IFCI research, News Update, 15 Apr, 2011

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Morning News (click on link to read article)

Economic Times		Business Standard
Ø  IDBI Home Finance gets MCA nod for merger with parent firm Ø  HUL to fill in white spaces with re-launches, brand extensions Ø  Cement sector to grow in double-digits from next fisc: E&Y Ø  Citi fraudster took exposure of Rs 1.13 lakh cr on Nifty: Sebi Ø  Unitech offered to sell its telecom arm to RIL: Radia tells CBI Ø  Essar seeks RBI nod to sell 11% stake to Vodafone at discount		Ø  BRICS to trade in own currencies Ø  Caparo Energy to raise $150 mn through PE route Ø  Glencore starts $11-billion IPO Ø  Ashok Leyland to invest Rs 200 cr in product development Ø  Syndicate Bank to raise up to $1 billion via MTN Ø  Deora bats for industry, indicates softening of M&A norms
Business Line Ø  Polls over, spot power prices crash in the South Ø  Tyre, tube imports may skid on quality roadblock Ø  Essar Steel commissions compact strip production mill at Hazira Ø  10-12% wage hike likely for India staff, says Steria Ø  CPI (M) hopes to take Bengal again with promise of Rs 2/kg rice, jobs		Mint Ø  500 technical colleges may face closure over violations Ø  Piramal, Sunteck close to purchasing Mafatlal land Ø  Irda cracks down on insurers for non-payment of claims Ø  Coal India to invest $3 bln in Indonesian coal, steel Ø  Tulip CMD says will sell JV stake if Qualcomm exits BWA market
Financial Express Ø  'Nokia Siemens considers JV stake sell' Ø  Ford India hikes Figo's price by 1 pct Ø  Attrition rate up 55% in BPO sector Ø  Jaypee to foray into dairy business Ø  SingTel raises stake in Airtel to 32.25% Ø  Finally, India beats China in growth		DNA Ø  Dettol-maker appoints Indian as its global head Ø  Irda sets Rs50,000 limit on Ulip sales over phone Ø  Fortis to buy 86% in group firm Super Religare Ø  Infosys revenue growth seen at 18-20% in dollar terms Ø  Strides Arcolab gets FDA nod Ø  March average for India crude basket soars past $110