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News Round-up
SEBI is expected to clear the open offer for the USD 1.22bn acquisition of Patni
(PATNI IN) by iGate. (ECNT)
ONGC (ONGC IN) is facing problems in getting Cairn India's (CAIR IN) approval for
developing its KG basin discoveries where the private energy firm is a minority
partner. (ECNT-Sat)
The decline in natural gas output from RIL's (RIL IN) D6 block in the Krishna-Godavari
basin could lead to an increase in the government's fertiliser subsidy burden or an
increase in the price of urea. (FNLE)
Reliance Industries (RIL IN) enters financial services business. Sets up joint venture with
D E Shaw. The company will have a formidable presence in financial services,
considering that it is close to picking up a controlling stake in IL&FS, which ended
2010 with assets of over USD 1.55 bn. (BSTD)
Cement prices up Rs10/bag, Rise in excise duty, Raw material prices main reasons.
(THBL-SAT)
L&T (LT IN) plans to sell stake in some less-than-equal joint ventures. The trigger for
the review of joint ventures is the company focus on high-end technology and
protecting brand equity. (BSTD)
Government replaces Canoro with ONGC at Assam oil block. (BSTD)
PFC (POWF IN) FPO likely to hit market on May 10. (BSTD)
Future Capital Holdings decided to exit from its two equal joint ventures with
Centrum Capital, paving the way for plans to independently grow its broking and
wealth management businesses. (BSTD-Sat)
Tata Steel (TATA IN) has transferred the ownership of the assets of its Teesside plant
in the UK to Sahaviriya Steel Industries, for which a pact was reached last month.
(BSTD-Sat)
Reliance Infrastructure (RELI IN) said it had withdrawn a scheme of arrangement to
demerge the company, which it had proposed in 2009. (BSTD-Sat)
SBI (SBIN IN) was planning to raise about USD 1 bn from overseas markets in the next
financial year. The funds will be raised through bonds to support the bank's growth
plans next year. (BSTD-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 �� ��
News Round-up
SEBI is expected to clear the open offer for the USD 1.22bn acquisition of Patni
(PATNI IN) by iGate. (ECNT)
ONGC (ONGC IN) is facing problems in getting Cairn India's (CAIR IN) approval for
developing its KG basin discoveries where the private energy firm is a minority
partner. (ECNT-Sat)
The decline in natural gas output from RIL's (RIL IN) D6 block in the Krishna-Godavari
basin could lead to an increase in the government's fertiliser subsidy burden or an
increase in the price of urea. (FNLE)
Reliance Industries (RIL IN) enters financial services business. Sets up joint venture with
D E Shaw. The company will have a formidable presence in financial services,
considering that it is close to picking up a controlling stake in IL&FS, which ended
2010 with assets of over USD 1.55 bn. (BSTD)
Cement prices up Rs10/bag, Rise in excise duty, Raw material prices main reasons.
(THBL-SAT)
L&T (LT IN) plans to sell stake in some less-than-equal joint ventures. The trigger for
the review of joint ventures is the company focus on high-end technology and
protecting brand equity. (BSTD)
Government replaces Canoro with ONGC at Assam oil block. (BSTD)
PFC (POWF IN) FPO likely to hit market on May 10. (BSTD)
Future Capital Holdings decided to exit from its two equal joint ventures with
Centrum Capital, paving the way for plans to independently grow its broking and
wealth management businesses. (BSTD-Sat)
Tata Steel (TATA IN) has transferred the ownership of the assets of its Teesside plant
in the UK to Sahaviriya Steel Industries, for which a pact was reached last month.
(BSTD-Sat)
Reliance Infrastructure (RELI IN) said it had withdrawn a scheme of arrangement to
demerge the company, which it had proposed in 2009. (BSTD-Sat)
SBI (SBIN IN) was planning to raise about USD 1 bn from overseas markets in the next
financial year. The funds will be raised through bonds to support the bank's growth
plans next year. (BSTD-Sat)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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