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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Exporters have raised the voice for re-introduction of interest rate
discount scheme following the recent hike in key lending rates by the
Reserve Bank of India (ET).
4 The Centre is considering allowing 51% FDI in the politically sensitive
retail sector with a rider that permission of the states would be a must to
open stores (ET).
4 The new GDP base will be revised to 2011-12 from the current base year
of 2004-05 to give a more accurate reading of the economy’s structure
(ET).
Corporate News
4 The Cabinet has approved the merger of ONGC’s Russian assets with
Sistema-promoted Bashneft and RussNeft in a deal that will give the
Indian company access to Trebs & Titov oilfields (ET).
4 Bajaj Auto plans to launch three more dealerships in Gujarat. The
company has opened its 39th dealership in the state at Ahmedabad. At
present, Bajaj Auto's market share in Ahmedabad is at 35% and with the
addition of this dealership it hopes to reach 40% (BS).
4 Shriram Transport will offer 11.35% on non-convertible debentures,
almost the rate it paid after the credit crisis and the highest so far this
financial year by a company with AA+ rating (ET).
4 The Apollo Hospitals group will open two hospitals by this year end,
taking the total number to 56. Group now has 54 hospitals with a bedstrength of over 9,000 (BS).
4 After cancelling five National Thermal Power Corporation (NTPC) coal
blocks last week, the coal ministry is likely to warn the power company
that two more of its fields would be deallocated, if it does not develop
them immediately (BS).
4 Bank of India is in talks with Bharti Axa and two asset management
companies for an entry into mutual fund business (BL).
4 Kirloskar Brothers Limited (KBL) has opened a new plant at
Coimbatore for manufacturing small pumps. The plant has an installed
capacity of 250,000 units of different models of domestic pumps in the
first phase and 500,000 units in the second phase (BS).
4 Lanco may go slow on expansion of its gas-based power plant in Andhra
Pradesh as shortage of domestic gas supply to the plant has led to a drop
in its capacity utilization (BS).
4 The Finance Ministry is likely to initiate discussions with the Railway
Ministry for divesting stakes in Container Corporation of India
(Concor) and Indian Railway Construction Corporation (Ircon) (ET).
News Round-up
` The oil ministry has pulled up GAIL (GAIL IN) and oil marketing companies for bidding
for capital intensive gas pipeline projects at a time when gas availability is uncertain.
(BSTD)
` Actis to sell stake in Sterling Hospitals. (BSTD)
` Tata Motors (TTMT IN) was eliciting a favourable response for its CNG-electric hybrid
buses and had received orders from overseas markets.(BSTD)
` PSL's (PSLL IN) plan to develop a SEZ in Gujarat was likely to get delayed due to
imposition of minimum alternate tax on SEZs in the Budget. (BSTD)
` IL&FS is arranging USD 1.2 bn for a Malaysian free trade zone project called the
Tanjong Agas Supply and Marines Services near Kuala Lumpur. IL&FS will be involved
in project development as well. (BSTD)
` After cancelling five NTPC coal blocks last week, the coal ministry is likely to warn the
power company that two more of its fields would be deallocated, if it does not
develop them immediately. (BSTD)
` FDI in multi-brand retail gets key minister's push. Committee of secretaries to take up
note prepared by Commerce Ministry soon. While all key ministries are on board, the
ministry of finance has opined that its comments would be warranted just before
placing the draft policy for consideration of Committee on economic Affairs (CCEA).
(BSTD-Sat)
` Lanco (LANCI IN) may go slow on expansion of its gas-based plant in Andhra. (BSTDSat)
` Sebi asks promoters of all listed firms to dematerialise holding. Promoters of nearly
50% listed companies still hold shares in physical form. Of these, promoters of
around 650 companies hold their entire stake in physical form. (BSTD-Sat)
` Mahindra Finance (MMFS IN) to raise USD 111 mn through NCDs. (FNLE-Sat)
` Reliance Industries (RIL IN) hired 18 banks for a five-year term loan of USD 1.09 bn to
be used for refinancing debt. (FNLE-Sat)
` Reliance Industries Ltd (RIL IN) has submitted a three-well drilling programme in D6
block on the East Coast. (THBL SUN)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Exporters have raised the voice for re-introduction of interest rate
discount scheme following the recent hike in key lending rates by the
Reserve Bank of India (ET).
4 The Centre is considering allowing 51% FDI in the politically sensitive
retail sector with a rider that permission of the states would be a must to
open stores (ET).
4 The new GDP base will be revised to 2011-12 from the current base year
of 2004-05 to give a more accurate reading of the economy’s structure
(ET).
Corporate News
4 The Cabinet has approved the merger of ONGC’s Russian assets with
Sistema-promoted Bashneft and RussNeft in a deal that will give the
Indian company access to Trebs & Titov oilfields (ET).
4 Bajaj Auto plans to launch three more dealerships in Gujarat. The
company has opened its 39th dealership in the state at Ahmedabad. At
present, Bajaj Auto's market share in Ahmedabad is at 35% and with the
addition of this dealership it hopes to reach 40% (BS).
4 Shriram Transport will offer 11.35% on non-convertible debentures,
almost the rate it paid after the credit crisis and the highest so far this
financial year by a company with AA+ rating (ET).
4 The Apollo Hospitals group will open two hospitals by this year end,
taking the total number to 56. Group now has 54 hospitals with a bedstrength of over 9,000 (BS).
4 After cancelling five National Thermal Power Corporation (NTPC) coal
blocks last week, the coal ministry is likely to warn the power company
that two more of its fields would be deallocated, if it does not develop
them immediately (BS).
4 Bank of India is in talks with Bharti Axa and two asset management
companies for an entry into mutual fund business (BL).
4 Kirloskar Brothers Limited (KBL) has opened a new plant at
Coimbatore for manufacturing small pumps. The plant has an installed
capacity of 250,000 units of different models of domestic pumps in the
first phase and 500,000 units in the second phase (BS).
4 Lanco may go slow on expansion of its gas-based power plant in Andhra
Pradesh as shortage of domestic gas supply to the plant has led to a drop
in its capacity utilization (BS).
4 The Finance Ministry is likely to initiate discussions with the Railway
Ministry for divesting stakes in Container Corporation of India
(Concor) and Indian Railway Construction Corporation (Ircon) (ET).
News Round-up
` The oil ministry has pulled up GAIL (GAIL IN) and oil marketing companies for bidding
for capital intensive gas pipeline projects at a time when gas availability is uncertain.
(BSTD)
` Actis to sell stake in Sterling Hospitals. (BSTD)
` Tata Motors (TTMT IN) was eliciting a favourable response for its CNG-electric hybrid
buses and had received orders from overseas markets.(BSTD)
` PSL's (PSLL IN) plan to develop a SEZ in Gujarat was likely to get delayed due to
imposition of minimum alternate tax on SEZs in the Budget. (BSTD)
` IL&FS is arranging USD 1.2 bn for a Malaysian free trade zone project called the
Tanjong Agas Supply and Marines Services near Kuala Lumpur. IL&FS will be involved
in project development as well. (BSTD)
` After cancelling five NTPC coal blocks last week, the coal ministry is likely to warn the
power company that two more of its fields would be deallocated, if it does not
develop them immediately. (BSTD)
` FDI in multi-brand retail gets key minister's push. Committee of secretaries to take up
note prepared by Commerce Ministry soon. While all key ministries are on board, the
ministry of finance has opined that its comments would be warranted just before
placing the draft policy for consideration of Committee on economic Affairs (CCEA).
(BSTD-Sat)
` Lanco (LANCI IN) may go slow on expansion of its gas-based plant in Andhra. (BSTDSat)
` Sebi asks promoters of all listed firms to dematerialise holding. Promoters of nearly
50% listed companies still hold shares in physical form. Of these, promoters of
around 650 companies hold their entire stake in physical form. (BSTD-Sat)
` Mahindra Finance (MMFS IN) to raise USD 111 mn through NCDs. (FNLE-Sat)
` Reliance Industries (RIL IN) hired 18 banks for a five-year term loan of USD 1.09 bn to
be used for refinancing debt. (FNLE-Sat)
` Reliance Industries Ltd (RIL IN) has submitted a three-well drilling programme in D6
block on the East Coast. (THBL SUN)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
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