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Economy News
4 Food inflation, based on the annual Wholesale Price Index, rose 15.52 per
cent during the week ended January 8, lower than the previous week's
annual rise of 16.91 per cent. Fuel inflation was steady at 11.53 per cent
(BS).
4 The Government of India has mopped up Rs.221.5 bn till the end of
December 2010 through the public offerings (BS).
4 The Centre is examining the state governments demand to lower prices
of wheat sold through the Open Market Sale Scheme (OMSS) to retail
consumers (ET)
4 Oil ministry has ruled out any increase in diesel prices, even though oil
companies are losing Rs.7 per litre on sales of the transport fuel (ET).
4 The Foreign Investment Promotion Board (FIPB) will meet on February 4
to consider requests by different companies to bring in FDI in the country
amidst slowdown in the inflows (ET).
Corporate News
4 Amtek Auto has formed a joint venture (JV) with South Korean auto
maker Autech Corporation to manufacture vehicles for defence, paramedial, fire fighting and waste management sectors (ET).
4 Fortis Healthcare is working on an expansion plan that could lead to the
addition of more than a dozen hospitals to its existing network over the
next two years (ET).
4 Punj Lloyd Group, has bagged three oil and gas contracts in India, Oman
and Indonesia worth 6.5 bn (ET).
4 After registering encouraging data from oral insulin trials, Biocon is
looking to partner on this with global pharma firms. It is also reinventing
research arms Syngene and Clinigene with more value addition and
partnership-based research (BS).
4 The Air India board, which met today, has mandated ICICI Bank to refinance the Rs.55 bn loan to buy 21 Airbus A 320 family aircraft (BS).
4 The country's largest software exporter Tata Consultancy Services will
spend at least Rs.3 bn less than its budgeted capital expenditure in the
current fiscal (BL).
4 Agila Specialties, the subsidiary of Strides Arcolab Ltd, said it was
starting a Brazilian joint venture with BioChimico to enter the hospitalbased anaesthetics and high-end injections segment there (BL).
4 Zuari Industries Ltd has launched a high-tech Soil Testing Laboratory
here on Wednesday. It is the third such lab, after the ones in Pune and
Bangalore (BL).
4 McNally Bharat Engineering Company Ltd has received a Rs.1.08 bn
order for turnkey commissioning of the conveyor system at the coal
handling terminal of Karaikal Port (BL).
4 Rural Electrification Corporation said on Thursday it has raised $500
million through an overseas bond issue. The bonds, which were sold at a
fixed coupon of 4.25 per cent, were subscribed almost three times (BL).
News Round-up
` Food inflation slid for the second week in a row, falling to 15.52% for the week
ended January 8. (BSTD)
` The govt. may not bring in a law to regulate microfinance institutions in the country
as a panel appointed by RBI has already proposed a road map for the sector,
according to finance ministry official. (ECNT)
` ONGC's (ONGC IN) USD 2.88bn public issue is likely to be deferred to the next fiscal,
making it second equity offering to be a casualty of crude oil's ascent to nearly USD
100 a barrel. (ECNT)
` Dr Reddy's Laboratories (DRRD IN) launched Pantoprazole sodium delayed-release
tablets in the US market. (THBL)
` Amtek Auto (AMTK IN) has formed a JV with South Korean automaker Autech Corp.
to manufacture vehicles for defence, para-medical, fire fighting & waste management
sectors to capitalize on the booming demand for specialized vehicles. (ECNT)
` Punj Lloyd (PUNJ IN) has bagged three oil & gas contracts in India, Oman & Indonesia
worth USD 143.33mn. (ECNT)
` The Aditya Birla Group is in acquisition mode again. It appears set to acquire US
carbon black manufacturer Columbian Chemicals for USD 900 mn. (BSTD)
` Mangalore Refinery and Petrochemicals (MRPL IN) plans to increase refining capacity
by 27% to 15 mn metric tones a year, starting December. (BSTD)
` Strides Arcolab (STR IN) said its wholly-owned subsidiary Agila Specialities had signed
an agreement with BioChimico of Brazil to set up a 52:48 joint venture company for
the Brazillian hospital market, in which BioChimico and Agila will transfer selected
Brazilian IPs (intellectual property rights) to the joint venture to market products.
(BSTD)
` TTK Prestige (TTKPT IN) plans to invest USD 56 mn in its kitchenware range over a
period of 20-months. (FNLE)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Food inflation, based on the annual Wholesale Price Index, rose 15.52 per
cent during the week ended January 8, lower than the previous week's
annual rise of 16.91 per cent. Fuel inflation was steady at 11.53 per cent
(BS).
4 The Government of India has mopped up Rs.221.5 bn till the end of
December 2010 through the public offerings (BS).
4 The Centre is examining the state governments demand to lower prices
of wheat sold through the Open Market Sale Scheme (OMSS) to retail
consumers (ET)
4 Oil ministry has ruled out any increase in diesel prices, even though oil
companies are losing Rs.7 per litre on sales of the transport fuel (ET).
4 The Foreign Investment Promotion Board (FIPB) will meet on February 4
to consider requests by different companies to bring in FDI in the country
amidst slowdown in the inflows (ET).
Corporate News
4 Amtek Auto has formed a joint venture (JV) with South Korean auto
maker Autech Corporation to manufacture vehicles for defence, paramedial, fire fighting and waste management sectors (ET).
4 Fortis Healthcare is working on an expansion plan that could lead to the
addition of more than a dozen hospitals to its existing network over the
next two years (ET).
4 Punj Lloyd Group, has bagged three oil and gas contracts in India, Oman
and Indonesia worth 6.5 bn (ET).
4 After registering encouraging data from oral insulin trials, Biocon is
looking to partner on this with global pharma firms. It is also reinventing
research arms Syngene and Clinigene with more value addition and
partnership-based research (BS).
4 The Air India board, which met today, has mandated ICICI Bank to refinance the Rs.55 bn loan to buy 21 Airbus A 320 family aircraft (BS).
4 The country's largest software exporter Tata Consultancy Services will
spend at least Rs.3 bn less than its budgeted capital expenditure in the
current fiscal (BL).
4 Agila Specialties, the subsidiary of Strides Arcolab Ltd, said it was
starting a Brazilian joint venture with BioChimico to enter the hospitalbased anaesthetics and high-end injections segment there (BL).
4 Zuari Industries Ltd has launched a high-tech Soil Testing Laboratory
here on Wednesday. It is the third such lab, after the ones in Pune and
Bangalore (BL).
4 McNally Bharat Engineering Company Ltd has received a Rs.1.08 bn
order for turnkey commissioning of the conveyor system at the coal
handling terminal of Karaikal Port (BL).
4 Rural Electrification Corporation said on Thursday it has raised $500
million through an overseas bond issue. The bonds, which were sold at a
fixed coupon of 4.25 per cent, were subscribed almost three times (BL).
News Round-up
` Food inflation slid for the second week in a row, falling to 15.52% for the week
ended January 8. (BSTD)
` The govt. may not bring in a law to regulate microfinance institutions in the country
as a panel appointed by RBI has already proposed a road map for the sector,
according to finance ministry official. (ECNT)
` ONGC's (ONGC IN) USD 2.88bn public issue is likely to be deferred to the next fiscal,
making it second equity offering to be a casualty of crude oil's ascent to nearly USD
100 a barrel. (ECNT)
` Dr Reddy's Laboratories (DRRD IN) launched Pantoprazole sodium delayed-release
tablets in the US market. (THBL)
` Amtek Auto (AMTK IN) has formed a JV with South Korean automaker Autech Corp.
to manufacture vehicles for defence, para-medical, fire fighting & waste management
sectors to capitalize on the booming demand for specialized vehicles. (ECNT)
` Punj Lloyd (PUNJ IN) has bagged three oil & gas contracts in India, Oman & Indonesia
worth USD 143.33mn. (ECNT)
` The Aditya Birla Group is in acquisition mode again. It appears set to acquire US
carbon black manufacturer Columbian Chemicals for USD 900 mn. (BSTD)
` Mangalore Refinery and Petrochemicals (MRPL IN) plans to increase refining capacity
by 27% to 15 mn metric tones a year, starting December. (BSTD)
` Strides Arcolab (STR IN) said its wholly-owned subsidiary Agila Specialities had signed
an agreement with BioChimico of Brazil to set up a 52:48 joint venture company for
the Brazillian hospital market, in which BioChimico and Agila will transfer selected
Brazilian IPs (intellectual property rights) to the joint venture to market products.
(BSTD)
` TTK Prestige (TTKPT IN) plans to invest USD 56 mn in its kitchenware range over a
period of 20-months. (FNLE)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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