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News Headlines
L&T to restructure business into 9 verticals (Reuters)
Larsen & Toubro will reorganise its operations into nine business verticals as the
conglomerate seeks to simplify its structure to better manage growth.
R-Power to invest $5 bn in Indonesia (ET)
In one of the largest foreign investments in Indonesia, R-Power will infuse $5 billion
in projects covering coal mining, setting up of railway, ports and power projects.
RBI signals series of rate hikes to tackle inflation (BS)
The Reserve Bank of India set the stage for a series of rate hikes to tackle inflation,
which the central bank believes is likely to remain above the comfort zone.
Average inflation during 2010-11 to jump up to 9 per cent: Finance Ministry (ET)
The finance ministry on Monday said the average annual inflation inflation during the
current fiscal will jump to 9 per cent, compared to 3.8 per cent recorded a year ago.
Cash crunch, high costs stall 666 projects in 2010 (BL)
India Inc has put off 275 projects worth Rs 67,000 crore in manufacturing and another
307 services and utility projects worth Rs 25,000 crore in 2010 due to cost overruns,
paucity of funds, high finance costs and delays in obtaining Government approvals.
Current a/c deficit a worry, need to arrest fall in FDI (BS)
Flagging widening current account deficit as a major risk, RBI said the government
should speed up decision-making and improve business climate to arrest the
continuing decline in net foreign direct investment.
Billionaire Shanghvi’s Sun Pharma Plans U.S. Purchase (Bloomberg Finance LP)
Sun Pharmaceutical Industries is planning its biggest acquisition in the U.S. to boost
sales in the world’s largest pharmaceutical market.
India's Dec iron ore exports dip 24.8 pc y/y-trade (ET)
India exported 9.7 million tonnes of iron ore in December, down 24.8 per cent from a
year ago. Iron ore exports during the April-December period fell 17.02 per cent.
OMCs raise profit margin with ethanol-blended petrol (BS)
Sale of ethanol-blended petrol has turned more profitable for the oil marketing
companies with the recent increase in petrol prices. Their margin has moved up from
Rs 7.90 per litre to Rs 12.43 since November when blending was reintroduced.
BSNL, RCom bear initial brunt of mobile number portability (BL)
BSNL and RCom have emerged the biggest losers as a result of Mobile Number
Portability. BSNL lost 20,000 subscribers and RCom lost 13,500 as on January 16.
U.S. eases some high-tech export curbs on India (Reuters)
The U.S. Commerce Department is easing certain controls on exports of hi-tech
goods to India, stemming from an agreement Barack Obama made in November.
Union Bank profit growth muted by higher provisions (BL)
A sharp jump in provisions towards sticky assets tempered the profitability of Union
Bank of India in the third quarter. It reported a net profit of Rs 580 crore, up 8%.
Indian Bank net up 11% on growth in core biz income (BL)
Indian Bank's net profit rose 11 per cent to Rs 491 crore in the quarter ended
December, as against Rs 441 crore in the corresponding quarter last year.
SKS Microfinance Oct-Dec net down 38.41 pct (Reuters)
SKS Microfinance, India's largest microfinance lender, posted a 38 percent drop in
net profit for Oct-Dec to 341.55 million rupees on total income of 3.85 billion rupees.
Godrej Inds Q3 net jumps 39 pct boosted by chem biz (Reuters)
Godrej Industries consolidated net profit rose 39 percent to 610 million rupees in the
December quarter, supported by strong growth in chemicals business.
Sterlite plant gets state pollution board nod (Reuters)
Tamil Nadu Pollution Control Board has said Sterlite Industries has met the necessary
requirements at its Tuticorin copper smelter, a court document on Monday showed.
Oil Ministry sets 11 preconditions for Vedanta-Cairn deal (ET)
The Oil Ministry is ready to give "in-principle" approval for Vedanta Resources' $9.6
billion acquisition of Cairn India, if the mining firm agrees to a set of 11 preconditions.
IMF sees global growth in 2011 just under 4.75 pct (Reuters)
The International Monetary Fund expects global economic growth in 2011 to be just
slightly slower than last year's rate of 4.75 percent, its deputy managing director said.
Spanish Banks' Capital Shortfall Not Exceeding $27 Bn (Bloomberg Finance LP)
Finance Minister said the amount needed to recapitalize Spain’s banking system
won’t exceed 20 billion euros and “all or part” will come from financial markets.
Sarkozy Seeks Smaller Group to Address Curncy Issues (Bloomberg Finance LP)
French President wants to persuade the Group of 20 nations to establish a smaller
forum to address global currency issues because the larger body is too unwieldy.
India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
L&T to restructure business into 9 verticals (Reuters)
Larsen & Toubro will reorganise its operations into nine business verticals as the
conglomerate seeks to simplify its structure to better manage growth.
R-Power to invest $5 bn in Indonesia (ET)
In one of the largest foreign investments in Indonesia, R-Power will infuse $5 billion
in projects covering coal mining, setting up of railway, ports and power projects.
RBI signals series of rate hikes to tackle inflation (BS)
The Reserve Bank of India set the stage for a series of rate hikes to tackle inflation,
which the central bank believes is likely to remain above the comfort zone.
Average inflation during 2010-11 to jump up to 9 per cent: Finance Ministry (ET)
The finance ministry on Monday said the average annual inflation inflation during the
current fiscal will jump to 9 per cent, compared to 3.8 per cent recorded a year ago.
Cash crunch, high costs stall 666 projects in 2010 (BL)
India Inc has put off 275 projects worth Rs 67,000 crore in manufacturing and another
307 services and utility projects worth Rs 25,000 crore in 2010 due to cost overruns,
paucity of funds, high finance costs and delays in obtaining Government approvals.
Current a/c deficit a worry, need to arrest fall in FDI (BS)
Flagging widening current account deficit as a major risk, RBI said the government
should speed up decision-making and improve business climate to arrest the
continuing decline in net foreign direct investment.
Billionaire Shanghvi’s Sun Pharma Plans U.S. Purchase (Bloomberg Finance LP)
Sun Pharmaceutical Industries is planning its biggest acquisition in the U.S. to boost
sales in the world’s largest pharmaceutical market.
India's Dec iron ore exports dip 24.8 pc y/y-trade (ET)
India exported 9.7 million tonnes of iron ore in December, down 24.8 per cent from a
year ago. Iron ore exports during the April-December period fell 17.02 per cent.
OMCs raise profit margin with ethanol-blended petrol (BS)
Sale of ethanol-blended petrol has turned more profitable for the oil marketing
companies with the recent increase in petrol prices. Their margin has moved up from
Rs 7.90 per litre to Rs 12.43 since November when blending was reintroduced.
BSNL, RCom bear initial brunt of mobile number portability (BL)
BSNL and RCom have emerged the biggest losers as a result of Mobile Number
Portability. BSNL lost 20,000 subscribers and RCom lost 13,500 as on January 16.
U.S. eases some high-tech export curbs on India (Reuters)
The U.S. Commerce Department is easing certain controls on exports of hi-tech
goods to India, stemming from an agreement Barack Obama made in November.
Union Bank profit growth muted by higher provisions (BL)
A sharp jump in provisions towards sticky assets tempered the profitability of Union
Bank of India in the third quarter. It reported a net profit of Rs 580 crore, up 8%.
Indian Bank net up 11% on growth in core biz income (BL)
Indian Bank's net profit rose 11 per cent to Rs 491 crore in the quarter ended
December, as against Rs 441 crore in the corresponding quarter last year.
SKS Microfinance Oct-Dec net down 38.41 pct (Reuters)
SKS Microfinance, India's largest microfinance lender, posted a 38 percent drop in
net profit for Oct-Dec to 341.55 million rupees on total income of 3.85 billion rupees.
Godrej Inds Q3 net jumps 39 pct boosted by chem biz (Reuters)
Godrej Industries consolidated net profit rose 39 percent to 610 million rupees in the
December quarter, supported by strong growth in chemicals business.
Sterlite plant gets state pollution board nod (Reuters)
Tamil Nadu Pollution Control Board has said Sterlite Industries has met the necessary
requirements at its Tuticorin copper smelter, a court document on Monday showed.
Oil Ministry sets 11 preconditions for Vedanta-Cairn deal (ET)
The Oil Ministry is ready to give "in-principle" approval for Vedanta Resources' $9.6
billion acquisition of Cairn India, if the mining firm agrees to a set of 11 preconditions.
IMF sees global growth in 2011 just under 4.75 pct (Reuters)
The International Monetary Fund expects global economic growth in 2011 to be just
slightly slower than last year's rate of 4.75 percent, its deputy managing director said.
Spanish Banks' Capital Shortfall Not Exceeding $27 Bn (Bloomberg Finance LP)
Finance Minister said the amount needed to recapitalize Spain’s banking system
won’t exceed 20 billion euros and “all or part” will come from financial markets.
Sarkozy Seeks Smaller Group to Address Curncy Issues (Bloomberg Finance LP)
French President wants to persuade the Group of 20 nations to establish a smaller
forum to address global currency issues because the larger body is too unwieldy.
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