IFCI research, News Update, 20 Apr, 2011

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Morning News (click on link to read article)

Economic Times		Business Standard
Ø  Coca-Cola to take on Rasna at 5 price point Ø  Henkel AG set to sell off stake to Jyothy Ø  Price hikes, volume rise to negate cost pressure in FMCG sector Ø  L&T to seek shareholders' nod to demerge electrical business Ø  Fortis to pay about Rs 930 cr for 86% stake in SRL Ø  Providence Equity Partners invests Rs 260 crore in UFO Moviez		Ø  AI fires one more salvo in fare war Ø  Future Venture mulls IPO route to exit from investee firms Ø  Plan panel targets 9-9.5% economic growth in 2012-17 Ø  Corporate debt issuances dip 50% in fourth quarter Ø  Goldman Sachs 1st-quarter profit falls 21% Ø  Muthoot to raise Rs 900 cr via IPO
Business Line Ø  IRDA relax accounting norms for insurers Ø  Samsung to sell hard disk drive biz to Seagate for $ 1.4 bn Ø  SBI hikes lending rates by 25 bps Ø  Unfazed by low returns, Vodafone to invest $1 b in India Ø  Engg, oil drive 2010-11 exports to record $246 b		Mint Ø  Margin woes persist at Persistent Systems Ø  Goldman profit tops forecasts, shares climb Ø  Novartis sales beat forecasts as Gilenya shines Ø  IDBI Bank Q4 net up 62% at Rs 516 cr Ø  J&J beats forecasts despite recalls
Financial Express Ø  'Sovereign funds to buy 20% in India Inc' Ø  DGH refuses to OK RIL KG-D6 spend Ø  Vedanta buys 11 pct in Cairn India Ø  Exports surge by 37% to $246 bn in FY'11 Ø  High oil prices to boost RIL, ONGC Q4 Ø  CMC Q4 net slips to Rs 43.96 cr Ø  FDI dips about 25% in first 11 months of 2010-2011		DNA Ø  Vesuvius promoter Cookson seeks buys Ø  Cafe Coffee Day, Barista Lavazza raise prices 7-10% Ø  Vedanta tightens grip on Cairn with Petronas help Ø  Crisil expects to grow its SME ratings business ten-fold Ø  Zee Ent beats Street, Goldman upgrades price, margin targets Ø  India's Tata Power hybrid issue upsized to $450 million term sheet Ø  Home registrations surge 24% in March in Mumbai