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News Headlines
Sept qtr GDP growth seen not better than June qtr: Ahluwalia (Reuters)
India's September quarter economic growth is not expected to be better than its previous quarterly growth, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Thursday.
India’s Food Inflation Rate Remains More Than 9% for a Fifth Straight Week (Bloomberg Finance LP)
India’s food inflation rate stayed above 9 percent for a fifth straight week, maintaining pressure on the central bank to raise interest rates.
Monsoon rains 39 pct above normal in past week (Reuters)
India's monsoon rains were 39 percent above normal in the week to Sept. 7, strengthening from 18 percent above average in the previous week, two sources at the weather office said on Thursday.
Gross direct tax collection up 26 percent (ET)
Gross direct tax collection increased by 25.89 percent at Rs.154,360 crore during the first five months of 2011-12.
July industrial output growth seen at 6.2 pct (Reuters)
India's industrial output rose 6.2 percent in July from a year earlier, slower than June's 8.8 percent growth, moderated by successive interest rate rises, the median forecast in a Reuters poll showed.
Govt allows unrestricted exports of rice, wheat (Reuters)
India will allow unrestricted exports of two million tonnes each of wheat and common rice, as bulging stocks offer political room for overseas sales which could depress global rice prices but make little dent in wheat supplies.
2G Spectrum Scam: Definition of ‘associate’ depends on context, MCA tells telecom dept (ET)
In a September 1 communication to the telecoms department, the ministry said that the definition of an ‘associate’ varies according to situations.
RBI tells Axis Bank that the proposed acquisition of Enam’s broking & investment banking businesses has to be an all-cash deal (ET)
Axis would now issue shares, acquire the businesses from Enam and “momentarily” hold the assets before transferring them to a subsidiary.
CAG faults Reliance Industries, govt over KG basin (Reuters)
The Comptroller and Auditor General of India (CAG) criticised Reliance Industries and the government over development of the country's key natural gas field in the KG basin and called for revamping profit sharing arrangements from oil and gas blocks.
Reliance Comm wins order worth $303 million (Reuters)
Reliance Communications, India's No 2 mobile phone carrier by subscribers, said on Thursday it received an order worth 14 billion rupees ($303 million) for building and maintaining a data centre for HDFC Bank.
Bharti airtel gets 2G, 3G licences in Rwanda; to invest $100mn in 3yrs (ET)
"We will work with the Government to bring affordable and best in class mobile services in Rwanda," Sunil Mittal, MD, Bharti airtel said.
Andhra Pradesh government seeks to build LNG terminal (ET)
AP govt has requested the Centre to build a LNG terminal to meet natural gas requirements of critical industrial sectors.
SAIL's expansion drive expected to be completed by 2012-2013 (ET)
State-run SAIL's massive expansion drive to increase its steel production capacity to 21.40 million tonnes per annum (MTPA)at an investment of Rs 61,870 crore.
NALCO sells aluminium at nearly $102 premium over LME (ET)
State-run National Aluminium Co. Ltd sold 7,500 tonnes of aluminium ingots at nearly $102 per tonne premium over the average LME cash price.
HDFC doubles issue size to 10 bln rupees (Reuters)
The Housing Development Finance Corp (HDFC) has upsized its issue to 10 billion rupees, double its initial size, as it received strong investor demand.
Trichet Opens Path for Further Steps as Euro Region’s Growth Forecasts Cut (Bloomberg Finance LP)
European Central Bank President Jean-Claude Trichet said threats to the euro region have worsened and inflation risks have eased.
Asian Central Banks Hold Interest Rates Amid Threat of Slowdown in Exports (Bloomberg Finance LP)
Four central banks in Asia held off from raising borrowing costs today even as the region contends with elevated inflation rates, forced into inaction by the threat of a slump in exports as the global outlook dims.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
Sept qtr GDP growth seen not better than June qtr: Ahluwalia (Reuters)
India's September quarter economic growth is not expected to be better than its previous quarterly growth, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Thursday.
India’s Food Inflation Rate Remains More Than 9% for a Fifth Straight Week (Bloomberg Finance LP)
India’s food inflation rate stayed above 9 percent for a fifth straight week, maintaining pressure on the central bank to raise interest rates.
Monsoon rains 39 pct above normal in past week (Reuters)
India's monsoon rains were 39 percent above normal in the week to Sept. 7, strengthening from 18 percent above average in the previous week, two sources at the weather office said on Thursday.
Gross direct tax collection up 26 percent (ET)
Gross direct tax collection increased by 25.89 percent at Rs.154,360 crore during the first five months of 2011-12.
July industrial output growth seen at 6.2 pct (Reuters)
India's industrial output rose 6.2 percent in July from a year earlier, slower than June's 8.8 percent growth, moderated by successive interest rate rises, the median forecast in a Reuters poll showed.
Govt allows unrestricted exports of rice, wheat (Reuters)
India will allow unrestricted exports of two million tonnes each of wheat and common rice, as bulging stocks offer political room for overseas sales which could depress global rice prices but make little dent in wheat supplies.
2G Spectrum Scam: Definition of ‘associate’ depends on context, MCA tells telecom dept (ET)
In a September 1 communication to the telecoms department, the ministry said that the definition of an ‘associate’ varies according to situations.
RBI tells Axis Bank that the proposed acquisition of Enam’s broking & investment banking businesses has to be an all-cash deal (ET)
Axis would now issue shares, acquire the businesses from Enam and “momentarily” hold the assets before transferring them to a subsidiary.
CAG faults Reliance Industries, govt over KG basin (Reuters)
The Comptroller and Auditor General of India (CAG) criticised Reliance Industries and the government over development of the country's key natural gas field in the KG basin and called for revamping profit sharing arrangements from oil and gas blocks.
Reliance Comm wins order worth $303 million (Reuters)
Reliance Communications, India's No 2 mobile phone carrier by subscribers, said on Thursday it received an order worth 14 billion rupees ($303 million) for building and maintaining a data centre for HDFC Bank.
Bharti airtel gets 2G, 3G licences in Rwanda; to invest $100mn in 3yrs (ET)
"We will work with the Government to bring affordable and best in class mobile services in Rwanda," Sunil Mittal, MD, Bharti airtel said.
Andhra Pradesh government seeks to build LNG terminal (ET)
AP govt has requested the Centre to build a LNG terminal to meet natural gas requirements of critical industrial sectors.
SAIL's expansion drive expected to be completed by 2012-2013 (ET)
State-run SAIL's massive expansion drive to increase its steel production capacity to 21.40 million tonnes per annum (MTPA)at an investment of Rs 61,870 crore.
NALCO sells aluminium at nearly $102 premium over LME (ET)
State-run National Aluminium Co. Ltd sold 7,500 tonnes of aluminium ingots at nearly $102 per tonne premium over the average LME cash price.
HDFC doubles issue size to 10 bln rupees (Reuters)
The Housing Development Finance Corp (HDFC) has upsized its issue to 10 billion rupees, double its initial size, as it received strong investor demand.
Trichet Opens Path for Further Steps as Euro Region’s Growth Forecasts Cut (Bloomberg Finance LP)
European Central Bank President Jean-Claude Trichet said threats to the euro region have worsened and inflation risks have eased.
Asian Central Banks Hold Interest Rates Amid Threat of Slowdown in Exports (Bloomberg Finance LP)
Four central banks in Asia held off from raising borrowing costs today even as the region contends with elevated inflation rates, forced into inaction by the threat of a slump in exports as the global outlook dims.
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