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India Equity Research Reports, IPO and Stock News
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Economy News
4 China on Sunday registered its first quarterly trade deficit in seven years,
reflecting the rising prices of imported commodities and highlighting
concerns that China's foundations of growth may be weakening. (WSJ)
4 Veteran activist Anna Hazare ended on Saturday a five-day hunger strike
after the government gave in to his demands for tougher anti-graft
legislation which had drawn the support of thousands. (Reuters)
4 All real estate transactions will have to be reported to the country's antimoney
laundering agency once the government amends a key law that
seeks to curb black-money transactions. The government plans to amend
the Prevention of Money Laundering Act, which will require property
registrars to file data of transactions recorded by them with the Financial
Intelligence Unit, a finance ministry official said. (ET)
Corporate News
4 A Tata company has won the largest-ever defence contract awarded to
an Indian private sector company through a competitive global tender.
On March 16, the Ministry of Defence signed a Rs 1,094-crore contract
with Tata Power’s Strategic Electronics Division (Tata Power SED) for
modernising 30 Indian Air Force (IAF) airbases across the country. Tata
Power SED has 42 months to execute this strategically vital contract. (BS)
4 NTPC said its 2,320-MW Mouda plant near Nagpur would be
commissioned in 2012.The coal-based power project will have two units
of 500 MW in the first stage and two units of 660 MW in the second
stage, the company said. (HBL)
4 ONGC is expected to hit the market with its Rs.120 bn follow-on public
offer in June, a finance ministry official said. (ET)
4 Merck and Co. Inc. is close to signing a strategic marketing partnership
with Sun Pharmaceutical Industries Ltd in the domestic market worth
Rs.600 bn, said two people aware of the development. MSD
Pharmaceuticals Pvt. Ltd, the local arm of the world’s second largest drug
maker, would look at the strong marketing network that Sun has
established in the country. (Mint)
4 According to the Neilsen’s January-February data, HUL’s market share
(volumes) in shampoo segment declined by 1.3 percentage points to
47.3% while P&G gained by 2.4 ppt with a market share of 17.7%. Dabur
on the other hand gained 0.8 ppt capturing 6.7% market share in the
estimated Rs.30 bn Indian shampoo market. (HBL)
4 ITC Ltd is experimenting with new formats to drive growth of its apparel
retail chain Wills Lifestyle. The company is opening up specialty stores
such as ‘menswear only´ and ‘boutique stores´ to offer more premium
range, apart from expanding its retail reach with plans to set up around
25 new stores across India in the next 15 months. (Mint)
4 SpiceJet is considering increasing passenger fares as runaway fuel costs
threaten the carrier's weak margins. The airline is expected to announce
the jump shortly. It will be done in phases to ensure the demand is not
affected, SpiceJet officials said. (ET)
4 Real estate company Parsvnath Developers is looking at raising up to
Rs.20 bn by selling stakes in two group housing projects to private equity
firms. According to sources, the company is in talks with three- four
private equity players to raise funds for its two group housing projects in
north India and may seal the deal next month. (ET)
4 The telecom ministry is likely to cancel the licences of leading mobile
operator Idea Cellular and Spice in five states for failing to roll out
services within the stipulated time. (BS)
News Round-up
The telecom ministry is likely to cancel the licences of mobile operators Idea Cellular
(IDEA IN) & Spice in five states for failing to roll out services within the stipulated
period. (BSTD)
The Tata co. has won the largest ever defence contract awarded to an Indian private
sector through a competitive global tender. Ministry of Defence signed a 243.11mn
contract with Tata Power's (TPWR IN) Strategic Electronics Division (Tata Power SED)
for modernising 30 Indian Air Force air bases across the country. (BSTD)
A new battle is brewing between Reliance Ind. (RIL IN) & NTPC (NATP IN). RIL is
insisting on a more relaxed contract from committing more gas to NTPC. This is
despite a govt. directive asking it to sell 4.46 mscmd gas to NTPC. (BSTD)
The issue of independent directors required on the board of ONGC (ONGC IN) is
likely to be resolved & the govt. plans to offload stake in the company, along with
PFC (POWF IN) & SAIL (SAIL IN) in this quarter itself. (BSTD)
HPCL (HPCL IN) has finally decided to make Prize Petroleum Corp. its 100% subsidiary
& will buy stakes of its partners ICICI (ICICIBC IN) & HDFC Bank (HDFCB IN).
(ECNT-Sat)
M&M (MM IN) has raised prices of its entire range of vehicles by up to INR 15000 due
to higher commodity costs. (ECNT-Sat)
Real estate co. Parsvnath Developers (PARSV IN) is looking at raising up to USD
44.44mn be selling stakes in 2 group housing projects to private equity firms. (BSTD)
NMDC (NMDC IN) would spend up to USD 500mn this financial year to acquire coal
& iron ore assets abroad & is hopeful of finalising the deals by June. (BSTD)
The Miglani family, which jointly owns Uttam Galva Steel (UTTM IN) along with
ArcelorMittal India, has acquired Brahmani Industries, a Greenfield steel plant being
built in Kadapa, Andhra Pradesh, by the controversial Reddy brothers. (ECNT)
SpiceJet (SJET IN) plans to hike fares as fuel cost soars. (ECNT)
Puravankara (PVKP IN) raises USD 33.33mn from Kotak Mahindra Prime Land, a non
banking financial arm of Kotak Mahindra Bank, through a private placement of nonconvertible
debentures. (ECNT)
KEC Intl (KECI IN) has forayed into the water business & secured its first order worth
USD 6.89mn. (BSTD-Sat)
Pramod Goenka, one of the promoters of DB Realty (DBRL IN) has sold 1.5% stake in
the firm in the open market between Feb 17 & March 30, 2011. (ECNT-Sat)
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 China on Sunday registered its first quarterly trade deficit in seven years,
reflecting the rising prices of imported commodities and highlighting
concerns that China's foundations of growth may be weakening. (WSJ)
4 Veteran activist Anna Hazare ended on Saturday a five-day hunger strike
after the government gave in to his demands for tougher anti-graft
legislation which had drawn the support of thousands. (Reuters)
4 All real estate transactions will have to be reported to the country's antimoney
laundering agency once the government amends a key law that
seeks to curb black-money transactions. The government plans to amend
the Prevention of Money Laundering Act, which will require property
registrars to file data of transactions recorded by them with the Financial
Intelligence Unit, a finance ministry official said. (ET)
Corporate News
4 A Tata company has won the largest-ever defence contract awarded to
an Indian private sector company through a competitive global tender.
On March 16, the Ministry of Defence signed a Rs 1,094-crore contract
with Tata Power’s Strategic Electronics Division (Tata Power SED) for
modernising 30 Indian Air Force (IAF) airbases across the country. Tata
Power SED has 42 months to execute this strategically vital contract. (BS)
4 NTPC said its 2,320-MW Mouda plant near Nagpur would be
commissioned in 2012.The coal-based power project will have two units
of 500 MW in the first stage and two units of 660 MW in the second
stage, the company said. (HBL)
4 ONGC is expected to hit the market with its Rs.120 bn follow-on public
offer in June, a finance ministry official said. (ET)
4 Merck and Co. Inc. is close to signing a strategic marketing partnership
with Sun Pharmaceutical Industries Ltd in the domestic market worth
Rs.600 bn, said two people aware of the development. MSD
Pharmaceuticals Pvt. Ltd, the local arm of the world’s second largest drug
maker, would look at the strong marketing network that Sun has
established in the country. (Mint)
4 According to the Neilsen’s January-February data, HUL’s market share
(volumes) in shampoo segment declined by 1.3 percentage points to
47.3% while P&G gained by 2.4 ppt with a market share of 17.7%. Dabur
on the other hand gained 0.8 ppt capturing 6.7% market share in the
estimated Rs.30 bn Indian shampoo market. (HBL)
4 ITC Ltd is experimenting with new formats to drive growth of its apparel
retail chain Wills Lifestyle. The company is opening up specialty stores
such as ‘menswear only´ and ‘boutique stores´ to offer more premium
range, apart from expanding its retail reach with plans to set up around
25 new stores across India in the next 15 months. (Mint)
4 SpiceJet is considering increasing passenger fares as runaway fuel costs
threaten the carrier's weak margins. The airline is expected to announce
the jump shortly. It will be done in phases to ensure the demand is not
affected, SpiceJet officials said. (ET)
4 Real estate company Parsvnath Developers is looking at raising up to
Rs.20 bn by selling stakes in two group housing projects to private equity
firms. According to sources, the company is in talks with three- four
private equity players to raise funds for its two group housing projects in
north India and may seal the deal next month. (ET)
4 The telecom ministry is likely to cancel the licences of leading mobile
operator Idea Cellular and Spice in five states for failing to roll out
services within the stipulated time. (BS)
News Round-up
The telecom ministry is likely to cancel the licences of mobile operators Idea Cellular
(IDEA IN) & Spice in five states for failing to roll out services within the stipulated
period. (BSTD)
The Tata co. has won the largest ever defence contract awarded to an Indian private
sector through a competitive global tender. Ministry of Defence signed a 243.11mn
contract with Tata Power's (TPWR IN) Strategic Electronics Division (Tata Power SED)
for modernising 30 Indian Air Force air bases across the country. (BSTD)
A new battle is brewing between Reliance Ind. (RIL IN) & NTPC (NATP IN). RIL is
insisting on a more relaxed contract from committing more gas to NTPC. This is
despite a govt. directive asking it to sell 4.46 mscmd gas to NTPC. (BSTD)
The issue of independent directors required on the board of ONGC (ONGC IN) is
likely to be resolved & the govt. plans to offload stake in the company, along with
PFC (POWF IN) & SAIL (SAIL IN) in this quarter itself. (BSTD)
HPCL (HPCL IN) has finally decided to make Prize Petroleum Corp. its 100% subsidiary
& will buy stakes of its partners ICICI (ICICIBC IN) & HDFC Bank (HDFCB IN).
(ECNT-Sat)
M&M (MM IN) has raised prices of its entire range of vehicles by up to INR 15000 due
to higher commodity costs. (ECNT-Sat)
Real estate co. Parsvnath Developers (PARSV IN) is looking at raising up to USD
44.44mn be selling stakes in 2 group housing projects to private equity firms. (BSTD)
NMDC (NMDC IN) would spend up to USD 500mn this financial year to acquire coal
& iron ore assets abroad & is hopeful of finalising the deals by June. (BSTD)
The Miglani family, which jointly owns Uttam Galva Steel (UTTM IN) along with
ArcelorMittal India, has acquired Brahmani Industries, a Greenfield steel plant being
built in Kadapa, Andhra Pradesh, by the controversial Reddy brothers. (ECNT)
SpiceJet (SJET IN) plans to hike fares as fuel cost soars. (ECNT)
Puravankara (PVKP IN) raises USD 33.33mn from Kotak Mahindra Prime Land, a non
banking financial arm of Kotak Mahindra Bank, through a private placement of nonconvertible
debentures. (ECNT)
KEC Intl (KECI IN) has forayed into the water business & secured its first order worth
USD 6.89mn. (BSTD-Sat)
Pramod Goenka, one of the promoters of DB Realty (DBRL IN) has sold 1.5% stake in
the firm in the open market between Feb 17 & March 30, 2011. (ECNT-Sat)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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