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RBI to raise key rates by 25 bps in January (Reuters)
A panel of ministers on Wednesday deferred a decision to raise urea prices and
asked a committee of secretaries to take a view on the matter, Junior fertiliser
minister Srikant Jena said.
Short-term interest rates fall with rise in liquidity (ET)
Short-term interest rates eased as liquidity returned to the system. However, longterm rates still continue to remain high. Interest rates on the 3-month certificate of
deposit, or CD rates, dropped to 8.73% from the previous close of 9.05%.
FII inflow at $37 b in first nine months of 2010: RBI (BL)
It is common knowledge that foreign institutional investors (FIIs) pumped in copious
amount of funds in to the equity market in 2010, helping the benchmark Sensex
move close to its previous life-time high.
India May Need to Raise Interest Rates (Bloomberg Finance LP)
India’s central bank may have to keep raising interest rates to combat persistent
inflationary pressures, the IMF’s mission chief to the country said.
Fuel Exports From India's West Coast Jump 57% as Reliance Boosts Shipments
(Bloomberg Finance LP)
Fuel exports from India’s west coast climbed 57 percent in December as Reliance
Industries Ltd. boosted shipments from the world’s largest refining complex to the
U.S., Africa and the United Arab Emirates.
IT majors tipped to post 4% profit jump in Dec quarter (BL)
Frontline Indian IT companies are expected to report a near four per cent increase in
sequential net profit for the quarter ended December 31 due to the continuing
uptrend in discretionary IT spending.
Power producers seek more time for IFRS switch (ET)
Power producers fear IFRS may treat power purchase agreements as leases, which
could impact their ability to raise capital.
December services PMI slips from Nov's 4-mth high (Reuters)
Growth in India's service sector eased in December from a four-month high the
previous month, reflecting a slightly slower expansion in new business, a survey
showed on Wednesday.
Hindustan Petroleum, Indian Oil Gain After Securing Iran Crude Supplies
(Bloomberg Finance LP)
Indian Oil Corp. and Hindustan Petroleum Corp. gained in Mumbai after the
companies secured crude oil supplies from Iran on credit amid a gridlock over
payments.
Larsen & Toubro May Split Into Nine Companies, Spin Off Some Divisions
(Bloomberg Finance LP)
Larsen & Toubro Ltd., will split into nine units “over time” as part of a reorganization
to improve growth prospects of the businesses.
Ashok Leyland Dec sales up 23.9 pct (Reuters)
India's second largest commercial vehicle maker Ashok Leyland said late on Tuesday
its sales for December rose 23.9 percent from a year ago to 7,568 vehicles.
BHEL order-book overflowing, but so are the constraints (BL)
With orders on hand at a record Rs 1,54,000 crore, India's largest power equipment
manufacturer, BHEL, sees its turnover exceeding the target of Rs 45,000 crore for
2011-12, but the company's Chairman and Managing Director, Mr B.P.Rao, also sees
several constraints in this journey.
IDFC to sell tax-free infra bonds from Jan 17 (Reuters)
Infrastructure Development Finance Company Ltd said on Wednesday it will open
sale of tax-free infrastructure bonds with a face value of 5,000 rupees each on Jan.
17, raising upto 29.29 billion rupees for the firm.
Europe Services, Manufacturing Grows at Faster Pace Than Earlier Estimated
(Bloomberg Finance LP)
Europe’s services and manufacturing ind. expanded faster than initially estimated in
December led by the fastest growth in more than four years in Germany.
Spanish Industrial Output Grows in November for First Time in Three Months
(Bloomberg Finance LP)
Spanish industrial production expanded in Nov. for the first time in three months as
the recovery from an almost two-year recession accelerated. Output at factories,
refineries and mines rose 2.% from a year earlier.
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