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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 In an interim order, the Supreme Court directed that Direct-to-Home
(DTH) operators may charge no more than 42% of the rates paid by
cable operators for TV channels. This order stays an earlier quashing by
the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) of a
35% rate cap fixed for DTH operators by the TRAI. (BS)
4 India's GDP is projected to grow at a brisk pace of 8.8% in 2011-12, a
leading economic thinktank said yesterday. The domestic environment is
conducive for growth and private final consumption expenditure is
projected to grow by a healthy 7.5% and gross fixed capital formation by
14.6%, the Centre for Monitoring Indian Economy (CMIE) said in its latest
monthly review of the country's economy. (ET)
4 India is set to step up pressure on Mauritius to review its tax treaty with
the country. The finance ministry has written to MEA for renegotiation of
the tax treaty to ensure exchange of information of banking transactions
and assistance in tax matters. (ET)
4 US rating agency Standard & Poor’s (S&P) on Monday downgraded its
outlook on US sovereign debt from “stable to negative,” citing worries
over budget deficits and debt. S&P had not downgraded the sovereign
debt of the world’s largest economy even at the peak of the financial
crisis in 2008. (BS)
Corporate News
4 Aditya Birla Group has acquired Sweden-based speciality pulp and biorefinery
company Domsjo Fabriker for about Rs.15 bn ($340 million)
through its international subsidiaries Thai Rayon Public Company and Indo
Bharat Rayon (Indonesia) from a consortium of six individual investors.
(BL)
4 Mahindra & Mahindra (M&M) is in talks with Japanese major
Mitsubishi for a global strategic alliance to source farm equipment
products including tractors, as it looks to expand its presence in major
markets across the globe. (ET)
4 Aban Offshore has bagged firm orders worth $ 138 million (Rs 6.2bn)
from ONGC for the deployment of two jack-up rigs for three years period
each. (BL)
4 Hotel Leelaventure Ltd plans to raise Rs 19.5bn as part of its debt
restructuring exercise. This move, it says, will help cut its Rs 38bn debt by
half. (BL)
4 Bharti Airtel is revamping the top deck of its various mobile businesses
across South Asia and Africa to consolidate similar management
functions in different entities under a single leadership, its biggest rejig in
over a year. (ET)
4 German firm Henkel AG will sell its entire stake in Henkel India to
Jyothy Laboratories, manufacturer of Ujala fabric whitener, in a rare
instance of a local firm buying out an international brand in India. (ET)
News Round-up
Open offer trigger for sovereign funds may be raised to 20%. Sebi plans to allow
investment up to this level if India has a Comprehensive Economic Cooperation
Agreements (CECA) with the country in question. The new norm will benefit
Singapore's GIC and Temasek Holdings, besides Malaysia's Khazanah. (BSTD)
The BSE has excluded Indiabulls Real Estate (IBREL IN) from both the BSE 100 & BSE
200 & replaced it with Coal India (COAL IN). The replacement will be with effect from
April 21. (ECNT)
Reliance Ind. (RIL IN) may be looking at making a major foray into homeland security
& aerospace sectors. (TTOI)
HDFC BANK (HDFCB IN) plans stock split in 1:5 ratio. (THBL)
Jyothy Lab. (JYL IN) will buy Henkel India (HNKL IN). German firm Henkel's board last
week okayed the sale of its 50.97% stake in its Indian arm to Jyothy. (ECNT)
M&M (MM IN) is in talks with Mitsubishi for a global strategic alliance to source farm
equipment products, including tractors, as it looks to expand presence in major
global markets. (ECNT)
German tyre maker Continental is acquiring Modi Rubber's (MDR IN) tyre unit, Modi
Tyres Co. (ECNT)
Orchid Chemicals (OCP IN) has reached an out-of-court settlement with Pfizer to sell
a low-cost version of the American firm's patented anti-depressant drug Effexor XR in
the US market this fiscal. (ECNT)
Private equity firm Texas Pacific Group (TPG) is close to a deal to buy as much as
14% stake in the unlisted developer Shriram Properties for USD 102.27mn. (ECNT)
Aditya Birla Group is taking control of a leading Swedish speciality pulp and biorefinery
company, Domsjo Fabriker, for an enterprise value of USD 340 mn. The
group will spend USD 75 mn on capital expenditure, taking the total payout of USD
415 mn. The deal will be routed through two group companies Thai Rayon Public
Company and Indo Bharat Rayon of Indonesia. (BSTD)
IRB Infrastructure (IRB IN) has bagged a USD 818 mn road project in Gujarat under
the National Highway Authority of India's (NHAI) first ultra-mega project in highways.
(BSTD)
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 In an interim order, the Supreme Court directed that Direct-to-Home
(DTH) operators may charge no more than 42% of the rates paid by
cable operators for TV channels. This order stays an earlier quashing by
the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) of a
35% rate cap fixed for DTH operators by the TRAI. (BS)
4 India's GDP is projected to grow at a brisk pace of 8.8% in 2011-12, a
leading economic thinktank said yesterday. The domestic environment is
conducive for growth and private final consumption expenditure is
projected to grow by a healthy 7.5% and gross fixed capital formation by
14.6%, the Centre for Monitoring Indian Economy (CMIE) said in its latest
monthly review of the country's economy. (ET)
4 India is set to step up pressure on Mauritius to review its tax treaty with
the country. The finance ministry has written to MEA for renegotiation of
the tax treaty to ensure exchange of information of banking transactions
and assistance in tax matters. (ET)
4 US rating agency Standard & Poor’s (S&P) on Monday downgraded its
outlook on US sovereign debt from “stable to negative,” citing worries
over budget deficits and debt. S&P had not downgraded the sovereign
debt of the world’s largest economy even at the peak of the financial
crisis in 2008. (BS)
Corporate News
4 Aditya Birla Group has acquired Sweden-based speciality pulp and biorefinery
company Domsjo Fabriker for about Rs.15 bn ($340 million)
through its international subsidiaries Thai Rayon Public Company and Indo
Bharat Rayon (Indonesia) from a consortium of six individual investors.
(BL)
4 Mahindra & Mahindra (M&M) is in talks with Japanese major
Mitsubishi for a global strategic alliance to source farm equipment
products including tractors, as it looks to expand its presence in major
markets across the globe. (ET)
4 Aban Offshore has bagged firm orders worth $ 138 million (Rs 6.2bn)
from ONGC for the deployment of two jack-up rigs for three years period
each. (BL)
4 Hotel Leelaventure Ltd plans to raise Rs 19.5bn as part of its debt
restructuring exercise. This move, it says, will help cut its Rs 38bn debt by
half. (BL)
4 Bharti Airtel is revamping the top deck of its various mobile businesses
across South Asia and Africa to consolidate similar management
functions in different entities under a single leadership, its biggest rejig in
over a year. (ET)
4 German firm Henkel AG will sell its entire stake in Henkel India to
Jyothy Laboratories, manufacturer of Ujala fabric whitener, in a rare
instance of a local firm buying out an international brand in India. (ET)
News Round-up
Open offer trigger for sovereign funds may be raised to 20%. Sebi plans to allow
investment up to this level if India has a Comprehensive Economic Cooperation
Agreements (CECA) with the country in question. The new norm will benefit
Singapore's GIC and Temasek Holdings, besides Malaysia's Khazanah. (BSTD)
The BSE has excluded Indiabulls Real Estate (IBREL IN) from both the BSE 100 & BSE
200 & replaced it with Coal India (COAL IN). The replacement will be with effect from
April 21. (ECNT)
Reliance Ind. (RIL IN) may be looking at making a major foray into homeland security
& aerospace sectors. (TTOI)
HDFC BANK (HDFCB IN) plans stock split in 1:5 ratio. (THBL)
Jyothy Lab. (JYL IN) will buy Henkel India (HNKL IN). German firm Henkel's board last
week okayed the sale of its 50.97% stake in its Indian arm to Jyothy. (ECNT)
M&M (MM IN) is in talks with Mitsubishi for a global strategic alliance to source farm
equipment products, including tractors, as it looks to expand presence in major
global markets. (ECNT)
German tyre maker Continental is acquiring Modi Rubber's (MDR IN) tyre unit, Modi
Tyres Co. (ECNT)
Orchid Chemicals (OCP IN) has reached an out-of-court settlement with Pfizer to sell
a low-cost version of the American firm's patented anti-depressant drug Effexor XR in
the US market this fiscal. (ECNT)
Private equity firm Texas Pacific Group (TPG) is close to a deal to buy as much as
14% stake in the unlisted developer Shriram Properties for USD 102.27mn. (ECNT)
Aditya Birla Group is taking control of a leading Swedish speciality pulp and biorefinery
company, Domsjo Fabriker, for an enterprise value of USD 340 mn. The
group will spend USD 75 mn on capital expenditure, taking the total payout of USD
415 mn. The deal will be routed through two group companies Thai Rayon Public
Company and Indo Bharat Rayon of Indonesia. (BSTD)
IRB Infrastructure (IRB IN) has bagged a USD 818 mn road project in Gujarat under
the National Highway Authority of India's (NHAI) first ultra-mega project in highways.
(BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
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