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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The banking sector is bracing itself for a rate hike of 25 basis points in the
mid-quarter review of the RBI scheduled for Thursday. The RBI has so far
hiked rates seven times during the last one year and pushed its repo rate
(the rate at which it provides liquidity to banks) to 6.5%. (BL)
4 All special economic zones (SEZs) cleared when Kamal Nath was
commerce minister have come under the finance ministry scanner. Apart
from the tax issues, the finance ministry is looking into whether the
approvals meet all policy parameters or not. Officials said a large number
of big SEZs were cleared during this period, including those belonging to
the Adani group, Reliance, GMR and GVK. (BS)
4 Exports of Indian teas to Egypt remain almost suspended ever since the
outbreak of political crisis in the North African nation, negatively
affecting the tea shipments from the country, according to export
sources. The current turmoil in other north African and Gulf countries
such as Libya and Yemen is also impacting indirectly the Indian tea
shipments, according to the trade sources and the Upasi. (BL)
Corporate News
4 IVRCL power, buildings and transportation divisions have bagged orders
worth Rs 5.65bn. An order worth Rs 2.4bn was received from Power Grid
Corporation for transmission project in the North Eastern Region while
another order worth Rs 1.2bn is meant for work in Orissa. (BL)
4 The Mumbai-based custodian released on Wednesday a payment of Rs
21.95 bn, recovered from the sale of Harshad Mehta’s assets to the
Income Tax department and the State Bank of India. It handed over Rs
19.96bn and Rs 1.99bn to senior revenue and bank officials respectively.
(BS)
4 BS Transcomm Ltd, a power and telecom transmission infrastructure
turnkey solutions provider, is set to double installed annual capacity of
1,20,000 mn tonnes by September 2011. The company has an order book
of over Rs 6bn as on December 2010 which has to be implemented within
one year. (BL)
4 TVS Motors is mulling a low-priced motorcycle to shore up volumes in
the Indian market. The product, when introduced, would be the cheapest
motorcycle in the country. It is working on two products. It would take us
another eight to nine months to launch these motorcycles commercially in
the market. (BS)
4 Jyothy Laboratories maker of the popular Ujala fabric whitener, has
acquired 14.9% stake in Henkel India. The move will make JLL the single
largest Indian shareholder in the Indian arm of the struggling Chennaibased maker of Henko detergent and Fa deodorant. It will aggressively
bid for a controlling stake in Henkel. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The banking sector is bracing itself for a rate hike of 25 basis points in the
mid-quarter review of the RBI scheduled for Thursday. The RBI has so far
hiked rates seven times during the last one year and pushed its repo rate
(the rate at which it provides liquidity to banks) to 6.5%. (BL)
4 All special economic zones (SEZs) cleared when Kamal Nath was
commerce minister have come under the finance ministry scanner. Apart
from the tax issues, the finance ministry is looking into whether the
approvals meet all policy parameters or not. Officials said a large number
of big SEZs were cleared during this period, including those belonging to
the Adani group, Reliance, GMR and GVK. (BS)
4 Exports of Indian teas to Egypt remain almost suspended ever since the
outbreak of political crisis in the North African nation, negatively
affecting the tea shipments from the country, according to export
sources. The current turmoil in other north African and Gulf countries
such as Libya and Yemen is also impacting indirectly the Indian tea
shipments, according to the trade sources and the Upasi. (BL)
Corporate News
4 IVRCL power, buildings and transportation divisions have bagged orders
worth Rs 5.65bn. An order worth Rs 2.4bn was received from Power Grid
Corporation for transmission project in the North Eastern Region while
another order worth Rs 1.2bn is meant for work in Orissa. (BL)
4 The Mumbai-based custodian released on Wednesday a payment of Rs
21.95 bn, recovered from the sale of Harshad Mehta’s assets to the
Income Tax department and the State Bank of India. It handed over Rs
19.96bn and Rs 1.99bn to senior revenue and bank officials respectively.
(BS)
4 BS Transcomm Ltd, a power and telecom transmission infrastructure
turnkey solutions provider, is set to double installed annual capacity of
1,20,000 mn tonnes by September 2011. The company has an order book
of over Rs 6bn as on December 2010 which has to be implemented within
one year. (BL)
4 TVS Motors is mulling a low-priced motorcycle to shore up volumes in
the Indian market. The product, when introduced, would be the cheapest
motorcycle in the country. It is working on two products. It would take us
another eight to nine months to launch these motorcycles commercially in
the market. (BS)
4 Jyothy Laboratories maker of the popular Ujala fabric whitener, has
acquired 14.9% stake in Henkel India. The move will make JLL the single
largest Indian shareholder in the Indian arm of the struggling Chennaibased maker of Henko detergent and Fa deodorant. It will aggressively
bid for a controlling stake in Henkel. (ET)
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