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India Equity Research Reports, IPO and Stock News
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News headlines: Corporate
‰ Hero Group’s promoter Munjal-family has received approval from
Foreign Investment Promotion Board to raise Rs45bn from
overseas investors. (ET)
‰ UTI Asset Management Co. is set to spin off its PE business into
a separate fully-owned subsidiary. (Mint)
‰ GAIL will pay Rs7.4bn to British Gas and Reliance Industries
for settlement of dispute related to revised price of gas from the
Panna-Mukta and Tapti fields. (ToI)
‰ State Bank of India plans to consolidate the remaining five
associate banks with itself in the next 12-18 months. (Mint)
News headlines: Economic and political
‰ ICICI Bank and HDFC Bank have increased lending rates by up
to 50bps on Wednesday. (BS)
‰ According to media report, the telecom department has initiated
the process of auctioning airwaves in the 700MHz band that will be
vacated by state agencies. (ET)
‰ The environment ministry has decided to continue with the
moratorium on proposals for diversion of forest for mining projects
in Bellary district in Karnataka till the state government takes
concrete actions to check illegal mining. (ET)
‰ Central bank governor has pointed out danger of a widening
current account deficit on economic stability in a recent meeting of
regulators at Financial Stability and Development Council. (ET)
News headlines: Corporate
‰ US based Dunkin Donuts is in talks to enter India through a
franchise deal with Jubilant Foodworks. (ET)
‰ Steel Authority of India has agreed with Afripalm Resources
Ltd to build a US$3bn steel plant, with capacity of 3mn ton, in
South Africa. (Mint)
‰ Wirpo’s ex-CEOs have been offered severance packages of
Rs70mn each. (ET)
‰ Ranbaxy Labs will repay US$550mn to overseas convertible bond
holders in Mar-11. (ET)
‰ Jet Airways will increase the fuel surcharge from 26-Feb by
Rs100 on routes shorter than 1,000km and by Rs200 for longer
distance. (Mint)
‰ Chinese truck makers – Sinotruck and Beiqi Foton Motors – are
looking to start operations in India. (ET)
‰ ABB reported 3Q11 net profit of Rs68mn, down 94% YoY, due to
provisions for project exit costs. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
‰ Hero Group’s promoter Munjal-family has received approval from
Foreign Investment Promotion Board to raise Rs45bn from
overseas investors. (ET)
‰ UTI Asset Management Co. is set to spin off its PE business into
a separate fully-owned subsidiary. (Mint)
‰ GAIL will pay Rs7.4bn to British Gas and Reliance Industries
for settlement of dispute related to revised price of gas from the
Panna-Mukta and Tapti fields. (ToI)
‰ State Bank of India plans to consolidate the remaining five
associate banks with itself in the next 12-18 months. (Mint)
News headlines: Economic and political
‰ ICICI Bank and HDFC Bank have increased lending rates by up
to 50bps on Wednesday. (BS)
‰ According to media report, the telecom department has initiated
the process of auctioning airwaves in the 700MHz band that will be
vacated by state agencies. (ET)
‰ The environment ministry has decided to continue with the
moratorium on proposals for diversion of forest for mining projects
in Bellary district in Karnataka till the state government takes
concrete actions to check illegal mining. (ET)
‰ Central bank governor has pointed out danger of a widening
current account deficit on economic stability in a recent meeting of
regulators at Financial Stability and Development Council. (ET)
News headlines: Corporate
‰ US based Dunkin Donuts is in talks to enter India through a
franchise deal with Jubilant Foodworks. (ET)
‰ Steel Authority of India has agreed with Afripalm Resources
Ltd to build a US$3bn steel plant, with capacity of 3mn ton, in
South Africa. (Mint)
‰ Wirpo’s ex-CEOs have been offered severance packages of
Rs70mn each. (ET)
‰ Ranbaxy Labs will repay US$550mn to overseas convertible bond
holders in Mar-11. (ET)
‰ Jet Airways will increase the fuel surcharge from 26-Feb by
Rs100 on routes shorter than 1,000km and by Rs200 for longer
distance. (Mint)
‰ Chinese truck makers – Sinotruck and Beiqi Foton Motors – are
looking to start operations in India. (ET)
‰ ABB reported 3Q11 net profit of Rs68mn, down 94% YoY, due to
provisions for project exit costs. (ET)
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