Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Wholesale price-based food inflation reverted to single digits at 9.5 per
cent during the week ended March 19, as the rate of price rise came
down in a number of essential items (BS).
4 The government's fiscal deficit at the end of January 2011 was Rs.2.75
trillion, representing 68.6 per cent of the budget estimate (BE) of Rs.3.81
trillion for the year (SB).
4 India's apparel exports grew by about 24% to $1.1 billion in February
2011 the highest in this fiscal year-on-year, due to a strong demand from
the US and European markets (ET).
4 The government has capped the service tax on foreign exchange
transactions at Rs.50 bn with an aim to provide relief to market
participants who feared high tax incidence would lead to a sharp decline
in foreign exchange transaction volumes (BS).
Corporate News
4 The promoters of Kingfisher Airlines have converted 7.5%
compulsorily convertible preference shares (CCPS) into equity shares at a
conversion price of Rs.48. The conversion, which has been done at 60%
premium to the current market price of.Rs.39.9, will help the company
reduce its debt by 7.5 bn (ET).
4 Macquarie SBI Infrastructure Investments has invested Rs.8.9 bn in GMR
Infrastructure wholly-owned subsidiary GMR Airports Holding (ET).
4 Larsen & Toubro has sold its entire stake in L&T-CASE Equipment to
joint venture partner CNH Global (ET).
4 KEC International has won orders worth Rs.8 bn, including orders
worth1.5 bn by its US-based subsidiary SAE Towers (ET).
4 Kalpataru Power Transmission Limited (KPTL) has secured orders
worth Rs.9.5 bn. With the new orders, the company's total order book is
now over Rs 55 bn (BS).
4 ICICI Bank, HDFC Bank and other banks that have more than 50%
foreign investment will be treated as foreign companies as per the new
FDI policy, imposing restriction on their downstream investments in
sectors which are barred for foreign investment (ET).
4 Coal India Ltd (CIL) has set production and coal off-take targets of 452
million tonnes (MT) and 454 MT respectively for the financial year 2011-
12 (BS).
4 Consumers of natural gas from Reliance Industries' D6 field are facing
a pro-rata cut due to falling supply, but if output dips further, the
government may step in to re-allocate gas in favour of high-priority
sectors such as fertilizers and power (ET).
News Round-up
Wholesale price-based food inflation reverted to single digits at 9.5% during the
week ended March 19, as the rate of price rise came down in a number of essential
items like vegetables and milk. (BSTD)
Inline with the Budgetary announcement, the capital markets regulator raised the
investment limit of FII's to USD 25 bn in corporate bonds issued by companies in the
infrastructure sector with a residual maturity of over five years. Earlier the limit was
USD 5 bn. (BSTD)
Foreign firms in joint ventures get full freedom. New FDI policy says convertible
instruments need not be priced upfront. No approval needed from Indian partner in
JV/technical collaboration for a new venture. More leeway for foreign companies on
downstream investments and pricing of convertible instruments. More liberal policy
on non-cash share allotments to foreign companies. (BSTD)
Consumers of natural gas from Reliance Ind.'s (RIL IN) D6 field are facing a pro-rata
cut due to dwindling supply, but if output dips further, the govt. may step in to reallocate
gas in favour of high priority sectors such as fertilisers & power. (ECNT)
Essar exits Vodafone for USD 5 bn. Ruias exercise call option, valuing company at
USD 14.96 bn. (BSTD)
Hindalco Industries (HNDL IN) has raised USD 1.75 bn from various banks and has
received the financial closure for its Mahan Aluminium project. (BSTD)
The small car under development at Bajaj Auto (BJAUT IN), which is expected to take
on Tata's Nano, will hit the market in 2012. (BSTD)
L&T (LT IN) sold its 50% stake in L&T-CASE Equipments to its joint venture partner
CNH Global NV. (BSTD)
3i India Infrastructure Fund is investing around USD 45 mn for a minority stake in Ind-
Barath Energy (Uktal), a subsidiary of Ind-Barath Power Infra (IBPIL), which is building
a 700 Mw coal-based power plant in Orissa. This is the second deal by 3i this month.
(BSTD)
3i India Infrastructure Fund, part of UK listed 3i group, invests USD 155.55mn in
road, power projects. (ECNT)
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 Wholesale price-based food inflation reverted to single digits at 9.5 per
cent during the week ended March 19, as the rate of price rise came
down in a number of essential items (BS).
4 The government's fiscal deficit at the end of January 2011 was Rs.2.75
trillion, representing 68.6 per cent of the budget estimate (BE) of Rs.3.81
trillion for the year (SB).
4 India's apparel exports grew by about 24% to $1.1 billion in February
2011 the highest in this fiscal year-on-year, due to a strong demand from
the US and European markets (ET).
4 The government has capped the service tax on foreign exchange
transactions at Rs.50 bn with an aim to provide relief to market
participants who feared high tax incidence would lead to a sharp decline
in foreign exchange transaction volumes (BS).
Corporate News
4 The promoters of Kingfisher Airlines have converted 7.5%
compulsorily convertible preference shares (CCPS) into equity shares at a
conversion price of Rs.48. The conversion, which has been done at 60%
premium to the current market price of.Rs.39.9, will help the company
reduce its debt by 7.5 bn (ET).
4 Macquarie SBI Infrastructure Investments has invested Rs.8.9 bn in GMR
Infrastructure wholly-owned subsidiary GMR Airports Holding (ET).
4 Larsen & Toubro has sold its entire stake in L&T-CASE Equipment to
joint venture partner CNH Global (ET).
4 KEC International has won orders worth Rs.8 bn, including orders
worth1.5 bn by its US-based subsidiary SAE Towers (ET).
4 Kalpataru Power Transmission Limited (KPTL) has secured orders
worth Rs.9.5 bn. With the new orders, the company's total order book is
now over Rs 55 bn (BS).
4 ICICI Bank, HDFC Bank and other banks that have more than 50%
foreign investment will be treated as foreign companies as per the new
FDI policy, imposing restriction on their downstream investments in
sectors which are barred for foreign investment (ET).
4 Coal India Ltd (CIL) has set production and coal off-take targets of 452
million tonnes (MT) and 454 MT respectively for the financial year 2011-
12 (BS).
4 Consumers of natural gas from Reliance Industries' D6 field are facing
a pro-rata cut due to falling supply, but if output dips further, the
government may step in to re-allocate gas in favour of high-priority
sectors such as fertilizers and power (ET).
News Round-up
Wholesale price-based food inflation reverted to single digits at 9.5% during the
week ended March 19, as the rate of price rise came down in a number of essential
items like vegetables and milk. (BSTD)
Inline with the Budgetary announcement, the capital markets regulator raised the
investment limit of FII's to USD 25 bn in corporate bonds issued by companies in the
infrastructure sector with a residual maturity of over five years. Earlier the limit was
USD 5 bn. (BSTD)
Foreign firms in joint ventures get full freedom. New FDI policy says convertible
instruments need not be priced upfront. No approval needed from Indian partner in
JV/technical collaboration for a new venture. More leeway for foreign companies on
downstream investments and pricing of convertible instruments. More liberal policy
on non-cash share allotments to foreign companies. (BSTD)
Consumers of natural gas from Reliance Ind.'s (RIL IN) D6 field are facing a pro-rata
cut due to dwindling supply, but if output dips further, the govt. may step in to reallocate
gas in favour of high priority sectors such as fertilisers & power. (ECNT)
Essar exits Vodafone for USD 5 bn. Ruias exercise call option, valuing company at
USD 14.96 bn. (BSTD)
Hindalco Industries (HNDL IN) has raised USD 1.75 bn from various banks and has
received the financial closure for its Mahan Aluminium project. (BSTD)
The small car under development at Bajaj Auto (BJAUT IN), which is expected to take
on Tata's Nano, will hit the market in 2012. (BSTD)
L&T (LT IN) sold its 50% stake in L&T-CASE Equipments to its joint venture partner
CNH Global NV. (BSTD)
3i India Infrastructure Fund is investing around USD 45 mn for a minority stake in Ind-
Barath Energy (Uktal), a subsidiary of Ind-Barath Power Infra (IBPIL), which is building
a 700 Mw coal-based power plant in Orissa. This is the second deal by 3i this month.
(BSTD)
3i India Infrastructure Fund, part of UK listed 3i group, invests USD 155.55mn in
road, power projects. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
No comments:
Post a Comment