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India Equity Research Reports, IPO and Stock News
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Economy News
4 India's annual food inflation declined to a seven-week low as improved
supplies eased prices of fruits and vegetables towards the end of
January. The annual inflation in food articles stood at 13.07% in the
week to January 29, nearly four percentage points lower than the week
before, data released on Thursday showed. (ET)
4 The Centre will pay Rs70.29 bn as compensation to states for the losses
they suffered in 2010-11 due to a reduction in the central sales tax rate,
a move seen as an attempt to break the impasse over the proposed
goods and services tax ahead of the meeting of the empowered
committee of state finance ministers on Friday. CST was reduced from 4
% to 3% in 2007-08 and further to 2% in 2008-09. (ET)
4 The Committee of Secretaries (CoS) on Thursday met to review the
cotton exports trends and retained the cap of 5.5 mn bales of natural
fibre shipments for the current cotton season as of now. (BL)
Corporate News
4 State-run ONGC lobbed the ball in the government's court in the
controversial $9.6-billion Cairn- Vedanta deal saying the London-listed
firms need not seek its approval and that it would count on the oil
ministry to ease its royalty burden. ONGC has so far maintained that its
consent was necessary for the transaction and demanded a change in its
obligation to pay the entire royalty for Cairn's Rajasthan block, although
it holds only a 30% stake. (ET)
4 The Lanco Group will invest Rs30 bn to set up a solar photovoltaic
manufacturing unit with an annual capacity of 250 MW for local sales and
exports to Europe and USA, a company official said. The plant, at
Rajnandgaon district in Chhattisgarh, would be set up in two phases by
Lanco Solar , a special purpose vehicle of Lanco Infratech. (ET)
4 Larsen & Toubro and EADS - Europe's top aerospace and defence group
- will set up a $20-million joint venture company to make and market
radars, avionics, mobile systems (bridges) and electronic warfare
equipment for military applications for the domestic and international
markets. L&T will hold 74 % and Cassidian 26 % in the tie-up, which will
work out of Talegoan, near Pune, and Bengaluru. (BL)
4 Tata Motors said that it has bagged an order to supply around 250
Prima trucks to LINFOX Logistics. The Prima trucks are part of Tata's
premium-end World Truck model series. LINFOX, a privately-owned
supply chain solutions company that has been operating in the Asia-
Pacific region for over 50 years, aims to ply these trucks in India. (BL)
4 State-run Indian Oil Corporation on Thursday said its Rs 200 bn public
offer is on hold due to unfavorable market conditions and rising global
crude oil prices. (BL)
Source: ET = Economic Times, BS = Business Standard, FE = Financial Express,
BL = Business Line, ToI: Times of India, BSE = Bombay Stock Exchange
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 India's annual food inflation declined to a seven-week low as improved
supplies eased prices of fruits and vegetables towards the end of
January. The annual inflation in food articles stood at 13.07% in the
week to January 29, nearly four percentage points lower than the week
before, data released on Thursday showed. (ET)
4 The Centre will pay Rs70.29 bn as compensation to states for the losses
they suffered in 2010-11 due to a reduction in the central sales tax rate,
a move seen as an attempt to break the impasse over the proposed
goods and services tax ahead of the meeting of the empowered
committee of state finance ministers on Friday. CST was reduced from 4
% to 3% in 2007-08 and further to 2% in 2008-09. (ET)
4 The Committee of Secretaries (CoS) on Thursday met to review the
cotton exports trends and retained the cap of 5.5 mn bales of natural
fibre shipments for the current cotton season as of now. (BL)
Corporate News
4 State-run ONGC lobbed the ball in the government's court in the
controversial $9.6-billion Cairn- Vedanta deal saying the London-listed
firms need not seek its approval and that it would count on the oil
ministry to ease its royalty burden. ONGC has so far maintained that its
consent was necessary for the transaction and demanded a change in its
obligation to pay the entire royalty for Cairn's Rajasthan block, although
it holds only a 30% stake. (ET)
4 The Lanco Group will invest Rs30 bn to set up a solar photovoltaic
manufacturing unit with an annual capacity of 250 MW for local sales and
exports to Europe and USA, a company official said. The plant, at
Rajnandgaon district in Chhattisgarh, would be set up in two phases by
Lanco Solar , a special purpose vehicle of Lanco Infratech. (ET)
4 Larsen & Toubro and EADS - Europe's top aerospace and defence group
- will set up a $20-million joint venture company to make and market
radars, avionics, mobile systems (bridges) and electronic warfare
equipment for military applications for the domestic and international
markets. L&T will hold 74 % and Cassidian 26 % in the tie-up, which will
work out of Talegoan, near Pune, and Bengaluru. (BL)
4 Tata Motors said that it has bagged an order to supply around 250
Prima trucks to LINFOX Logistics. The Prima trucks are part of Tata's
premium-end World Truck model series. LINFOX, a privately-owned
supply chain solutions company that has been operating in the Asia-
Pacific region for over 50 years, aims to ply these trucks in India. (BL)
4 State-run Indian Oil Corporation on Thursday said its Rs 200 bn public
offer is on hold due to unfavorable market conditions and rising global
crude oil prices. (BL)
Source: ET = Economic Times, BS = Business Standard, FE = Financial Express,
BL = Business Line, ToI: Times of India, BSE = Bombay Stock Exchange
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