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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Food inflation, measured by the Wholesale Price Index (WPI) fell to nearly
four-month low of 9.01% for the week ended November 12. It was
10.63% in the previous week. It was 11.38% in the corresponding period
in 2010 (ET).
4 Foreign direct investment (FDI) of up to 51 per cent has been allowed in
multi-brand retail. Simultaneously, the Cabinet also gave the nod for
upping the FDI limit in single-brand retail ventures to 100 per cent (BL).
4 The cabinet on Thursday approved the Companies Bill 2011, a draft law to
comprehensively amend the 55-year-old Companies Act 1956 (BS).
Corporate News
4 Ranbaxy said to be close to a deal with USFDA, could pay $350-400 m
penalty to settle outstanding issues. This brightens its prospects of
launching the low-cost version Lipitor in the US next week. (ET).
4 KEC International has sold its 7.63-acre land block located in Trans-
Thane Creek Industrial Area between Thane and Navi Mumbai to
Vodafone Shared Services for Rs725 mn (ET).
4 BEML Limited is looking at a turnover of Rs 20bn from the mining and
construction equipment business during the current fiscal (2011-12), a
growth of 25 per cent over last fiscal (BS).
4 Motherson Sumi Systems (MSSL) has completed acquiring 80% stake
in Germany's Peguform Group for EUR141.5 million from Cross Industries
AG.Besides. It has bought 50% stake in Wethje Carbon Composite GmbH
and Wethje Entwicklungs Gmbh from Cross Industries AG (ET).
4 Polaris has announced plans to completely acquire Indigo Tx Software
Private Limited, a software as a service (SaaS) player. The company, in
March 2010, had acquired 51 per cent equity shares of Chennai-based
IndigoTx Software (BS).
4 Kingfisher Airlines would be returning two aircraft to leaser AerCap
Holdings as both the parties not agree on extension terms. These two
aircraft were coming up for renewal of lease contract in the next three
months (ET)
4 Jindal Saw has received orders to the tune of Rs. 10 bn. These orders are
to be executed over the next one year. The orders provide hope as Jindal
Saw's financial performance for the first two quarters of this fiscal has
been quite lacklustre (MINT).
4 Hindustan Construction Company (HCC) has bagged Rs 9.8 bn order
to build the superstructure of the Bogibeel rail-cum-road bridge over the
Brahmaputra in Assam in consortia with two other firms (BL).
News Round-up
�� Food inflation was back in single-digit territory after five weeks at a four-month low
of 9.01% for the week ended November 12. (BSTD)
�� Seven years after it was first proposed, the cabinet approved the Companies Bill
2011, a draft law to comprehensively amend the 55-year-old Companies Act 1956. It
will be tabled in Parliament during the current session. The Bill aims at the
modernization of corporate regulation. (BSTD)
�� Private equity & venture capital funds will not be clubbed with promoters, a
relaxation that the capital market regulator SEBI announced to lend greater flexibility
to these financial investors as well as cos. planning to mop up funds. (ECNT)
�� RBI has bought USD 1.81 bn in govt. bonds through open market operations, slightly
lower than the target of USD 1.92 bn, in a move aimed at easing liquidity. (ECNT)
�� Total FII investment flow into the country in 2011 turned negative as foriegn fund
managers took another USD 314.2 mn off the table on Thursday.
�� The steel demand growth in the first seven months of the current financial year was
just 2.9%, but the steel ministry is confident the sector would be able to post, at
least, 6% growth rate. (BSTD)
�� Defying stiff opposition from various quarters and sending a bold pro-reforms signal,
the UPA government approved 51% foreign direct investment (FDI) in multi-brand
retail and allowed 100% foreign ownership in single-brand retail, up from the
current 51%. (FNLE)
�� Walmart may be 1st global player to enter India. Future group's talks with global
retailers to fructify; Tesco to get a leg up. (BSTD)
�� M&M's (MM IN) Kinetic Motors buyout yet to reap benefits 3 years on. Its losses are
up, sole motorcycle has sputtered & performance bike is not ready yet. (FNLE)
�� L&T Infra to raise USD 211 mn via tax-saving infrastructure bonds. (BSTD)
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 Food inflation, measured by the Wholesale Price Index (WPI) fell to nearly
four-month low of 9.01% for the week ended November 12. It was
10.63% in the previous week. It was 11.38% in the corresponding period
in 2010 (ET).
4 Foreign direct investment (FDI) of up to 51 per cent has been allowed in
multi-brand retail. Simultaneously, the Cabinet also gave the nod for
upping the FDI limit in single-brand retail ventures to 100 per cent (BL).
4 The cabinet on Thursday approved the Companies Bill 2011, a draft law to
comprehensively amend the 55-year-old Companies Act 1956 (BS).
Corporate News
4 Ranbaxy said to be close to a deal with USFDA, could pay $350-400 m
penalty to settle outstanding issues. This brightens its prospects of
launching the low-cost version Lipitor in the US next week. (ET).
4 KEC International has sold its 7.63-acre land block located in Trans-
Thane Creek Industrial Area between Thane and Navi Mumbai to
Vodafone Shared Services for Rs725 mn (ET).
4 BEML Limited is looking at a turnover of Rs 20bn from the mining and
construction equipment business during the current fiscal (2011-12), a
growth of 25 per cent over last fiscal (BS).
4 Motherson Sumi Systems (MSSL) has completed acquiring 80% stake
in Germany's Peguform Group for EUR141.5 million from Cross Industries
AG.Besides. It has bought 50% stake in Wethje Carbon Composite GmbH
and Wethje Entwicklungs Gmbh from Cross Industries AG (ET).
4 Polaris has announced plans to completely acquire Indigo Tx Software
Private Limited, a software as a service (SaaS) player. The company, in
March 2010, had acquired 51 per cent equity shares of Chennai-based
IndigoTx Software (BS).
4 Kingfisher Airlines would be returning two aircraft to leaser AerCap
Holdings as both the parties not agree on extension terms. These two
aircraft were coming up for renewal of lease contract in the next three
months (ET)
4 Jindal Saw has received orders to the tune of Rs. 10 bn. These orders are
to be executed over the next one year. The orders provide hope as Jindal
Saw's financial performance for the first two quarters of this fiscal has
been quite lacklustre (MINT).
4 Hindustan Construction Company (HCC) has bagged Rs 9.8 bn order
to build the superstructure of the Bogibeel rail-cum-road bridge over the
Brahmaputra in Assam in consortia with two other firms (BL).
News Round-up
�� Food inflation was back in single-digit territory after five weeks at a four-month low
of 9.01% for the week ended November 12. (BSTD)
�� Seven years after it was first proposed, the cabinet approved the Companies Bill
2011, a draft law to comprehensively amend the 55-year-old Companies Act 1956. It
will be tabled in Parliament during the current session. The Bill aims at the
modernization of corporate regulation. (BSTD)
�� Private equity & venture capital funds will not be clubbed with promoters, a
relaxation that the capital market regulator SEBI announced to lend greater flexibility
to these financial investors as well as cos. planning to mop up funds. (ECNT)
�� RBI has bought USD 1.81 bn in govt. bonds through open market operations, slightly
lower than the target of USD 1.92 bn, in a move aimed at easing liquidity. (ECNT)
�� Total FII investment flow into the country in 2011 turned negative as foriegn fund
managers took another USD 314.2 mn off the table on Thursday.
�� The steel demand growth in the first seven months of the current financial year was
just 2.9%, but the steel ministry is confident the sector would be able to post, at
least, 6% growth rate. (BSTD)
�� Defying stiff opposition from various quarters and sending a bold pro-reforms signal,
the UPA government approved 51% foreign direct investment (FDI) in multi-brand
retail and allowed 100% foreign ownership in single-brand retail, up from the
current 51%. (FNLE)
�� Walmart may be 1st global player to enter India. Future group's talks with global
retailers to fructify; Tesco to get a leg up. (BSTD)
�� M&M's (MM IN) Kinetic Motors buyout yet to reap benefits 3 years on. Its losses are
up, sole motorcycle has sputtered & performance bike is not ready yet. (FNLE)
�� L&T Infra to raise USD 211 mn via tax-saving infrastructure bonds. (BSTD)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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