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India Equity Research Reports, IPO and Stock News
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Economy News
4 Even as Vedanta was facing acute bauxite shortage for its 1 million tonne
per annum (MTPA) refinery after the Centre rejected mining plan at
Niyamgiri, a joint venture firm today urged Orissa government to
expedite its Rs 200 Bn proposals in aluminium and power sectors. (BS)
4 The government approved a Rs 80 Bn subsidy to the three public sector
oil marketing companies to compensate half the revenues they lost on
selling diesel, domestic LPG and kerosene below cost for the quarter
ending December 31. (BS)
4 According to data released today, the six core industries grew by 6.6 per
cent in December, from just 3 per cent in the previous month, signifying
that industrial growth was likely to pick up in the last month of 2010,
against an 18-month low of 2.7 per cent in the previous month. (BS)
4 Oil topped $100 per barrel on Monday for the first time since 2008, as
traders fretted over violent unrest in Egypt that could disrupt the flow of
oil through the Suez Canal on its way to the West. (ET)
Corporate News
4 The Comptroller and Auditor General of India is finalizing a report that
questions the government’s move to allow Reliance Industries to
increase its expenditure in developing the D-6 field in the Krishna-
Godavari basin by over $6 billion, significantly reducing the state’s share
of revenue from the country’s biggest gas field. (ET)
4 Aditya Birla Group has finally agreed to buy out the US firm Columbian
Chemicals Company (CCC) for $875 million from One Equity Partners, the
merchant banking arm of JPMorgan Chase. This has catapulted the group
to become the world leader in carbon black with a combined two million
tonne annual production. (BS)
4 Essar has abandoned plans to inject part of its 33 per cent stake in the
Vodafone Essar venture into a listed shell company, after objections by its
partner, Vodafone, according to two people familiar with the situation.
(BS)
4 RPG Group company Phillips Carbon Black (PCBL) has indicated that
the company is in the race for the $1.2-billion carbon black division of
Germany’s Evonik Industries. PCBL is among the half-a-dozen shortlisted
bidders to go through to the second round of the bidding process for
Evonik’s carbon black unit. (BS)
4 Three independent directors and two key executives of financially
troubled retailer Koutons have resigned from the company, as it
struggles to raise funds from markets. (BS)
4 Germany-based engineering and technology major Siemens AG is
planning to increase its stake in the Indian subsidiary, Siemens Ltd, from
the present 55.18 per cent to 75 per cent with an offer of $1.4 billion.
(BS)
4 The income-tax department has sought Rs 11.8 Bn more tax from DLF,
the country’s largest real estate developer, and its 22 subsidiaries for the
assessment year 2009-10.
News Round-up
The govt. has decided to pay USD 1.78bn to state run fuel retailers to compensate
them for selling diesel, cooking gas & kerosene below market rates. (ECNT)
Oil PSUs raises jet fuel prices by 4.5%. (BSTD)
Core Sector grows 6.6% in December, signals better IIP show. The six infrastructure
sectors account for 26.7% of industrial output. (FNLE)
BSE has decided to introduce delivery-based stock futures and options contracts
(F&O) from February. The move comes six months after the capital market regulator
gave the go-ahead for delivery-based stock derivatives. (BSTD)
The Comptroller & Auditor General of India is finalising a report that questions the
govt.'s move to allow Reliance Ind. (RIL IN) to increase its expenditure in developing
the D-6 field in the Krishna Godavari basin by over USD 6bn, significantly reducing
the state's share of revenues from the country's biggest gas field. (ECNT)
Essar has abandoned plans to inject part of its 33% stake in Vodafone Essar into a
listed shell company after objections by its partner Vodafone. (ECNT)
DB Realty (DBRL IN) is close to inducting private equity firm Starwood Capital in its
Bandra govt. colony project by selling a 10% stake for USD 100mn. (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 Even as Vedanta was facing acute bauxite shortage for its 1 million tonne
per annum (MTPA) refinery after the Centre rejected mining plan at
Niyamgiri, a joint venture firm today urged Orissa government to
expedite its Rs 200 Bn proposals in aluminium and power sectors. (BS)
4 The government approved a Rs 80 Bn subsidy to the three public sector
oil marketing companies to compensate half the revenues they lost on
selling diesel, domestic LPG and kerosene below cost for the quarter
ending December 31. (BS)
4 According to data released today, the six core industries grew by 6.6 per
cent in December, from just 3 per cent in the previous month, signifying
that industrial growth was likely to pick up in the last month of 2010,
against an 18-month low of 2.7 per cent in the previous month. (BS)
4 Oil topped $100 per barrel on Monday for the first time since 2008, as
traders fretted over violent unrest in Egypt that could disrupt the flow of
oil through the Suez Canal on its way to the West. (ET)
Corporate News
4 The Comptroller and Auditor General of India is finalizing a report that
questions the government’s move to allow Reliance Industries to
increase its expenditure in developing the D-6 field in the Krishna-
Godavari basin by over $6 billion, significantly reducing the state’s share
of revenue from the country’s biggest gas field. (ET)
4 Aditya Birla Group has finally agreed to buy out the US firm Columbian
Chemicals Company (CCC) for $875 million from One Equity Partners, the
merchant banking arm of JPMorgan Chase. This has catapulted the group
to become the world leader in carbon black with a combined two million
tonne annual production. (BS)
4 Essar has abandoned plans to inject part of its 33 per cent stake in the
Vodafone Essar venture into a listed shell company, after objections by its
partner, Vodafone, according to two people familiar with the situation.
(BS)
4 RPG Group company Phillips Carbon Black (PCBL) has indicated that
the company is in the race for the $1.2-billion carbon black division of
Germany’s Evonik Industries. PCBL is among the half-a-dozen shortlisted
bidders to go through to the second round of the bidding process for
Evonik’s carbon black unit. (BS)
4 Three independent directors and two key executives of financially
troubled retailer Koutons have resigned from the company, as it
struggles to raise funds from markets. (BS)
4 Germany-based engineering and technology major Siemens AG is
planning to increase its stake in the Indian subsidiary, Siemens Ltd, from
the present 55.18 per cent to 75 per cent with an offer of $1.4 billion.
(BS)
4 The income-tax department has sought Rs 11.8 Bn more tax from DLF,
the country’s largest real estate developer, and its 22 subsidiaries for the
assessment year 2009-10.
News Round-up
The govt. has decided to pay USD 1.78bn to state run fuel retailers to compensate
them for selling diesel, cooking gas & kerosene below market rates. (ECNT)
Oil PSUs raises jet fuel prices by 4.5%. (BSTD)
Core Sector grows 6.6% in December, signals better IIP show. The six infrastructure
sectors account for 26.7% of industrial output. (FNLE)
BSE has decided to introduce delivery-based stock futures and options contracts
(F&O) from February. The move comes six months after the capital market regulator
gave the go-ahead for delivery-based stock derivatives. (BSTD)
The Comptroller & Auditor General of India is finalising a report that questions the
govt.'s move to allow Reliance Ind. (RIL IN) to increase its expenditure in developing
the D-6 field in the Krishna Godavari basin by over USD 6bn, significantly reducing
the state's share of revenues from the country's biggest gas field. (ECNT)
Essar has abandoned plans to inject part of its 33% stake in Vodafone Essar into a
listed shell company after objections by its partner Vodafone. (ECNT)
DB Realty (DBRL IN) is close to inducting private equity firm Starwood Capital in its
Bandra govt. colony project by selling a 10% stake for USD 100mn. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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