12/5/11: Morning News (click on link to read article) IFCI research,

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Morning News (click on link to read article)

Economic Times		Business Standard
Ø  Infosys to expand Executive Council Ø  Bidding process for equipment buy in key sectors to be recast Ø  Godrej brand valued at $2.86-bn: Adi Godrej Ø  Two Adani group companies challenge imposition of MAT on SEZs Ø  Exports will show a drastic fall if DEPB stopped: FIEO Ø  Loans to NBFCs in agriculture space could get priority tag		Ø  Sahara firm gets notice for using third-party account Ø  ICICI Venture to pick up equity in Devyani International Ø  ABB net profit zooms nine-fold Ø  LIC eyes Rs 60,000-cr equity investments in 2011-12 Ø  Sobha Q4 net drops 27.6% Ø  Hindalco gets green nod for Orissa alumina refinery
Business Line Ø  Big-ticket mergers will need competition panel's nod from June 1 Ø  Prudential Q1 sales rises 10% to €888 mn Ø  PFC FPO subscribed 15% on second day Ø  IDBI Bank mulls raising $225 m overseas in FY’12 Ø  Max India to invest Rs 600 cr to open 4 new hospitals		Mint Ø  Rahul Gandhi arrested by UP police Ø  Bhel deal to deepen India’s commercial ties with Iraq Ø  HSBC to cut retail banking to save up to $3.5 bn Ø  UK’s Prudential taps strong US pension demand Ø  Coal India set to finalize 10-year import contract
Financial Express Ø  HDFC Bank to hike rates by 55, 125 bps Ø  SC fury hits Rajnigandha pan masala co Ø  Honda launches 250 cc bike @ Rs 1.46 L Ø  Apollo Tyres Q4 net down 26.9 pct Ø  ArcelorMittal Q1 net income at $1,069 mn Ø  Tata Cap raises $800 mn for equity fund		DNA Ø  Ruia acquires two European firms Ø  Tata Communications to invest Rs1,580 crore in Singapore ops Ø  Max New York to sell 4% stake to Axis Bank Ø  International Paper to raise Andhra Paper capacity 20% Ø  Nine months in hand, Tata Capital mops up 80% of $1 billion funds target Ø  Service tax on infrastructure sector sub-contractors to stay