02 May 2011

News Round-up 􀁠 Koak Sec :May 9, 2011

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Economy News
4 The labour ministry will prepare a feasibility plan together with the rural
and finance ministries that run the old age pension scheme for the below
poverty line people and the Aam Aadmi Bima Yojana (AABY) targeting
the rural landless (ET).
4 Inflation is expected come down to 7.7% this month on the back of a
good monsoon and an increase in the area under rabi crops (ET).
4 Household saving rate of an average employee in metros has come down
by 45% in last six years due to an exorbitant increase in prices of essential
commodities, fuel and education (ET).

Corporate News
4 Bharti Airtel plans to raise $750 million to $1 billion through a global
bond issue to retire its costly Africa debt and fund expansion there (ET).
4 Dabur India is in talks with Ajanta Pharmaceuticals to buy the latter’s
over-the counter (OTC) energiser brand 30-Plus. The deal is expected to
be closed this week (ET).
4 Tata Motors on Sunday reported a 13% jump in total sales in April to
64,383 units from 57,199 units in the same month last year, riding on
good numbers from its small car Nano (ET).
4 Mr Kamaths appointment as the chairman will provide Infosys the
required strategic focus .Mr Kamath will replace NR Narayana Murthy in
August (ET).
4 Hero Honda Motor Ltd has appointed creative firm Law & Kenneth to
develop communication strategy for launching and establishing its new
brand identity (BS).
4 Corporation Bank has posted a 10.6 % rise in its net profit to Rs.3.4 bn
during the fourth quarter of last financial year (ET).
4 Larsen and Toubro (L&T) lost the contract of building Doon Cyber
Tower (DCT) in IT park here to a start-up company despite securing far
better points in the bidding process (BS).
4 The Directorate General of Hydrocarbons (DGH) may target Reliance
Industries for the fall in production at KG-D 6 gas fields by not allowing
recouping all the investment it has made (ET).
4 In a growing focus on employees in their growth path, industry leaders of
Indian business, such as Reliance Industries, ICICI Bank and Infosys,
have raised by over one-fourth the spending on their staff (ET).


News Round-up
􀁠 RBI may hike policy rates by 25 basis point to tame inflation. (ECNT)
􀁠 Reliance Ind. (RIL IN) faces DGH action over fall in KG-D6 output, regulator's
managing committee to meet today, DGH may seek to stop co. from recovering full
investments. (ECNT)
􀁠 Tata Motors (TTMT IN) is planning to launch a Nano model that will run 40 kilometres
on a litre of diesel, matching the mileage of a typical 180cc motorcycle. It will be the
most fuel-efficient car in India. The launch is expected this financial year. (BSTD-Sat)
􀁠 Opto Circuits (India) (OPTC IN) had bagged a contract to deploy 650 automated
external defibrillators (AEDs), used in treating cardiac diseases in Girona, Spain.
(BSTD-Sat)
􀁠 Hero Honda Motor Ltd (HH IN) has appointed creative firm Law & Kenneth to develop
communication strategy for launching and establishing its new brand identity. (BSTD)
􀁠 Hero Honda (HH IN) to pay Honda USD 557 mn royalty till 2014. (BSTD-Sat)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.

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