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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
‰ Indian Oil Corporation has held back its advance tax payments
for 1QFY12 due to a lack of product price increases and low
visibility on subsidy sharing. (BS)
‰ Bharti, Reliance Communication and BSNL reportedly lost over
1% revenue market share each in FY11. (ET)
‰ The Coal Ministry has declined a request from Balco, a Vedanta
Group company, to extend the deadline for start of production at
its 211MT captive coal block Chhattisgarh. (ET)
‰ Indiabulls Real Estate’s Elphinstone project has received a stopwork order from the Maharashtra Pollution Control Board. (ET)
‰ Tata Steel may reduce the number of workers in its Netherlands
plant. (Bloomberg)
‰ The SBI chairman has said that the bank plans to improve the
quality of its assets in the coming quarters. (BS)
News headlines: Economic and political
‰ The India-Mauritius Double Taxation Avoidance Agreement (DTAA)
may be renegotiated but a unilateral change is unlikely. (BS)
‰ FDI flows into India increased 43% YoY in April to US$3.12bn. (BS)
‰ A Department of Telecommunications (DoT) panel has accepted a
majority of TRAI’s recommendations on M&A rules. (BS)
‰ The government may allow FDI in multi-brand retail in only six
cities against the earlier proposal of cities with 1m population. (BS)
‰ Carriage fees paid by television channels to analogue cable
operators have increased by 30% over the past year. (BS)
‰ State-run City and Industrial Development Corporation (Cidco)
plans to issue a request for qualification for the Rs87bn Navi
Mumbai international airport in the middle of next month. (BS)
‰ Indian consumer prices rose 7% YoY in May 2011 with prices rising
9% in rural areas and 5% in urban areas. (BS)
‰ Auto companies are spending more on marketing and giving
innovative discounts to offset pressure from rising ownership costs
on car sales. (BS)
News headlines: Corporate
‰ Bank of India is in talks with Bharti-AXA and two other asset
management companies for an entry into the mutual funds
business. (BS)
‰ Life Insurance Corporation has tied up with Axis Bank to offer
co-branded credit cards to its policy holders and employees. (BS)
‰ Cognizant and Capgemini are among the bidders for talks to buy
Oracle’s India based financial services unit. (ET)
‰ GTL Group shares fell sharply amidst rumours of sale of pledged
shares by lenders. (ET)
‰ Siemens has received a contract worth Rs1.65bn from for setting
up the cargo handling system at Delhi International Airport. (BS)
‰ Mahindra Lifespace Developers has sought shareholder
approval to increase its borrowing limit to Rs15bn. (BS)
‰ Citi India’s FY11 net profit increased 78% YoY to Rs18.6bn. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
‰ Indian Oil Corporation has held back its advance tax payments
for 1QFY12 due to a lack of product price increases and low
visibility on subsidy sharing. (BS)
‰ Bharti, Reliance Communication and BSNL reportedly lost over
1% revenue market share each in FY11. (ET)
‰ The Coal Ministry has declined a request from Balco, a Vedanta
Group company, to extend the deadline for start of production at
its 211MT captive coal block Chhattisgarh. (ET)
‰ Indiabulls Real Estate’s Elphinstone project has received a stopwork order from the Maharashtra Pollution Control Board. (ET)
‰ Tata Steel may reduce the number of workers in its Netherlands
plant. (Bloomberg)
‰ The SBI chairman has said that the bank plans to improve the
quality of its assets in the coming quarters. (BS)
News headlines: Economic and political
‰ The India-Mauritius Double Taxation Avoidance Agreement (DTAA)
may be renegotiated but a unilateral change is unlikely. (BS)
‰ FDI flows into India increased 43% YoY in April to US$3.12bn. (BS)
‰ A Department of Telecommunications (DoT) panel has accepted a
majority of TRAI’s recommendations on M&A rules. (BS)
‰ The government may allow FDI in multi-brand retail in only six
cities against the earlier proposal of cities with 1m population. (BS)
‰ Carriage fees paid by television channels to analogue cable
operators have increased by 30% over the past year. (BS)
‰ State-run City and Industrial Development Corporation (Cidco)
plans to issue a request for qualification for the Rs87bn Navi
Mumbai international airport in the middle of next month. (BS)
‰ Indian consumer prices rose 7% YoY in May 2011 with prices rising
9% in rural areas and 5% in urban areas. (BS)
‰ Auto companies are spending more on marketing and giving
innovative discounts to offset pressure from rising ownership costs
on car sales. (BS)
News headlines: Corporate
‰ Bank of India is in talks with Bharti-AXA and two other asset
management companies for an entry into the mutual funds
business. (BS)
‰ Life Insurance Corporation has tied up with Axis Bank to offer
co-branded credit cards to its policy holders and employees. (BS)
‰ Cognizant and Capgemini are among the bidders for talks to buy
Oracle’s India based financial services unit. (ET)
‰ GTL Group shares fell sharply amidst rumours of sale of pledged
shares by lenders. (ET)
‰ Siemens has received a contract worth Rs1.65bn from for setting
up the cargo handling system at Delhi International Airport. (BS)
‰ Mahindra Lifespace Developers has sought shareholder
approval to increase its borrowing limit to Rs15bn. (BS)
‰ Citi India’s FY11 net profit increased 78% YoY to Rs18.6bn. (ET)
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