27 April 2011

Morning meeting notes from CLSA India Wednesday, 27 April 2011

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News headlines: Corporate
􀂉 Sesa Goa plans to set-up two small steel plants in Orissa and
Jharkhand with capacity of 1-1.5mt. (ET)
􀂉 STAR India has raised advertising rates by 20% and Zee and
Colors also plan to raise rates. (BS)
􀂉 Maruti plans to reduce sourcing dependence on Japan and plans
to explore markets like Thailand and Germany. (BS)
􀂉 Infosys’ Aditya Nath Jha, a company veteran heading branding
and corporate marketing, has resigned. (BS)


News headlines: Economic and political
􀂉 Supreme Court has barred Mumbai airport from levying
development fee on passengers. (BS)
􀂉 RBI has levied fines in the range of Rs0.5-0.15m on 19 banks for
mis-selling derivative products. (BS)
􀂉 Diesel prices may be raised by up to Rs 2/ litre next month. (BS)

􀂉 The RBI is likely to notify that the information received through
‘Aaadhar’ would be sufficient to meet banks’ KYC (know your
customer) requirements. (BS)
􀂉 The government has cleared the proposal for a nuclear regulatory
authority in India. (BS)
􀂉 The government has asked public sector banks to increase lending
to the agricultural sector. (BS)
􀂉 Madras high court has agreed to issue notices on a petition by a
group of Special Economic Zone (SEZs) developers against the
Minimum Alternate Tax (MAT) levy introduced in the Union Budget
of FY12. (BS)
􀂉 Rajendra S Pawar (Chairman, NIIT) has been appointed as the
Chairman of industry-body Nasscom. (ET)
News headlines: Corporate
􀂉 CLP Power India Pvt Ltd plans to invest Rs18bn to add around
200-300 MW capacity in renewable energy in FY12. (BS)
􀂉 Honda and Toyota may face delay in the launch of two compact
cars in India due to shortage in component supplies. (BS)



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