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Economy News
4 The automobile industry has started 2011 on a healthy note, with sales of
10 leading car manufacturers rising by around 14 per cent to 245,664
units, owing to strong demand in the domestic market. A total of
216,002 units were sold in the year-ago period. (BS)
4 The Reserve Bank of India has asked banks to put in place an escrow
mechanism that can ring fence their loans to real estate firms and keep
a closer tab on the end use of funds. (ET)
4 Exports of goods from India are likely to exceed the government’s target
of $200 billion by the end of this financial year, driven by a number of
incentives being offered since the global financial downturn. During April-
December 2010, total exports reached $164.70 billion, up 29.5 per cent
from $127.18 billion in the corresponding period of the previous financial
year. (BS)
4 The government may knock off the 4% countervailing duty on imports in
the forthcoming Budget as part of a set of measures it intends to initiate
to tame inflation. (ET)
Corporate News
4 Housing Finance and Development Corp (HDFC), the country’s
leading mortgage financier, has increased its retail prime lending rate
(RPLR) by 25 basis points (bps) to 15.25 per cent with effect from on
Tuesday. (BS)
4 Infosys Technologies may ask SD Shibulal, one of its founders, to
become the CEO of the company some time in April this year as part of a
regular reshuffle of the top deck. (ET)
4 DLF plans to launch eight million sq ft of new area in the coming few
quarters at locations like Chandigarh, Gurgaon, Delhi, Kochi and
Hyderabad to substantially improve cash-flow from operations. (ET)
4 Oberoi Realty has bagged the rights to redevelop Adarsh Nagar near
Lokhandwala in Andheri, a suburb in Mumbai, and the project is
estimated to provide one million sq ft to the company for free sale after
factoring in the rehabilitation of existing 1,000 tenants. However,
company has not yet confirmed this development. (ET)
4 Drug firm Elder Pharmaceuticals said it is targeting revenues of up to
one billion dollars from the lucrative $ 70 billion Japanese pharma
market. (BL)
4 Leading Indian FMCG firms, including Dabur and Emami, said their
businesses in Egypt might get an impact due to the ongoing political
unrest in the African nation. Already Dabur, which has hair oil production
plant in Egypt, has shut operations from yesterday. (FE)
4 Ambuja Cement reported a 6.21 per cent growth in its production at
1.84 million tonnes in January compared to the same month last year.
Another major player, ACC Cement reported 9.57 per cent increase in
production at 2.06 million tonnes compared to 1.88 million tonnes in
January last year.(BL)
News Round-up
Exports go up 36% in December, highest in 33 months. December imports down
11%; exports to touch USD 220 bn this fiscal, says Federation of Indian Export
Organisations. (THBL)
RBI has asked banks to put in place an escrow mechanism that can ring fence their
loans to real estate firms & keep a closer tab on the end use of funds. (ECNT)
Airlines are likely to raise fares by 5-7% as oil marketing cos. hiked air turbine fuel
(ATF) by 3.5%. (ECNT)
The automobile industry has started 2011 on a healthy note, with sales of 10 leading
car manufacturers rising by around 14% to 245,664 units, owing to strong demand
in the domestic market. A total of 216,002 units were sold in the year-ago period.
(BSTD)
M&M (MM IN) announced its plans to launch 8-10 new products, including a
premium sports utility vehicle (SUV), across various segments by March 2012 to scale
up sales in the next financial year. (BSTD)
ONGC Videsh Ltd (OVL) has decided to relinquish its oil block in Egypt as it did not
find the discovery commercially viable. (THBL)
IOC (IOCL IN) is planning to invest USD 1.09 bn to expand its Koyali refinery in
Gujarat from 13.7 mn metric tones per annum (mtpa) to a 18-mtpa refinery. (BSTD)
HDFC (HDFC IN) has increased its retail prime lending rate by 25 bps to 15.25% with
effect from Tuesday. (BSTD)
HDFC (HDFC IN) has entered the booming Indian education sector by picking up a
stake in Indus World Schools (IWS), which is promoted by education Career Launcher.
Private equity firm Gaja Capital Partners, which invested USD 8.5 mn in IWS in 2007,
is a co-investor. (BSTD)
Tata Steel's (TATA IN) Orissa plant to make flat products. Kalinganagar facility to have
capacity of 6 mtpa. (THBL)
Sun Pharma (SUNP IN) said it has formed a group of independent directors of its US
arm, Caraco, to evaluate plans to delist the subsidiary, which is recording continued
losses. (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 The automobile industry has started 2011 on a healthy note, with sales of
10 leading car manufacturers rising by around 14 per cent to 245,664
units, owing to strong demand in the domestic market. A total of
216,002 units were sold in the year-ago period. (BS)
4 The Reserve Bank of India has asked banks to put in place an escrow
mechanism that can ring fence their loans to real estate firms and keep
a closer tab on the end use of funds. (ET)
4 Exports of goods from India are likely to exceed the government’s target
of $200 billion by the end of this financial year, driven by a number of
incentives being offered since the global financial downturn. During April-
December 2010, total exports reached $164.70 billion, up 29.5 per cent
from $127.18 billion in the corresponding period of the previous financial
year. (BS)
4 The government may knock off the 4% countervailing duty on imports in
the forthcoming Budget as part of a set of measures it intends to initiate
to tame inflation. (ET)
Corporate News
4 Housing Finance and Development Corp (HDFC), the country’s
leading mortgage financier, has increased its retail prime lending rate
(RPLR) by 25 basis points (bps) to 15.25 per cent with effect from on
Tuesday. (BS)
4 Infosys Technologies may ask SD Shibulal, one of its founders, to
become the CEO of the company some time in April this year as part of a
regular reshuffle of the top deck. (ET)
4 DLF plans to launch eight million sq ft of new area in the coming few
quarters at locations like Chandigarh, Gurgaon, Delhi, Kochi and
Hyderabad to substantially improve cash-flow from operations. (ET)
4 Oberoi Realty has bagged the rights to redevelop Adarsh Nagar near
Lokhandwala in Andheri, a suburb in Mumbai, and the project is
estimated to provide one million sq ft to the company for free sale after
factoring in the rehabilitation of existing 1,000 tenants. However,
company has not yet confirmed this development. (ET)
4 Drug firm Elder Pharmaceuticals said it is targeting revenues of up to
one billion dollars from the lucrative $ 70 billion Japanese pharma
market. (BL)
4 Leading Indian FMCG firms, including Dabur and Emami, said their
businesses in Egypt might get an impact due to the ongoing political
unrest in the African nation. Already Dabur, which has hair oil production
plant in Egypt, has shut operations from yesterday. (FE)
4 Ambuja Cement reported a 6.21 per cent growth in its production at
1.84 million tonnes in January compared to the same month last year.
Another major player, ACC Cement reported 9.57 per cent increase in
production at 2.06 million tonnes compared to 1.88 million tonnes in
January last year.(BL)
News Round-up
Exports go up 36% in December, highest in 33 months. December imports down
11%; exports to touch USD 220 bn this fiscal, says Federation of Indian Export
Organisations. (THBL)
RBI has asked banks to put in place an escrow mechanism that can ring fence their
loans to real estate firms & keep a closer tab on the end use of funds. (ECNT)
Airlines are likely to raise fares by 5-7% as oil marketing cos. hiked air turbine fuel
(ATF) by 3.5%. (ECNT)
The automobile industry has started 2011 on a healthy note, with sales of 10 leading
car manufacturers rising by around 14% to 245,664 units, owing to strong demand
in the domestic market. A total of 216,002 units were sold in the year-ago period.
(BSTD)
M&M (MM IN) announced its plans to launch 8-10 new products, including a
premium sports utility vehicle (SUV), across various segments by March 2012 to scale
up sales in the next financial year. (BSTD)
ONGC Videsh Ltd (OVL) has decided to relinquish its oil block in Egypt as it did not
find the discovery commercially viable. (THBL)
IOC (IOCL IN) is planning to invest USD 1.09 bn to expand its Koyali refinery in
Gujarat from 13.7 mn metric tones per annum (mtpa) to a 18-mtpa refinery. (BSTD)
HDFC (HDFC IN) has increased its retail prime lending rate by 25 bps to 15.25% with
effect from Tuesday. (BSTD)
HDFC (HDFC IN) has entered the booming Indian education sector by picking up a
stake in Indus World Schools (IWS), which is promoted by education Career Launcher.
Private equity firm Gaja Capital Partners, which invested USD 8.5 mn in IWS in 2007,
is a co-investor. (BSTD)
Tata Steel's (TATA IN) Orissa plant to make flat products. Kalinganagar facility to have
capacity of 6 mtpa. (THBL)
Sun Pharma (SUNP IN) said it has formed a group of independent directors of its US
arm, Caraco, to evaluate plans to delist the subsidiary, which is recording continued
losses. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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