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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 International Monetary Fund (IMF) has cautioned emerging market
economies that increased capital inflows could complicate the efforts of a
tight monetary policy. (BS)
4 The government will introduce amendments to the Benami Transactions
(Prohibition) Act, which will give it the power to confiscate any property
that is declared benami. (ET)
Corporate News
4 Infosys Tech is aiming for a larger share of revenues from retail,
banking and healthcare customers by shifting roles of leaders handling
multiple business units. (ET)
4 Reliance Industries has refused to sell natural gas to power and
fertilizer plants by cutting supplies to non-priority sectors like steel and
refineries. (ET)
4 HPCL has installed a new Rs 9 bn processing unit at its Mumbai refinery
to boost refining margins by raising output of high-value products such as
petrol and cooking gas. (ET)
4 In a bid to tap $452 million fexofenadine drug market, Dr Reddy's
Laboratories has announced the launch of generic version of Allegra
fexofenadine HCl tablets in the US market. (ET)
4 The board of Fortis Healthcare took an in principle decision to acquire
86% shares of diagnostic services chain Super Religare Laboratories (SRL)
for an undisclosed sum. (BS)
4 NTPC Ltd has decided to go ahead with Rs 26 bn tender for expansion of
its gas-based Kawas project in Gujarat. Once the tender is finalized, it will
strengthen the corporation's case for getting a gas allocation from the
government. (BS)
4 Ashok Leyland is gearing up to launch its construction vehicles in July or
August this year, and plans to enter the light commercial vehicle segment
jointly with Nissan in the next quarter. It plans to invest Rs 2 bn in product
development this financial year. (BS)
4 Coal India (CIL) plans to invest up to $3 billlion in a coking coal mine, a
steel plant and a sea port on Indonesia's Kalimantan island, Central
Kalimantan Governor, Agustin Teras Narang. (BS)
4 Titan Industries has opened its first Helios outlet in Ahmedabad. It plans
to come up with 100 such outlets across the country within the next three
years. Helios is the company's premium multi-brand watch retail store.
(BS)
News Round-up
�� Government nod for Cairn-Vedanta deal unlikely before May 10. (BSTD-THU)
�� The telecom department will issue showcause notices to mobile co. Loop Telecom
asking why its licences in 21 regions across the country should not be cancelled for
violating rules that govern the sector. (ECNT-Thu)
�� The petroleum ministry has sought security clearance from the home ministry for
allowing UK's BP to buy 30% stake in most of RIL'S (RIL IN) oil & gas blocks, including
the giant KG-D6 well off the east coast. (FNLE)
�� Reliance Industries (RIL IN) has told the government it cannot comply with its latest
directive on prioritising gas supply. The company said it was against cutting supply to
non-priority sectors such as steel, petrochemicals and refineries to expand supplies to
priority sectors such as fertiliser and power. (BSTD-THU)
�� Defying an oil ministry directive, Reliance Ind. (RIL IN) has refused to sell natural gas to
power & fertiliser plants by cutting supplies to non-priority sectors like steel &
refineries, saying the move has financial & legal implications. (ECNT)
�� Reliance Industries had commenced implementation of world-scale polyester projects
in Gujarat, to consolidate its position as the world's largest integrated polyester
producer. (BSTD-THU)
�� HPCL (HPCL IN) has installed a new USD 200mn processing unit at its Mumbai
refinery to boost refining margins by raising output of high value products such as
petrol & cooking gas. (ECNT)
�� Coal India (COAL IN) plans to invest up to USD 3 bn in a coking coal mine, a steel
plant and a seaport on Indonesia's Kalimantan island, Agustin Teras Narang. (BSTD)
�� SingTel has increased its stake in Bharti Airtel (BHARTI IN) to 32.25%, with the
purchase of shares worth USD 21 mn. (BSTD-THU)
�� Tata Steel (TATA IN) is planning to raise around USD 733 mn by issuing corporate
hybrid securities overseas. This is part of mega fund raising plan under which the
company plans to mop up over USD 1.57 bn for expanding steel making capacity,
setting up greenfield facilities and retiring debt. (FNLE)
�� Aiming to optimise resources and give customers a nationwide footprint, the Union
government is considering the merger of BSNL and MTNL (MTNL IN). (BSTD)
�� Reckitt Benckiser has completed the acquisition of Paras Pharmaceuticals after getting
necessary regulatory clearances. The company had, in December last, announced that
it will acquire Paras for USD 741 mn. (BSTD-THU)
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 International Monetary Fund (IMF) has cautioned emerging market
economies that increased capital inflows could complicate the efforts of a
tight monetary policy. (BS)
4 The government will introduce amendments to the Benami Transactions
(Prohibition) Act, which will give it the power to confiscate any property
that is declared benami. (ET)
Corporate News
4 Infosys Tech is aiming for a larger share of revenues from retail,
banking and healthcare customers by shifting roles of leaders handling
multiple business units. (ET)
4 Reliance Industries has refused to sell natural gas to power and
fertilizer plants by cutting supplies to non-priority sectors like steel and
refineries. (ET)
4 HPCL has installed a new Rs 9 bn processing unit at its Mumbai refinery
to boost refining margins by raising output of high-value products such as
petrol and cooking gas. (ET)
4 In a bid to tap $452 million fexofenadine drug market, Dr Reddy's
Laboratories has announced the launch of generic version of Allegra
fexofenadine HCl tablets in the US market. (ET)
4 The board of Fortis Healthcare took an in principle decision to acquire
86% shares of diagnostic services chain Super Religare Laboratories (SRL)
for an undisclosed sum. (BS)
4 NTPC Ltd has decided to go ahead with Rs 26 bn tender for expansion of
its gas-based Kawas project in Gujarat. Once the tender is finalized, it will
strengthen the corporation's case for getting a gas allocation from the
government. (BS)
4 Ashok Leyland is gearing up to launch its construction vehicles in July or
August this year, and plans to enter the light commercial vehicle segment
jointly with Nissan in the next quarter. It plans to invest Rs 2 bn in product
development this financial year. (BS)
4 Coal India (CIL) plans to invest up to $3 billlion in a coking coal mine, a
steel plant and a sea port on Indonesia's Kalimantan island, Central
Kalimantan Governor, Agustin Teras Narang. (BS)
4 Titan Industries has opened its first Helios outlet in Ahmedabad. It plans
to come up with 100 such outlets across the country within the next three
years. Helios is the company's premium multi-brand watch retail store.
(BS)
News Round-up
�� Government nod for Cairn-Vedanta deal unlikely before May 10. (BSTD-THU)
�� The telecom department will issue showcause notices to mobile co. Loop Telecom
asking why its licences in 21 regions across the country should not be cancelled for
violating rules that govern the sector. (ECNT-Thu)
�� The petroleum ministry has sought security clearance from the home ministry for
allowing UK's BP to buy 30% stake in most of RIL'S (RIL IN) oil & gas blocks, including
the giant KG-D6 well off the east coast. (FNLE)
�� Reliance Industries (RIL IN) has told the government it cannot comply with its latest
directive on prioritising gas supply. The company said it was against cutting supply to
non-priority sectors such as steel, petrochemicals and refineries to expand supplies to
priority sectors such as fertiliser and power. (BSTD-THU)
�� Defying an oil ministry directive, Reliance Ind. (RIL IN) has refused to sell natural gas to
power & fertiliser plants by cutting supplies to non-priority sectors like steel &
refineries, saying the move has financial & legal implications. (ECNT)
�� Reliance Industries had commenced implementation of world-scale polyester projects
in Gujarat, to consolidate its position as the world's largest integrated polyester
producer. (BSTD-THU)
�� HPCL (HPCL IN) has installed a new USD 200mn processing unit at its Mumbai
refinery to boost refining margins by raising output of high value products such as
petrol & cooking gas. (ECNT)
�� Coal India (COAL IN) plans to invest up to USD 3 bn in a coking coal mine, a steel
plant and a seaport on Indonesia's Kalimantan island, Agustin Teras Narang. (BSTD)
�� SingTel has increased its stake in Bharti Airtel (BHARTI IN) to 32.25%, with the
purchase of shares worth USD 21 mn. (BSTD-THU)
�� Tata Steel (TATA IN) is planning to raise around USD 733 mn by issuing corporate
hybrid securities overseas. This is part of mega fund raising plan under which the
company plans to mop up over USD 1.57 bn for expanding steel making capacity,
setting up greenfield facilities and retiring debt. (FNLE)
�� Aiming to optimise resources and give customers a nationwide footprint, the Union
government is considering the merger of BSNL and MTNL (MTNL IN). (BSTD)
�� Reckitt Benckiser has completed the acquisition of Paras Pharmaceuticals after getting
necessary regulatory clearances. The company had, in December last, announced that
it will acquire Paras for USD 741 mn. (BSTD-THU)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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