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India Equity Research Reports, IPO and Stock News
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Economy News
4 Production of pulses, prices of which had soared last year due to supply
shortage, are all set to see record growth this year. Wheat and coarse
cereals are also estimated to witness record production, which should
help further ease the food inflation, Agriculture Minister Sharad Pawar
has said. (BS)
4 India's record foodgrains production in 2010-2011 has not only prompted
the agriculture minister to pitch in for opening up exports, but the
government's main advisory body on pricing policy for farm goods, CACP,
has also favoured allowing export of grains to prevent prices from falling
below the minimum support price (MSP). (BS)
4 Apparel exports have increased by 21.58 % to Rs 52.84 bn in February
compared to the corresponding month last year on the strength of
growth in demand in the wake of global economic recovery, an industry
body today said. (BL)
4 Credit offtake from public and private banks grew by over 21.5 per cent
in the one-year period ended March 25, indicating an upswing in the
industrial activity. (BL)
4 The commerce ministry on Wednesday indicated that the DEPB, popular
duty benefit scheme for exporters, is not likely to continue beyond June
30. Indian exporters are demanding for continuation of Duty Entitlement
Pass Book (DEPB) scheme for another five years. (BL)
Corporate News
4 The cabinet referred the $9.6-billion Cairn-Vedanta deal to a panel of
ministers on Wednesday, delivering another blow to the controversial
transaction that has struggled with regulatory approvals for nearly eight
months since it was announced and has an April 15 deadline. (ET)
4 Maruti Suzuki India said it would recall 13,157 diesel cars manufactured
between November 13 and December 4, 2010, to examine a possible
faulty engine part. The recall will include 4,505 units of Swift Dzire, 6,841
units of Swift and 1,811 units of Ritz. It does not include any exported car.
(BS)
4 Kingfisher Airlines has recast 22 % of its Rs 76.51bn debt by giving its
lenders an equity stake in the company. After the recast, the airline's
debt stands at Rs 60.07bn. (BL)
4 Supreme Infrastructure India has bagged four contracts worth Rs 3891
mn. (BL)
News Round-up
A consortium of 13 lenders, including State Bank of India (SBIN IN), ICICI Bank
(ICICIBC IN), IDBI Bank (IDBI IN), Bank of Baroda (BOB IN) and PNB (PNB IN), has taken
a 23.37% stake in Kingfisher Airlines under a debt recast package. (BSTD)
Cairn (CAIR IN) deal set to take longer on group of ministers (GoM) detour, group to
look into royalty & cess, cabinet to consider its proposals thereafter. (ECNT)
Sesa Goa (SESA IN) will come out with open offer by April 11 to acquire up to a 20%
additional stake in Cairn India at INR 355 per share. The company's decision to go
ahead with the open offer is subject to government approval. (FNLE)
The ongoing spat between the telecom department & Idea (IDEA IN) is set to
intensify. Telecom minister Kapil Sibal has accepted the recommendations of
Additional Solicitor General Amarjit Singh Chandhiok to impose a USD 66.67mn
penalty on Idea Cellular, & has cleared his department's move to slap this fine
amount on the co. for holding more than 10% stake in 2 mobile cos. in six regions of
the country, in violation of existing norms. (ECNT)
ONGC (ONGC IN) will be outsourcing gas production activities at some of its
marginally-filled and isolated wells in the Krishna-Godavari Basin to other companies
on a production sharing basis. (BSTD)
M&M (MM IN) is planning to foray into the premium car segment by bringing out a
product from the Ssangyong stable. (BSTD)
M&M (MM IN) to bring acquired Boeing unit to Bangalore. The company hopes this
would boost orders and help improve the quality of aircraft parts it products. (BSTD)
Maruti Suzuki (MSIL IN) announced on Wednesday the recall of 13,157 diesel models
of the Swift (6,841units), the Swift Dzire (4,505) and the Ritz (1811), to inspect and
fix a possible defect in the 'connecting rod bolt' in the engine, which could cause it
to stall. (THBL)
The Asian Development Bank has lowered its growth forecast for India to 8.2% for
the current financial year from the earlier projection of 8.7%. (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 Production of pulses, prices of which had soared last year due to supply
shortage, are all set to see record growth this year. Wheat and coarse
cereals are also estimated to witness record production, which should
help further ease the food inflation, Agriculture Minister Sharad Pawar
has said. (BS)
4 India's record foodgrains production in 2010-2011 has not only prompted
the agriculture minister to pitch in for opening up exports, but the
government's main advisory body on pricing policy for farm goods, CACP,
has also favoured allowing export of grains to prevent prices from falling
below the minimum support price (MSP). (BS)
4 Apparel exports have increased by 21.58 % to Rs 52.84 bn in February
compared to the corresponding month last year on the strength of
growth in demand in the wake of global economic recovery, an industry
body today said. (BL)
4 Credit offtake from public and private banks grew by over 21.5 per cent
in the one-year period ended March 25, indicating an upswing in the
industrial activity. (BL)
4 The commerce ministry on Wednesday indicated that the DEPB, popular
duty benefit scheme for exporters, is not likely to continue beyond June
30. Indian exporters are demanding for continuation of Duty Entitlement
Pass Book (DEPB) scheme for another five years. (BL)
Corporate News
4 The cabinet referred the $9.6-billion Cairn-Vedanta deal to a panel of
ministers on Wednesday, delivering another blow to the controversial
transaction that has struggled with regulatory approvals for nearly eight
months since it was announced and has an April 15 deadline. (ET)
4 Maruti Suzuki India said it would recall 13,157 diesel cars manufactured
between November 13 and December 4, 2010, to examine a possible
faulty engine part. The recall will include 4,505 units of Swift Dzire, 6,841
units of Swift and 1,811 units of Ritz. It does not include any exported car.
(BS)
4 Kingfisher Airlines has recast 22 % of its Rs 76.51bn debt by giving its
lenders an equity stake in the company. After the recast, the airline's
debt stands at Rs 60.07bn. (BL)
4 Supreme Infrastructure India has bagged four contracts worth Rs 3891
mn. (BL)
News Round-up
A consortium of 13 lenders, including State Bank of India (SBIN IN), ICICI Bank
(ICICIBC IN), IDBI Bank (IDBI IN), Bank of Baroda (BOB IN) and PNB (PNB IN), has taken
a 23.37% stake in Kingfisher Airlines under a debt recast package. (BSTD)
Cairn (CAIR IN) deal set to take longer on group of ministers (GoM) detour, group to
look into royalty & cess, cabinet to consider its proposals thereafter. (ECNT)
Sesa Goa (SESA IN) will come out with open offer by April 11 to acquire up to a 20%
additional stake in Cairn India at INR 355 per share. The company's decision to go
ahead with the open offer is subject to government approval. (FNLE)
The ongoing spat between the telecom department & Idea (IDEA IN) is set to
intensify. Telecom minister Kapil Sibal has accepted the recommendations of
Additional Solicitor General Amarjit Singh Chandhiok to impose a USD 66.67mn
penalty on Idea Cellular, & has cleared his department's move to slap this fine
amount on the co. for holding more than 10% stake in 2 mobile cos. in six regions of
the country, in violation of existing norms. (ECNT)
ONGC (ONGC IN) will be outsourcing gas production activities at some of its
marginally-filled and isolated wells in the Krishna-Godavari Basin to other companies
on a production sharing basis. (BSTD)
M&M (MM IN) is planning to foray into the premium car segment by bringing out a
product from the Ssangyong stable. (BSTD)
M&M (MM IN) to bring acquired Boeing unit to Bangalore. The company hopes this
would boost orders and help improve the quality of aircraft parts it products. (BSTD)
Maruti Suzuki (MSIL IN) announced on Wednesday the recall of 13,157 diesel models
of the Swift (6,841units), the Swift Dzire (4,505) and the Ritz (1811), to inspect and
fix a possible defect in the 'connecting rod bolt' in the engine, which could cause it
to stall. (THBL)
The Asian Development Bank has lowered its growth forecast for India to 8.2% for
the current financial year from the earlier projection of 8.7%. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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