27 March 2011

Deutsche bank, News Headlines: March 27, 2011

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News Headlines
Proposed economic reforms in India (Reuters)
The government has introduced wide-ranging tax, banking and pension reform bills into parliament, but political opposition may derail some of the most ambitious reforms mooted during the ruling coalition's second term in government.
Finance Minister introduces pension bill in parliament (Reuters)
The finance minister introduced a long-awaited pension bill in parliament that would pave the way for private players in the sector and help cut government spending.
Food inflation snaps easing trend in mid-March (Reuters)
Food inflation snapped a three-week easing trend in mid-March and fuel inflation remained at elevated levels, keeping pressure on the RBI to rein in broader inflation.

Indian companies seek M&A deals in Canada (ET)
Indian companies are negotiating several M&A deals in Canada to secure technology, natural resources and access to the US market as they globalise operations.
Telecom infra and manufacturing recommendations next week: TRAI (ET)
The chairman of telecom regulator TRAI today said the body will come out with recommendations on the proposed new policies for telecom infrastructure and to encourage telecom equipment manufacturing in India next week.
PE investments in SMEs rise 70% in Jan-Feb (ET)
Small and medium enterprises (SMEs) have seen a 70% rise in private equity investments in the first two months of the calendar year, indicating willingness of entrepreneurs to open up and increased accessibility to PE funds in the country.
Projects below 200 MW not to get coal supply from govt (ET)
Projects below 200 MW coming on stream after March next year will not get coal supplies as the government looks to promote higher-capacity power plants that consume less fuel.
Govt has no immediate plans to raise fuel prices (Reuters)
The gov’t has no plans to raise petrol and diesel prices until the compl. of elections in some states, an oil min. source told reporters, despite surging global oil prices.
GAIL sees transmitting 118 mmscmd of natural gas in FY12 (Reuters)
Iindia's state-run gas utility GAIL (India) Ltd said on Thursday it planned to transmit 118.2 mmscmd (million metric standard cubic metres a day) from domestic sources and the liquefied natural gas route in the fiscal year beginning on April 1.
ABB bags $900 million order from PowerGrid (ET)
ABB said it has won orders worth $900 million from Power Grid Corporation of India , for an ultra high-voltage direct current (UHVDC) link, which will ease the power crisis in North India.
TCS bags Chinese bank contract (Reuters)
India's top software services exporter Tata Consultancy Services Ltd on Thursday said it had received a contract to provide its banking software technology solution to Shanghai Rural Commercial Bank.
Punjab National Bank to issue 1.51 million shares to govt (BS)
Punjab National Bank would issue 1.51 million shares to the government on a preferential basis, at Rs 1,218.8 apiece.
Bharti Airtel has no immediate plans for tower unit IPO (Reuters)
Bharti Airtel, India's top telecoms carrier, has no immediate plans for an initial public offering of its telecoms tower unit, Akhil Gupta.
M&M to invest over $67 mln in new plant (Reuters)
Mahindra & Mahindra, India's largest utility vehicles maker, will invest more than 3 billion rupees ($67 million) in a new tractor plant in Andhra Pradesh.
SBI mulling to raise up to $5 bln bonds (Reuters)
State Bank of India, the country's largest lender, is considering raising as much as $5 billion in dollar bonds to fund high-value loans to Indian firms having international operations, the Mint reported citing two unnamed senior company officials.
Eros eyes 35 pc growth in bottom line for FY 12 (ET)
Film content developer and aggregator, Eros International Media , is eyeing 35 % growth in its bottom line for FY 12 as it will focus more on profitability than top line.
Europe Services, Manufacturing Growth Slows More Than Economists Forecast (Bloomberg Finance LP)
Growth in Europe’s services and manufacturing industries slowed more than economists forecast in March after surging energy costs and Japan’s earthquake clouded the global growth outlook.

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