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News This Week
Economics
India’s industrial output in January topped forecasts to grow an annual 3.7%
compared to 1.6% in December. – Media
India's merchandise exports surged 49.8% from a year earlier in February to
$23.6 billion, setting the stage to comfortably breach the government's
recently raised target for the full fiscal year.
Politics
The ruling DMK and the Congress signed a pact for next month's Tamil Nadu
assembly elections , a day after the DMK agreed to let the latter contest 63 of
the state's 234 seats. - Media
Corporate
Essar Group has bought 54% stake in Zimbabwe’s state-owned steelmaker,
Zisco. The total deal value is $750mn, which includes $340mn of debt.-Media
Nippon Life Insurance plans to buy a 26% stake in India's Reliance Life for
about $724 million. -Media
The government has deferred the share sale of state-owned Oil and Natural
Gas Corp to the second half of 2011.-Media
ADAG company, RCom has completed final documentation with China
Development Bank for $1.33 billion loan facility. -Media
The Cabinet is likely to consider giving approval to the Vedanta Resources'
$9.6 billion buyout of Cairn India next week. -Media
JSW Steel reported an 8% increase in crude steel production to 5.41 lakh
tonne in February from 5.02 lakh tonne in the same month last year. -Media
Bank of Baroda will raise up to Rs 32.8bn through a preferential allotment of
shares to the government at Rs 902 each. – Media
Jet Airways is in talks with starting a reciprocal frequent flyer partnership with
Air France-KLM combine. -Media
TVS Motor Company will re-enter the Indian electric scooter market with
some existing and new models in the next fiscal. –Media
Hero Group will pay Rs. 38.4bn for Honda’s 26% stake in their joint venture
Hero Honda. - Media
Sesa Goa has emerged on top in a battle for ownership of the assets of
Bellary Steel.- Media
Ispat Industries that was acquired by Sajjan Jindal's JSW Group in
December last, will buy 26% in the group's 300 megawatt Ratnagiri Power
Project .- Media
Ipca Lab’s formulations manufacturing unit at a SEZ in Indore has received
the UK health regulator's approval for good manufacturing practices. – Media
Grasim has reportedly hiked prices of VSF by Rs6/kg (+4%) in Mar '11. This
hike follows a series of earlier increases through FY11, starting in Oct '10.
Source: Collated from Bloomberg and following newspapers - Economic Times, Live Mint,
Business Standard & Financial Express dated Mar 5 - 11, 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News This Week
Economics
India’s industrial output in January topped forecasts to grow an annual 3.7%
compared to 1.6% in December. – Media
India's merchandise exports surged 49.8% from a year earlier in February to
$23.6 billion, setting the stage to comfortably breach the government's
recently raised target for the full fiscal year.
Politics
The ruling DMK and the Congress signed a pact for next month's Tamil Nadu
assembly elections , a day after the DMK agreed to let the latter contest 63 of
the state's 234 seats. - Media
Corporate
Essar Group has bought 54% stake in Zimbabwe’s state-owned steelmaker,
Zisco. The total deal value is $750mn, which includes $340mn of debt.-Media
Nippon Life Insurance plans to buy a 26% stake in India's Reliance Life for
about $724 million. -Media
The government has deferred the share sale of state-owned Oil and Natural
Gas Corp to the second half of 2011.-Media
ADAG company, RCom has completed final documentation with China
Development Bank for $1.33 billion loan facility. -Media
The Cabinet is likely to consider giving approval to the Vedanta Resources'
$9.6 billion buyout of Cairn India next week. -Media
JSW Steel reported an 8% increase in crude steel production to 5.41 lakh
tonne in February from 5.02 lakh tonne in the same month last year. -Media
Bank of Baroda will raise up to Rs 32.8bn through a preferential allotment of
shares to the government at Rs 902 each. – Media
Jet Airways is in talks with starting a reciprocal frequent flyer partnership with
Air France-KLM combine. -Media
TVS Motor Company will re-enter the Indian electric scooter market with
some existing and new models in the next fiscal. –Media
Hero Group will pay Rs. 38.4bn for Honda’s 26% stake in their joint venture
Hero Honda. - Media
Sesa Goa has emerged on top in a battle for ownership of the assets of
Bellary Steel.- Media
Ispat Industries that was acquired by Sajjan Jindal's JSW Group in
December last, will buy 26% in the group's 300 megawatt Ratnagiri Power
Project .- Media
Ipca Lab’s formulations manufacturing unit at a SEZ in Indore has received
the UK health regulator's approval for good manufacturing practices. – Media
Grasim has reportedly hiked prices of VSF by Rs6/kg (+4%) in Mar '11. This
hike follows a series of earlier increases through FY11, starting in Oct '10.
Source: Collated from Bloomberg and following newspapers - Economic Times, Live Mint,
Business Standard & Financial Express dated Mar 5 - 11, 2011.
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