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India Equity Research Reports, IPO and Stock News
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Economy News
4 The Maharashtra government is planning to introduce a scheme similar
to the Technology Upgradation Fund Scheme of the Centre, which will
provide interest subsidy to new textile units in the State. The government
hopes to bring about Rs 400 bn worth of investment in the next 10 years
in the scheme, which will require over Rs 30 bn budgetary support (BS).
4 The Union Commerce Ministry has commenced anti-dumping
investigation into the import of phthalic anhydride (PAN) from South
Korea, Taiwan (Chinese Taipei) and Israel (BL).
4 Foreign direct investment (FDI) in India declined for the third consecutive
month in March, dipping by 11 per cent year-on-year to $1.07 billion in
the backdrop of financial turmoil in Europe (ET).
Corporate News
4 Ranbaxy may have to pay over $1 billion (Rs 45 bn) to the US drug
regulator for lifting the ban on import of medicines produced at two of
its production centers (BS).
4 Bharati Airtel reported a 31% YOY drop in net profit in FY11 to Rs.14 bn
due to low margin Africa operation and 3G payments. Revenue rose by
51% to Rs.163 bn over the same period, with significant contribution
from the nine-month-old African operation (Mint).
4 The board of directors of Jyothy Laboratories Ltd (JLL) has approved
the buy-out of 50.97 % stake in Henkel India Ltd (HIL) from Henkel AG &
Co. KGaA (Henkel AG) (BS).
4 Bharti Group plans to invest about $3 billion for expanding its telecom
operations in FY12 (BL).
4 Cipla reported a 22 % fall in net profit to Rs.2.15 bn in Q4FY11 compared
to Rs.2.75 bn in the same period last year. The one-time exceptional
income (Rs.0.95 bn) in the current quarter and increased factory
overheads at Indore SEZ resulted in decline of net profit (BS).
4 PVR Ltd has entered into an agreement with Infinite India Investment
Management, a part of the JM Financial Group, for sale and leaseback of
its multiplex property in Mumbai for Rs.1.0 bn (BS).
4 Murugappa group plans to make Rs.15 bn of capital expenditure in
FY12, which is more than thrice that in FY11 and five times as much as in
FY10 (BL).
4 Jindal Steel and Power Ltd's plans to build a 2.52 million tonnes a year
natural gas-based steel plant at El-Mutun, Puerto Suarez in Bolivia (BL).
4 The Union government would cancel allocations of five of the eight coal
blocks awarded to NTPC over the past seven years. These five blocks
have combined geological reserves of 3 billion tonnes (BS).
News Round-up
The food price index rose 8.53% and the fuel price index climbed 13.53% in the year
to April 23. (FNLE)
Foreign direct investment in India declined for the third consecutive month in March,
dipping by 11% year-on-year to USD 1.07bn in the backdrop of financial turmoil in
Europe. (ECNT)
New steel policy to answer investment, supply issues. Draft to be ready in 6 months.
Inter-ministerial group to seek industry views. (FNLE)
ONGC's (ONGC IN) USD 2.58 bn public offer is now been scheduled to open on July
5. The government to sell 5% through the follow-on public offer that will open on
July 5 and close on July 8. (FNLE)
SAIL (SAIL IN) FPO may hit the capital market in June this year if the market conditions
are all right. (FNLE)
Rising prices of key commodities like steel & rubber have led to two wheeler cos.
going for price mark-ups. Both TVS Motor (TVSL IN) & Bajaj Auto (BJAUT IN) have
opted for a price hike in the past couple of weeks. (TTOI)
Reliance Industries (RIL IN) plans to invest up to USD 12 bn in the chemicals business
to tap the market for hygiene and healthcare products and will look at developing a
new rubber business. (FNLE)
Cairn Energy will sell a 40 per cent stake in Cairn India (CAIR IN) to Vedanta
Resources following which Cairn will have a 21.7 per cent stake in its Indian
Subsidiary. (THBL)
Cairn Energy to sell only 40% in Indian arm to Vedanta for USD 6.8bn. (ECNT)
Ranbaxy Laboratories (RBXY IN) may have to shell out a fine and payment of over
USD 1 bn for a settlement with the US drug regulator, which could help it resume
selling drugs from its Indian plants in the American market. (FNLE)
Zenotech Labs (ZTL IN) has made a representation to the Company Law Board to buy
back the 67% stake held by Ranbaxy and Daiichi Sankyo at the cost of up to INR 130
per share. (FNLE)
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 The Maharashtra government is planning to introduce a scheme similar
to the Technology Upgradation Fund Scheme of the Centre, which will
provide interest subsidy to new textile units in the State. The government
hopes to bring about Rs 400 bn worth of investment in the next 10 years
in the scheme, which will require over Rs 30 bn budgetary support (BS).
4 The Union Commerce Ministry has commenced anti-dumping
investigation into the import of phthalic anhydride (PAN) from South
Korea, Taiwan (Chinese Taipei) and Israel (BL).
4 Foreign direct investment (FDI) in India declined for the third consecutive
month in March, dipping by 11 per cent year-on-year to $1.07 billion in
the backdrop of financial turmoil in Europe (ET).
Corporate News
4 Ranbaxy may have to pay over $1 billion (Rs 45 bn) to the US drug
regulator for lifting the ban on import of medicines produced at two of
its production centers (BS).
4 Bharati Airtel reported a 31% YOY drop in net profit in FY11 to Rs.14 bn
due to low margin Africa operation and 3G payments. Revenue rose by
51% to Rs.163 bn over the same period, with significant contribution
from the nine-month-old African operation (Mint).
4 The board of directors of Jyothy Laboratories Ltd (JLL) has approved
the buy-out of 50.97 % stake in Henkel India Ltd (HIL) from Henkel AG &
Co. KGaA (Henkel AG) (BS).
4 Bharti Group plans to invest about $3 billion for expanding its telecom
operations in FY12 (BL).
4 Cipla reported a 22 % fall in net profit to Rs.2.15 bn in Q4FY11 compared
to Rs.2.75 bn in the same period last year. The one-time exceptional
income (Rs.0.95 bn) in the current quarter and increased factory
overheads at Indore SEZ resulted in decline of net profit (BS).
4 PVR Ltd has entered into an agreement with Infinite India Investment
Management, a part of the JM Financial Group, for sale and leaseback of
its multiplex property in Mumbai for Rs.1.0 bn (BS).
4 Murugappa group plans to make Rs.15 bn of capital expenditure in
FY12, which is more than thrice that in FY11 and five times as much as in
FY10 (BL).
4 Jindal Steel and Power Ltd's plans to build a 2.52 million tonnes a year
natural gas-based steel plant at El-Mutun, Puerto Suarez in Bolivia (BL).
4 The Union government would cancel allocations of five of the eight coal
blocks awarded to NTPC over the past seven years. These five blocks
have combined geological reserves of 3 billion tonnes (BS).
News Round-up
The food price index rose 8.53% and the fuel price index climbed 13.53% in the year
to April 23. (FNLE)
Foreign direct investment in India declined for the third consecutive month in March,
dipping by 11% year-on-year to USD 1.07bn in the backdrop of financial turmoil in
Europe. (ECNT)
New steel policy to answer investment, supply issues. Draft to be ready in 6 months.
Inter-ministerial group to seek industry views. (FNLE)
ONGC's (ONGC IN) USD 2.58 bn public offer is now been scheduled to open on July
5. The government to sell 5% through the follow-on public offer that will open on
July 5 and close on July 8. (FNLE)
SAIL (SAIL IN) FPO may hit the capital market in June this year if the market conditions
are all right. (FNLE)
Rising prices of key commodities like steel & rubber have led to two wheeler cos.
going for price mark-ups. Both TVS Motor (TVSL IN) & Bajaj Auto (BJAUT IN) have
opted for a price hike in the past couple of weeks. (TTOI)
Reliance Industries (RIL IN) plans to invest up to USD 12 bn in the chemicals business
to tap the market for hygiene and healthcare products and will look at developing a
new rubber business. (FNLE)
Cairn Energy will sell a 40 per cent stake in Cairn India (CAIR IN) to Vedanta
Resources following which Cairn will have a 21.7 per cent stake in its Indian
Subsidiary. (THBL)
Cairn Energy to sell only 40% in Indian arm to Vedanta for USD 6.8bn. (ECNT)
Ranbaxy Laboratories (RBXY IN) may have to shell out a fine and payment of over
USD 1 bn for a settlement with the US drug regulator, which could help it resume
selling drugs from its Indian plants in the American market. (FNLE)
Zenotech Labs (ZTL IN) has made a representation to the Company Law Board to buy
back the 67% stake held by Ranbaxy and Daiichi Sankyo at the cost of up to INR 130
per share. (FNLE)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
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