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Economy News
4 The Planning Commission has decided to again review the two main, and
opposed, models of road contracts, namely, build-operate transfer or
annuity model, and the item-rate one (BS).
4 Unsatisfied with the progress of proposed steel projects, entailing an
estimated investment of Rs11 trillion, the government will review
hundreds of MoUs signed by companies in the past five-six years (ET).
Corporate News
4 Maruti is racing ahead to clock its highest production figures during this
fiscal in October. The company has fixed production targets at 30-40 %
higher, compared to September when it produced 73,000 cars (ET).
4 NMDC Ltd, the public sector mining major, has lined up capex of Rs 24.5
bn for various mining projects. The proposed investments will take
NMDC's capacity to 50 million tonnes per annum (mtpa). The company
also initiated a dialogue with a US-based company, to procure technology,
to produce coke-equivalent in India from thermal coal (BS).
4 The Walt Disney Company has acquired all the equity in UTV's
Indiagames for an estimated USD80-100 million. Indiagames is a leading
developer and publisher of mobile and online games (BS).
4 Citigroup Venture Capital International and Standard Chartered Private
Equity are looking at acquiring stake in Dewan Housing Finance Corp.
The Wadhawan family controlled DHFL is looking to dilute less than 15%
stake for roughly Rs 5 bn (ET).
4 Two companies, Hiranandani Group and Gas Authority of India (GAIL)
are looking to set up liquefied natural gas (LNG) terminals in the state,
eyeing the market in the Haldia industrial belt (BS).
4 Weeks after the Central Vigilance Commission (CVC) referred to the
Cabinet Committee for the cancellation of the selection of two
shortlisted candidates for Coal India's Chairman Position, a top coal
ministry official has said that if the government clears the CVC suggestion
the selection process would restart within a month (BL).
4 Reliance Communications' (RCom) subsidiary, Reliance Globalcom has
upgraded capacity of its undersea cable to over 500 Gigabytes per
second. Capacities of two cables, Flag Europe Asia (FEA) and FALCON
Cable Systems, were upgraded on Wednesday (BL).
4 Suzlon Energy Limited has announced its third consecutive order from
GAIL. The order comprises of 17 units of Suzlon's S82 - 1.5 MW wind
turbines, to be commissioned in Karnataka in 2012 (BS).
4 Mundra Port and Special Economic Zone, India's largest private port,
has emerged as the sole bidder for Chennai port's Rs 36.8bn mega
container terminal project (BS).
News Round-up
Grappling with high input costs and sluggish market demand, domestic steel
companies have resorted to price hike to maintain their margins. All the major
integrated steel producers have raised the prices by INR 1000- INR 2000 per tonne for
various grades of steel beginning this month. (FNLE-THU)
3G roaming agreements of Bharti Airtel (BHARTI IN), Vodafone, Idea (IDEA IN) under
DoT scanner, telecom dept. seeks legal wing, regulators view on pact. (ECNT)
SBI (SBIN IN) expects USD 2 bn government infusion in FY12. (FNLE-THU)
SBI (SBIN IN) will cut govt. bond holdings & insure trade credit in a bid to optimize
capital after rating firm Moody's downgraded it citing its inability to raise funds & the
scope for higher bad loans due to high interest rates. (ECNT)
After SBI's (SBIN IN) rating cut, government takes stock of its banks. Asks banks to
furnish capital, ratings and NPA details. (BSTD-FRI)
SBI (SBIN IN) targets higher deposits, eyes more high-networth customers. (FNLE-FRI)
ICICI Bank (ICICIBC IN) and Axis Bank's (AXSB IN) financial positions received the
thumbs-up from rating agencies Moody's and Ftch, respectively. Their ratings were
retained, a day after the SBI (SBIN IN), was downgraded by Moody's. (BSTD-THU)
CBI may file FIR in Reliance-DGH case. CBI is likely to frame charges on RIL (RIL IN)
having been allowed to retain entire KG-D6 acreage. (BSTD-THU)
After threatening to cut supplies, Reliance Industries (RIL IN) withdrew the notice for
suspension of natural gas supplies to four fertiliser plants in Uttar Pradesh, saying it
will work with urea manufacturers to resolve outstanding issues. (BSTD-FRI)
US private equity giant Carlye Group has bought 9 per cent of Indian Financial
services firm India Infoline (IIFL IN) on the open market. (THBL FRI)
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 The Planning Commission has decided to again review the two main, and
opposed, models of road contracts, namely, build-operate transfer or
annuity model, and the item-rate one (BS).
4 Unsatisfied with the progress of proposed steel projects, entailing an
estimated investment of Rs11 trillion, the government will review
hundreds of MoUs signed by companies in the past five-six years (ET).
Corporate News
4 Maruti is racing ahead to clock its highest production figures during this
fiscal in October. The company has fixed production targets at 30-40 %
higher, compared to September when it produced 73,000 cars (ET).
4 NMDC Ltd, the public sector mining major, has lined up capex of Rs 24.5
bn for various mining projects. The proposed investments will take
NMDC's capacity to 50 million tonnes per annum (mtpa). The company
also initiated a dialogue with a US-based company, to procure technology,
to produce coke-equivalent in India from thermal coal (BS).
4 The Walt Disney Company has acquired all the equity in UTV's
Indiagames for an estimated USD80-100 million. Indiagames is a leading
developer and publisher of mobile and online games (BS).
4 Citigroup Venture Capital International and Standard Chartered Private
Equity are looking at acquiring stake in Dewan Housing Finance Corp.
The Wadhawan family controlled DHFL is looking to dilute less than 15%
stake for roughly Rs 5 bn (ET).
4 Two companies, Hiranandani Group and Gas Authority of India (GAIL)
are looking to set up liquefied natural gas (LNG) terminals in the state,
eyeing the market in the Haldia industrial belt (BS).
4 Weeks after the Central Vigilance Commission (CVC) referred to the
Cabinet Committee for the cancellation of the selection of two
shortlisted candidates for Coal India's Chairman Position, a top coal
ministry official has said that if the government clears the CVC suggestion
the selection process would restart within a month (BL).
4 Reliance Communications' (RCom) subsidiary, Reliance Globalcom has
upgraded capacity of its undersea cable to over 500 Gigabytes per
second. Capacities of two cables, Flag Europe Asia (FEA) and FALCON
Cable Systems, were upgraded on Wednesday (BL).
4 Suzlon Energy Limited has announced its third consecutive order from
GAIL. The order comprises of 17 units of Suzlon's S82 - 1.5 MW wind
turbines, to be commissioned in Karnataka in 2012 (BS).
4 Mundra Port and Special Economic Zone, India's largest private port,
has emerged as the sole bidder for Chennai port's Rs 36.8bn mega
container terminal project (BS).
News Round-up
Grappling with high input costs and sluggish market demand, domestic steel
companies have resorted to price hike to maintain their margins. All the major
integrated steel producers have raised the prices by INR 1000- INR 2000 per tonne for
various grades of steel beginning this month. (FNLE-THU)
3G roaming agreements of Bharti Airtel (BHARTI IN), Vodafone, Idea (IDEA IN) under
DoT scanner, telecom dept. seeks legal wing, regulators view on pact. (ECNT)
SBI (SBIN IN) expects USD 2 bn government infusion in FY12. (FNLE-THU)
SBI (SBIN IN) will cut govt. bond holdings & insure trade credit in a bid to optimize
capital after rating firm Moody's downgraded it citing its inability to raise funds & the
scope for higher bad loans due to high interest rates. (ECNT)
After SBI's (SBIN IN) rating cut, government takes stock of its banks. Asks banks to
furnish capital, ratings and NPA details. (BSTD-FRI)
SBI (SBIN IN) targets higher deposits, eyes more high-networth customers. (FNLE-FRI)
ICICI Bank (ICICIBC IN) and Axis Bank's (AXSB IN) financial positions received the
thumbs-up from rating agencies Moody's and Ftch, respectively. Their ratings were
retained, a day after the SBI (SBIN IN), was downgraded by Moody's. (BSTD-THU)
CBI may file FIR in Reliance-DGH case. CBI is likely to frame charges on RIL (RIL IN)
having been allowed to retain entire KG-D6 acreage. (BSTD-THU)
After threatening to cut supplies, Reliance Industries (RIL IN) withdrew the notice for
suspension of natural gas supplies to four fertiliser plants in Uttar Pradesh, saying it
will work with urea manufacturers to resolve outstanding issues. (BSTD-FRI)
US private equity giant Carlye Group has bought 9 per cent of Indian Financial
services firm India Infoline (IIFL IN) on the open market. (THBL FRI)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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