17 February 2011

Morning meeting notes from CLSA India Thursday, 17 February 2011

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News headlines: Corporate
􀂉 Tata Steel would be raising Rs30bn through private placement of
non- convertible debentures in two tranches. (BS)
􀂉 Reliance Industries is planning major investments, totalling up
to US$30bn over next five years in its various businesses, including
energy and telecom sectors. (FE)
􀂉 Anil Ambani, Chairman of ADAG group, was questioned by CBI
yesterday in connection with his company’s association with Swan
Telecom and the alleged favours granted during the allocation of
spectrum in 2007. (Mint)

News headlines: Economic and political
􀂉 The Ministry of Environment and Forests (MoEF) has lifted an
earlier moratorium on new projects in eight more critically polluted
areas. (BS)
􀂉 The losses of oil marketing companies on sale of diesel has
increased to Rs10.74/lit. (BS)
􀂉 A 12-member Group of Ministers (GoM) will be reworking the
existing statues and rules relating to forest clearance. (BS)
􀂉 India and Japan have set a target of achieving US$25 billion worth
of bilateral trade by 2014 from the present US$10.3 billion. (BS)


􀂉 Prime Minister, Dr Manmohan Singh, has assured that by the end
of the fiscal year inflation should be down to 7%. (BL)

News headlines: Corporate
􀂉 Future Ventures is reportedly looking at tapping the primary
market with an Rs7.5bn initial public offer (IPO) next month. (BS)
􀂉 Prime Minister has said that the deal between ISRO and Devas
was not operational as the Space Commission had decided to scrap
the contract on July 2, 2010. (BL)

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