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India Equity Research Reports, IPO and Stock News
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Economy News
4 Trai has proposed that mobile phone companies be charged a one-time
fee of 45.72 bn for every unit of airwave they hold beyond the
contracted limit (ET).
4 Automobiles sales in the country reached a new high in January despite
rising food and fuel prices, higher sticker prices and costlier loans (ET).
4 The State Level Investment Promotion Committee, headed by the chief
secretary of Andhra Pradesh, would discuss incentives to new investment
proposals worth Rs 204.21 bn under the mega project category (BS).
4 India's gems and jewellery exports are likely to cross the targetted $30
billion for the current fiscal due to a healthy demand from the western
markets like the US and Europe (BL).
Corporate News
4 COAL India plans to start exploratory drilling in Mozambique by June
and has invited bids from coal exploration companies for the blocks it has
acquired in the country (ET).
4 Suzlon Energy promoters have said that they are not planning to sell its
stake in the company. (BS)
4 Cairn India looses has been estimated at about $56 million due to
incremental production loss of 25,000 barrels a day over four months
that approvals have been pending (BL)
4 Dewan Housing Finance Corporation Limited (DHFL) has launched
Aadhar Housing Finance Private Limited, targetting the 'bottom of the
pyramid' home loan space in Uttar Pradesh and other states with similar
socio-economic profile (BS).
4 DLF has decided to approach the Supreme Court against a Punjab and
Haryana High Court verdict ordering demolition of the special economic
zone (SEZ) in Gurgaon that houses several large information technology
firms (BS).
4 Falling gas production has prompted Reliance Industries Ltd (RIL) to
seek help from US oil major Shell International to rectify technical glitches
in its D6 block in the Krishna-Godavari (K-G) basin (BS).
4 Hindalco claims Novelis association as success and expects shipments of
flat rolled products to grow around 20 per cent in 2010-11 (BS).
4 Gitanjali Gems Ltd (GGL), which is in the process of raising funds from
private equity (PE) players, is unlikely to close the deal any time soon due
to the ongoing business restructuring of the company. The company was
in talks with various PE players to raise $100 million by selling about 10
per cent in the company (BS).
4 Sterlite Technologies has acquired 50 acres in Maharashtra for a Rs
9,700-crore liquid crystal display (LCD) manufacturing project. The staterun
Maharashtra Industrial Development Corporation (MIDC) recently
handed over the land (BS).
News Round-up
Telecom regulator Trai has proposed that mobile phone cos. be charged a one-time
fee of USD 1.01bn for every unit of airwave they hold beyond the contracted limit, in
what may be a further blow to dipping profits & revenues of the sector. The move is
set to impact all incumbent GSM based operators & calculations by ECNT reveal that
the industry will have to shell out USD 3.89bn if the govt. accepts the regulator's
recommendations. (ECNT)
Car sales hit a record high in Jan. up 26%, pushed by a growing middle class, easier
access to loans & a wider choice of new models, but rising fuel prices & interest rates
are likely to moderate growth in next few months. (ECNT)
The environment ministry has given SAIL (SAIL IN) the go-ahead to divert 595 hectare
of forest land in Chiria. (BSTD)
Falling gas production has prompted Reliance Industries Ltd (RIL IN) to seek help from
US oil major Shell International to rectify technical glitches in its D6 block in the
Krishna-Godavari basin on the country's eastern coast. (BSTD)
Coal India (COAL IN) may by a stake of up to 15% in US-based Peabody Energy
Corp's Australian assets early in the next financial year for an estimated USD 100 mn.
(BSTD)
Coal India (COAL IN) plans to start exploratory drilling in Mozambique by June & has
invited bids from coal exploration cos. for the blocks it has acquired in the country.
(ECNT)
M&M (MM IN) approved the acquisition of 38% equity in EPC Industries, a listed
company engaged in micro irrigation systems, for USD 9 mn. (BSTD)
DLF (DLFU IN) approach apex court against order to demolish Gurgaon SEZ. The
Punjab and Haryana high court had ruled that the land was acquired for other
purpose and not for SEZ. (BSTD)
Natco Pharma (NTCPH IN) said its abbreviated new drug application for the generic
version of Oseltamivir Phosphate capsules had been accepted by the USFDA. (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 Trai has proposed that mobile phone companies be charged a one-time
fee of 45.72 bn for every unit of airwave they hold beyond the
contracted limit (ET).
4 Automobiles sales in the country reached a new high in January despite
rising food and fuel prices, higher sticker prices and costlier loans (ET).
4 The State Level Investment Promotion Committee, headed by the chief
secretary of Andhra Pradesh, would discuss incentives to new investment
proposals worth Rs 204.21 bn under the mega project category (BS).
4 India's gems and jewellery exports are likely to cross the targetted $30
billion for the current fiscal due to a healthy demand from the western
markets like the US and Europe (BL).
Corporate News
4 COAL India plans to start exploratory drilling in Mozambique by June
and has invited bids from coal exploration companies for the blocks it has
acquired in the country (ET).
4 Suzlon Energy promoters have said that they are not planning to sell its
stake in the company. (BS)
4 Cairn India looses has been estimated at about $56 million due to
incremental production loss of 25,000 barrels a day over four months
that approvals have been pending (BL)
4 Dewan Housing Finance Corporation Limited (DHFL) has launched
Aadhar Housing Finance Private Limited, targetting the 'bottom of the
pyramid' home loan space in Uttar Pradesh and other states with similar
socio-economic profile (BS).
4 DLF has decided to approach the Supreme Court against a Punjab and
Haryana High Court verdict ordering demolition of the special economic
zone (SEZ) in Gurgaon that houses several large information technology
firms (BS).
4 Falling gas production has prompted Reliance Industries Ltd (RIL) to
seek help from US oil major Shell International to rectify technical glitches
in its D6 block in the Krishna-Godavari (K-G) basin (BS).
4 Hindalco claims Novelis association as success and expects shipments of
flat rolled products to grow around 20 per cent in 2010-11 (BS).
4 Gitanjali Gems Ltd (GGL), which is in the process of raising funds from
private equity (PE) players, is unlikely to close the deal any time soon due
to the ongoing business restructuring of the company. The company was
in talks with various PE players to raise $100 million by selling about 10
per cent in the company (BS).
4 Sterlite Technologies has acquired 50 acres in Maharashtra for a Rs
9,700-crore liquid crystal display (LCD) manufacturing project. The staterun
Maharashtra Industrial Development Corporation (MIDC) recently
handed over the land (BS).
News Round-up
Telecom regulator Trai has proposed that mobile phone cos. be charged a one-time
fee of USD 1.01bn for every unit of airwave they hold beyond the contracted limit, in
what may be a further blow to dipping profits & revenues of the sector. The move is
set to impact all incumbent GSM based operators & calculations by ECNT reveal that
the industry will have to shell out USD 3.89bn if the govt. accepts the regulator's
recommendations. (ECNT)
Car sales hit a record high in Jan. up 26%, pushed by a growing middle class, easier
access to loans & a wider choice of new models, but rising fuel prices & interest rates
are likely to moderate growth in next few months. (ECNT)
The environment ministry has given SAIL (SAIL IN) the go-ahead to divert 595 hectare
of forest land in Chiria. (BSTD)
Falling gas production has prompted Reliance Industries Ltd (RIL IN) to seek help from
US oil major Shell International to rectify technical glitches in its D6 block in the
Krishna-Godavari basin on the country's eastern coast. (BSTD)
Coal India (COAL IN) may by a stake of up to 15% in US-based Peabody Energy
Corp's Australian assets early in the next financial year for an estimated USD 100 mn.
(BSTD)
Coal India (COAL IN) plans to start exploratory drilling in Mozambique by June & has
invited bids from coal exploration cos. for the blocks it has acquired in the country.
(ECNT)
M&M (MM IN) approved the acquisition of 38% equity in EPC Industries, a listed
company engaged in micro irrigation systems, for USD 9 mn. (BSTD)
DLF (DLFU IN) approach apex court against order to demolish Gurgaon SEZ. The
Punjab and Haryana high court had ruled that the land was acquired for other
purpose and not for SEZ. (BSTD)
Natco Pharma (NTCPH IN) said its abbreviated new drug application for the generic
version of Oseltamivir Phosphate capsules had been accepted by the USFDA. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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