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India Equity Research Reports, IPO and Stock News
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News headlines: Corporate
Maruti would shut its Gurgaon plant for two days due to
component supply constraints from Suzuki Powertrain India, where
workers were on a stir in support of the strike at the company's
Manesar plant. (BS)
HPCL had shut fuel supply for four-five hours to Kingfisher
Airlines on Thursday evening across all airports over non-payment
of dues. This forced the airlines to reschedule flights for second
time in four months. (ET)
Hyundai Motor has launched its entry level compact car Eon at
an introductory price of Rs0.27mn (ex-showroom Delhi). (BS)
As per sources, the process of merging the cement business of
Century Textiles with Ultratech may have started. (BS)
News headlines: Economic and political
Food inflation measured by WPI declined marginally, but was still
high at 9.32%YoY for the week ended October 1. (BS)
The World Steel Association has cut India's steel use growth
forecast to 4.3%YoY in 2011 from earlier projection of 13.3%. (BL)
Cabinet has approved a new policy for acquisition of raw material
assets abroad by central PSUs with a three year record of profit,
vesting more powers with Maharatna and Navratna companies for
such buy-outs. (BS)
A Group of Ministers (GoM) headed by the Finance Minister has
accepted most of the recommendations made by the Ashok Chawla
committee. Amongst other things, the panel had suggested a
movement towards market determined natural gas prices. (ET)
The Cabinet approved the introduction of the Enforcement of
Security Interest and Recovery of Debts Laws (Amendment) Bill,
2011, in the next Winter Session of Parliament. The proposed
amendments would enable banks to improve their operational
efficiency, deploy more funds for credit disbursement to retail
investors, home loan borrowers, etc, without fearing for recovery,
thus bringing about equity. (BS)
News headlines: Corporate
The Oil Ministry has allocated 7.23 mmscmd of natural gas from
ONGC’s fields to power and fertiliser firms, including Reliance
Infra, NTPC and National Fertilisers Ltd. (BS)
The Coal Mines Officers Association (CMOAI), which represents
Coal India’s management cadres, has called for a nation wide
strike on November 15, to demand payment of salary arrears. (ET)
Volvo Buses plans to invest about Rs4bn in India in a new plant
as well as expand its existing facility near Bangalore. (BL)
Suzlon has disposed of its remaining 26.06% stake in Hansen
Transmissions and has received sale proceeds of Rs8.9bn. (BS)
Infosys has clarified that it was not in talks to acquire the
healthcare business of Thomson Reuters Corp. (BS)
HDFC Bank has tied up with Diners Club International to issue
Diners Club International credit cards in India. (BL)
Amazon has agreed to invest US$100 million more on their facility
in the state of Andhra Pradesh. (BL)
As per a government official, the Orissa State Pollution Control
Board has issued a closure notice to 10 sponge iron units of the
Bhushan Group of companies over violation of pollution control
norms. (FE)
As per the secretary of Financial Services, the government plans to
infuse Rs8-45bn of funds in SBI by March 2012. (BS)
Indian Railways plan to issue tax-free bonds to raise around
Rs100bn. (BS)
Tata Steel may cut production further in Europe in the next few
months if steel orders weaken. The company had already cut
production capacity from 85-90% in the first half this year to 80-
85% currently. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News headlines: Corporate
Maruti would shut its Gurgaon plant for two days due to
component supply constraints from Suzuki Powertrain India, where
workers were on a stir in support of the strike at the company's
Manesar plant. (BS)
HPCL had shut fuel supply for four-five hours to Kingfisher
Airlines on Thursday evening across all airports over non-payment
of dues. This forced the airlines to reschedule flights for second
time in four months. (ET)
Hyundai Motor has launched its entry level compact car Eon at
an introductory price of Rs0.27mn (ex-showroom Delhi). (BS)
As per sources, the process of merging the cement business of
Century Textiles with Ultratech may have started. (BS)
News headlines: Economic and political
Food inflation measured by WPI declined marginally, but was still
high at 9.32%YoY for the week ended October 1. (BS)
The World Steel Association has cut India's steel use growth
forecast to 4.3%YoY in 2011 from earlier projection of 13.3%. (BL)
Cabinet has approved a new policy for acquisition of raw material
assets abroad by central PSUs with a three year record of profit,
vesting more powers with Maharatna and Navratna companies for
such buy-outs. (BS)
A Group of Ministers (GoM) headed by the Finance Minister has
accepted most of the recommendations made by the Ashok Chawla
committee. Amongst other things, the panel had suggested a
movement towards market determined natural gas prices. (ET)
The Cabinet approved the introduction of the Enforcement of
Security Interest and Recovery of Debts Laws (Amendment) Bill,
2011, in the next Winter Session of Parliament. The proposed
amendments would enable banks to improve their operational
efficiency, deploy more funds for credit disbursement to retail
investors, home loan borrowers, etc, without fearing for recovery,
thus bringing about equity. (BS)
News headlines: Corporate
The Oil Ministry has allocated 7.23 mmscmd of natural gas from
ONGC’s fields to power and fertiliser firms, including Reliance
Infra, NTPC and National Fertilisers Ltd. (BS)
The Coal Mines Officers Association (CMOAI), which represents
Coal India’s management cadres, has called for a nation wide
strike on November 15, to demand payment of salary arrears. (ET)
Volvo Buses plans to invest about Rs4bn in India in a new plant
as well as expand its existing facility near Bangalore. (BL)
Suzlon has disposed of its remaining 26.06% stake in Hansen
Transmissions and has received sale proceeds of Rs8.9bn. (BS)
Infosys has clarified that it was not in talks to acquire the
healthcare business of Thomson Reuters Corp. (BS)
HDFC Bank has tied up with Diners Club International to issue
Diners Club International credit cards in India. (BL)
Amazon has agreed to invest US$100 million more on their facility
in the state of Andhra Pradesh. (BL)
As per a government official, the Orissa State Pollution Control
Board has issued a closure notice to 10 sponge iron units of the
Bhushan Group of companies over violation of pollution control
norms. (FE)
As per the secretary of Financial Services, the government plans to
infuse Rs8-45bn of funds in SBI by March 2012. (BS)
Indian Railways plan to issue tax-free bonds to raise around
Rs100bn. (BS)
Tata Steel may cut production further in Europe in the next few
months if steel orders weaken. The company had already cut
production capacity from 85-90% in the first half this year to 80-
85% currently. (BS)
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