India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
‰ L&T has reportedly expressed interest in a Rs50bn monorail
project in Gujarat and the company will supposedly sign an MoU
for the project during Vibrant Gujarat summit in March 2011. (BS)
‰ Tata Steel has reportedly drawn up plans to raise up to Rs70bn
through a follow-on public offer to part-finance its expansion. (FE)
‰ PowerGrid is planning to issue domestic bonds for about Rs100bn
in 2011-12 to meet its capacity expansion needs. It has also
planned a 50% increase in its capital expenditure to Rs180bn for
2012-13. (BS)
‰ Tata Steel has signed a joint venture agreement with Nippon
Steel for setting up a Rs23bn specialty steel-making line having a
capacity of 60,000 tonnes per annum at Jamshedpur to cater to
India’s domestic auto sector. (FE)
‰ Oil and Natural Gas Corporation’s (ONGC) profitability in the
December quarter may be adversely affected due to higher subsidy
pay out to refiners and higher global crude oil prices as per a
statement from its Chairman R.S. Sharma. (ET)
‰ NMDC has received approvals from the MoEF for its Rs2.8bn
limestone project in Himachal Pradesh provided it fulfills certain
conditions, including necessary clearances under the Forest Act.
(ET)
‰ Prime Minister Dr. Manmohan Singh has directed the petroleum
ministry to decide on the US$9.6bn Cairn-Vedanta deal within
this month. (ET)
‰ The Government of India has rejected Cairn India’s proposal to
raise peak production from Rajasthan oil fields by 37% to 2,40,000
barrels per day, saying that some its discoveries came after the
authorized exploration period has ended, as per some government
sources. (ET)
News headlines: Economic and political
‰ The RBI will assess the liquidity situation before taking further
decisions on open market operations (OMO), as per an RBI official.
(ET)
‰ Finance Minister Pranab Mukherjee has allayed apprehensions of
non-resident Indians (NRIs) that the proposed Direct Taxes Code
(DTC) will be harsher on them in terms of their tax liability. (ET)
‰ The Government has said that it hopes that c.30% of the targeted
USD1tn investment towards infrastructure development in the next
Five Year Plan ending 2017 would come from overseas (ET)
‰ India's foreign exchange reserves rose US$2.3bn during the week
ended December 31 to end at US$297.3bn, largely on account of
revaluation of non- dollar reserves vis-à-vis the US dollar. (ET)
‰ Airlines have reportedly got a three year reprieve to phase out
foreign pilots in what is seen as a move to aid hiring of
experienced Indian pilots for the Indian carriers. (Mint)
News headlines: Corporate
‰ Honda is reportedly targeting small cities for its of compact car
Brio, which is expected be launched in Sept with a price tag of less
than Rs500,000. (ET)
‰ Novelis a subsidiary of Aluminium major Hindalco, is reportedly
close to selling at least a part of its Bridgnorth foil plant in Britain,
which it had decided to shut down by the end of April with three
companies already conducting due diligence at the site. (BS)
‰ Future Group, which is also India’s largest retailer, is set to make
significant expansions in West Bengal over the next three years
with the aim of increasing number of Big Bazaar format stores
from 18 to 30 and number of Pantaloon format stores from 5 to 8.
(BS)
‰ L&T Chairman AM Naik has initiated a restructuring plan that will
divide the Rs370bn engineering and infrastructure major into nine
virtual companies. (ET)
‰ The Drug Controller General of India (DCGI) has sent a notice to
Piramal Healthcare last week to stop airing a truncated form of
its ad for emergency contraceptive medicine sold under brand ipill, saying that it is an advertisement in the guise of an awareness
campaign. (ET)
No comments:
Post a Comment