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News Headlines
Advance tax revenue rise 19 pct in Q1 – papers (Reuters)
India's advance tax revenue registered a growth of 19 percent in the first quarter of
this fiscal year to 312.62 billion rupees ($6.96 billion).
India Signals Slower Pace of Interest-Rate Rises on Global Economic Risks
(Bloomberg Finance LP)
Central bank signaled it may slow the most aggressive monetary tightening among
Asia’s major economies as risks to global growth threaten to undermine consumer
demand.
New takeover rules likely by end-June – official (Reuters)
The SEBI may finalise takeover rules by end-June, adding the trigger point for making
open offers may be raised to 25 percent from 15 percent currently.
Revenues of Indian biotech sector surge to $4 bn in 2010-11 (ET)
The Indian biotech and lifesciences industry recorded the fastest pace of growth in
the last five years in 2010-11 to touch revenues of USD 4 billion (Rs 18,399.34 crore).
India Inc may settle for 50% less land in West Bengal (ET)
India Inc may have to settle for 50% less land in Mamata Banerjee's West Bengal, if
current indications prove true.
FDI in retail: States to have final say (ET)
The Centre is considering allowing 51% FDI in the politically-sensitive sector with a
rider that permission of the states would be a must to open stores.
FMCG firms cut ad spend to offset high input costs (BS)
FMCG companies are tightening their purse strings by controlling advertising spends
and other marketing expenses to maintain their margins, as high raw material prices
continue to pose serious challenge.
Sugar stock holding limit to be eased (BS)
The food and consumer affairs ministry plans to ease stock holding limit on sugar and
paddy for traders to improve supplies and clear pipelines stocks.
IL&FS to arrange $1.2 bn for Malaysian project (BS)
IL&FS is arranging $1.2 billion for a Malaysian free trade zone project called the
Tanjong Agas Supply and Marines Services near Kuala Lumpur.
Ambani’s Reliance Said to Hire 18 Banks for $1.09 Billion Loan (Bloomberg
Finance LP)
RIL hired 18 banks for a five-year term loan of $1.09 billion to be used for refinancing
debt, according to a person familiar with the matter.
BSE to remove Reliance Comm, Infra from Sensex (Reuters)
The BSE said it had decided to exclude mobile operator Reliance Communications
and power utility Reliance Infrastructure.
Maruti ends 13-day strike, output loss $93.5 mln (Reuters)
Maruti Suzuki ended a 13-day strike by employees that had crippled production and
led to more than $90 million in lost output for India's largest car maker.
IDBI ups education loan rates, term deposits (ET)
IDBI Bank today hiked interest rates for select category of educational loans and also
retail term deposit rates by upto 50 basis points but left the base rate unchanged.
Nalco cuts product prices by Rs 5,000 per tonne (ET)
National Aluminium Company, the Navratna PSU, has reduced basic price across all
its product segments by Rs 5,000 per tonne
Europe May Withhold Half of Greek Payment (Bloomberg Finance LP)
European governments weighed withholding half of Greece’s next 12 billion-euro
($17.2 billion) aid payment, seeking to keep the country solvent while maintaining
pressure on the government to slash the debt that pitched the euro area into crisis.
Trichet warns of widening global imbalances (Reuters)
European Central Bank President raised concern about widening global imbalances
after the financial crisis, calling them one of the main challenges for the global econ.
Consumer Sentiment in U.S. Declines More Than Forecast (Bloomberg Finance
LP)
Confidence among U.S. consumers dropped more than forecast in June as
households contended with higher prices that are eating into incomes amid slowing
job growth.
IMF Cuts Forecast for U.S. Growth Again Amid Risk of Contagion From Europe
(Bloomberg Finance LP)
IMF cut its forecast for U.S. growth in 2011 for the second time in two months,
warning that further setbacks to a recovery pose growing threats to the world
economy, along with potential contagion from the European debt crisis.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Advance tax revenue rise 19 pct in Q1 – papers (Reuters)
India's advance tax revenue registered a growth of 19 percent in the first quarter of
this fiscal year to 312.62 billion rupees ($6.96 billion).
India Signals Slower Pace of Interest-Rate Rises on Global Economic Risks
(Bloomberg Finance LP)
Central bank signaled it may slow the most aggressive monetary tightening among
Asia’s major economies as risks to global growth threaten to undermine consumer
demand.
New takeover rules likely by end-June – official (Reuters)
The SEBI may finalise takeover rules by end-June, adding the trigger point for making
open offers may be raised to 25 percent from 15 percent currently.
Revenues of Indian biotech sector surge to $4 bn in 2010-11 (ET)
The Indian biotech and lifesciences industry recorded the fastest pace of growth in
the last five years in 2010-11 to touch revenues of USD 4 billion (Rs 18,399.34 crore).
India Inc may settle for 50% less land in West Bengal (ET)
India Inc may have to settle for 50% less land in Mamata Banerjee's West Bengal, if
current indications prove true.
FDI in retail: States to have final say (ET)
The Centre is considering allowing 51% FDI in the politically-sensitive sector with a
rider that permission of the states would be a must to open stores.
FMCG firms cut ad spend to offset high input costs (BS)
FMCG companies are tightening their purse strings by controlling advertising spends
and other marketing expenses to maintain their margins, as high raw material prices
continue to pose serious challenge.
Sugar stock holding limit to be eased (BS)
The food and consumer affairs ministry plans to ease stock holding limit on sugar and
paddy for traders to improve supplies and clear pipelines stocks.
IL&FS to arrange $1.2 bn for Malaysian project (BS)
IL&FS is arranging $1.2 billion for a Malaysian free trade zone project called the
Tanjong Agas Supply and Marines Services near Kuala Lumpur.
Ambani’s Reliance Said to Hire 18 Banks for $1.09 Billion Loan (Bloomberg
Finance LP)
RIL hired 18 banks for a five-year term loan of $1.09 billion to be used for refinancing
debt, according to a person familiar with the matter.
BSE to remove Reliance Comm, Infra from Sensex (Reuters)
The BSE said it had decided to exclude mobile operator Reliance Communications
and power utility Reliance Infrastructure.
Maruti ends 13-day strike, output loss $93.5 mln (Reuters)
Maruti Suzuki ended a 13-day strike by employees that had crippled production and
led to more than $90 million in lost output for India's largest car maker.
IDBI ups education loan rates, term deposits (ET)
IDBI Bank today hiked interest rates for select category of educational loans and also
retail term deposit rates by upto 50 basis points but left the base rate unchanged.
Nalco cuts product prices by Rs 5,000 per tonne (ET)
National Aluminium Company, the Navratna PSU, has reduced basic price across all
its product segments by Rs 5,000 per tonne
Europe May Withhold Half of Greek Payment (Bloomberg Finance LP)
European governments weighed withholding half of Greece’s next 12 billion-euro
($17.2 billion) aid payment, seeking to keep the country solvent while maintaining
pressure on the government to slash the debt that pitched the euro area into crisis.
Trichet warns of widening global imbalances (Reuters)
European Central Bank President raised concern about widening global imbalances
after the financial crisis, calling them one of the main challenges for the global econ.
Consumer Sentiment in U.S. Declines More Than Forecast (Bloomberg Finance
LP)
Confidence among U.S. consumers dropped more than forecast in June as
households contended with higher prices that are eating into incomes amid slowing
job growth.
IMF Cuts Forecast for U.S. Growth Again Amid Risk of Contagion From Europe
(Bloomberg Finance LP)
IMF cut its forecast for U.S. growth in 2011 for the second time in two months,
warning that further setbacks to a recovery pose growing threats to the world
economy, along with potential contagion from the European debt crisis.
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