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India Equity Research Reports, IPO and Stock News
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Economy News
4 Caught in a storm over the Finance Ministry's note on the 2G case, the
UPA Government went into damage control mode on Thursday. Putting
up a show of unity, the Finance Minister, Mr Pranab Mukherjee, and the
Home Minister, Mr P. Chidambaram, told the media that the "matter is
closed". (BL)
4 The Government will borrow Rs 2.2 trn for the second half (October 2011-
March 2012) of the current fiscal. This is nearly Rs 530 bn more than the
budgeted amount. (BL)
4 Union Finance and Revenue Secretary R S Gujral on Thursday flagged
concerns over the dip in direct tax collection growth, saying it was
indicative of a "slowdown in the economy". The overall advance tax
collections are estimated to have grown by 12 per cent in the September
quarter against the budget target of 19 per cent. For top 100 companies,
the growth was a modest 9.9 per cent. (ET)
Corporate News
4 Gujarat State Petroleum Corporation (GSPC) has entered into a
preliminary agreement with BG India, subsidiary of the BG Group, a global
integrated natural gas company, for the long-term supply of up to 2.5
million tonnes per annum (mtpa) of liquefied natural gas (BS).
4 Power Grid Corporation of India (PGCIL) has commissioned the
transmission system for two units (2x800 mw) of the Mundra Ultra Mega
Power Project (UMPP) in Gujarat (BS).
4 Oberoi Realty has purchased 50% stake in I-Ven Realty from private
equity firm ICICI Venture (BS).
4 Axis Bank has launched a new home loan product that offers fixed
interest rate of 11.75 per cent, to cash in on the busy festival season
demand (FE).
4 Hindustan Construction Company (HCC) has sold 14.5 per cent stake
in its step-down subsidiary HCC Concessions to Xander Group for Rs 2.5 bn
(FE).
4 Mahindra & Mahindra has launched its global sports utility vehicle,
XUV500, at an introductory price between Rs 10.8 lakh and Rs 11.95 lakh
(ex-showroom, Delhi) (FE).
4 Wockhardt Ltd has informed the Bombay high court that it had decided
to clear the dues to its bondholders, amounting to Rs. 3580 mn, including
interest, in instalments and will give a detailed repayment plan to the
court on 4 October (Mint).
4 GAIL (India) Ltd has acquired a 20% stake in Houston-based Carrizo Oil
and Gas's Eagle Ford shale acreage in a move aimed at acquiring expertise
in a segment that may soon become a significant and lucrative one in
India, with the country expected to auction shale gas blocks in the next
few years (Mint).
4 Healthcare major Apollo Hospitals will add 500 beds by the end of this
fiscal, taking the total bed strength of the group to over 9,000 (Mint).
4 NALCO plans to diversify into nuclear power generation by investing
Rs114 billion jointly with Nuclear Power Corporation of India in a project
(BL).
4 Shareholders of Unitech has blocked the resolution for a dividend at the
annual general meeting (AGM) (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Caught in a storm over the Finance Ministry's note on the 2G case, the
UPA Government went into damage control mode on Thursday. Putting
up a show of unity, the Finance Minister, Mr Pranab Mukherjee, and the
Home Minister, Mr P. Chidambaram, told the media that the "matter is
closed". (BL)
4 The Government will borrow Rs 2.2 trn for the second half (October 2011-
March 2012) of the current fiscal. This is nearly Rs 530 bn more than the
budgeted amount. (BL)
4 Union Finance and Revenue Secretary R S Gujral on Thursday flagged
concerns over the dip in direct tax collection growth, saying it was
indicative of a "slowdown in the economy". The overall advance tax
collections are estimated to have grown by 12 per cent in the September
quarter against the budget target of 19 per cent. For top 100 companies,
the growth was a modest 9.9 per cent. (ET)
Corporate News
4 Gujarat State Petroleum Corporation (GSPC) has entered into a
preliminary agreement with BG India, subsidiary of the BG Group, a global
integrated natural gas company, for the long-term supply of up to 2.5
million tonnes per annum (mtpa) of liquefied natural gas (BS).
4 Power Grid Corporation of India (PGCIL) has commissioned the
transmission system for two units (2x800 mw) of the Mundra Ultra Mega
Power Project (UMPP) in Gujarat (BS).
4 Oberoi Realty has purchased 50% stake in I-Ven Realty from private
equity firm ICICI Venture (BS).
4 Axis Bank has launched a new home loan product that offers fixed
interest rate of 11.75 per cent, to cash in on the busy festival season
demand (FE).
4 Hindustan Construction Company (HCC) has sold 14.5 per cent stake
in its step-down subsidiary HCC Concessions to Xander Group for Rs 2.5 bn
(FE).
4 Mahindra & Mahindra has launched its global sports utility vehicle,
XUV500, at an introductory price between Rs 10.8 lakh and Rs 11.95 lakh
(ex-showroom, Delhi) (FE).
4 Wockhardt Ltd has informed the Bombay high court that it had decided
to clear the dues to its bondholders, amounting to Rs. 3580 mn, including
interest, in instalments and will give a detailed repayment plan to the
court on 4 October (Mint).
4 GAIL (India) Ltd has acquired a 20% stake in Houston-based Carrizo Oil
and Gas's Eagle Ford shale acreage in a move aimed at acquiring expertise
in a segment that may soon become a significant and lucrative one in
India, with the country expected to auction shale gas blocks in the next
few years (Mint).
4 Healthcare major Apollo Hospitals will add 500 beds by the end of this
fiscal, taking the total bed strength of the group to over 9,000 (Mint).
4 NALCO plans to diversify into nuclear power generation by investing
Rs114 billion jointly with Nuclear Power Corporation of India in a project
(BL).
4 Shareholders of Unitech has blocked the resolution for a dividend at the
annual general meeting (AGM) (BS)
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