India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
News Round-up
Economy News
4 India’s annual headline inflation rate declined to an 11-month low of7.48% in November on the back of a higher base effect and easing food
prices. Costlier fuel may disrupt the downward trend. (Mint)
4 The Maharashtra government has scrapped its policy to grant additional
floor space index (FSI) for public parking in Mumbai city under its
Development Control Regulations 33 (24). (BS)
4 Indirect tax collection has registered a growth of 50.1 per cent till
November 2010 over the corresponding period last year, Revenue
Secretary Sunil Mitra said. Cumulative tax collection at the end of
November had reached 55.8 per cent of its target of Rs.7.45 trn, he said.
Direct tax mop-up stood at 50.38 per cent of the target till November, at
Rs.2.16 trn, with a growth of 17.85 per cent over the comparable period.
(BS)
Corporate News
4 Bharat Petroleum Corp. Ltd (BPCL) increased petrol prices by Rs2.95
per litre, making it the fifth hike this year. Other government-owned oil
marketing companies such as Indian Oil Corp. Ltd (IOC) and Hindustan
Petroleum Corp. Ltd (HPCL) are expected to follow suit. (Mint)
4 The Reliance-Anil Dhirubhai Ambani Group (R-Adag) will sew up around
$3 billion in loans as a part of deals that will be signed during the visit of
Chinese Premier Wen Jiabao. A portion of the money will be used to fund
equipment purchases from Chinese companies by R-Adag’s telecom and
power units. (Mint)
4 Tata Consultancy Services (TCS) has won a multi-million dollar deal
from Deutsche Bank for its core banking software. The deal is the one of
largest for the financial software products division of TCS and one of the
biggest banking product deals of 2010, its president N Ganapathy
Subramaniam said. (ET)
4 JSW Infrastructure, an unlisted entity of the Sajjan Jindal-led JSW group
said it will sell 10% equity stake to global investor Eton Park Capital for
$125 million (about Rs 5.62 bn). (ET)
4 Shareholders of Vedanta Resources Plc have approved the proposed
acquisition of majority stake in Cairn India for up to USD 9.6 billion, said
an official of the group. (ET)
4 NTPC evinced interest in picking up 76% stake in Patratu and Tenughat
thermal power projects in Jharkhand. "We are in talks with Jharkhand
government to pick up stakes in Patratu and Tenughat," NTPC CMD Arup
Roy Choudhary told reporters. (BS)
4 Bajaj Hindusthan has committed investments to the tune of Rs.225 bn
in power projects to come up in Uttar Pradesh over the next 4-5 years.
The company on Tuesday entered into an MoU with the UP government
to set up a 1980 MW thermal power plant in Bargarh area of Chitrakoot
district. (ET)
` RCom (RCOM IN) has struck a deal with China Development Bank for a USD 1.93 bn
syndicated loan, most of which will be used to refinance short-term debt incurred to
pay for 3G spectrum. At an interest rate of 5%, RCom will save over USD 111 mn
annually. (BSTD)
` BPCL (BPCL IN) has raised petrol prices by INR 2.95 a litre effective Tuesday midnight,
while IOC (IOCL IN) and HPCL (HPCL IN) may follow suit in a few days. (BSTD)
` LIC Housing Finance (LICHF IN) said its shareholders has approved a stock split in the
ratio of 1:5 as part of its plan to improve the liquidity of its scrip. (BSTD)
` Bajaj Auto (BJAUT IN) will raise prices across its range of motorcycles by up to INR
1,000 starting January. (BSTD)
` NTPC (NATP IN) is likely to form a JV with the Jharkhand government to revive,
expand and run two of the latter's thermal power units, Patratu and Tenughat. Talks
were on and NTPC might take a 76% stake in the proposed JV. If it went through,
the investment contemplated was about USD 3.33 bn. (BSTD)
` NTPC (NATP IN) gets govt. nod to sell 15% power from 2 units in spot market. (THBL)
` TCS (TCS IN) has won a multi-million dollar deal, worth over USD100mn, from
Deutsche Bank for its core-banking software. (ECNT)
` OBC (OBC IN) has raised its base rate by 50 basis points to 9% and BPLR by 75 bps to
13.25%. (BSTD)
` BOI (BOI IN) said it will raise its base rate to 9% per annum from 8.5%. (BSTD)
` JSW Group plans to spend USD 60-100 mn to develop a port project in Chile. (FNLE)
` JSW Infrastructure an unlisted entity of Sajjan Jindal led JSW group will sell 10%
stake to Eton Park for USD 125mn. (ECNT)
` Kalpataru Power Transmission (KPP IN) won 3 orders worth USD 133.33mn in India &
Democratic Republic of Congo. (ECNT)
` Bajaj Hindusthan (BJHS IN) has committed USD 5bn investment in power projects in
Uttar Pradesh over the next 4-5 years. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
No comments:
Post a Comment