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News Headlines
Inflation in India May Quicken on Forecast for Deficient Monsoon Rainfall
(Bloomberg Finance LP)
Monsoon rain in India will be below normal for the second time in three years,
potentially lowering farm output and accelerating inflation.
India FDI inflows likely on recovery path (Reuters)
Foreign direct investment (FDI) inflows into India seem to be entering into a recovery
phase after falling in the previous fiscal ending March 31.
Mukherjee resumes tax treaty talks with Mauritius (Reuters)
Pranab Mukherjee said on Tuesday India has resumed talks with Mauritius on a
double taxation avoidance agreement.
Retail milk prices may stay firm in near term (ET)
Inflation-scarred consumers are unlikely to face a rise in retail milk prices in the next
four-five months with dairies expecting good supplies following the onset of
monsoon across the country.
Acquisitions remain high on FMCG list (BS)
Despite the rising tide of inflation and its impact on demand, fast-moving consumer
goods (FMCG) companies continue to retain their appetite for acquisitions.
Short-tenor corp bonds dominate market (BS)
While corporate bond offerings in the tenors between two and five years have seen a
sharp rise this financial year because of higher interest rates, issuers have not been
keen on locking funds for longer durations for the same reason.
Reliance Comm adds 2.5 mln mobile subscribers in May (Reuters)
Reliance Communications signed up 2.5 million cellular users in May. The company
had a total of 138.7 million mobile subscribers at end-April.
SBI lowers credit growth target to under 19% (BS)
State Bank of India has lowered its credit growth target for the current year to
between 16 and 19 per cent from the earlier 19-22 per cent, on the back of
continuing monetary tightening measures by the Reserve Bank of India.
Tata Autocomp lines up $245 mln IPO (Reuters)
Tata Autocomp Systems plans to raise at least $245 million through an initial share
sale in the next 2-3 weeks.
GAIL India to expand in city gas distribution (BS)
GAIL (India) is looking to expand rapidly in areas of city gas distribution (CGD) and
related pipeline infrastructure through tie-up with various state government entities.
Indian Oil to choose banks for $500 mln bond (Reuters)
Indian Oil Corp is looking to raise at least $500 million through an offshore issue of
10-year bonds to fund its Paradip refinery project, a senior company official said.
Aditya Birla Group closes Columbian Chemicals deal (BS)
The acquisition which catapults the Aditya Birla Group to the world’s top carbon black
producer, was made at Rs 3937 and has been completed subsequent to having
obtained all regulatory approvals.
ONGC: in talks with BG, Eni to sell stake in gas block (Reuters)
Oil and Natural Gas Corp's hunt for foreign expertise to develop its gas-rich block
near the huge D6 producer has dropped to two players – BG Group and Eni.
Oberoi Realty eyes expansion in weak market (Reuters)
Oberoi Realty plans to expand its land holdings in key cities as debt-laden rivals
struggling with rising costs and slowing sales look to cut assets.
IndiGo signs final $15-billion deal Airbus order (ET)
IndiGo is close to signing final agreement with European aircraft manufacturer Airbus
for the purchase of 180 aircraft in a deal valued at $15 billion ( 67,500 crore).
U.K. Budget Deficit Narrows as Revenue Growth From Taxes Outpaces
Spending (Bloomberg Finance LP)
Britain’s budget deficit narrowed to 17.4 billion pounds ($28.2 billion) in May as a
jump in tax receipts outpaced growth in government spending.
Papandreou Wins Confidence Vote, Raising Rescue Chances (Bloomberg
Finance LP)
Greek Prime Minister George Papandreou won a vote of confidence, bolstering his
new government’s chances of pushing through austerity measures to secure further
international financial aid for the country.
Existing-Home Sales in U.S. Fell in May to Six-Month Low, May Be at Bottom
(Bloomberg Finance LP)
Sales of existing U.S. homes decreased in May to the lowest level in six months, a
sign that the housing market is lagging other parts of the economy
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Inflation in India May Quicken on Forecast for Deficient Monsoon Rainfall
(Bloomberg Finance LP)
Monsoon rain in India will be below normal for the second time in three years,
potentially lowering farm output and accelerating inflation.
India FDI inflows likely on recovery path (Reuters)
Foreign direct investment (FDI) inflows into India seem to be entering into a recovery
phase after falling in the previous fiscal ending March 31.
Mukherjee resumes tax treaty talks with Mauritius (Reuters)
Pranab Mukherjee said on Tuesday India has resumed talks with Mauritius on a
double taxation avoidance agreement.
Retail milk prices may stay firm in near term (ET)
Inflation-scarred consumers are unlikely to face a rise in retail milk prices in the next
four-five months with dairies expecting good supplies following the onset of
monsoon across the country.
Acquisitions remain high on FMCG list (BS)
Despite the rising tide of inflation and its impact on demand, fast-moving consumer
goods (FMCG) companies continue to retain their appetite for acquisitions.
Short-tenor corp bonds dominate market (BS)
While corporate bond offerings in the tenors between two and five years have seen a
sharp rise this financial year because of higher interest rates, issuers have not been
keen on locking funds for longer durations for the same reason.
Reliance Comm adds 2.5 mln mobile subscribers in May (Reuters)
Reliance Communications signed up 2.5 million cellular users in May. The company
had a total of 138.7 million mobile subscribers at end-April.
SBI lowers credit growth target to under 19% (BS)
State Bank of India has lowered its credit growth target for the current year to
between 16 and 19 per cent from the earlier 19-22 per cent, on the back of
continuing monetary tightening measures by the Reserve Bank of India.
Tata Autocomp lines up $245 mln IPO (Reuters)
Tata Autocomp Systems plans to raise at least $245 million through an initial share
sale in the next 2-3 weeks.
GAIL India to expand in city gas distribution (BS)
GAIL (India) is looking to expand rapidly in areas of city gas distribution (CGD) and
related pipeline infrastructure through tie-up with various state government entities.
Indian Oil to choose banks for $500 mln bond (Reuters)
Indian Oil Corp is looking to raise at least $500 million through an offshore issue of
10-year bonds to fund its Paradip refinery project, a senior company official said.
Aditya Birla Group closes Columbian Chemicals deal (BS)
The acquisition which catapults the Aditya Birla Group to the world’s top carbon black
producer, was made at Rs 3937 and has been completed subsequent to having
obtained all regulatory approvals.
ONGC: in talks with BG, Eni to sell stake in gas block (Reuters)
Oil and Natural Gas Corp's hunt for foreign expertise to develop its gas-rich block
near the huge D6 producer has dropped to two players – BG Group and Eni.
Oberoi Realty eyes expansion in weak market (Reuters)
Oberoi Realty plans to expand its land holdings in key cities as debt-laden rivals
struggling with rising costs and slowing sales look to cut assets.
IndiGo signs final $15-billion deal Airbus order (ET)
IndiGo is close to signing final agreement with European aircraft manufacturer Airbus
for the purchase of 180 aircraft in a deal valued at $15 billion ( 67,500 crore).
U.K. Budget Deficit Narrows as Revenue Growth From Taxes Outpaces
Spending (Bloomberg Finance LP)
Britain’s budget deficit narrowed to 17.4 billion pounds ($28.2 billion) in May as a
jump in tax receipts outpaced growth in government spending.
Papandreou Wins Confidence Vote, Raising Rescue Chances (Bloomberg
Finance LP)
Greek Prime Minister George Papandreou won a vote of confidence, bolstering his
new government’s chances of pushing through austerity measures to secure further
international financial aid for the country.
Existing-Home Sales in U.S. Fell in May to Six-Month Low, May Be at Bottom
(Bloomberg Finance LP)
Sales of existing U.S. homes decreased in May to the lowest level in six months, a
sign that the housing market is lagging other parts of the economy
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