IFCI research, News Update, 7 Apr, 2011

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Morning News (click on link to read article)

Economic Times		Business Standard
Ø  High oil prices to slow down India's growth to 8.2%, Asia's to 7.8%: ADB Ø  Liquidity woes end, short-term rates slip 200 bps Ø  Himachal earns over Rs 130 crore from cement firms Ø  Sloka Telecom receives $600,000 investment from KITVEN Ø  Wadias rope in expat CEO to revamp GoAir		Ø  Genpact buys US firm for $550 mn Ø  Job offers see 22% jump at ISB Ø  Elecon bags Rs 176.49 cr order from NMDC Ø  Nabard extended Rs 3,681 cr refinance support in FY11 Ø  Commerzbank joins Intesa in raising $19-bn capital before Basel rules Ø  Bank loans grow 21.4% in 2010-11, deposits rise 15.8%
Business Line Ø  Bank credit offtake up 21.5% Ø  Groundnut oil moves up on higher demand Ø  Wheat procurement dips 52% on lower arrival Ø  BPCL's Bina refinery set for commercial production Ø  Country set to make record 235.88 mt food harvest		Mint Ø  Hazare crusade gains momentum, forces Pawar off anti-graft panel Ø  Sensex declines 0.4% as high crude prices weigh Ø  Indian Hotels to introduce new hotel brand in mid-scale segment Ø  Tata Power-led consortium to set up 236 MW hydro project in Himachal Ø  Marks & Spencer defies UK retail gloom
Financial Express Ø  Maruti Suzuki recalls 13,157 diesel cars Ø  Job offers up 22%: Indian School of Biz Ø  Services PMI dips to 58.8 in March Ø  GCC economy to grow by 5.9% in 2011 Ø  FDI in services sector dips 23% Ø  India's foreign fund inflows at $628 bn		DNA Ø  SEC says Raju & Co generated 6,603 false invoices Ø  Hero steps up on own Nano mobike plan Ø  Rio just 0.61% short of Riversdale reins Ø  Apparel exports up 21.58% in February at Rs5,284 crore Ø  Kingfisher allots 5.7% stake to SBI Ø  SEC slaps $17.5 million in fines on Satyam, PriceWaterhouse