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News Headlines
Deficit Concerns Push Rupee to First Loss in 4Quarters (Bloomberg Finance LP)
India’s decision to scrap import duties on crude oil is stoking concern that the
government will fail to rein in its budget deficit, depressing the rupee and pushing up
yields on government debt.
Mukherjee Maintains Growth Forecast for This Year (Bloomberg Finance LP)
India may achieve its growth target for this year even after the longest string of
monetary tightening in a decade, Finance Minister Pranab Mukherjee said on
Wednesday.
May refinery output rises 4.5 pct y/y – govt (Reuters)
Indian refiners processed 4.5 percent more crude in May from a year ago, the sixth
consecutive monthly rise, but the pace of growth slowed from April, as output at
private refineries dipped.
Govt should be ready to pass on crude price burden: Ahluwalia (Reuters)
The government should be ready to pass on higher global crude oil prices to
domestic consumers, Deputy Chairman of the Planning Commission Montek Singh
Ahluwalia said on Wednesday.
Banks deposits outpace credit so far in FY12: RBI (Reuters)
Indian banks saw a sharp decline in their incremental credit-deposit ratio as of June
17 from the beginning of the current fiscal year in April, as high interest rates and
slowing investments dampened corporates' appetite for loans.
Food ministry gives nod to possible grain exports (Reuters)
Food minister K.V. Thomas gave a nod to possible exports of grains because of
bumper crops and overflowing storage on Wednesday, after government sources
told Reuters there could be one million tonnes of both wheat and rice offered.
India plans mining licence to attract foreign investors (Reuters)
India's draft mining bill will offer a prospecting licence guaranteeing the holder the
right to produce 100 percent of any find, as the country seeks to attract foreign
money and technology to its underperforming mining sector.
NTPC signs PPA with Escoms for windmill (BS)
NTPC Ltd, India’s largest power generating company, has proposed to set up its
second and largest wind power project at Guledagudda in Bagalkot district.
ONGC board set to file prospectus for follow-on issue (BS)
The board of Oil and Natural Gas Corporation (ONGC) is all set to file a red herring
prospectus (RHP) for a proposed Rs 11,500-crore public issue.
SBI eyeing QIP, rights issue unlikely in FY12: Sources (BS)
State Bank of India is considering a qualified institutional placement (QIP) of shares in
FY12, as its proposed rights issue of shares is unlikely to go through this year, a
senior bank official said.
Niko may raise stake in RIL blocks with pre-emptive right (BS)
Canada-based Niko Resources has said it expects to increase its stake by 30 per cent
in each, or all the three oil blocks it has with Reliance Industries Ltd in India.
Canara Bank raises base rate, BPLR (Reuters)
State-run Canara Bank said on Wednesday it has raised base and benchmark prime
lending rates by 25 basis points each to 10.25 percent and 14.5 percent respectively,
effective July 1.
Indian Bank to file draft red-herring prospectus for FPO in a month (BS)
Indian Bank said it would file a draft red herring prospectus (DRHP) for its proposed
follow-on public offer (FPO) in the next 30 days.
Papandreou Seeks to Turn Budget Enforcer (Bloomberg Finance LP)
Greek Prime Minister George Papandreou may struggle to persuade investors he can
implement a $112 billion austerity plan as it reaches a final vote in Parliament in the
teeth of violent street protests.
Japan Industrial Output Rises at Fastest Pace Since 1953 on Quake Rebound
(Bloomberg Finance LP)
Japan’s industrial production rose at the fastest pace in more than 50 years, led by
carmakers as they restored operations at plants after the earthquake and tsunami on
March 11.
Pending Sales of U.S. Existing Homes Rise by 8.2%, Almost Triple Forecasts
(Bloomberg Finance LP)
The number of contracts to buy previously owned U.S. homes rose almost three
times as much as forecast as falling prices made properties more affordable.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Deficit Concerns Push Rupee to First Loss in 4Quarters (Bloomberg Finance LP)
India’s decision to scrap import duties on crude oil is stoking concern that the
government will fail to rein in its budget deficit, depressing the rupee and pushing up
yields on government debt.
Mukherjee Maintains Growth Forecast for This Year (Bloomberg Finance LP)
India may achieve its growth target for this year even after the longest string of
monetary tightening in a decade, Finance Minister Pranab Mukherjee said on
Wednesday.
May refinery output rises 4.5 pct y/y – govt (Reuters)
Indian refiners processed 4.5 percent more crude in May from a year ago, the sixth
consecutive monthly rise, but the pace of growth slowed from April, as output at
private refineries dipped.
Govt should be ready to pass on crude price burden: Ahluwalia (Reuters)
The government should be ready to pass on higher global crude oil prices to
domestic consumers, Deputy Chairman of the Planning Commission Montek Singh
Ahluwalia said on Wednesday.
Banks deposits outpace credit so far in FY12: RBI (Reuters)
Indian banks saw a sharp decline in their incremental credit-deposit ratio as of June
17 from the beginning of the current fiscal year in April, as high interest rates and
slowing investments dampened corporates' appetite for loans.
Food ministry gives nod to possible grain exports (Reuters)
Food minister K.V. Thomas gave a nod to possible exports of grains because of
bumper crops and overflowing storage on Wednesday, after government sources
told Reuters there could be one million tonnes of both wheat and rice offered.
India plans mining licence to attract foreign investors (Reuters)
India's draft mining bill will offer a prospecting licence guaranteeing the holder the
right to produce 100 percent of any find, as the country seeks to attract foreign
money and technology to its underperforming mining sector.
NTPC signs PPA with Escoms for windmill (BS)
NTPC Ltd, India’s largest power generating company, has proposed to set up its
second and largest wind power project at Guledagudda in Bagalkot district.
ONGC board set to file prospectus for follow-on issue (BS)
The board of Oil and Natural Gas Corporation (ONGC) is all set to file a red herring
prospectus (RHP) for a proposed Rs 11,500-crore public issue.
SBI eyeing QIP, rights issue unlikely in FY12: Sources (BS)
State Bank of India is considering a qualified institutional placement (QIP) of shares in
FY12, as its proposed rights issue of shares is unlikely to go through this year, a
senior bank official said.
Niko may raise stake in RIL blocks with pre-emptive right (BS)
Canada-based Niko Resources has said it expects to increase its stake by 30 per cent
in each, or all the three oil blocks it has with Reliance Industries Ltd in India.
Canara Bank raises base rate, BPLR (Reuters)
State-run Canara Bank said on Wednesday it has raised base and benchmark prime
lending rates by 25 basis points each to 10.25 percent and 14.5 percent respectively,
effective July 1.
Indian Bank to file draft red-herring prospectus for FPO in a month (BS)
Indian Bank said it would file a draft red herring prospectus (DRHP) for its proposed
follow-on public offer (FPO) in the next 30 days.
Papandreou Seeks to Turn Budget Enforcer (Bloomberg Finance LP)
Greek Prime Minister George Papandreou may struggle to persuade investors he can
implement a $112 billion austerity plan as it reaches a final vote in Parliament in the
teeth of violent street protests.
Japan Industrial Output Rises at Fastest Pace Since 1953 on Quake Rebound
(Bloomberg Finance LP)
Japan’s industrial production rose at the fastest pace in more than 50 years, led by
carmakers as they restored operations at plants after the earthquake and tsunami on
March 11.
Pending Sales of U.S. Existing Homes Rise by 8.2%, Almost Triple Forecasts
(Bloomberg Finance LP)
The number of contracts to buy previously owned U.S. homes rose almost three
times as much as forecast as falling prices made properties more affordable.
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