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News Headlines
Vodafone, Bharti slam 2G spectrum proposals (Reuters)
The Telecom Regulatory Authority of India (TRAI) proposed steep rises in the price of
second-generation (2G) mobile radio waves, drawing criticism from carriers Bharti
Airtel and Vodafone Essar who could pay hundreds of millions of dollars more.
Ambani Group Blames `Illegal Trading', Seeks Probe (Bloomberg Finance LP)
Anil Ambani’s group asked India’s stock exchange and regulator to investigate “illegal
trading” after shares in its telecoms, power and infrastructure companies plunged
the most in more than a year.
Budget to extend software sops, hike I-T exemption (BS)
Tax incentives to software companies are set to continue next year, with a change in
the basis of benefits from profit-linked to investment-linked.
Bank credit offtake up 23.4%: RBI (ET)
Credit offtake from public and private sector banks in the country grew by 23.4% for
the one-year period ended January 28, indicating an upswing in industrial activity.
Rangarajan endorses CSO's 8.6% growth estimate (BL)
Indian economy is likely to grow by 8.6 per cent this fiscal, Dr C. Rangarajan,
Chairman of the Prime Minister's Economic Advisory Council, said.
Egypt crisis may fuel oil prices: Rangarajan (BS)
The crisis in Egypt might fuel oil prices temporarily and RBI would continue to tighten
money supply to tame inflation, chairman of the Economic advisory panel said.
India eyes bumper grains output, may dampen inflation (Reuters)
India may harvest its second highest amount ever of food grains in 2010/11, including
a record 81.47 million tonnes wheat, its farm minister said on Wednesday.
Jan car sales at record; growth seen slowing (Reuters)
Auto sales in India hit a record high in January, defying expectations of a slowdown,
powered by a growing middle class, easier access to loans and a wider choice of
models. Vehicle sales in India grew 31 percent in 2010.
TRAI: 1.71 mln users opt for mobile number portability (Reuters)
India's telecoms regulator on Tuesday said about 1.71 million mobile users have
opted to switch operators while retaining their numbers by Feb. 5.
Sterlite bags Rs 2,900-cr transmission package (BL)
Sterlite Transmission Projects has bagged the biggest transmission project to be
awarded through the competitive bidding route in the country.
REC Q3 net profit up 40.08% to Rs 664.09 cr (ET)
State-run Rural Electrification Corporation posted a 40.08% growth in net profit at Rs
664.09 crore for the quarter ended December 31.
United Spirits Oct-Dec net up 34% (ET)
United Spirits posted a net profit of 1.3 billion rupees for the three months ended
Dec 31, from 0.97 billion last year. Net sales rose to Rs 19.6 bn from Rs 13.47 bn.
United Breweries Holdings Q3 net falls 89 pc to Rs 8.86 cr (ET)
United Breweries posted 89.4 per cent decline in its net profit at Rs 8.86 crore for the
quarter ended December. Net sales dipped 4.96 per cent at Rs 82.69 crore.
MOIL net profit marginally up by 2.8% (ET)
State owned MOIL Limited reported net profit of Rs 124 crore for the quarter ending
December 31, 2010, registering a marginal increase of 2.8 per cent.
Patni Computer Q4 net income dips 2.71% to Rs 177.3 cr (ET)
Patni Computer Systems reported a decline of of 2.71 per cent in net income for the
quarter ended December 31, 2010, to USD 39.4 million.
CIL may buy 15% stake in Peabody's Australia assets for $100mn (ET)
Coal India may buy up to a 15% stake in US-based Peabody Energy Corp's Australian
assets early next fiscal for an estimated USD 100 million, an official said.
U.K. Food-Price Inflation Soars in January (Bloomberg Finance LP)
U.K. food inflation accelerated to the fastest pace in 19 months in January, pointing
to strengthening price pressures in the economy.
Bernanke: U.S. job growth, inflation still too low (Reuters)
Fed Reserve Chairman suggested U.S. economic conditions are still too weak to pull
back on its vast monetary stimulus, despite a welcome drop in the jobless rate.
Japan's Machinery Orders Rise for First Month in Four (Bloomberg Finance LP)
Japanese machinery orders rose for the first time in four months in December, a sign
that companies will increase spending to meet demand from abroad.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Vodafone, Bharti slam 2G spectrum proposals (Reuters)
The Telecom Regulatory Authority of India (TRAI) proposed steep rises in the price of
second-generation (2G) mobile radio waves, drawing criticism from carriers Bharti
Airtel and Vodafone Essar who could pay hundreds of millions of dollars more.
Ambani Group Blames `Illegal Trading', Seeks Probe (Bloomberg Finance LP)
Anil Ambani’s group asked India’s stock exchange and regulator to investigate “illegal
trading” after shares in its telecoms, power and infrastructure companies plunged
the most in more than a year.
Budget to extend software sops, hike I-T exemption (BS)
Tax incentives to software companies are set to continue next year, with a change in
the basis of benefits from profit-linked to investment-linked.
Bank credit offtake up 23.4%: RBI (ET)
Credit offtake from public and private sector banks in the country grew by 23.4% for
the one-year period ended January 28, indicating an upswing in industrial activity.
Rangarajan endorses CSO's 8.6% growth estimate (BL)
Indian economy is likely to grow by 8.6 per cent this fiscal, Dr C. Rangarajan,
Chairman of the Prime Minister's Economic Advisory Council, said.
Egypt crisis may fuel oil prices: Rangarajan (BS)
The crisis in Egypt might fuel oil prices temporarily and RBI would continue to tighten
money supply to tame inflation, chairman of the Economic advisory panel said.
India eyes bumper grains output, may dampen inflation (Reuters)
India may harvest its second highest amount ever of food grains in 2010/11, including
a record 81.47 million tonnes wheat, its farm minister said on Wednesday.
Jan car sales at record; growth seen slowing (Reuters)
Auto sales in India hit a record high in January, defying expectations of a slowdown,
powered by a growing middle class, easier access to loans and a wider choice of
models. Vehicle sales in India grew 31 percent in 2010.
TRAI: 1.71 mln users opt for mobile number portability (Reuters)
India's telecoms regulator on Tuesday said about 1.71 million mobile users have
opted to switch operators while retaining their numbers by Feb. 5.
Sterlite bags Rs 2,900-cr transmission package (BL)
Sterlite Transmission Projects has bagged the biggest transmission project to be
awarded through the competitive bidding route in the country.
REC Q3 net profit up 40.08% to Rs 664.09 cr (ET)
State-run Rural Electrification Corporation posted a 40.08% growth in net profit at Rs
664.09 crore for the quarter ended December 31.
United Spirits Oct-Dec net up 34% (ET)
United Spirits posted a net profit of 1.3 billion rupees for the three months ended
Dec 31, from 0.97 billion last year. Net sales rose to Rs 19.6 bn from Rs 13.47 bn.
United Breweries Holdings Q3 net falls 89 pc to Rs 8.86 cr (ET)
United Breweries posted 89.4 per cent decline in its net profit at Rs 8.86 crore for the
quarter ended December. Net sales dipped 4.96 per cent at Rs 82.69 crore.
MOIL net profit marginally up by 2.8% (ET)
State owned MOIL Limited reported net profit of Rs 124 crore for the quarter ending
December 31, 2010, registering a marginal increase of 2.8 per cent.
Patni Computer Q4 net income dips 2.71% to Rs 177.3 cr (ET)
Patni Computer Systems reported a decline of of 2.71 per cent in net income for the
quarter ended December 31, 2010, to USD 39.4 million.
CIL may buy 15% stake in Peabody's Australia assets for $100mn (ET)
Coal India may buy up to a 15% stake in US-based Peabody Energy Corp's Australian
assets early next fiscal for an estimated USD 100 million, an official said.
U.K. Food-Price Inflation Soars in January (Bloomberg Finance LP)
U.K. food inflation accelerated to the fastest pace in 19 months in January, pointing
to strengthening price pressures in the economy.
Bernanke: U.S. job growth, inflation still too low (Reuters)
Fed Reserve Chairman suggested U.S. economic conditions are still too weak to pull
back on its vast monetary stimulus, despite a welcome drop in the jobless rate.
Japan's Machinery Orders Rise for First Month in Four (Bloomberg Finance LP)
Japanese machinery orders rose for the first time in four months in December, a sign
that companies will increase spending to meet demand from abroad.
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