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Economy News
4 Food inflation went up to 8.76% for the week ended April 16, raising
fears of another hike in the key policy rates by the Reserve Bank in its
annual policy to be announced next week (ET).
4 With India crossing the textiles export target for the last fiscal amid a
demand surge in the US and Europe, the government is now looking at
overseas sales worth $30 billion in 2011-12 (ET)
Corporate News
4 Monnet Ispat plans to raise around Rs13 bn by selling up to 20% stake in
its power arm by June next year. The proceeds would be used to build a
1,320-MW imported coal-fired project in southern India (ET).
4 Raymond India is looking to capture 15 per cent of the Rs 60 bn lower
segment textile market by the end of March 2013 with the launch of
'Makers' its new brand targeting the tier-II and tier-III cities (BS).
4 Biocon Ltd will divest its entire 70 per cent stake in German subsidiary
Axicorp GmbH in its bid to increase the operating margin of the company.
After the Pfizer deal, the company said the relevance of this subsidiary
has changed and it would prefer to exit the company to boost its
operating margin (BS).
4 The ministry of petroleum and natural gas will review the cost
recoverability on the basis of actual use of infrastructure by RIL instead
of the committed works (BS).
4 Piramal Glass's consolidated net profit surged nearly three-fold to Rs
327.1 mn for the fourth quarter ended March 31, over the same period
previous year. The company's net sales rose to Rs 3.2 bn for the fourth
quarter ended March 31, compared to Rs 2.8 bn in the same period last
financial year (BS).
4 JSW Energy is looking to increase its stake in South African Coal Mining
Holding (SACMH) to 75%. Currently, it indirectly holds 59.4 % stake in the
mining company, after it bought into Royal Bafokeng Capital, last year
(ET).
4 The Andhra Pradesh government has rejected Moser Baer India
Limited's request for extension of time to execute its proposed $500-
million photo voltaic cell manufacturing project. The company had sought
two more years to execute the project (BS).
News Round-up
The government is planning to evolve a political consensus on allowing private
sector's entry in coal mining ramp up the flagging domestic production. (BSTD)
Wholesale food price-based inflation inched up to 8.76% for the week ended April
16 from 8.74% a week ago. (BSTD)
RBI makes case to free up savings deposit rate. Fixed rate has impeded policy
transmission : RBI. (FNLE)
Telecom regulator Trai has called for radical changes in mobile sector by proposing
deep cuts in charges paid by operators to each other, a move that could lower tariffs
for consumers but worsen the rancour in a deeply divided industry. (ECNT)
Lupin Ltd (LPC IN) has agreed the investment limit for buying its shares and
convertible debentures by foreign institutional investors / non-resident Indians /
persons of Indian origin under the Portfolio Investment Scheme to 33% from 24%.
(BSTD)
Government to review RIL's (RIL IN) cost on D6 on May 2. The meeting will discuss
the issue of non-drilling of wells according to the field development plan and
restricting the cost recovery of development activities by linking it to the
infrastructure put to use. (BSTD)
Raymond India (RW IN) is looking to capture 15% of the USD 1.35 bn lower segment
textile market by the end of March 2013 with the launch of 'Makers' its new brand
targeting the tier-II and tier-III cities. (BSTD)
Motherson Sumi Systems Ltd (MSS IN) will merge three group firms with itself as it
looks to consolidate its business. (FNLE)
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 Food inflation went up to 8.76% for the week ended April 16, raising
fears of another hike in the key policy rates by the Reserve Bank in its
annual policy to be announced next week (ET).
4 With India crossing the textiles export target for the last fiscal amid a
demand surge in the US and Europe, the government is now looking at
overseas sales worth $30 billion in 2011-12 (ET)
Corporate News
4 Monnet Ispat plans to raise around Rs13 bn by selling up to 20% stake in
its power arm by June next year. The proceeds would be used to build a
1,320-MW imported coal-fired project in southern India (ET).
4 Raymond India is looking to capture 15 per cent of the Rs 60 bn lower
segment textile market by the end of March 2013 with the launch of
'Makers' its new brand targeting the tier-II and tier-III cities (BS).
4 Biocon Ltd will divest its entire 70 per cent stake in German subsidiary
Axicorp GmbH in its bid to increase the operating margin of the company.
After the Pfizer deal, the company said the relevance of this subsidiary
has changed and it would prefer to exit the company to boost its
operating margin (BS).
4 The ministry of petroleum and natural gas will review the cost
recoverability on the basis of actual use of infrastructure by RIL instead
of the committed works (BS).
4 Piramal Glass's consolidated net profit surged nearly three-fold to Rs
327.1 mn for the fourth quarter ended March 31, over the same period
previous year. The company's net sales rose to Rs 3.2 bn for the fourth
quarter ended March 31, compared to Rs 2.8 bn in the same period last
financial year (BS).
4 JSW Energy is looking to increase its stake in South African Coal Mining
Holding (SACMH) to 75%. Currently, it indirectly holds 59.4 % stake in the
mining company, after it bought into Royal Bafokeng Capital, last year
(ET).
4 The Andhra Pradesh government has rejected Moser Baer India
Limited's request for extension of time to execute its proposed $500-
million photo voltaic cell manufacturing project. The company had sought
two more years to execute the project (BS).
News Round-up
The government is planning to evolve a political consensus on allowing private
sector's entry in coal mining ramp up the flagging domestic production. (BSTD)
Wholesale food price-based inflation inched up to 8.76% for the week ended April
16 from 8.74% a week ago. (BSTD)
RBI makes case to free up savings deposit rate. Fixed rate has impeded policy
transmission : RBI. (FNLE)
Telecom regulator Trai has called for radical changes in mobile sector by proposing
deep cuts in charges paid by operators to each other, a move that could lower tariffs
for consumers but worsen the rancour in a deeply divided industry. (ECNT)
Lupin Ltd (LPC IN) has agreed the investment limit for buying its shares and
convertible debentures by foreign institutional investors / non-resident Indians /
persons of Indian origin under the Portfolio Investment Scheme to 33% from 24%.
(BSTD)
Government to review RIL's (RIL IN) cost on D6 on May 2. The meeting will discuss
the issue of non-drilling of wells according to the field development plan and
restricting the cost recovery of development activities by linking it to the
infrastructure put to use. (BSTD)
Raymond India (RW IN) is looking to capture 15% of the USD 1.35 bn lower segment
textile market by the end of March 2013 with the launch of 'Makers' its new brand
targeting the tier-II and tier-III cities. (BSTD)
Motherson Sumi Systems Ltd (MSS IN) will merge three group firms with itself as it
looks to consolidate its business. (FNLE)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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