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News Headlines
BSE Sensex dives 4.1 pct; biggest fall in 2 years (Reuters)
The BSE Sensex slumped 4.1 percent on Thursday in its biggest one-day slide in more than two years as investors fled risky assets across global markets on a grim U.S. economic outlook and slowing manufacturing growth in China.
Rupee Plunges Most in 15 Years to 28-month Low (Bloomberg Finance LP)
India’s rupee plunged the most in more than 15 years as investors sold EM assets in favor of the dollar’s relative safety on concern the global economy is weakening.
RBI Currently Not Intervening in Rupee: Mukherjee (Bloomberg Finance LP)
India’s central bank will intervene in the currency market to curb excessive swings in the rupee, though it isn’t doing so at the moment, Finance Minister said.
RBI believed to have sold dollars around 49.15: Traders (ET)
The Reserve Bank of India was suspected to be selling dollars in the forex market on Thursday at around 49.15 rupees to arrest steep losses in the local unit.
Food Inflation Slows to Lowest Level in Seven Weeks (Bloomberg Finance LP)
An index measuring wholesale prices of agricultural products gained 8.84 percent in the week ended Sept. 10 from a year earlier. It rose 9.47 percent the previous week.
India cuts US debt exposure by $4.2 bn in 3 months (ET)
India has lowered its exposure to America's ballooning debt, as its holding of the US Treasury bonds fell by USD 4.2 billion between May and July this year.
Rains pick up in past week, monsoon withdrawal eyed (Reuters)
India's monsoon rains were 29 percent above normal in the week to Sept. 21, strengthening from 1 percent above average in the previous week.
FMC to regulate electronic commodity spot exchanges (BS)
The Union ministry of consumer affairs has told the Forward Markets Commission (FMC) to overview, monitor and regulate electronic commodity spot exchanges.
Dip in coal output to hit capacity utilisation of power projects (BS)
A dip in the coal production by Coal India is all set to bring down the capacity utilisation of power projects across India, said the ministry of power.
India buys palm olein after Indonesia tax change (ET)
India struck deals for 50,000 tonnes of refined, bleached and deodorised (RBD) palm olein from Indonesia in the last week, traders said on Thursday, in an immediate reaction to Jakarta's tax cut on exports of processed oils from September 15.
NMDC agrees to buy stake in Australia's Legacy (Reuters)
National Mineral Development Corp has agreed to acquire a 50 percent stake in Australian iron ore and gold explorer Legacy Iron Ore for almost A$19 mln ($19 mln).
GVK in talks with Indonesia firm to divest coal mines stake (Reuters)
GVK group is in talks with Indonesia's PT Kideco Jaya Agung for divesting part of its stake in the coal mines that it bought last week from Hancock Group for $1.26 billion.
IVRCL bags orders worth Rs 2229 crore (ET)
IVRCL Ltd has bagged orders worth Rs 2,228.94 crore, including a road project that entails widening a stretch of 311 km in Arunachal Pradesh worth Rs 1,486 crore.
ABB wins USD 71 million order from SAIL (ET)
ABB has won a USD 71 million order from Steel Authority of India to supply a sub-station package for its Bhilai Steel Plant in Chhattisgarh.
L&T bags Rs 700 cr order from Omanese gas company (ET)
Larsen & Toubro's hydrocarbon division has bagged a Rs 700 crore contract from Petroleum Development Oman for setting up a greenfield gas treatment plant.
Reliance Industries to review oil strategy, may drill abroad with BP (ET)
Reliance Industries is undertaking a comprehensive review of its oil and gas strategy, which may compel the company to drill abroad in partnership with global major BP instead of bidding for new blocks in the energy-starved country.
Global Stocks Enter Bear Market (Bloomberg Finance LP)
Stocks sank, dragging a gauge of global equities into a bear market, Treasury 10-year yields slid to a record low and the Dollar Index rose to a seven-month high amid concern central banks are running out of tools to prevent a recession.
Home Prices in U.S. Fell 3.3% in July (Bloomberg Finance LP)
U.S. home prices declined in the 12 months through July as concerns that the economy may enter another recession sapped the confidence of would-be buyers.
Greece Speeds Budget Cuts to Ensure Aid (Bloomberg Finance LP)
Greece said it will accelerate budget cuts to keep emergency loans flowing, extending austerity measures that have failed to ease doubts that it can avoid default.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
BSE Sensex dives 4.1 pct; biggest fall in 2 years (Reuters)
The BSE Sensex slumped 4.1 percent on Thursday in its biggest one-day slide in more than two years as investors fled risky assets across global markets on a grim U.S. economic outlook and slowing manufacturing growth in China.
Rupee Plunges Most in 15 Years to 28-month Low (Bloomberg Finance LP)
India’s rupee plunged the most in more than 15 years as investors sold EM assets in favor of the dollar’s relative safety on concern the global economy is weakening.
RBI Currently Not Intervening in Rupee: Mukherjee (Bloomberg Finance LP)
India’s central bank will intervene in the currency market to curb excessive swings in the rupee, though it isn’t doing so at the moment, Finance Minister said.
RBI believed to have sold dollars around 49.15: Traders (ET)
The Reserve Bank of India was suspected to be selling dollars in the forex market on Thursday at around 49.15 rupees to arrest steep losses in the local unit.
Food Inflation Slows to Lowest Level in Seven Weeks (Bloomberg Finance LP)
An index measuring wholesale prices of agricultural products gained 8.84 percent in the week ended Sept. 10 from a year earlier. It rose 9.47 percent the previous week.
India cuts US debt exposure by $4.2 bn in 3 months (ET)
India has lowered its exposure to America's ballooning debt, as its holding of the US Treasury bonds fell by USD 4.2 billion between May and July this year.
Rains pick up in past week, monsoon withdrawal eyed (Reuters)
India's monsoon rains were 29 percent above normal in the week to Sept. 21, strengthening from 1 percent above average in the previous week.
FMC to regulate electronic commodity spot exchanges (BS)
The Union ministry of consumer affairs has told the Forward Markets Commission (FMC) to overview, monitor and regulate electronic commodity spot exchanges.
Dip in coal output to hit capacity utilisation of power projects (BS)
A dip in the coal production by Coal India is all set to bring down the capacity utilisation of power projects across India, said the ministry of power.
India buys palm olein after Indonesia tax change (ET)
India struck deals for 50,000 tonnes of refined, bleached and deodorised (RBD) palm olein from Indonesia in the last week, traders said on Thursday, in an immediate reaction to Jakarta's tax cut on exports of processed oils from September 15.
NMDC agrees to buy stake in Australia's Legacy (Reuters)
National Mineral Development Corp has agreed to acquire a 50 percent stake in Australian iron ore and gold explorer Legacy Iron Ore for almost A$19 mln ($19 mln).
GVK in talks with Indonesia firm to divest coal mines stake (Reuters)
GVK group is in talks with Indonesia's PT Kideco Jaya Agung for divesting part of its stake in the coal mines that it bought last week from Hancock Group for $1.26 billion.
IVRCL bags orders worth Rs 2229 crore (ET)
IVRCL Ltd has bagged orders worth Rs 2,228.94 crore, including a road project that entails widening a stretch of 311 km in Arunachal Pradesh worth Rs 1,486 crore.
ABB wins USD 71 million order from SAIL (ET)
ABB has won a USD 71 million order from Steel Authority of India to supply a sub-station package for its Bhilai Steel Plant in Chhattisgarh.
L&T bags Rs 700 cr order from Omanese gas company (ET)
Larsen & Toubro's hydrocarbon division has bagged a Rs 700 crore contract from Petroleum Development Oman for setting up a greenfield gas treatment plant.
Reliance Industries to review oil strategy, may drill abroad with BP (ET)
Reliance Industries is undertaking a comprehensive review of its oil and gas strategy, which may compel the company to drill abroad in partnership with global major BP instead of bidding for new blocks in the energy-starved country.
Global Stocks Enter Bear Market (Bloomberg Finance LP)
Stocks sank, dragging a gauge of global equities into a bear market, Treasury 10-year yields slid to a record low and the Dollar Index rose to a seven-month high amid concern central banks are running out of tools to prevent a recession.
Home Prices in U.S. Fell 3.3% in July (Bloomberg Finance LP)
U.S. home prices declined in the 12 months through July as concerns that the economy may enter another recession sapped the confidence of would-be buyers.
Greece Speeds Budget Cuts to Ensure Aid (Bloomberg Finance LP)
Greece said it will accelerate budget cuts to keep emergency loans flowing, extending austerity measures that have failed to ease doubts that it can avoid default.
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