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Economy News
4 Rising oil prices and firming up of global and domestic food prices are
likely to have a significant impact on inflation outlook in 2011 (ET).
4 After registering positive growth for three months in a row, India's
apparel exports again slipped about 3% to $716 million in November
year-on-year, due to less demand from the West and rising input cost
(ET).
4 The power capacity addition during the first nine months of the current
fiscal has surpassed the record 9,585 MW achieved in 2009-10 (BL).
Corporate News
4 Larsen & Toubro (L&T) may sell stake in its infotech subsidiary after
failing to turn it into a bigger business, by its planned buy out of Satyam
Computer Services in 2009,a number of persons familiar with the
development told ET (ET).
4 Power Finance Corporation (PFC) is likely to have the.70 bn follow-on
public offer in April or May this year (ET).
4 Kingfisher Airlines will add eight aircraft to its fleet by October in order
to arrest a slide in market share. The aircraft will be taken on lease from
the market (ET).
4 Reliance Power plans to expand four large coal-fired power projects by
50% to generate an additional 8,000 megawatts (mw) of power, which
may be sold at more attractive merchant rates (ET).
4 Hindustan Construction Corporation's hopes on a compromise with
the Union ministry of environment and forests on the stalled Lavasa hill
city project near Pune (BS)
4 Responding to the arbitration panel's ruling that struck down Sterlite
Industries' call option to acquire the remaining 49 per cent stake in
Bharat Aluminium Company (Balco), the Vedanta Group company is
considering the next course of action (BS).
4 Mahindra & Mahindra launched the Genio, a pick-up vehicle based on
the Xylo model, with an introductory price tag of Rs 0.5 mn (exshowroom,
Navi Mumbai) for the Bharat Stage (BS) III variant.
4 BEML Limited has concluded wage settlement with its employees unions
at Bangalore, Mysore, KGF complexes and marketing division at the
corporate office in Bangalore.
4 Cummins Inc. has announced that it has entered into an agreement to
sell its exhaust business to Global Tube, a portfolio company of Wind
Point Partners, a private equity firm in Chicago (BS).
4 Reliance Communications (RCom) launched its 3G services in the
Himachal Pradesh state earlier this week. By the end of this week, RCom
will commercially offer 3G services to customers in this area (BS).
News Round-up
The govt. has revived a proposal that seeks to give Indian cos. easier access to the US
equity markets through American depository receipts (ADRs), with foreign direct
investment in the country slowing down. (ECNT)
Dearer vegetables marginally nudged up food inflation to 15.57% for the week
ended January 15. (BSTD)
ONGC (ONGC IN) has struck shale gas reserves in its maiden well in West Bengal.
(BSTD)
Oil India (OINL IN) will relinquish two exploration blocks in Libya which are not viable.
(BSTD)
NTPC (NATP IN) is set to offer 20% stake in its renewable energy joint venture with
ADB and Kyuden International Corporation (Kyushu) to Qatar Investment Authority
(QIA) as part of its strategy to get secured supply of gas for its fuel-starved power
stations. (FNLE)
Reliance Retail to set up 20 Hamley stores in 7 years. (FNLE)
HCL Technologies (HCLT IN) entered into a partnership with Indonesia's Lippo Group
to offer IT outsourcing in that country. (FNLE)
Kajaria Ceramics (KJC IN) has entered into a pact with Turnkey-based Eczacibasi for
marketing and sales of VitrA brand products in India. (FNLE)
L&T (LT IN) may sell stake in its infotech subsidiary after failing to turn it into a bigger
business. (ECNT)
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 Rising oil prices and firming up of global and domestic food prices are
likely to have a significant impact on inflation outlook in 2011 (ET).
4 After registering positive growth for three months in a row, India's
apparel exports again slipped about 3% to $716 million in November
year-on-year, due to less demand from the West and rising input cost
(ET).
4 The power capacity addition during the first nine months of the current
fiscal has surpassed the record 9,585 MW achieved in 2009-10 (BL).
Corporate News
4 Larsen & Toubro (L&T) may sell stake in its infotech subsidiary after
failing to turn it into a bigger business, by its planned buy out of Satyam
Computer Services in 2009,a number of persons familiar with the
development told ET (ET).
4 Power Finance Corporation (PFC) is likely to have the.70 bn follow-on
public offer in April or May this year (ET).
4 Kingfisher Airlines will add eight aircraft to its fleet by October in order
to arrest a slide in market share. The aircraft will be taken on lease from
the market (ET).
4 Reliance Power plans to expand four large coal-fired power projects by
50% to generate an additional 8,000 megawatts (mw) of power, which
may be sold at more attractive merchant rates (ET).
4 Hindustan Construction Corporation's hopes on a compromise with
the Union ministry of environment and forests on the stalled Lavasa hill
city project near Pune (BS)
4 Responding to the arbitration panel's ruling that struck down Sterlite
Industries' call option to acquire the remaining 49 per cent stake in
Bharat Aluminium Company (Balco), the Vedanta Group company is
considering the next course of action (BS).
4 Mahindra & Mahindra launched the Genio, a pick-up vehicle based on
the Xylo model, with an introductory price tag of Rs 0.5 mn (exshowroom,
Navi Mumbai) for the Bharat Stage (BS) III variant.
4 BEML Limited has concluded wage settlement with its employees unions
at Bangalore, Mysore, KGF complexes and marketing division at the
corporate office in Bangalore.
4 Cummins Inc. has announced that it has entered into an agreement to
sell its exhaust business to Global Tube, a portfolio company of Wind
Point Partners, a private equity firm in Chicago (BS).
4 Reliance Communications (RCom) launched its 3G services in the
Himachal Pradesh state earlier this week. By the end of this week, RCom
will commercially offer 3G services to customers in this area (BS).
News Round-up
The govt. has revived a proposal that seeks to give Indian cos. easier access to the US
equity markets through American depository receipts (ADRs), with foreign direct
investment in the country slowing down. (ECNT)
Dearer vegetables marginally nudged up food inflation to 15.57% for the week
ended January 15. (BSTD)
ONGC (ONGC IN) has struck shale gas reserves in its maiden well in West Bengal.
(BSTD)
Oil India (OINL IN) will relinquish two exploration blocks in Libya which are not viable.
(BSTD)
NTPC (NATP IN) is set to offer 20% stake in its renewable energy joint venture with
ADB and Kyuden International Corporation (Kyushu) to Qatar Investment Authority
(QIA) as part of its strategy to get secured supply of gas for its fuel-starved power
stations. (FNLE)
Reliance Retail to set up 20 Hamley stores in 7 years. (FNLE)
HCL Technologies (HCLT IN) entered into a partnership with Indonesia's Lippo Group
to offer IT outsourcing in that country. (FNLE)
Kajaria Ceramics (KJC IN) has entered into a pact with Turnkey-based Eczacibasi for
marketing and sales of VitrA brand products in India. (FNLE)
L&T (LT IN) may sell stake in its infotech subsidiary after failing to turn it into a bigger
business. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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