01 October 2011

News headlines:: Oct 1 2011: CLSA,

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News headlines: Corporate
􀂉 GAIL has agreed to buy 20% stake in one of Carrizo Oil & Gas’
shale gas assets in US and will invest US$300m over the next five
years. (BS)
􀂉 NTPC is considering long-term offtake of coal from foreign coal
companies to meet the target of imported coal besides scouting for
acquisitions. (BS)
􀂉 M&M has launched its global sports utility vehicle, XUV500. (BS)
News headlines: Economic and political
􀂉 India will borrow Rs2.2tn in 2HFY12 higher than the budgeted
Rs1.67tn. (BS)
􀂉 Food inflation has increased to 9.13% for the week ended
September 17 from 8.84% in the previous week. (BS)
􀂉 The Mines and Mineral Development and Regulation Bill 2011 is
reportedly scheduled to be placed before the Cabinet today. (BS)
􀂉 Indian Banks’ Association has written to RBI arguing against
abolishment of penalties on the early repayment of floating rate
home loans. (Mint)
News headlines: Corporate

􀂉 Tata Steel’s rail facility in France has been upgraded to produce
longer 108m rails for high-speed networks. (BS)
􀂉 Bharti Airtel has entered into an agreement with Nokia Siemens
Networks to expand its 2G network and roll-out its 3G network in
seven African countries. (BS)
􀂉 Oberoi Realty has bought ICICI Venture’s entire 50% stake in a
luxury residential project proposed to be developed in Worli. (ET)
􀂉 Shareholders of Unitech have rejected the management’s
proposal for payment of dividend of Rs0.1 per equity share for
FY11. (BS)
􀂉 Axis Bank has unveiled a fixed home loan scheme which will
charge 11.75% interest for a 20-year loan. (mint)
􀂉 United Spirits has decided to invest Rs3.5bn in a glass bottle
manufacturing facility in Vijaywada. (FE)
􀂉 NTPC has tied up a syndicated loan of Rs.23.4bn for its 390MW
power plant in Muzhaffarpur, Bihar. (BL)
􀂉 Maruti Suzuki has drawn up plans to double its sales network by
2015 across India with a focus on small towns and cities. (BS)
􀂉 Essar Steel’s plea against Ministry of Petroleum and Natural Gas
decision asking Reliance Industries to cut gas supply to it from KGD6
basis has been rejected. (BS)
􀂉 Bank of Maharashtra has raised Base rate by 20bps to 10.7%.
(BS)
􀂉 BG Group has signed an agreement to sell up to 2.5mtpa of LNG
to Gujarat State Petronet (GPSC) on a long-term contract. (BS)
􀂉 Ashok Leyland has secured a Rs1.78bn order from the
government of Tanzania to supply 723 trucks, buses and
application vehicles. (BS)
􀂉 The shareholders of Spicejet have approved issuing over 35.9m
shares estimated around Rs1.3bn to Kalanithi Maran on
preferential basis. (BS)
􀂉 Nalco has drawn up plans to invest Rs115bn to diversify into
nuclear power. (BS)
􀂉 Sistema Shyam Teleservices has received a loan totaling
US$200m from ICICI bank (50%) and Barclays Bank (50%).
(BS)
􀂉 Dewan Housing Finance plans to raise up to Rs10bn through
share sale. (BS)
􀂉 Wockhardt has decided to the dues to its bondholders amounting
to Rs3.6bn. (Mint)

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