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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 In what must have come as some relief for the Government, bidding for
oil and gas blocks on offer under NELP-IX (which closed yesterday) met
with a better response than that seen under NELP-VIII. Out of the 34
blocks on offer in this latest and possibly last round of NELP (before the
open acreage licensing policy comes into play), 74 bids were received for
33 blocks. Only one offshore block did not receive any bid
4 The Micro Finance (Development and Regulation) Bill proposes to cover all
types of microfinance institutions (MFIs). The Bill’s 2007 version covered
only MFIs not regulated by the Reserve Bank of India (RBI). As a result,
banks and a few categories of non-banking finance companies (NBFCs)
were outside its purview. (ET)
4 A key committee of secretaries that met on Monday has agreed "in
principle" to bring urea under the nutrient based subsidy regime, or NBS,
allowing for a hike up to 10% in the farm gate price of urea in the first
year. The CoS has also "tentatively" agreed to provide a flat subsidy of Rs
4000/tonne to all gas-based plants. (ET)
Corporate News
4 With three drug recalls in about two years after Pfizer Inc tied up with
Indian partners Aurobindo Pharma and Claris Lifesciences, the USbased
drug-maker is taking up its concerns with these suppliers. “We are
discussing these concerns with our suppliers and will take whatever steps
are necessary to ensure the safety of patients and the quality of the
products we provide,” Pfizer Inc's spokesperson told Business Line, in an
e-mailed response from New York. (BL)
4 Voltas Ltd on Monday informed the stock exchanges that the board of
directors of Voltas Oman LLC, its joint venture company in Oman, has
allotted shares amounting to Omani Riyal 500,000 to the two partners.
Voltas Oman LLC is 65 per cent owned by Voltas and 35 per cent by the
Mustafa Sultan Group. The joint venture would be in the business of
executing electro-mechanical projects in Oman. (BL)
4 Promoters of the Ahmedabad-based Electrotherm Group today
announced a joint venture with Immodo Solar S A, a Spanish company, for
the promotion and development of solar photovoltaic projects for solar
farms and other grid and non-grid applications. In its first year, the JV is
expecting to execute 30 MW of projects with revenues of Rs 3.5 bn in
2011-12. (BL)
4 Natco Pharma's novel anti-cancer drug has received ‘Orphan drug
designation', from the US Food and Drug Administration (USFDA). It is
the first Indian company's drug to get such a designation for three
indication. (BL)
4 Oil and Natural Gas Corporation (ONGC) has emerged the provisional
winner for close to 10 out of the 29 blocks it has bid for in the ninth round
of the New Exploration Licensing Policy (Nelp). It had won nearly twothirds
of the blocks offered in the previous rounds. (BS)
4 Axis Bank has withdrawn its proposal to induct Vallabh Bhansali, cofounder
and chairman of Enam Securities, on the board, following the
Reserve Bank of India’s (RBI’s) discomfort. In November last year, Enam
sold its investment banking, institutional and retail equity businesses to
the bank. Bhansali’s induction on the board as an independent director
was part of the deal. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 In what must have come as some relief for the Government, bidding for
oil and gas blocks on offer under NELP-IX (which closed yesterday) met
with a better response than that seen under NELP-VIII. Out of the 34
blocks on offer in this latest and possibly last round of NELP (before the
open acreage licensing policy comes into play), 74 bids were received for
33 blocks. Only one offshore block did not receive any bid
4 The Micro Finance (Development and Regulation) Bill proposes to cover all
types of microfinance institutions (MFIs). The Bill’s 2007 version covered
only MFIs not regulated by the Reserve Bank of India (RBI). As a result,
banks and a few categories of non-banking finance companies (NBFCs)
were outside its purview. (ET)
4 A key committee of secretaries that met on Monday has agreed "in
principle" to bring urea under the nutrient based subsidy regime, or NBS,
allowing for a hike up to 10% in the farm gate price of urea in the first
year. The CoS has also "tentatively" agreed to provide a flat subsidy of Rs
4000/tonne to all gas-based plants. (ET)
Corporate News
4 With three drug recalls in about two years after Pfizer Inc tied up with
Indian partners Aurobindo Pharma and Claris Lifesciences, the USbased
drug-maker is taking up its concerns with these suppliers. “We are
discussing these concerns with our suppliers and will take whatever steps
are necessary to ensure the safety of patients and the quality of the
products we provide,” Pfizer Inc's spokesperson told Business Line, in an
e-mailed response from New York. (BL)
4 Voltas Ltd on Monday informed the stock exchanges that the board of
directors of Voltas Oman LLC, its joint venture company in Oman, has
allotted shares amounting to Omani Riyal 500,000 to the two partners.
Voltas Oman LLC is 65 per cent owned by Voltas and 35 per cent by the
Mustafa Sultan Group. The joint venture would be in the business of
executing electro-mechanical projects in Oman. (BL)
4 Promoters of the Ahmedabad-based Electrotherm Group today
announced a joint venture with Immodo Solar S A, a Spanish company, for
the promotion and development of solar photovoltaic projects for solar
farms and other grid and non-grid applications. In its first year, the JV is
expecting to execute 30 MW of projects with revenues of Rs 3.5 bn in
2011-12. (BL)
4 Natco Pharma's novel anti-cancer drug has received ‘Orphan drug
designation', from the US Food and Drug Administration (USFDA). It is
the first Indian company's drug to get such a designation for three
indication. (BL)
4 Oil and Natural Gas Corporation (ONGC) has emerged the provisional
winner for close to 10 out of the 29 blocks it has bid for in the ninth round
of the New Exploration Licensing Policy (Nelp). It had won nearly twothirds
of the blocks offered in the previous rounds. (BS)
4 Axis Bank has withdrawn its proposal to induct Vallabh Bhansali, cofounder
and chairman of Enam Securities, on the board, following the
Reserve Bank of India’s (RBI’s) discomfort. In November last year, Enam
sold its investment banking, institutional and retail equity businesses to
the bank. Bhansali’s induction on the board as an independent director
was part of the deal. (BS)
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