20 June 2011

notes from CLSA India Monday, 20 June 2011

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News headlines: Corporate
‰ Hero Honda Motors has received shareholders’ approval to
change its name to Hero MotoCorp. (ET)
‰ ONGC has stated that it has 960mt of equivalent oil reserves. (BL)
‰ Sun Pharmaceutical and  Coal India will replace  Reliance
Communication and Reliance Infrastructure  in  Sensex  from
August 8, 2011. (ET)
‰ Zee TV has undertaken for a rebranding exercise, which includes a
new logo and fresh programming on its flagship general
entertainment channel. (ET)
‰ Shriram Transport Finance plans to raise Rs10bn through issue
of debentures at interest rate of ~11.35%. (ET)
‰ NTPC may face cancellation of the  allocation of two more coal
blocks. (BS)

News headlines: Economic and political
‰ During 1QFY12, India’s advance tax payments grew by 77% YoY to
Rs304bn. (ET)
‰ SEBI has asked promoters of listed companies to convert their
entire equity holding in dematerialised form by September 2011.
(ET)
‰ During the week ended June 10, India’s foreign exchange reserves
fell by US$2.4bn to US$311bn. (ET)

‰ During Apr-11, India’s steel consumption grew by 2% YoY to 5mt.
(ET)
‰ Key government departments have reportedly turned in favour of
permitting FDI into multi-brand retail. (BS)
‰ The new GDP base may be revised to FY12 from the current base
year of FY05. (ET)
News headlines: Corporate
‰ Max India plans to buy-out Warburg Pincus’ 16% stake in Max
Healthcare for Rs1.4bn. It also plans to enter into an equity-cumstrategic alliance with a private equity firm-backed global hospital
major (BL & ET)
‰ Promoters of SpiceJet, Kalanithi Maran’s Kal Airways, has pledged
an additional 20.7m shares in the company. (ET)
‰ ICVL, a consortium of five government-owned Indian companies
formed to identify overseas coal assets, plans to buy five assets.
(ET)
‰ The cabinet has approved the merger of ONGC’s Russian assets
with Sistema-promoted Bashneft and RussNeft. (ET)
‰ French retailer  Carrefour is building an IT platform that will
enable offer online shopping. (ET)

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