Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Food inflation, as measured by the Wholesale Price Index (WPI), rose to
17.05% for the week ended January 22, primarily due to rising prices of
vegetables, particularly onions. Food inflation stood at 15.6% in the
previous week ended January 15, and was at 20.56 per cent during the
corresponding period in 2010. (BS)
4 India may need to import 142 mn tonnes of coal next fiscal to bridge the
estimated shortfall in domestic production, well above the 82.33 mn
tonnes of imports slated this fiscal. The Coal Minister, Mr Sriprakash
Jaiswal, said on Thursday that coal demand next fiscal is likely to be
around 696 mn tonnes, while the output is pegged at just 554 mn tonnes.
(BL)
Corporate News
4 Vedanta Resources will terminate the $9.6-billion Cairn-Vedanta deal if
Cairn India accepts the oil ministry’s conditions such as changing the
royalty obligations in the Rajasthan block, three persons with direct
knowledge of the matter said. Vedanta has also objected to the ministry
proposal to ask Cairn India to accept the government position in cases
where the company has initiated arbitration. Any change in the royalty
clause will bring down CILs (Cairn India) valuation significantly,which will
not be acceptable to shareholders of Cairn and Vedanta. (ET)
4 Sun Pharmaceutical Industries Ltd has received an approval from the
US health regulator to sell generic drug galantamine hydrobromide used
in treating mild to moderate Alzheimer’s disease in the American
market. (BL)
4 RPower expects to earn over Rs 20bn for using energy efficient and
environment friendly coal technology at its 4,000 Mw power project at
Sasan in Madhya Pradesh. The project has been registered with Clean
Development Mechanism Executive Board of United Nations Framework
Convention on Climate Change (UNFCCC) and will generate
approximately 22.5 million CERs for the initial 10 years of operation. (BS)
4 NTPC will not open price bids for the Rs 110bn bulk equipment supply
tender on Friday,after the Delhi High Court admitted a plea from
Ansaldo Caldaie,challenging its disqualification from the purchase. The
state utility would, however, initiate bidding for Rs. 190bn equipment
supply contracts for three upcoming power generation projects. (ET)
4 Chemical and manufacturing solutions provider Atul has announced
formation a 50:50 joint venture with Swiss company M Dohmen. The JV
will enable Atul to offer solutions to its customers in automotive, wool,
polyamide, dyes and textile in India and markets not reached by Dohmen.
The Swiss firm will service with sulphur, reactive and other dyes
manufactured by Atul's colours division. (BS)
4 NALCO may invest about Rs 7bn for picking up stake in two mines of
Hindustan Copper and a detailed framework on strategic alliance is
likely next week. NALCO’s due diligence for buying stakes in Hindustan
Copper’s mines at Ghatshila in Jharkhand and Malanjkhand Copper
Project in Madhya Pradesh is complete. (BL)
4 Investigating agencies probing the alleged irregularity in allocation of 2G
licences are examining a transaction in which over Rs.2bn was transferred
from DB group to Kalaignar TV, a broadcaster majority-owned by family
members of DMK party chief M Karunanidhi. Money was transferred in
fiscal 2009-10 from a subsidiary of DB Realty to Kalaignar TV and was
supposedly repaid later. The DB groups telecom arm had sold 45% to
UAE-based Etisalat for $900 million in 2009.The company, earlier known
as Swan Telecom, is now known as Etisalat-DB. (ET)
News Round-up
` Food inflation rose to 17.05% for the week ended January 22, primarily on dearer
vegetables. (BSTD)
` Bank of Baroda (BOB IN), Andhra Bank (ANDB IN) and Union Bank of India (UNBK IN)
followed their counterparts by raising their base rate by 50 bps to 9.5%. (BSTD)
` SKS Microfinance (SKSM IN) may consider pulling out of Andhra Pradesh if the state
government does not revoke its recent restrictive legislation on microfinance
institutions by April 1. Andhra Pradesh accounts for 24.5% of portfolio of SKS
Microfinance, which was around USD 1.09 bn as on December 31, 2010. (BSTD)
` Cairn Energy Plc is soon expected to ask the government to use part of its profits
from the oil production in Rajasthan to compensate ONGC (ONGC IN), which foots
the entire royalty bill on the oil output despite having only 30% stake in the project.
Compensate ONGC from USD 14 bn profit oil: Cairn. ONGC for royalty burden
proportionate to stake. (FNLE)
` Vedanta may terminate USD 9.6bn deal if Cairn India (CAIR IN) tweaks royalty clause.
Company feels any change in royalty clause will bring down Cairn's valuations
significantly. (ECNT)
` L&T Infrastructure Finance's tax-saving infrastructure bond issue to raise up-to 87 mn
will open on February 7. (THBL)
` Wipro Technologies plans to set up an exclusive delivery centre to develop software
solutions and cut down Canadian companies energy consumptions bills. (THBL)
` Reliance Power (RPWR IN) said that its 4000 MW Sasan ultra mega power project will
generate 22.5 million CER (certified emission reduction) credits, whose sale would be
over USD 435 mn in the initial 10 years of operation. (THBL)
` Karuturi Global (KARG IN) said it has acquired 58% stake in Florista India through a
share swap deal. (BSTD)
` NTPC (NATP IN) has floated bids for 800 Mw bulk supercritical units for USD 4.16 bn
even as Delhi High Court today barred it from opening price bids for an earlier tender
for 660 Mw units. NTPC orders are for 11 boilers, nine for its own projects and two
for the Damodar Valley Corporation. (BSTD)
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, as measured by the Wholesale Price Index (WPI), rose to
17.05% for the week ended January 22, primarily due to rising prices of
vegetables, particularly onions. Food inflation stood at 15.6% in the
previous week ended January 15, and was at 20.56 per cent during the
corresponding period in 2010. (BS)
4 India may need to import 142 mn tonnes of coal next fiscal to bridge the
estimated shortfall in domestic production, well above the 82.33 mn
tonnes of imports slated this fiscal. The Coal Minister, Mr Sriprakash
Jaiswal, said on Thursday that coal demand next fiscal is likely to be
around 696 mn tonnes, while the output is pegged at just 554 mn tonnes.
(BL)
Corporate News
4 Vedanta Resources will terminate the $9.6-billion Cairn-Vedanta deal if
Cairn India accepts the oil ministry’s conditions such as changing the
royalty obligations in the Rajasthan block, three persons with direct
knowledge of the matter said. Vedanta has also objected to the ministry
proposal to ask Cairn India to accept the government position in cases
where the company has initiated arbitration. Any change in the royalty
clause will bring down CILs (Cairn India) valuation significantly,which will
not be acceptable to shareholders of Cairn and Vedanta. (ET)
4 Sun Pharmaceutical Industries Ltd has received an approval from the
US health regulator to sell generic drug galantamine hydrobromide used
in treating mild to moderate Alzheimer’s disease in the American
market. (BL)
4 RPower expects to earn over Rs 20bn for using energy efficient and
environment friendly coal technology at its 4,000 Mw power project at
Sasan in Madhya Pradesh. The project has been registered with Clean
Development Mechanism Executive Board of United Nations Framework
Convention on Climate Change (UNFCCC) and will generate
approximately 22.5 million CERs for the initial 10 years of operation. (BS)
4 NTPC will not open price bids for the Rs 110bn bulk equipment supply
tender on Friday,after the Delhi High Court admitted a plea from
Ansaldo Caldaie,challenging its disqualification from the purchase. The
state utility would, however, initiate bidding for Rs. 190bn equipment
supply contracts for three upcoming power generation projects. (ET)
4 Chemical and manufacturing solutions provider Atul has announced
formation a 50:50 joint venture with Swiss company M Dohmen. The JV
will enable Atul to offer solutions to its customers in automotive, wool,
polyamide, dyes and textile in India and markets not reached by Dohmen.
The Swiss firm will service with sulphur, reactive and other dyes
manufactured by Atul's colours division. (BS)
4 NALCO may invest about Rs 7bn for picking up stake in two mines of
Hindustan Copper and a detailed framework on strategic alliance is
likely next week. NALCO’s due diligence for buying stakes in Hindustan
Copper’s mines at Ghatshila in Jharkhand and Malanjkhand Copper
Project in Madhya Pradesh is complete. (BL)
4 Investigating agencies probing the alleged irregularity in allocation of 2G
licences are examining a transaction in which over Rs.2bn was transferred
from DB group to Kalaignar TV, a broadcaster majority-owned by family
members of DMK party chief M Karunanidhi. Money was transferred in
fiscal 2009-10 from a subsidiary of DB Realty to Kalaignar TV and was
supposedly repaid later. The DB groups telecom arm had sold 45% to
UAE-based Etisalat for $900 million in 2009.The company, earlier known
as Swan Telecom, is now known as Etisalat-DB. (ET)
News Round-up
` Food inflation rose to 17.05% for the week ended January 22, primarily on dearer
vegetables. (BSTD)
` Bank of Baroda (BOB IN), Andhra Bank (ANDB IN) and Union Bank of India (UNBK IN)
followed their counterparts by raising their base rate by 50 bps to 9.5%. (BSTD)
` SKS Microfinance (SKSM IN) may consider pulling out of Andhra Pradesh if the state
government does not revoke its recent restrictive legislation on microfinance
institutions by April 1. Andhra Pradesh accounts for 24.5% of portfolio of SKS
Microfinance, which was around USD 1.09 bn as on December 31, 2010. (BSTD)
` Cairn Energy Plc is soon expected to ask the government to use part of its profits
from the oil production in Rajasthan to compensate ONGC (ONGC IN), which foots
the entire royalty bill on the oil output despite having only 30% stake in the project.
Compensate ONGC from USD 14 bn profit oil: Cairn. ONGC for royalty burden
proportionate to stake. (FNLE)
` Vedanta may terminate USD 9.6bn deal if Cairn India (CAIR IN) tweaks royalty clause.
Company feels any change in royalty clause will bring down Cairn's valuations
significantly. (ECNT)
` L&T Infrastructure Finance's tax-saving infrastructure bond issue to raise up-to 87 mn
will open on February 7. (THBL)
` Wipro Technologies plans to set up an exclusive delivery centre to develop software
solutions and cut down Canadian companies energy consumptions bills. (THBL)
` Reliance Power (RPWR IN) said that its 4000 MW Sasan ultra mega power project will
generate 22.5 million CER (certified emission reduction) credits, whose sale would be
over USD 435 mn in the initial 10 years of operation. (THBL)
` Karuturi Global (KARG IN) said it has acquired 58% stake in Florista India through a
share swap deal. (BSTD)
` NTPC (NATP IN) has floated bids for 800 Mw bulk supercritical units for USD 4.16 bn
even as Delhi High Court today barred it from opening price bids for an earlier tender
for 660 Mw units. NTPC orders are for 11 boilers, nine for its own projects and two
for the Damodar Valley Corporation. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
No comments:
Post a Comment