Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Prime Minister Manmohan Singh shuffled his team on Wednesday, in a
modest exercise focused on economic ministries that did not involve any
dismissals, although a few ministers were downsized. Three were
elevated to cabinet rank. Prime Minister said "This is a minor reshuffle.
We will do a major reshuffle after the budgt session". (ET)
4 The Malegam Committee, set up by Reserve Bank of India (RBI),
recommended a 24-per cent interest rate cap on microfinance loans to
individuals. It also suggested creating a new category of non-banking
finance companies: NBFC-MFI. (BS)
4 Indian Railways has seen a major erosion of finances during the current
financial year, ending March. Railways' earnings, from freight and
passenger traffic put together, have taken a hit of over Rs 40bn between
April and December 2010. (BS)
4 Prime Minister Manmohan Singh is slated to flag off the nationwide
rollout of mobile number portability today, a move that will allow users
to switch operators without losing their phone numbers and will force
telcos to improve the quality of services. (ET)
4 India is expected to sign defence offsets contracts worth over Rs 460bn in
the next five to ten years. "In the 11th Plan, the value of offsets
contracts is likely to be more than Rs 100bn. In addition, (offsets worth)
Rs 48bn are at the contract negotiation stage and Rs 315bn are at other
stages," Minister of State for Defence M M Pallam Raju said. (ET)
Corporate News
4 Public sector power generator NTPC will defer the opening of commercial
bids in the tender for the supply supercritical boilers — a consequence of
Ansaldo going to the Court against the power major. Ansaldo was
disqualified on technical grounds and BHEL, L&T-MHI and BGR-Hitachi
had made it to the commercial bid round in equipment supplier selection
process. (BL)
4 PowerGrid Corporation of India, has won a Rs 16bn project to develop
the transmission system of Jharkhand. "The company is expected to sign
an agreement with Jharkhand State Electricity Board in the next few
weeks," a Power-Grid official said. "The project is expected to come up in
the next 18 months." PowerGrid would set up 1,000 kms of transmission
lines and 10 sub-stations in the state. (ET)
4 HPCL has recast its plans for the Maharashtra refinery scheduled for
commissioning near Chiplun (Ratnagiri district) post-2015.Originally
conceived as a 15 million tonne project at a capital outlay of Rs.300 bn, it
will now kick off with a capacity of nine million tonnes. "The idea is to get
it off the ground by 2016 and then double capacity to 18 million tonnes.
This expansion should ideally happen sometime by 2020," Mr S. Roy
Choudhury, Chairman and Managing Director of HPCL. (BL)
4 Air India has mandated ICICI Bank for the re-financing of loans to
purchase 21 Airbus 320 aircraft valued at Rs 55bn. The decision was
taken at the Board meeting of the national carrier held in Mumbai on
Wednesday.(BL)
4 Amidst media reports that Essar group is close to acquiring Royal Dutch
Shell's 9 mn tonne Stanlow refinery in the UK, Essar has successfully
closed its USD 500 million convertible bond issue Wednesday. The
company confirmed that it is in talks with Shell to acquire its Stanlow
refinery. (ET)
News Round-up
` The Malegam Committee set up by RBI recommended a 24% interest rate cap on
microfinance loans to individuals. It also suggested creating a new category of nonbanking finance companies: NBFC-MFI. (BSTD)
` Indian Bank (INBK IN) expects to raise USD 33 mn through a follow-on public issue,
which is likely to hit the market in July. (THBL)
` Rolta (RLTA IN) said it had sold its 50% stake in Shaw Rolta (SWRL) to its joint venture
partner Stone & Webster, a subsidiary of the Shaw Group, Inc, for USD 36 mn.
(BSTD)
` Brunner Mond, part of Tata Chemicals (TTCH IN), has received the requisite
regulatory approvals to complete the acquisition of Cheshire Salt Holdings Ltd (CSHL),
parent company of British Salt. (FNLE)
` The board of Hindustan Zinc (HZ IN) has approved issue of 1:1 bonus shares and 1:5
stock split. The company's one equity share of face value INR 10 each will be subdivided into 5 equity shares of INR 2 each. The above bonus and stock splits will be
subject to approval of shareholders. (FNLE)
` Ashok Leyland (AL IN) bags USD 10 mn order from VRL Logistics. (THBL)
` HPCL (HPCL IN) recasts plan for Maharashtra refinery. Targets 41 mt capacity by
2016. (THBL)
` HCL Infosystems (HCLI IN) sold its entire stake in its internet service provider
subsidiary, HCL Infinet, to broadband services co., Tikona Digital Networks. (ECNT)
` RCom (RCOM IN) has raised USD 255mn of external commercial borrowing (ECB) to
partly refinance payments made for acquiring 3G airwaves. (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 Prime Minister Manmohan Singh shuffled his team on Wednesday, in a
modest exercise focused on economic ministries that did not involve any
dismissals, although a few ministers were downsized. Three were
elevated to cabinet rank. Prime Minister said "This is a minor reshuffle.
We will do a major reshuffle after the budgt session". (ET)
4 The Malegam Committee, set up by Reserve Bank of India (RBI),
recommended a 24-per cent interest rate cap on microfinance loans to
individuals. It also suggested creating a new category of non-banking
finance companies: NBFC-MFI. (BS)
4 Indian Railways has seen a major erosion of finances during the current
financial year, ending March. Railways' earnings, from freight and
passenger traffic put together, have taken a hit of over Rs 40bn between
April and December 2010. (BS)
4 Prime Minister Manmohan Singh is slated to flag off the nationwide
rollout of mobile number portability today, a move that will allow users
to switch operators without losing their phone numbers and will force
telcos to improve the quality of services. (ET)
4 India is expected to sign defence offsets contracts worth over Rs 460bn in
the next five to ten years. "In the 11th Plan, the value of offsets
contracts is likely to be more than Rs 100bn. In addition, (offsets worth)
Rs 48bn are at the contract negotiation stage and Rs 315bn are at other
stages," Minister of State for Defence M M Pallam Raju said. (ET)
Corporate News
4 Public sector power generator NTPC will defer the opening of commercial
bids in the tender for the supply supercritical boilers — a consequence of
Ansaldo going to the Court against the power major. Ansaldo was
disqualified on technical grounds and BHEL, L&T-MHI and BGR-Hitachi
had made it to the commercial bid round in equipment supplier selection
process. (BL)
4 PowerGrid Corporation of India, has won a Rs 16bn project to develop
the transmission system of Jharkhand. "The company is expected to sign
an agreement with Jharkhand State Electricity Board in the next few
weeks," a Power-Grid official said. "The project is expected to come up in
the next 18 months." PowerGrid would set up 1,000 kms of transmission
lines and 10 sub-stations in the state. (ET)
4 HPCL has recast its plans for the Maharashtra refinery scheduled for
commissioning near Chiplun (Ratnagiri district) post-2015.Originally
conceived as a 15 million tonne project at a capital outlay of Rs.300 bn, it
will now kick off with a capacity of nine million tonnes. "The idea is to get
it off the ground by 2016 and then double capacity to 18 million tonnes.
This expansion should ideally happen sometime by 2020," Mr S. Roy
Choudhury, Chairman and Managing Director of HPCL. (BL)
4 Air India has mandated ICICI Bank for the re-financing of loans to
purchase 21 Airbus 320 aircraft valued at Rs 55bn. The decision was
taken at the Board meeting of the national carrier held in Mumbai on
Wednesday.(BL)
4 Amidst media reports that Essar group is close to acquiring Royal Dutch
Shell's 9 mn tonne Stanlow refinery in the UK, Essar has successfully
closed its USD 500 million convertible bond issue Wednesday. The
company confirmed that it is in talks with Shell to acquire its Stanlow
refinery. (ET)
News Round-up
` The Malegam Committee set up by RBI recommended a 24% interest rate cap on
microfinance loans to individuals. It also suggested creating a new category of nonbanking finance companies: NBFC-MFI. (BSTD)
` Indian Bank (INBK IN) expects to raise USD 33 mn through a follow-on public issue,
which is likely to hit the market in July. (THBL)
` Rolta (RLTA IN) said it had sold its 50% stake in Shaw Rolta (SWRL) to its joint venture
partner Stone & Webster, a subsidiary of the Shaw Group, Inc, for USD 36 mn.
(BSTD)
` Brunner Mond, part of Tata Chemicals (TTCH IN), has received the requisite
regulatory approvals to complete the acquisition of Cheshire Salt Holdings Ltd (CSHL),
parent company of British Salt. (FNLE)
` The board of Hindustan Zinc (HZ IN) has approved issue of 1:1 bonus shares and 1:5
stock split. The company's one equity share of face value INR 10 each will be subdivided into 5 equity shares of INR 2 each. The above bonus and stock splits will be
subject to approval of shareholders. (FNLE)
` Ashok Leyland (AL IN) bags USD 10 mn order from VRL Logistics. (THBL)
` HPCL (HPCL IN) recasts plan for Maharashtra refinery. Targets 41 mt capacity by
2016. (THBL)
` HCL Infosystems (HCLI IN) sold its entire stake in its internet service provider
subsidiary, HCL Infinet, to broadband services co., Tikona Digital Networks. (ECNT)
` RCom (RCOM IN) has raised USD 255mn of external commercial borrowing (ECB) to
partly refinance payments made for acquiring 3G airwaves. (ECNT) '
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
No comments:
Post a Comment