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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
„Economy / Political News
India's industrial output in April rose 6.3% from a year earlier according to the new
series. April industrial growth came in at 4.4% in the old series - which was below
our 5% and 5.5% consensus expectation.
The govt. has cleared 16 FDI proposals amounting to Rs9.2bn including those of
Star News Broadcasting Ltd and L&T Finance Holdings.
Marking the biggest defence deal between India and the US, govt. gave a green
signal to procurement of 10 C-17 heavy-lift military aircraft at a cost of $4.1bn,
weeks after America lost out in the bid for 126 fighter deal.
Corporate Highlights
Domestic auto sales growth slow: Domestic auto sales grew at its slowest pace
in 20 months in May. Sales rose 10.6% in the past month to 1.37mn units from
1.23mn units a year earlier, according to data issued SIAM.
Stock market overview
Performance: The BSE Sensex was down by 1.2% last week. Trading volumes
were down by 8% and the Advance/Decline ratio was 1.0 at BSE.
Flows: FII bought USD 100mn during the week ended 10th June’11. YTD they
have bought USD 200mn. Domestic MFs on the other hand sold USD 60mn
during the week ended 9th June’11.
Top performers of the week: HDIL, Rel Capital, Rel Communications, Cipla and
Infosys.
Worst performers: Hero Honda, Jaiprakash Associates, JSW Steel, United
Phosphorus and ONGC.
Economic Data Watch
Forex reserves rose by USD 3bn to US$312bn for the week ended 3rd
Jun’11.
News This Week
Economics
„ India's industrial output in April rose 6.3% from a year earlier according to the
new series. April industrial growth came in at 4.4% in the old series - which
was below our 5% and 5.5% consensus expectation. – Media
„ The govt. has cleared 16 FDI proposals amounting to Rs9.2bn including
those of Star News Broadcasting Ltd and L&T Finance Holdings. - Media
Politics
„ Marking the biggest defence deal between India and the US, govt. gave a
green signal to procurement of 10 C-17 heavy-lift military aircraft at a cost of
$4.1bn, weeks after America lost out in the bid for 126 fighter deal. - Media
Corporate
„ Aurobindo Pharma received the final approval from the USFDA to
manufacture and market Ramipril Capsules. –Media
„ Domestic auto sales grew at its slowest pace in 20 months in May. Sales
rose 10.6% in the past month to 1.37mn units from 1.23mn units a year
earlier, according to data issued SIAM. – Media
„ Maruti Suzuki’s production at its Manesar facility continues to be completely
stopped as the workers' strike at the plant entered its 7
th
day. -Media
„ ARSS Infra Project has bagged two orders worth Rs2.1bn from Madya
Pradesh government for reconstruction of roads. -Media
„ Infosys Australia and New Zealand unit has acquired the software solutions
business of New Zealand's Gen-i for an undisclosed sum. - Media
„ Jet Airways and budget carrier GoAir are in line to order $6.5 billion worth of
Airbus aircraft at the forthcoming Paris Air Show. -Media
„ Tata Motors plans to raise up to $500 million overseas through external
commercial borrowings over the next two months. – Media
„ IT firm Glodyne Technoserve announced the acquisition of e-governance
services provider Comat Technologies for an undisclosed amount. –Media
„ Sezal Glass has sold its float glass business along with its Gujarat-based unit
to Saint-Gobain India for a consideration of Rs6.9bn. - Media
„ Tata Motors has bagged an order worth an estimated Rs1.5bn to supply
1,111 medium and heavy trucks to Siddhivinayak Logistics Ltd – Media
„ REC has invited technical bids from domestic and international developers to
award Rs13bn contract for laying transmission system in AP. - Media
„ IVRCL has bagged projects worth Rs9bn to implement several projects in the
water, buildings, power and transportation division in Gujarat, W Bengal,
Tamil Nadu and Dubai. - Media
„ A number of strategic & PE investors including a Tata Tele JV Viom
networks, have expressed their interest for a majority stake in Anil Ambanicontrolled Reliance Communications tower business. -Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated June 6 – 10, 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
„Economy / Political News
India's industrial output in April rose 6.3% from a year earlier according to the new
series. April industrial growth came in at 4.4% in the old series - which was below
our 5% and 5.5% consensus expectation.
The govt. has cleared 16 FDI proposals amounting to Rs9.2bn including those of
Star News Broadcasting Ltd and L&T Finance Holdings.
Marking the biggest defence deal between India and the US, govt. gave a green
signal to procurement of 10 C-17 heavy-lift military aircraft at a cost of $4.1bn,
weeks after America lost out in the bid for 126 fighter deal.
Corporate Highlights
Domestic auto sales growth slow: Domestic auto sales grew at its slowest pace
in 20 months in May. Sales rose 10.6% in the past month to 1.37mn units from
1.23mn units a year earlier, according to data issued SIAM.
Stock market overview
Performance: The BSE Sensex was down by 1.2% last week. Trading volumes
were down by 8% and the Advance/Decline ratio was 1.0 at BSE.
Flows: FII bought USD 100mn during the week ended 10th June’11. YTD they
have bought USD 200mn. Domestic MFs on the other hand sold USD 60mn
during the week ended 9th June’11.
Top performers of the week: HDIL, Rel Capital, Rel Communications, Cipla and
Infosys.
Worst performers: Hero Honda, Jaiprakash Associates, JSW Steel, United
Phosphorus and ONGC.
Economic Data Watch
Forex reserves rose by USD 3bn to US$312bn for the week ended 3rd
Jun’11.
News This Week
Economics
„ India's industrial output in April rose 6.3% from a year earlier according to the
new series. April industrial growth came in at 4.4% in the old series - which
was below our 5% and 5.5% consensus expectation. – Media
„ The govt. has cleared 16 FDI proposals amounting to Rs9.2bn including
those of Star News Broadcasting Ltd and L&T Finance Holdings. - Media
Politics
„ Marking the biggest defence deal between India and the US, govt. gave a
green signal to procurement of 10 C-17 heavy-lift military aircraft at a cost of
$4.1bn, weeks after America lost out in the bid for 126 fighter deal. - Media
Corporate
„ Aurobindo Pharma received the final approval from the USFDA to
manufacture and market Ramipril Capsules. –Media
„ Domestic auto sales grew at its slowest pace in 20 months in May. Sales
rose 10.6% in the past month to 1.37mn units from 1.23mn units a year
earlier, according to data issued SIAM. – Media
„ Maruti Suzuki’s production at its Manesar facility continues to be completely
stopped as the workers' strike at the plant entered its 7
th
day. -Media
„ ARSS Infra Project has bagged two orders worth Rs2.1bn from Madya
Pradesh government for reconstruction of roads. -Media
„ Infosys Australia and New Zealand unit has acquired the software solutions
business of New Zealand's Gen-i for an undisclosed sum. - Media
„ Jet Airways and budget carrier GoAir are in line to order $6.5 billion worth of
Airbus aircraft at the forthcoming Paris Air Show. -Media
„ Tata Motors plans to raise up to $500 million overseas through external
commercial borrowings over the next two months. – Media
„ IT firm Glodyne Technoserve announced the acquisition of e-governance
services provider Comat Technologies for an undisclosed amount. –Media
„ Sezal Glass has sold its float glass business along with its Gujarat-based unit
to Saint-Gobain India for a consideration of Rs6.9bn. - Media
„ Tata Motors has bagged an order worth an estimated Rs1.5bn to supply
1,111 medium and heavy trucks to Siddhivinayak Logistics Ltd – Media
„ REC has invited technical bids from domestic and international developers to
award Rs13bn contract for laying transmission system in AP. - Media
„ IVRCL has bagged projects worth Rs9bn to implement several projects in the
water, buildings, power and transportation division in Gujarat, W Bengal,
Tamil Nadu and Dubai. - Media
„ A number of strategic & PE investors including a Tata Tele JV Viom
networks, have expressed their interest for a majority stake in Anil Ambanicontrolled Reliance Communications tower business. -Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated June 6 – 10, 2011.
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