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News This Week
Economics
India's exports grew by an impressive 46% to $29 billion in June, 2011,
despite uncertainty in the US and European markets. – Media
After dropping to a 20-month low in the middle of July, food inflation rose to
8.04% for the week ended July 23rd vs. 7.33 % in the previous week. - Media
The Supreme Court today allowed state enterprise NMDC to operate its two
mines for production of iron ore in Karnataka's Bellary district. - Media
Cumulative rainfall was excess/normal in 26 and deficient/ scanty in 10 of 36
meteorological sub-divisions with overall rainfall in country below 6%. - Media
Corporate
Glenmark Pharma has received final approval from the US health regulator
for Verapamil tablets, which are used for treating hypertension. - Media
Godrej Properties has entered into an agreement with Jet Airways to develop
the latter’s property in Bandra-Kurla Complex. - Media
A high-level committee has approved 1,320 acre land for the proposed
thermal power project by JSPL in Jharkhand's Godda district. -Media
Coal India has missed its production target for the April-June quarter of the
current fiscal, achieving an output of just 96.3 million tonnes of coal. – Media
The prized KG-D6 fields of Reliance Industries produced 31% less than
previously projected natural gas output in the April-June quarter. -Media
Car sales in India fell by around 15% in July compared to a growth of 38% in
the same month last year. -Media
NHAI awarded a Rs28.2bn contract in MP to GVK that will fetch it an annual
premium of about Rs1.9bn for 30 years. – Media
Jaiprakash Associates reported an 18% growth in its July cement sales at
14.47 lakh tonne vs. 12.21 lakh tonne in the same month last year. – Media
Mphasis has agreed to buy software developer Wyde Corp. of USA for an
undisclosed sum.– Media
HDFC India’s oldest mortgage raised its retail PLR, the benchmark rate for
its home loans, by 50 bps to 16.50%, effective 1 August. -Media
Wind turbine-maker Suzlon Energy has received board approval to raise
Rs50bn through the issuance of shares or other means.- Media
Bharti's headline 1Q FY12 net profit at Rs12.2bn (-13% QoQ) was below
consensus due to higher taxes in India and forex fluctuations in Africa.-Media
Reliance Infra had a major regulatory victory which includes a) extend
Mumbai power distribution license for 25 years, b) allowed RELI to collect
Rs23.2bn of accumulated recovery of revenue gap for FY09-11 with carrying
cost and c) proposed to levy a cross-subsidy surcharge. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Aug 01 - 05, 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News This Week
Economics
India's exports grew by an impressive 46% to $29 billion in June, 2011,
despite uncertainty in the US and European markets. – Media
After dropping to a 20-month low in the middle of July, food inflation rose to
8.04% for the week ended July 23rd vs. 7.33 % in the previous week. - Media
The Supreme Court today allowed state enterprise NMDC to operate its two
mines for production of iron ore in Karnataka's Bellary district. - Media
Cumulative rainfall was excess/normal in 26 and deficient/ scanty in 10 of 36
meteorological sub-divisions with overall rainfall in country below 6%. - Media
Corporate
Glenmark Pharma has received final approval from the US health regulator
for Verapamil tablets, which are used for treating hypertension. - Media
Godrej Properties has entered into an agreement with Jet Airways to develop
the latter’s property in Bandra-Kurla Complex. - Media
A high-level committee has approved 1,320 acre land for the proposed
thermal power project by JSPL in Jharkhand's Godda district. -Media
Coal India has missed its production target for the April-June quarter of the
current fiscal, achieving an output of just 96.3 million tonnes of coal. – Media
The prized KG-D6 fields of Reliance Industries produced 31% less than
previously projected natural gas output in the April-June quarter. -Media
Car sales in India fell by around 15% in July compared to a growth of 38% in
the same month last year. -Media
NHAI awarded a Rs28.2bn contract in MP to GVK that will fetch it an annual
premium of about Rs1.9bn for 30 years. – Media
Jaiprakash Associates reported an 18% growth in its July cement sales at
14.47 lakh tonne vs. 12.21 lakh tonne in the same month last year. – Media
Mphasis has agreed to buy software developer Wyde Corp. of USA for an
undisclosed sum.– Media
HDFC India’s oldest mortgage raised its retail PLR, the benchmark rate for
its home loans, by 50 bps to 16.50%, effective 1 August. -Media
Wind turbine-maker Suzlon Energy has received board approval to raise
Rs50bn through the issuance of shares or other means.- Media
Bharti's headline 1Q FY12 net profit at Rs12.2bn (-13% QoQ) was below
consensus due to higher taxes in India and forex fluctuations in Africa.-Media
Reliance Infra had a major regulatory victory which includes a) extend
Mumbai power distribution license for 25 years, b) allowed RELI to collect
Rs23.2bn of accumulated recovery of revenue gap for FY09-11 with carrying
cost and c) proposed to levy a cross-subsidy surcharge. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Aug 01 - 05, 2011.
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