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News headlines: Corporate
According to media reports, Ranbaxy Laboratories and the US
health regulator are negotiating a settlement to lift a ban on the
sale of the drugs produced at two of the company's plants in India,
which could involve payments and fines exceeding US$1bn. (ET)
Oil and Natural Gas Corporation's follow-on public offer to sell
5% stake is now been scheduled to open on July 5. (BS)
Reliance Industries plans to invest up to US$12bn in the
chemicals business to tap the market for hygiene and healthcare
products and will look at developing a whole new rubber business.
(BS)
News headlines: Economic and political
The Coal Ministry has decided to de-allocate 14 coal blocks and 1
lignite block awarded to public sector companies like NTPC and
DVC, besides 3 private firms, over their failure to develop the same
for captive use. (ET)
The Prime Minister’s Office has asked for a review of Vedanta’s
track record in the mining and power sector before approving its
acquisition of Cairn India. (ET)
News headlines: Corporate
Bharti Airtel reported 4QFY11 net profit of Rs14bn, down 31%
YoY. (ET)
Cipla has reported 4QFY11 net profit of Rs2.1bn, down 22% YoY.
(ET)
JSPL has said it will build a 2.5mtpa natural gas based Direct
Reduction Iron steel plant in Puerto Suarez, Bolivia. (BS)
NHPC plans to generate over 18.6bn units of power in FY12. (BS)
Canara Bank has revised its benchmark prime lending rate
upward by 50 bps. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
According to media reports, Ranbaxy Laboratories and the US
health regulator are negotiating a settlement to lift a ban on the
sale of the drugs produced at two of the company's plants in India,
which could involve payments and fines exceeding US$1bn. (ET)
Oil and Natural Gas Corporation's follow-on public offer to sell
5% stake is now been scheduled to open on July 5. (BS)
Reliance Industries plans to invest up to US$12bn in the
chemicals business to tap the market for hygiene and healthcare
products and will look at developing a whole new rubber business.
(BS)
News headlines: Economic and political
The Coal Ministry has decided to de-allocate 14 coal blocks and 1
lignite block awarded to public sector companies like NTPC and
DVC, besides 3 private firms, over their failure to develop the same
for captive use. (ET)
The Prime Minister’s Office has asked for a review of Vedanta’s
track record in the mining and power sector before approving its
acquisition of Cairn India. (ET)
News headlines: Corporate
Bharti Airtel reported 4QFY11 net profit of Rs14bn, down 31%
YoY. (ET)
Cipla has reported 4QFY11 net profit of Rs2.1bn, down 22% YoY.
(ET)
JSPL has said it will build a 2.5mtpa natural gas based Direct
Reduction Iron steel plant in Puerto Suarez, Bolivia. (BS)
NHPC plans to generate over 18.6bn units of power in FY12. (BS)
Canara Bank has revised its benchmark prime lending rate
upward by 50 bps. (BS)
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