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News Headlines
April FDI inflows jump as services, autos shine (Reuters)
FDI inflows bounced back in April, on an investment surge in services, construction
and auto sec., reversing a steep drop recorded in the previous fiscal year.
Direct tax collections crosses Rs one trillion in Q1 (ET)
Belying fears of moderation in economic activities, the direct tax collection grew by
23 per cent to Rs 101,600 crore in the first quarter of current financial year.
Consumer Price Index at 107 points in May (BS)
Consumer prices rose seven per cent in May compared to the average price level of
2010. CPI for May stood at 107 points, compared to the base of 100 in 2010.
Liquidity tightens on advance tax outflows (BS)
Companies withdrawing funds from banks to meet advance tax obligations last week
led to a decline in the liquidity scenario.
Retail inflation up for both farm and rural labourers (BS)
Retail price inflation for agri and rural labourers rose to 9.% in May, from 9.11% the
previous month, mainly because of a rise in the prices of food, fuel and clothing.
DoT panel backs 30% limit on merged entity's market share (BS)
A department of telecommunications (DoT) panel has accepted a majority of the
recommendations of the Telecom Regulatory Authority of India (Trai) on M&A rules.
India Rail Plans 100 Billion-Rupee Bond Sale by September to Fund Upgrades
(Bloomberg Finance LP)
Ministry of Railways will start a 100 billion-rupee ($2.2 billion) domestic sale of taxfree bonds by September to help upgrade and expand Asia’s oldest train network.
Shipment of Electronic goods soared in India in January-March period (ET)
The shipment of LCD, LED and Plasma TV models almost doubled in the Jan-March
period driven by strong demand from cricket world cup , says a research report.
Bharti adds 2.45 mln Indian mobile users in May - industry body (Reuters)
Bharti Airtel, India's top mobile carrier, signed up 2.45 million mobile subscribers in
May, taking its total to 167.1 million, data from an industry body showed on Monday.
ONGC to invest $7.7bn in KG basin (ET)
ONGC plans to invest $7.7bn to develop its gas field in the KG Basin, adjoining
Reliance's prolific D-6 block, and produce up to 30mill. c. meters aday in five years.
ONGC says merger of Russia assets with Bashneft not finalised (Reuters)
ONGC said it was in talks with Russia's Bashneft and RussNeft to merge its Russian
assets, but no approval had been received from the Indian government.
IOC holds back advance tax payment in first quarter (BS)
A delay in revision of product prices and a staggered and ad hoc subsidy mechanism
has prompted Indian Oil Corporation to hold back its advance tax payment for the
ongoing quarter.
Citibank India's net up 66% in FY11 (BS)
Citibank said its stand-alone net profit from India operations for the year ended March
2011 surged 66 per cent to Rs 1,424 crore from Rs 860 crore a year earlier.
Shriram Transport eyes FY12 borrowings of 120 bln rupees (Reuters)
Shriram Transport Finance has set a borrowing target of 120 billion rupees for FY12
and may look at a second retail bond issue before the end of the fiscal year.
Kotak Mahindra plans maiden foreign branch in Singapore (Reuters)
Kotak Mahindra Bank plans to open its maiden overseas branch in Singapore and has
applied for a licence to the Reserve Bank of India (RBI), a senior official said on
Monday, as it looks to tap the overseas banking requirements of Indian firms.
Greek Default Would Spell ‘Havoc’ for European Banks a Year After Bailout
(Bloomberg Finance LP)
A year after European officials bailed out Greece, investors say the region’s banks
haven’t raised sufficient capital or cut loans enough to withstand the contagion that
may follow a default.
Banks Have Record $1.45 Trillion to Buy Bonds on Savings (Bloomberg Finance
LP)
Japan’s biggest bond investors see increasing parallels between the nation’s
government debt market and Treasuries, indicating that historically low yields in the
U.S. have room to fall.
China Home Prices Cool as Government Steps Up Bid to Avoid Property Bubble
(Bloomberg Finance LP)
China’s effort to cool home prices is damping the market for existing homes, with
prices in May falling from the previous month in 23 of 70 cities measured.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
April FDI inflows jump as services, autos shine (Reuters)
FDI inflows bounced back in April, on an investment surge in services, construction
and auto sec., reversing a steep drop recorded in the previous fiscal year.
Direct tax collections crosses Rs one trillion in Q1 (ET)
Belying fears of moderation in economic activities, the direct tax collection grew by
23 per cent to Rs 101,600 crore in the first quarter of current financial year.
Consumer Price Index at 107 points in May (BS)
Consumer prices rose seven per cent in May compared to the average price level of
2010. CPI for May stood at 107 points, compared to the base of 100 in 2010.
Liquidity tightens on advance tax outflows (BS)
Companies withdrawing funds from banks to meet advance tax obligations last week
led to a decline in the liquidity scenario.
Retail inflation up for both farm and rural labourers (BS)
Retail price inflation for agri and rural labourers rose to 9.% in May, from 9.11% the
previous month, mainly because of a rise in the prices of food, fuel and clothing.
DoT panel backs 30% limit on merged entity's market share (BS)
A department of telecommunications (DoT) panel has accepted a majority of the
recommendations of the Telecom Regulatory Authority of India (Trai) on M&A rules.
India Rail Plans 100 Billion-Rupee Bond Sale by September to Fund Upgrades
(Bloomberg Finance LP)
Ministry of Railways will start a 100 billion-rupee ($2.2 billion) domestic sale of taxfree bonds by September to help upgrade and expand Asia’s oldest train network.
Shipment of Electronic goods soared in India in January-March period (ET)
The shipment of LCD, LED and Plasma TV models almost doubled in the Jan-March
period driven by strong demand from cricket world cup , says a research report.
Bharti adds 2.45 mln Indian mobile users in May - industry body (Reuters)
Bharti Airtel, India's top mobile carrier, signed up 2.45 million mobile subscribers in
May, taking its total to 167.1 million, data from an industry body showed on Monday.
ONGC to invest $7.7bn in KG basin (ET)
ONGC plans to invest $7.7bn to develop its gas field in the KG Basin, adjoining
Reliance's prolific D-6 block, and produce up to 30mill. c. meters aday in five years.
ONGC says merger of Russia assets with Bashneft not finalised (Reuters)
ONGC said it was in talks with Russia's Bashneft and RussNeft to merge its Russian
assets, but no approval had been received from the Indian government.
IOC holds back advance tax payment in first quarter (BS)
A delay in revision of product prices and a staggered and ad hoc subsidy mechanism
has prompted Indian Oil Corporation to hold back its advance tax payment for the
ongoing quarter.
Citibank India's net up 66% in FY11 (BS)
Citibank said its stand-alone net profit from India operations for the year ended March
2011 surged 66 per cent to Rs 1,424 crore from Rs 860 crore a year earlier.
Shriram Transport eyes FY12 borrowings of 120 bln rupees (Reuters)
Shriram Transport Finance has set a borrowing target of 120 billion rupees for FY12
and may look at a second retail bond issue before the end of the fiscal year.
Kotak Mahindra plans maiden foreign branch in Singapore (Reuters)
Kotak Mahindra Bank plans to open its maiden overseas branch in Singapore and has
applied for a licence to the Reserve Bank of India (RBI), a senior official said on
Monday, as it looks to tap the overseas banking requirements of Indian firms.
Greek Default Would Spell ‘Havoc’ for European Banks a Year After Bailout
(Bloomberg Finance LP)
A year after European officials bailed out Greece, investors say the region’s banks
haven’t raised sufficient capital or cut loans enough to withstand the contagion that
may follow a default.
Banks Have Record $1.45 Trillion to Buy Bonds on Savings (Bloomberg Finance
LP)
Japan’s biggest bond investors see increasing parallels between the nation’s
government debt market and Treasuries, indicating that historically low yields in the
U.S. have room to fall.
China Home Prices Cool as Government Steps Up Bid to Avoid Property Bubble
(Bloomberg Finance LP)
China’s effort to cool home prices is damping the market for existing homes, with
prices in May falling from the previous month in 23 of 70 cities measured.
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