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India Equity Research Reports, IPO and Stock News
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Economy News
4 The Indian Railways has tied up with Japanese bank for funding of Rs 300
bn for its dedicated western freight corridor project that would connect
Mumbai to Delhi. The ambitious project involves building of nine large
industrial zones, high-speed freight line, three ports, six airports, a sixlane
intersection-free expressway connecting Mumbai with Delhi and a
4,000-MW power plant. (ET)
4 Food inflation fell to a three-month low because of a decline in vegetable
and cereal prices. For the week ended February 19, food inflation stood
at 10.39 per cent, almost one percentage point lower than 11.49
recorded for the previous week. The gain in food prices is the least since
November 27 last year. (BL)
4 The Government has said that it may not be possible to roll out the
Goods and Services Tax (GST) from April next year, as the proposal needs
the consent from all the states. DTC is expected to be rolled out from
April 2012. (BL)
4 The Supreme Court on Thursday quashed the appointment of Mr
P.J.Thomas as Central Vigilance Commissioner. His appointment was
earlier approved by a committee headed by the Prime Minister Dr
Manmohan Singh. (BL)
Corporate News
4 Canada's Geoglobal Resources will raise its stake in an exploration block
in the Krishna-Godavari Basin to 25% from its current 10% for an
undisclosed amount as it prepares to drill its first well in the block in one
of the most promising oil and gas hubs in the country. Currently, operator
Oil India Limited and Geoglobal control 90% and 10% stake
respectively in the high profile block that covers approximately 549 km.
(ET)
4 Reinforced polymer composites manufacturer Kemrock Industries and
Exports has entered into a joint venture with the Netherlands-based
DSM Composite Resins and will invest $25-30 million to set up a plant in
Pune. The joint venture company, to be known as DSM Kemrock India, is
targeting around $50-million revenue from the Indian market by 2015.
While DSM will hold a 51 per cent stake in the joint venture, the balance
49 per cent will remain with Kemrock. (BL)
4 Punjab National Bank will buy equity stake and enter into a corporate
agency tie-up with one of the 10 life insurers it has shortlisted, according
to a release issued by the state-run lender. According to chairman KR
Kamath, PNB, which is keen to buy stakes in life as well as non-life firms,
has received applications from 42 insurers.
4 JSW Energy and GVK Power and Infrastructure will have to submit
fresh bids for acquiring two coal assets put on the block by Hancock Coal
as the Australian firm now wants joint bids for the assets, sources said.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in
Australia's Queensland province.
4 Australia's largest telecommunications company Telstra plans to offshore
some of its finance, accounting and voice-related back-office processes as
part of a total overhaul. Infosys and Tech Mahindra (both of which
already work with Telstra) are competing with the likes of HP and IBM
for this deal, going by reports in the Australian media. (BL)
News Round-up
ONGC’s (ONGC IN) USD 2.55bn public issue will open on April 5. (BSTD)
NMDC (NMDC IN) signs USD 169 mn contract agreement with a consortium
comprising Siemens VAI, Austria, SVAI India and Nagarjuna Construction Company,
for turnkey execution of a sinter plant complex. (FNLE)
Ashok Leyland (AL IN) registers 25% growth in production. (FNLE)
Bharti Airtel (BHARTI IN) has launched 3G services that offer Live and on-demand TV
channels, video calling and high-speed Internet access, in Delhi and NCR. (FNLE)
Bajaj Auto (BJAUT IN) will launch the new Discover 125 next month as part of brand
strategy to grow sales from the present 1.25 lakh motorcycles each month. (THBL)
Lanco Infratech (LANCI IN) said it has received environmental clearance for its 1,320
Mw coal-based thermal power project in Maharashtra. (FNLE)
NDTV (NDTV IN) said it has completed sale of 49% stake in its arm NDTV Lifestyle
Holdings to Astro All Asia Networks Plc for USD 40 mn. (FNLE)
Cadbury India (CAD IN) has entered the biscuit market by launching the Oreo brand
from global portfolio of Kraft Foods, its parent company. (BSTD)
Gati Ltd. (GTIC IN) is likely to sell its shipping arm Gati Coast to Coast to a global
shipping player, talks are in final stages. Deal could be closed at USD 44.44 - 55.55
mn. (BSTD)
Paint makers like Asian Paints (APNT IN), Berger Paints (BRGR IN) & Kansai Nerolac
(KNPL IN) to raise prices fifth time this financial year. (BSTD)
PNB (PNB IN) plans to buy equity stake in a domestic life insurance co. to begin a new
innings in the insurance business. (BSTD)
Pfizer which has a tie up with Aurobindo Pharma (ARBP IN) on generic supplies,
would extend support to the Indian co. once they understand the issues related to
the USFDA import ban alert. (ECNT)
PFC (POWF IN) may raise up to USD 1bn in external commercial debt next fiscal.
(ECNT)
Non-invasive and radiation free testing for breast cancer is now available in the
country, following a tie-up between drug-maker Cipla (CIPLA IN) and the UE Life
Sciences Inc. (THBL)
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 Indian Railways has tied up with Japanese bank for funding of Rs 300
bn for its dedicated western freight corridor project that would connect
Mumbai to Delhi. The ambitious project involves building of nine large
industrial zones, high-speed freight line, three ports, six airports, a sixlane
intersection-free expressway connecting Mumbai with Delhi and a
4,000-MW power plant. (ET)
4 Food inflation fell to a three-month low because of a decline in vegetable
and cereal prices. For the week ended February 19, food inflation stood
at 10.39 per cent, almost one percentage point lower than 11.49
recorded for the previous week. The gain in food prices is the least since
November 27 last year. (BL)
4 The Government has said that it may not be possible to roll out the
Goods and Services Tax (GST) from April next year, as the proposal needs
the consent from all the states. DTC is expected to be rolled out from
April 2012. (BL)
4 The Supreme Court on Thursday quashed the appointment of Mr
P.J.Thomas as Central Vigilance Commissioner. His appointment was
earlier approved by a committee headed by the Prime Minister Dr
Manmohan Singh. (BL)
Corporate News
4 Canada's Geoglobal Resources will raise its stake in an exploration block
in the Krishna-Godavari Basin to 25% from its current 10% for an
undisclosed amount as it prepares to drill its first well in the block in one
of the most promising oil and gas hubs in the country. Currently, operator
Oil India Limited and Geoglobal control 90% and 10% stake
respectively in the high profile block that covers approximately 549 km.
(ET)
4 Reinforced polymer composites manufacturer Kemrock Industries and
Exports has entered into a joint venture with the Netherlands-based
DSM Composite Resins and will invest $25-30 million to set up a plant in
Pune. The joint venture company, to be known as DSM Kemrock India, is
targeting around $50-million revenue from the Indian market by 2015.
While DSM will hold a 51 per cent stake in the joint venture, the balance
49 per cent will remain with Kemrock. (BL)
4 Punjab National Bank will buy equity stake and enter into a corporate
agency tie-up with one of the 10 life insurers it has shortlisted, according
to a release issued by the state-run lender. According to chairman KR
Kamath, PNB, which is keen to buy stakes in life as well as non-life firms,
has received applications from 42 insurers.
4 JSW Energy and GVK Power and Infrastructure will have to submit
fresh bids for acquiring two coal assets put on the block by Hancock Coal
as the Australian firm now wants joint bids for the assets, sources said.
Hancock Coal is selling Kevin's Corner and Alpha Coal, both located in
Australia's Queensland province.
4 Australia's largest telecommunications company Telstra plans to offshore
some of its finance, accounting and voice-related back-office processes as
part of a total overhaul. Infosys and Tech Mahindra (both of which
already work with Telstra) are competing with the likes of HP and IBM
for this deal, going by reports in the Australian media. (BL)
News Round-up
ONGC’s (ONGC IN) USD 2.55bn public issue will open on April 5. (BSTD)
NMDC (NMDC IN) signs USD 169 mn contract agreement with a consortium
comprising Siemens VAI, Austria, SVAI India and Nagarjuna Construction Company,
for turnkey execution of a sinter plant complex. (FNLE)
Ashok Leyland (AL IN) registers 25% growth in production. (FNLE)
Bharti Airtel (BHARTI IN) has launched 3G services that offer Live and on-demand TV
channels, video calling and high-speed Internet access, in Delhi and NCR. (FNLE)
Bajaj Auto (BJAUT IN) will launch the new Discover 125 next month as part of brand
strategy to grow sales from the present 1.25 lakh motorcycles each month. (THBL)
Lanco Infratech (LANCI IN) said it has received environmental clearance for its 1,320
Mw coal-based thermal power project in Maharashtra. (FNLE)
NDTV (NDTV IN) said it has completed sale of 49% stake in its arm NDTV Lifestyle
Holdings to Astro All Asia Networks Plc for USD 40 mn. (FNLE)
Cadbury India (CAD IN) has entered the biscuit market by launching the Oreo brand
from global portfolio of Kraft Foods, its parent company. (BSTD)
Gati Ltd. (GTIC IN) is likely to sell its shipping arm Gati Coast to Coast to a global
shipping player, talks are in final stages. Deal could be closed at USD 44.44 - 55.55
mn. (BSTD)
Paint makers like Asian Paints (APNT IN), Berger Paints (BRGR IN) & Kansai Nerolac
(KNPL IN) to raise prices fifth time this financial year. (BSTD)
PNB (PNB IN) plans to buy equity stake in a domestic life insurance co. to begin a new
innings in the insurance business. (BSTD)
Pfizer which has a tie up with Aurobindo Pharma (ARBP IN) on generic supplies,
would extend support to the Indian co. once they understand the issues related to
the USFDA import ban alert. (ECNT)
PFC (POWF IN) may raise up to USD 1bn in external commercial debt next fiscal.
(ECNT)
Non-invasive and radiation free testing for breast cancer is now available in the
country, following a tie-up between drug-maker Cipla (CIPLA IN) and the UE Life
Sciences Inc. (THBL)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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