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India Equity Research Reports, IPO and Stock News
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News headlines: Corporate
‰ The board of ONGC is set to file a red herring prospectus (RHP) for
a proposed US$2.5bn public issue. The government is selling 5%,
through a follow-on public offer. (BS)
‰ Vodafone is in talks with Analjit Singh, other investors to decide
who will pick up 1.5% stake in its Indian venture to avoid breach
of 74% FDI cap in the telecom sector. (BS)
‰ Niko Resources expects to increase its stake by 30% of existing
in each, or all the three oil blocks it has with Reliance Industries.
The company plans to exercise its pre-emptive rights in the blocks,
including the D6 block. (ET)
‰ Indian Bank announced that it would file a DRHP for its proposed
follow-on public offer in the next 30 days. The company expects to
raise c.US$350m through the FPO. (BS)
News headlines: Economic and political
‰ During a media briefing, Prime Minister Manmohan Singh discussed
range of issues including inflation, scams, corruption and his
government’s reform agenda over next 8-9months. (BS)
‰ Prime Minister Manmohan Singh expects inflation to likely come
down to 6.5% by March-end if the international oil prices soften
and commodity prices do not rise further. (BS)
‰ MoEF has cleared coal blocks for Orissa UMPP, NTPC Dulanga
project and Orissa genco project. These five coal blocks pertain to
the planned 4,000MW UMPP in Orissa, 1,600MW project of NTPC
and 1,320MW project of Orissa Power Generation Corporation. (BS)
‰ Supreme Court temporarily stayed the West Bengal government
from returning land to farmers in Singur. (Mint)
‰ Greece Parliament approved five-year austerity plan with 155
votes in favour and 138 votes against. (BS)
‰ Finance Minister Pranab Mukherjee said that the government is
negotiating tax treaty with Mauritius. (BS)
News headlines: Corporate
‰ SBI is reportedly considering a Qualified Institutional Placement
(QIP) in FY12, as its proposed rights issue is unlikely to through
the year. (BS)
‰ Canara Bank has raised base rate, BPLR by 25bps – first bank to
raise lending rates after RBI raised rates on June 16. (BS)
‰ Apollo Global Management has decided to invest up to
US$500mn in the diversified Welspun Group. (BS)
‰ Standard Chartered Private Equity (Mauritius) and Merlion India III
have exited from ABG Shipyard by selling their entire 7.078%
stake in the firm through open market transactions. (BS)
‰ SA Peugeot Citroen has submitted a proposal to the Tamil Nadu
government for setting up an integrated automobile project at an
investment of Rs40bn. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� �
News headlines: Corporate
‰ The board of ONGC is set to file a red herring prospectus (RHP) for
a proposed US$2.5bn public issue. The government is selling 5%,
through a follow-on public offer. (BS)
‰ Vodafone is in talks with Analjit Singh, other investors to decide
who will pick up 1.5% stake in its Indian venture to avoid breach
of 74% FDI cap in the telecom sector. (BS)
‰ Niko Resources expects to increase its stake by 30% of existing
in each, or all the three oil blocks it has with Reliance Industries.
The company plans to exercise its pre-emptive rights in the blocks,
including the D6 block. (ET)
‰ Indian Bank announced that it would file a DRHP for its proposed
follow-on public offer in the next 30 days. The company expects to
raise c.US$350m through the FPO. (BS)
News headlines: Economic and political
‰ During a media briefing, Prime Minister Manmohan Singh discussed
range of issues including inflation, scams, corruption and his
government’s reform agenda over next 8-9months. (BS)
‰ Prime Minister Manmohan Singh expects inflation to likely come
down to 6.5% by March-end if the international oil prices soften
and commodity prices do not rise further. (BS)
‰ MoEF has cleared coal blocks for Orissa UMPP, NTPC Dulanga
project and Orissa genco project. These five coal blocks pertain to
the planned 4,000MW UMPP in Orissa, 1,600MW project of NTPC
and 1,320MW project of Orissa Power Generation Corporation. (BS)
‰ Supreme Court temporarily stayed the West Bengal government
from returning land to farmers in Singur. (Mint)
‰ Greece Parliament approved five-year austerity plan with 155
votes in favour and 138 votes against. (BS)
‰ Finance Minister Pranab Mukherjee said that the government is
negotiating tax treaty with Mauritius. (BS)
News headlines: Corporate
‰ SBI is reportedly considering a Qualified Institutional Placement
(QIP) in FY12, as its proposed rights issue is unlikely to through
the year. (BS)
‰ Canara Bank has raised base rate, BPLR by 25bps – first bank to
raise lending rates after RBI raised rates on June 16. (BS)
‰ Apollo Global Management has decided to invest up to
US$500mn in the diversified Welspun Group. (BS)
‰ Standard Chartered Private Equity (Mauritius) and Merlion India III
have exited from ABG Shipyard by selling their entire 7.078%
stake in the firm through open market transactions. (BS)
‰ SA Peugeot Citroen has submitted a proposal to the Tamil Nadu
government for setting up an integrated automobile project at an
investment of Rs40bn. (ET)
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