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India Equity Research Reports, IPO and Stock News
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Economy News
4 The economic impact of last week’s cyclone Yasi and late December
floods in Australia’s major coal producing state of Queensland has
washed up on Indian shores. Raw material costs have escalated in the last
two months for domestic companies heavily dependent on imported coal
to fire power and steel plants. (BS)
4 Coking coal spot up 40%; question on coming quarter’s supply. Contract
prices for coking coal, a major steel making input, are likely to
substantially strengthen into the next quarter, as supply-side constraints
in Australia’s flood-ravaged Queensland province, among the main coal
exporting regions in the world, will persist. (BS)
4 Indian Farmers Fertiliser Cooperative Ltd’s (Iffco’s) foray into the power
sector with a planned 1,320-Mw coal pithead-based unit in Sarguja
district of Chhattisgarh has failed to get the necessary environmental and
forest clearances. (BS)
4 The plastics industry seems to be going through a major change as the
processing units shift focus from traditional packaging to newer
segments such as equipment manufacturing for automobiles, agriculture,
poultry farming, agriculture and blown films. (BS)
Corporate News
4 The government nod for the Cairn-Vedanta deal will take more time
with the ministry of petroleum and natural gas today conveying preconditions for an approval to the companies. Though petroleum secretary
S Sundareshan said he was hopeful of a “positive solution”, another
round of meeting is expected tomorrow. (BS)
4 Bharat Electronics Limited has enhanced its focus on in-house research
and development (R&D) programmes this year in an effort to develop
new technologies and products to increase its business. (BS)
4 Coal India will float bids this month to hire an agency for exploratory
drilling of its two coal blocks in Mozambique to assess the reserves
estimated to be at about one billion tonne. (ET)
4 Two leading operators, RCom and Bharti, have approached the
government seeking to prematurely exit from the rural telephony
scheme under the USO subsidy without fulfilling the commitment they
had made by winning bids in 2007 to provide telecom services in villages.
(ET)
4 Financial services major Edelweiss Group is planning to hire 30,000-
40,000 people in the next three to five years as it plans to expand its
presence in businesses like insurance, mutual fund, housing loan and
other retail-focused markets. (ET)
4 With its exit plan from Hero Honda being finalised, Japan's Honda Motor
Co is gearing up to launch India specific two-wheeler models as it
prepares for the solo ride here. (ET)
News Round-up
` Reliance Industries (RIL IN) plans to shut a fluid catalytic cracker at its facility in
western India for five weeks, starting February 7. The FCC is being shut for
maintenance after five years of continuous operations. (BSTD-SAT)
` IOC (IOCL IN) is interested in building a USD 5 bn refinery in Turkey and is currently
carrying out feasibility work on the project. (BSTD-SAT)
` The oil ministry will ask Cairn India (CAIR IN) to accept its position in a lawsuit over
sharing of profits in the Cairn-operated Ravva oil & gas fields as a pre-condition to
approve the USD 9.6bn Cairn-Vedanta deal. (ECNT-Sat)
` A key environment ministry panel, the Forest Advisory Committee, has recommended
that the public sector steel major SAIL (SAIL IN) not be allowed to mine iron ore from
Chiria reserves in Jharkhand. (ECNT)
` Sterlite Industries (STLT IN) part of Vedanta Resources Plc, has completed the
acquisition of 74 percent stake in Black Mountain Mines in South Africa from Anglo
Operations (part of the Anglo American Plc) for USD 260mn. (THBL SUN)
` Fortis Healthcare (FORH IN) has embarked on a restructuring exercise across its 53
hospitals in India to bring in more efficiency and an organised management structure
for the hospital chain. (BSTD-SAT)
` Hindustan Unilever (HUVR IN) said there could be further price hikes in its products as
input costs, particularly that of commodities continue to rise. (FNLE-SAT)
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 economic impact of last week’s cyclone Yasi and late December
floods in Australia’s major coal producing state of Queensland has
washed up on Indian shores. Raw material costs have escalated in the last
two months for domestic companies heavily dependent on imported coal
to fire power and steel plants. (BS)
4 Coking coal spot up 40%; question on coming quarter’s supply. Contract
prices for coking coal, a major steel making input, are likely to
substantially strengthen into the next quarter, as supply-side constraints
in Australia’s flood-ravaged Queensland province, among the main coal
exporting regions in the world, will persist. (BS)
4 Indian Farmers Fertiliser Cooperative Ltd’s (Iffco’s) foray into the power
sector with a planned 1,320-Mw coal pithead-based unit in Sarguja
district of Chhattisgarh has failed to get the necessary environmental and
forest clearances. (BS)
4 The plastics industry seems to be going through a major change as the
processing units shift focus from traditional packaging to newer
segments such as equipment manufacturing for automobiles, agriculture,
poultry farming, agriculture and blown films. (BS)
Corporate News
4 The government nod for the Cairn-Vedanta deal will take more time
with the ministry of petroleum and natural gas today conveying preconditions for an approval to the companies. Though petroleum secretary
S Sundareshan said he was hopeful of a “positive solution”, another
round of meeting is expected tomorrow. (BS)
4 Bharat Electronics Limited has enhanced its focus on in-house research
and development (R&D) programmes this year in an effort to develop
new technologies and products to increase its business. (BS)
4 Coal India will float bids this month to hire an agency for exploratory
drilling of its two coal blocks in Mozambique to assess the reserves
estimated to be at about one billion tonne. (ET)
4 Two leading operators, RCom and Bharti, have approached the
government seeking to prematurely exit from the rural telephony
scheme under the USO subsidy without fulfilling the commitment they
had made by winning bids in 2007 to provide telecom services in villages.
(ET)
4 Financial services major Edelweiss Group is planning to hire 30,000-
40,000 people in the next three to five years as it plans to expand its
presence in businesses like insurance, mutual fund, housing loan and
other retail-focused markets. (ET)
4 With its exit plan from Hero Honda being finalised, Japan's Honda Motor
Co is gearing up to launch India specific two-wheeler models as it
prepares for the solo ride here. (ET)
News Round-up
` Reliance Industries (RIL IN) plans to shut a fluid catalytic cracker at its facility in
western India for five weeks, starting February 7. The FCC is being shut for
maintenance after five years of continuous operations. (BSTD-SAT)
` IOC (IOCL IN) is interested in building a USD 5 bn refinery in Turkey and is currently
carrying out feasibility work on the project. (BSTD-SAT)
` The oil ministry will ask Cairn India (CAIR IN) to accept its position in a lawsuit over
sharing of profits in the Cairn-operated Ravva oil & gas fields as a pre-condition to
approve the USD 9.6bn Cairn-Vedanta deal. (ECNT-Sat)
` A key environment ministry panel, the Forest Advisory Committee, has recommended
that the public sector steel major SAIL (SAIL IN) not be allowed to mine iron ore from
Chiria reserves in Jharkhand. (ECNT)
` Sterlite Industries (STLT IN) part of Vedanta Resources Plc, has completed the
acquisition of 74 percent stake in Black Mountain Mines in South Africa from Anglo
Operations (part of the Anglo American Plc) for USD 260mn. (THBL SUN)
` Fortis Healthcare (FORH IN) has embarked on a restructuring exercise across its 53
hospitals in India to bring in more efficiency and an organised management structure
for the hospital chain. (BSTD-SAT)
` Hindustan Unilever (HUVR IN) said there could be further price hikes in its products as
input costs, particularly that of commodities continue to rise. (FNLE-SAT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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