Russia, Yemen, Angola, Egypt and Syria. MOL is a fully integrated oil company with presence in oil exploration, refining and retailing activities in domestic and overseas markets. The group’s 2008 revenues were in excess of 13 billion Euros. “ONGC could gain a lot from MOL’s experience as it could supplement its own efforts to get oil and gas acreage in overseas markets,” said the ONGC official.

ONGC Videsh OVL has got 33 oil exploration blocks across the world. It operates 21 of the 38 oil and gas blocks in which it owns a stake. Its recent prized buy has been £1.4 billion acquisition of Imperial Energy.

Reliance diary will start selling Milk branded as Life in non reliance retail shops .

Nestle , amul will be facing a big competition now .

Reliance Dairy Foods, a subsidiary of Reliance Retail, is muscling into the country’s branded milk product market with a new brand that will take on established players such as Amul, Mother Dairy, Nestle and Gowardhan by offering higher margins to retailers and 10% extra milk to customers. and 10% extra milk to customers. The Mukesh Ambani-controlled company will sell its new milk brand, Life, through general milk distributors, while its existing Dairy Pure brand is sold only through Reliance Retail stores. The Life brand milk will be available in Haryana, National Capital Region (NCR) and Himachal Pradesh, a Reliance Retail spokesperson told ET. extension of our product portfolio.” Reliance’s according to industry sources, the dairy foods space offers high margins on limited initial investment. offers high margins on limited initial investment. In fact, existing companies such as Nestle India and Parag Milk Foods too have drawn up big investment branded milk distribution business that’s growing 10-12% a year. 12% a year.

Analysts say the sector sees high margins of 10-12% need to make one-time investment for setting up processing units and supply chain units with cold storage facilities. Pune-based Parag Milk Foods, owner of the Gowardhan this year to expand capacities for processing 20 lakh liters of milk daily. “We are witnessing 15% growth every year in our annual milk retailing business in Maharashtra and now with new investments, we’ll further expand it to states such as Tamil Nadu, Andhra Pradesh and Karnataka,” said chairman Devendra Shah. India is the world’s largest milk producer and, according to a study jointly published by the Central Ministry of Food Processing Industries and Federation of Indian Chambers of Commerce and Industry, about 35% of total milk produced in the country is processed. 35% of total milk produced in the country is processed. annually while the unorganised sector processes about 2.2 crore tonnes. This study, prepared by consulting firm Ernst & Young, says there are currently 676 dairy plants in the organised sector that combines cooperative, private and government sector units. India’s total milk production totals 10.28 crore tonnes.

Demand for milk and milk products has increased in urban areas despite recent price hikes. Govardhan increased price of its milk products by 5% over the past two months due to increased prices of cattle food and below-average rainfall. two months due to increased prices of cattle food and below-average rainfall. Gujarat Cooperative Milk Marketing Federation, India’s largest food products marketing organisation and owner of Amul brand, hiked prices of brands such as ‘Taaza’ and ‘Slim and Trim’ by Re 1 per litre and by Rs 2 per litre for brands such as ‘Gold’ and ‘Shakti’ in Gujarat. per litre for brands such as ‘Gold’ and ‘Shakti’ in per litre for brands such as ‘Gold’ and ‘Shakti’ in Gujarat. The National Dairy Development Board, a nodal agency for the country’s dairy programmes, says that feed accounts for about 70% of the cost of milk production. “Prices of cattle feed increased by 20% compared to last year due to insufficient monsoon,” says Maharashtra Rajya Sahakari Dudh Mahasang (Maryadit) chairman Vinayak Patil. His organisation owns the brand ‘Mahananda’ and is planning to expand its network in Gujarat and Karnataka. Nestle India has also major plans to increase its Slim Milk, it mainly caters to niche segment and to the investment and on future plans.

Analysts say the move by companies is a reflection of the growing interest. “This time, players are more calibrated in their expansion plans and doing cost analysis while committing expansion plans, compared to 2007,” says Sangeeta Tripathi, a retail analyst with Sharekhan Securities.

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