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News headlines: Corporate
‰ Reliance Communications has raised US$255m by way of
external commercial borrowing to partly refinance payments made
for acquiring 3G (third generation) spectrum. (BL)
‰ The government’s upstream oil companies, ONGC) and Oil India
will reportedly have to fork out 20% more subsidy in 3QFY11 to
compensate oil marketing companies (OMCs) for their losses on
fuel. (BS)
‰ Gail India plans to raise Rs35bn from market as part of its
Rs70bn capital expenditure plan in the next financial year. (BS)
‰ TCS plans to hire 37,000 engineers from campuses for FY12. (BS)
‰ Essar Energy has announced the launch of an offering of
approximately US$500m of convertible bonds, due 2016. (BS)
News headlines: Economic and political
‰ According to the data released by the Directorate General of Civil
Aviation (DGCA), domestic airlines carried 5.2m passengers in
December, up 16% YoY. (BL)
‰ The reshuffle of the union council of ministers is expected to
happen today. (ET)
‰ The ministry of environment & forests (MoEF) agreed to consider
clearance to the Lavasa project subject to stringent conditions.
(BS)
News headlines: Corporate
‰ UK-based Pearson Group has acquired a controlling stake in
online tutorial TutorVista Global for Rs5.8bn. (BL)
‰ Vodafone Group Plc has objected to the method adopted by
the Essar group to reverse-list Essar Telecommunications
Holding Pvt Ltd, in order to discover the market price of
shares of Vodafone Essar. (DNA Money)
‰ Bombay High Court has set aside a Maharashtra Government
directive that asked Tata Power to supply 360 MW power to RInfra. (ET)
‰ GAIL reported 3QFY11 net profit of Rs9.7bn, up 13%. (ET)
‰ MindTree reported 3QFY11 net profit of Rs305m, down 43%. (BS)
‰ Cadila reported 3QFY11 net profit of Rs1.6bn, up 25%. (ET)
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