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Corporate Front Page:
- iGate has acquired ~63% stake in Patni Computer Systems for US$1.22bn. (ET)
- Tata Steel plans to raise Rs35bn-50bn via follow-on public offer (FPO). (BS)
- Reliance Industries has opposed the proposal of a new pipeline from Kakinada to Srikakulam floated by Andhra Pradesh Gas Infrastructure Corporation (APGIC). (BS)
- The Hero group plans to enter the three-wheeler business, pitting itself against market leader Bajaj Auto. (ET)
- Edelweiss Capital said its subsidiary is targeting to lend about Rs50bn for retail housing over the next five years. (ET)
- Sterlite Technologies has arranged Rs7bn worth of funds for its mega transmission project connecting North-east with the Northern states India. (ET)
- ONGC has demanded that the royalty it pays on crude from Cairn's oilfields in Rajasthan be added to the project cost. (ET)
- Tata DOCOMO, the GSM brand of Tata Teleservices has rolled out its new 'T24' mobile service in Gujarat. (ET)
- IVRCL Infra is in talks with potential bidders to offload its 55% stake in Hindustan Dorr-Oliver. (ET)
- SBI Chairman O P Bhatt said the RBI might raise interest rates by 25-50 basis points. (BS)
- Reliance Power signed a power purchase agreement with NTPC Vidyut Vyapar Nigam for a 100MW solar thermal power project in Rajasthan. (BS)
- Greaves Cotton has won a 10-year contract from Tata Motors to supply small diesel engines for its new half-ton truck — Ace Zip. (ET)
- Transport Corporation of India has entered into a pact with CONCOR to float a 51:49 joint venture for bulk multimodal logistics solutions by both rail and road. (FE)
Economy Front Page:
- As a preemptive measure against rising food inflation, the government extended the zero-duty regime on refined and raw sugar imports by three months to March 31. (BS)
- The Supreme Court has issued notice to the Centre on the plea seeking cancellation of 2G spectrum licenses allocated during the tenure of former Telecom Minister. (ET)
- India has voluntarily sought a comprehensive Financial Sector Assessment Programme by IMF and World Bank. (ET)
- Import of sensitive products increased 14% in the April-October 2010 period with sharp increases in food grains, dairy products, automobiles, edible oil, rubber and alcoholic beverages. (ET)
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