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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The Prime Minister's Economic Advisory Council has made a case for
withdrawing some of the tax incentives to the industry to put the
economy back on track for fiscal consolidation. (BS)
4 President Pratibha Patil outlined an aggressive economic agenda focused
on checking inflation and corruption on the occasion of her address to a
joint session of Parliament at the start of the year’s first session. (BS)
4 The power ministry has asked Central Electricity Authority (CEA) to
regularly monitor the implementation of ultra mega power projects
(UMPPs), with generation capacity of about 4,000 Mw each. (BS)
4 The commerce ministry has sought a review of foreign direct investment
(FDI) policy in the pharmaceutical sector, in the light of recent takeovers
of domestic companies by multinationals. (BS)
4 The Insurance Regulatory & Development Authority (IRDA) is set to cap
the stake dilution by life insurers in the first three years of listing. The
market regulator, the Securities & Exchange Board of India (SEBI),
mandates that 25% shares of a listed company should be held by the
public. (BS)
Corporate News
4 Global oil major BP will buy a 30% stake in Reliance Industries’ oil and
gas blocks, including its trophy asset—the D-6 block—for $7.2 billion as
part of a long-term deal that involves a total investment of $20 billion,
making it the biggest-ever foreign investment in India. (ET)
4 Idea Cellular may lose overlapping mobile permits in six regions and
could end up paying a fine of 3.0 bn if the telecom department accepts
the recommendations of a top law officer of the government. (ET)
4 Infrastructure Development Finance Company Ltd will be raising up
to Rs.21.7 bn through public issue of long-term infrastructure bonds of
face value of Rs.5,000 each. (BL)
4 Oil and Natural Gas Corporation (ONGC) has said that Cairn never
disputed cost recovery of royalty on crude oil production from the Barmer
field before August 16, 2010, when Vedanta Resources announced buying
of a majority stake in Cairn India. (BS)
4 Zensar will recruit 2,200 employees in the next two years as it targets to
double its turnover from Rs.11 bn this year to Rs.22 bn by 2013. (BL)
4 Vijay Mallya-controlled Kingfisher Airlines has left behind IndiGo to
become the second largest carrier in the country in January, data
released by the Directorate General of Civil Aviation showed. The market
also witnessed an increase of 20.7% in passenger traffic during this
period. (BS)
4 Tata Steel has said that it plans to commission the first phase of its six
million tonne steel plant at Kalinganagar, Orissa by the end of 2012-13
fiscal. (BL)
4 Gayatri Projects Ltd (GPL), the Hyderabad-based infrastructure
company, has secured a road project order worth Rs.5.44 bn from
Mizoram Government. (BL)
4 Punj Lloyd has said that its subsidiary Punj Lloyd Infrastructure has
bagged a National Highways Authority of India contract to upgrade a
140-km stretch of NH-31 from Khagaria to Purnea in Bihar to a two-lane
carriageway on build-operate-and-transfer basis. (BL)
News Round-up
In the biggest foreign direct investment (FDI) into India, BP, the world's fourth-largest
energy company, will pay USD 7.2 bn for a 30% stake in 23 oil and gas blocks of
Reliance Industries Ltd (RIL IN). The fields include the most prolific KG-D6 off the east
coast. (BSTD)
Reliance Industries Ltd (RIL IN) announced formation of a gas marketing venture with
BP as part of a multi-billion dollar deal. This joint venture is expected to primarily
focus on marketing of imported liquefied natural gas (LNG), since customers of RIL's
domestic gas are decided by the government. (BSTD)
The cement industry, already reeling from an oversupply situation, is expected to add
23.3 mn tones of capacity in 2011-12 with the southern region accounting for a
lion's share of 9.2 million tonnes. (THBL)
NMDC (NMDC IN) is in talks with Tata Steel (TATA IN) to sign an equal joint venture
for setting up a 2-mtpa steel plant at Bastar in Chattisgarh. (BSTD)
Tata Steel (TATA IN) to commission first phase of Orissa plant by end FY13. (THBL)
SAIL (SAIL IN) said it was planning four three-mtpa manufacturing facilities, one each
in Indonesia, Mongolia, South Africa and Oman, at a cumulative investment of
USD 12 bn. (BSTD)
SKIL Infrastructure said it planned to raise USD 500 mn through an IPO and will file
the draft prospectus with the Sebi in about a month. (BSTD)
GVK Power (GVKP IN) plans to buy mines abroad. (FNLE)
Punj Lloyd (PUNJ IN) arm wins USD 160 mn NHAI project. (THBL)
IRB Infrastructure (IRB IN) ties up funds for Tumkur-Chitradurga project. (THBL)
Gayatri Projects (GAYP IN) Ltd has secured a road project order worth USD 118 mn
from Mizoram Government. (THBL)
Amar Raja group plans manufacturing hub in Andhra Pradesh. (THBL)
Wockhardt Ltd (WPL IN) has entered into a strategic global alliance with Sheffield Bio-
Science of USA to sell recombinant insulin in various markets. (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 Prime Minister's Economic Advisory Council has made a case for
withdrawing some of the tax incentives to the industry to put the
economy back on track for fiscal consolidation. (BS)
4 President Pratibha Patil outlined an aggressive economic agenda focused
on checking inflation and corruption on the occasion of her address to a
joint session of Parliament at the start of the year’s first session. (BS)
4 The power ministry has asked Central Electricity Authority (CEA) to
regularly monitor the implementation of ultra mega power projects
(UMPPs), with generation capacity of about 4,000 Mw each. (BS)
4 The commerce ministry has sought a review of foreign direct investment
(FDI) policy in the pharmaceutical sector, in the light of recent takeovers
of domestic companies by multinationals. (BS)
4 The Insurance Regulatory & Development Authority (IRDA) is set to cap
the stake dilution by life insurers in the first three years of listing. The
market regulator, the Securities & Exchange Board of India (SEBI),
mandates that 25% shares of a listed company should be held by the
public. (BS)
Corporate News
4 Global oil major BP will buy a 30% stake in Reliance Industries’ oil and
gas blocks, including its trophy asset—the D-6 block—for $7.2 billion as
part of a long-term deal that involves a total investment of $20 billion,
making it the biggest-ever foreign investment in India. (ET)
4 Idea Cellular may lose overlapping mobile permits in six regions and
could end up paying a fine of 3.0 bn if the telecom department accepts
the recommendations of a top law officer of the government. (ET)
4 Infrastructure Development Finance Company Ltd will be raising up
to Rs.21.7 bn through public issue of long-term infrastructure bonds of
face value of Rs.5,000 each. (BL)
4 Oil and Natural Gas Corporation (ONGC) has said that Cairn never
disputed cost recovery of royalty on crude oil production from the Barmer
field before August 16, 2010, when Vedanta Resources announced buying
of a majority stake in Cairn India. (BS)
4 Zensar will recruit 2,200 employees in the next two years as it targets to
double its turnover from Rs.11 bn this year to Rs.22 bn by 2013. (BL)
4 Vijay Mallya-controlled Kingfisher Airlines has left behind IndiGo to
become the second largest carrier in the country in January, data
released by the Directorate General of Civil Aviation showed. The market
also witnessed an increase of 20.7% in passenger traffic during this
period. (BS)
4 Tata Steel has said that it plans to commission the first phase of its six
million tonne steel plant at Kalinganagar, Orissa by the end of 2012-13
fiscal. (BL)
4 Gayatri Projects Ltd (GPL), the Hyderabad-based infrastructure
company, has secured a road project order worth Rs.5.44 bn from
Mizoram Government. (BL)
4 Punj Lloyd has said that its subsidiary Punj Lloyd Infrastructure has
bagged a National Highways Authority of India contract to upgrade a
140-km stretch of NH-31 from Khagaria to Purnea in Bihar to a two-lane
carriageway on build-operate-and-transfer basis. (BL)
News Round-up
In the biggest foreign direct investment (FDI) into India, BP, the world's fourth-largest
energy company, will pay USD 7.2 bn for a 30% stake in 23 oil and gas blocks of
Reliance Industries Ltd (RIL IN). The fields include the most prolific KG-D6 off the east
coast. (BSTD)
Reliance Industries Ltd (RIL IN) announced formation of a gas marketing venture with
BP as part of a multi-billion dollar deal. This joint venture is expected to primarily
focus on marketing of imported liquefied natural gas (LNG), since customers of RIL's
domestic gas are decided by the government. (BSTD)
The cement industry, already reeling from an oversupply situation, is expected to add
23.3 mn tones of capacity in 2011-12 with the southern region accounting for a
lion's share of 9.2 million tonnes. (THBL)
NMDC (NMDC IN) is in talks with Tata Steel (TATA IN) to sign an equal joint venture
for setting up a 2-mtpa steel plant at Bastar in Chattisgarh. (BSTD)
Tata Steel (TATA IN) to commission first phase of Orissa plant by end FY13. (THBL)
SAIL (SAIL IN) said it was planning four three-mtpa manufacturing facilities, one each
in Indonesia, Mongolia, South Africa and Oman, at a cumulative investment of
USD 12 bn. (BSTD)
SKIL Infrastructure said it planned to raise USD 500 mn through an IPO and will file
the draft prospectus with the Sebi in about a month. (BSTD)
GVK Power (GVKP IN) plans to buy mines abroad. (FNLE)
Punj Lloyd (PUNJ IN) arm wins USD 160 mn NHAI project. (THBL)
IRB Infrastructure (IRB IN) ties up funds for Tumkur-Chitradurga project. (THBL)
Gayatri Projects (GAYP IN) Ltd has secured a road project order worth USD 118 mn
from Mizoram Government. (THBL)
Amar Raja group plans manufacturing hub in Andhra Pradesh. (THBL)
Wockhardt Ltd (WPL IN) has entered into a strategic global alliance with Sheffield Bio-
Science of USA to sell recombinant insulin in various markets. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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