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India Equity Research Reports, IPO and Stock News
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Economy News
4 The Government's fiscal deficit in the just ended first six months has
exceeded 70 per cent of the Budget target, according to the Controller
General of Accounts (CGA). The data also show a massive revenue
shortfall. Only 36.6 per cent of the budgeted tax revenue and 40.5 per
cent of the non-tax revenue have been achieved in the first six months.
(BL)
4 With rising input costs and high interest rates, growth in eight key
infrastructure sectors slowed down to 2.3 per cent in September from 3.3
per cent a year ago. Coal, natural gas and fertiliser showed decline in
output raising concerns for the industry and government. The numbers
were discouraging even compared to August when these sectors grew by
3.7 per cent. (ET)
4 Having made it difficult for foreign investors to exit from an investment
and having been greeted by a chorus of protest, the Government has
now dropped the controversial provision that put all the instruments with
inbuilt options outside the ambit of Foreign Direct Investment. (BL)
Corporate News
4 Hyderabad-based engineering and construction company IVRCL Limited,
and its subsidiary IVRCL Infrastructures and Projects Limited,
received in-principle approval from their respective boards to pursue the
proposal for amalgamation of IVRCL Assets with IVRCL Limited. (BS)
4 Setting speculations on its next acquisition at rest, Reliance Industries
(RIL) said it is not in talks to acquire the US-based oil refiner Valero
Energy. (BS)
4 Tata Motors will challenge the Calcutta High Court order upholding the
validity of the Singur Land and Rehabilitation and Development Act. The
company on Monday filed an appeal in the division bench and the matter
would be heard from tomorrow. (BS)
4 After a one-off reduction, state-owned oil companies today hiked jet fuel
prices by a steep 3.8% in line. The price of aviation turbine fuel (ATF), or
jet fuel, at Delhi's T3 airport was raised by Rs 2,845 per kilolitre (kl), or
3.8%, to Rs 61,115 per kl with effect from midnight tonight, an official of
Indian Oil Corporation (IOC), said. (BS)
4 Sterlite Industries plans to convert all its loans in a loss-making group
firm into equity, putting it on a possible collision course with its
shareholders. (ET)
4 NHPC Ltd expects to raise Rs.20-30 bn by the end of March 2012 via term
loans and rupee bonds to fund construction of projects, R.K. Taneja,
executive director, finance, said. (ET)
4 The country's drug regulator has given conditional market approval for
Ranbaxy Laboratories' anti-malaria drug, paving the way for the launch
of the country's first privately-developed medicine. (ET)
News Round-up
Reliance Industries (RIL IN) plans to invest up to USD 2.33 bn to produce about 15
million standard cubic metres per day of gas from the R-series gas field in its eastern
offshore Krishna Godavari D6 block. (BSTD)
After the international media went abuzz last week over Reliance Industries Ltd (RIL
IN) looking to buy Valero Energy Corp, the Indian petrochem major today
categorically denied the move. (BSTD)
In a bid to strengthen its presence in the European market, Wipro Technologies
opened a data center in Meerbusch, Germany, with an investment of USD 20 mn.
(BSTD)
Tata Motors (TTMT IN) will challenge the Calcutta High Court order upholding the
validity of the Singur Land and Rehabilitation and Development Act. (BSTD)
Sterlite Ind. (STLT IN) plans to convert all its loans in loss-making group firm Vedanta
Aluminum into equity. (ECNT)
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 Government's fiscal deficit in the just ended first six months has
exceeded 70 per cent of the Budget target, according to the Controller
General of Accounts (CGA). The data also show a massive revenue
shortfall. Only 36.6 per cent of the budgeted tax revenue and 40.5 per
cent of the non-tax revenue have been achieved in the first six months.
(BL)
4 With rising input costs and high interest rates, growth in eight key
infrastructure sectors slowed down to 2.3 per cent in September from 3.3
per cent a year ago. Coal, natural gas and fertiliser showed decline in
output raising concerns for the industry and government. The numbers
were discouraging even compared to August when these sectors grew by
3.7 per cent. (ET)
4 Having made it difficult for foreign investors to exit from an investment
and having been greeted by a chorus of protest, the Government has
now dropped the controversial provision that put all the instruments with
inbuilt options outside the ambit of Foreign Direct Investment. (BL)
Corporate News
4 Hyderabad-based engineering and construction company IVRCL Limited,
and its subsidiary IVRCL Infrastructures and Projects Limited,
received in-principle approval from their respective boards to pursue the
proposal for amalgamation of IVRCL Assets with IVRCL Limited. (BS)
4 Setting speculations on its next acquisition at rest, Reliance Industries
(RIL) said it is not in talks to acquire the US-based oil refiner Valero
Energy. (BS)
4 Tata Motors will challenge the Calcutta High Court order upholding the
validity of the Singur Land and Rehabilitation and Development Act. The
company on Monday filed an appeal in the division bench and the matter
would be heard from tomorrow. (BS)
4 After a one-off reduction, state-owned oil companies today hiked jet fuel
prices by a steep 3.8% in line. The price of aviation turbine fuel (ATF), or
jet fuel, at Delhi's T3 airport was raised by Rs 2,845 per kilolitre (kl), or
3.8%, to Rs 61,115 per kl with effect from midnight tonight, an official of
Indian Oil Corporation (IOC), said. (BS)
4 Sterlite Industries plans to convert all its loans in a loss-making group
firm into equity, putting it on a possible collision course with its
shareholders. (ET)
4 NHPC Ltd expects to raise Rs.20-30 bn by the end of March 2012 via term
loans and rupee bonds to fund construction of projects, R.K. Taneja,
executive director, finance, said. (ET)
4 The country's drug regulator has given conditional market approval for
Ranbaxy Laboratories' anti-malaria drug, paving the way for the launch
of the country's first privately-developed medicine. (ET)
News Round-up
Reliance Industries (RIL IN) plans to invest up to USD 2.33 bn to produce about 15
million standard cubic metres per day of gas from the R-series gas field in its eastern
offshore Krishna Godavari D6 block. (BSTD)
After the international media went abuzz last week over Reliance Industries Ltd (RIL
IN) looking to buy Valero Energy Corp, the Indian petrochem major today
categorically denied the move. (BSTD)
In a bid to strengthen its presence in the European market, Wipro Technologies
opened a data center in Meerbusch, Germany, with an investment of USD 20 mn.
(BSTD)
Tata Motors (TTMT IN) will challenge the Calcutta High Court order upholding the
validity of the Singur Land and Rehabilitation and Development Act. (BSTD)
Sterlite Ind. (STLT IN) plans to convert all its loans in loss-making group firm Vedanta
Aluminum into equity. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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