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India Equity Research Reports, IPO and Stock News
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Economy News
4 After a gap of three months, food inflation fell to the single digit at
9.52% during the week ended February 26, raising hopes that the overall
inflation might come down close to seven per cent by the end of this
financial year, as projected by the finance ministry. (BS)
4 The government is likely to consider abolition of a 5% Customs duty on
crude oil if prices start moving towards the June 2008 levels when crude
prices were skyrocketing and triggering policy initiatives. (BS)
4 Goods export in February shot up by 49.8% over the same month last
year - posting an 11-month high - to $23.6 billion, enabling the country to
surpass the 2010-11 export targets of $200 billion well in advance. (BL)
4 With funding requirements posing a major challenge for the
infrastructure sector, the Securities and Exchange Board of India (SEBI)
and the Reserve Bank of India (RBI) are in consultation with the
government for creating a separate regulatory framework for
infrastructure debt funds. (BS)
Corporate News
4 Sesa Goa has emerged on top in a battle for ownership of the assets of
Bellary Steel & Alloys - a little-known company that owns 700 acres
in a part of Karnataka known for its mineral riches - edging out JSW Steel
in a court-directed auction process that took place earlier this week. (ET)
4 India's largest two-wheeler maker Hero Honda has roped in Londonbased consultancy firm Wolff Olins to create a new brand identity
following the exit of Japanese joint venture partner Honda Motor . The
new brand identity will include a new logo, brand name and brand
positioning. (ET)
4 Adani group's global interests has taken a new turn with the group's
ports division Mundra Ports and Special Economic Zone submitting a
tentative bid last week for Australia's Abbot Port Terminal . A deal size
could go upwards of $1 billion, according to a source who was aware of
the assets on the block. (ET)
4 Global mining giant Rio Tinto on Thursday said it has improved its bid
price to A$ 16.50 per share for acquiring Australian firm Riversdale
following the lukewarm response from shareholders of the targeted
firm. Tata Steel along with Brazilian steelmaker Companhia Siderurgica
Nacional (CSN), which had recently increased its stake in Riversdale to
19.9 per cent, together hold over 47 per cent stake in the Australian firm.
(ET)
4 Nestle India has chosen Himachal Pradesh for its ninth manufacturing
facility in the country. The new facility to manufacture chocolate and
noodles may entail an investment of "anywhere between Rs 4-5bn". (BL)
News Round-up
` After a gap of three months, food inflation saw a single-digit rise in the last week of
February. It fell to 9.52% from 10.39% in the previous week. (BSTD)
` India's exports jumped 50% in Feb., helping the country cross the USD 200bn target
for the fiscal year with a month to spare & offering some hope to the govt. amid
concerns over the rising oil import bill. (ECNT)
` ICICI Bank (ICICIBC IN) and the Anil Ambani Group are looking at CLSA and
Cheuvreux, the broking franchises of French financial conglomerate Credit Agricole.
Bothe franchises put together may be valued at USD 3.5 bn. (BSTD)
` ONGC (ONGC IN) FPO deferred till second quarter of 2011-12. (BSTD)
` PFC (POWF IN) likely to file DRHP next week. Road shows planned in last week of
April. The public offer of PFC includes 15% fresh issue of shares by the company and
5% divestment by the government. Retail investors and PFC employees will be
eligible for a discount of 5% on the issue price. (FNLE)
` Tata Motors (TTMT IN) launched the Indica eV2, promoted as the most fuel efficient
car in India, with a mileage of 25 km-/litre (CR4 diesel engine), certified by the
Automotive Research Association of India. (BSTD)
` Tata Steel Group said its expenses on key raw materials were likely to go up by USD 1
bn in the current financial year to USD 7 bn due to a rise in input costs (BSTD)
` Reliance Broadcast Network is going for a 50:50 joint venture with Europe's leading
television and radio network, RTL group to launch a series of television channels in
India. (BSTD)
` The Essar Group, has bought a 54% stake in Zimbabwe's state-owned steelmaker,
Zisco, for USD 750 mn. (BSTD)
` Godrej Properties (GPL IN) has acquired the entire stake in a real estate firm from
HDFC Venture Trustee Company for USD 5 mn. (BSTD)
` Pantaloon Retail (PF IN) has hiked prices of its branded apparel by 18% from this
month. (BSTD)
` Nestle India Ltd (NEST IN) is planning to invest around USD 333 mn in India in various
capacity expansion. (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 After a gap of three months, food inflation fell to the single digit at
9.52% during the week ended February 26, raising hopes that the overall
inflation might come down close to seven per cent by the end of this
financial year, as projected by the finance ministry. (BS)
4 The government is likely to consider abolition of a 5% Customs duty on
crude oil if prices start moving towards the June 2008 levels when crude
prices were skyrocketing and triggering policy initiatives. (BS)
4 Goods export in February shot up by 49.8% over the same month last
year - posting an 11-month high - to $23.6 billion, enabling the country to
surpass the 2010-11 export targets of $200 billion well in advance. (BL)
4 With funding requirements posing a major challenge for the
infrastructure sector, the Securities and Exchange Board of India (SEBI)
and the Reserve Bank of India (RBI) are in consultation with the
government for creating a separate regulatory framework for
infrastructure debt funds. (BS)
Corporate News
4 Sesa Goa has emerged on top in a battle for ownership of the assets of
Bellary Steel & Alloys - a little-known company that owns 700 acres
in a part of Karnataka known for its mineral riches - edging out JSW Steel
in a court-directed auction process that took place earlier this week. (ET)
4 India's largest two-wheeler maker Hero Honda has roped in Londonbased consultancy firm Wolff Olins to create a new brand identity
following the exit of Japanese joint venture partner Honda Motor . The
new brand identity will include a new logo, brand name and brand
positioning. (ET)
4 Adani group's global interests has taken a new turn with the group's
ports division Mundra Ports and Special Economic Zone submitting a
tentative bid last week for Australia's Abbot Port Terminal . A deal size
could go upwards of $1 billion, according to a source who was aware of
the assets on the block. (ET)
4 Global mining giant Rio Tinto on Thursday said it has improved its bid
price to A$ 16.50 per share for acquiring Australian firm Riversdale
following the lukewarm response from shareholders of the targeted
firm. Tata Steel along with Brazilian steelmaker Companhia Siderurgica
Nacional (CSN), which had recently increased its stake in Riversdale to
19.9 per cent, together hold over 47 per cent stake in the Australian firm.
(ET)
4 Nestle India has chosen Himachal Pradesh for its ninth manufacturing
facility in the country. The new facility to manufacture chocolate and
noodles may entail an investment of "anywhere between Rs 4-5bn". (BL)
News Round-up
` After a gap of three months, food inflation saw a single-digit rise in the last week of
February. It fell to 9.52% from 10.39% in the previous week. (BSTD)
` India's exports jumped 50% in Feb., helping the country cross the USD 200bn target
for the fiscal year with a month to spare & offering some hope to the govt. amid
concerns over the rising oil import bill. (ECNT)
` ICICI Bank (ICICIBC IN) and the Anil Ambani Group are looking at CLSA and
Cheuvreux, the broking franchises of French financial conglomerate Credit Agricole.
Bothe franchises put together may be valued at USD 3.5 bn. (BSTD)
` ONGC (ONGC IN) FPO deferred till second quarter of 2011-12. (BSTD)
` PFC (POWF IN) likely to file DRHP next week. Road shows planned in last week of
April. The public offer of PFC includes 15% fresh issue of shares by the company and
5% divestment by the government. Retail investors and PFC employees will be
eligible for a discount of 5% on the issue price. (FNLE)
` Tata Motors (TTMT IN) launched the Indica eV2, promoted as the most fuel efficient
car in India, with a mileage of 25 km-/litre (CR4 diesel engine), certified by the
Automotive Research Association of India. (BSTD)
` Tata Steel Group said its expenses on key raw materials were likely to go up by USD 1
bn in the current financial year to USD 7 bn due to a rise in input costs (BSTD)
` Reliance Broadcast Network is going for a 50:50 joint venture with Europe's leading
television and radio network, RTL group to launch a series of television channels in
India. (BSTD)
` The Essar Group, has bought a 54% stake in Zimbabwe's state-owned steelmaker,
Zisco, for USD 750 mn. (BSTD)
` Godrej Properties (GPL IN) has acquired the entire stake in a real estate firm from
HDFC Venture Trustee Company for USD 5 mn. (BSTD)
` Pantaloon Retail (PF IN) has hiked prices of its branded apparel by 18% from this
month. (BSTD)
` Nestle India Ltd (NEST IN) is planning to invest around USD 333 mn in India in various
capacity expansion. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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