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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The Prime Minister's economic think tank painted a disappointing twin
deficit picture for the economy and wrote a hard prescription. It wants the
Centre to raise excise duty and service tax rates by two percentage points,
decontrol diesel prices and prune subsidies to cut the fiscal deficit. The
PM's Economic Advisory Council (PMEAC) has asked the government to
narrow the current account deficit (CAD) in the range of 2-2.5 per cent of
GDP from a level worse than during the 1991 BoP (balance of payments)
crisis. (BS)
4 The government plans to further reduce gas supply to non-priority sectors
to meet the demand of fertilizer and power plants that are suffering
because output from Reliance's D6 field has fallen sharply, official sources
said. (ET)
4 Amid widening fiscal deficit, Prime Minister's economic advisory panel
today suggested aligning diesel prices to global market in a phased
manner and also raising excise and service taxes to pre-crisis level of 12
per cent. Releasing the Review of the Economy: 2011-12, Chairman of
Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan also
pitched for deregulation of urea prices. (ET)
4 The government has formally allowed local airlines to import jet fuel
directly, it said in a statement, in a major policy move expected to bring
down costs for debt-laden carriers. (BS)
4 The Reserve Bank of India (RBI) announced that it would purchase
government securities worth Rs 120 Bn through open market operations
(OMOs) on Friday to ease the current liquidity crisis. (BS)
Corporate News
4 Bharat Petroleum has turned to Saudi Arabia, the world's top oil
exporter, for higher supplies in 2012/13, fearing global sanctions may
jeopardise trade with Iran. (ET)
4 Reliance Industries has challenged market regulator Securities and
Exchange Board of India's probe into its alleged violation of takeover
norms over a promoter stake purchase in 2000. The plea was filed before
the Securities and Appellate Tribunal (SAT), two people close to the
development said. (ET)
4 DLF, the country's largest realty firm, has sold 350 flats worth about Rs.5
bn in a luxury housing project in Gurgaon. The housing project 'The
Primus', which is part of a 450 acre integrated township - DLF Garden City,
was launched yesterday and all the flats were sold on the same day. (BS)
4 Econet Wireless is seeking at least $3.1 billion in damages from Bharti
Airtel in a dispute over ownership of its subsidiary Airtel Nigeria,
according to a suit filed. (BS)
4 Hindustan Petroleum (HPCL) is looking to increase its borrowing limit
by Rs 100 Bn to Rs 420 Bn. The country's biggest oil marketer Indian Oil
had earlier raised borrowing limit by Rs 300 Bn to Rs 1100 Bn in October
last year. (BS)
4 Reliance Brands, a part of Reliance Industries, has formed an equal joint
venture with US-based Iconix Brand Group to launch the latter's 20
fashion and lifestyle brands in India. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The Prime Minister's economic think tank painted a disappointing twin
deficit picture for the economy and wrote a hard prescription. It wants the
Centre to raise excise duty and service tax rates by two percentage points,
decontrol diesel prices and prune subsidies to cut the fiscal deficit. The
PM's Economic Advisory Council (PMEAC) has asked the government to
narrow the current account deficit (CAD) in the range of 2-2.5 per cent of
GDP from a level worse than during the 1991 BoP (balance of payments)
crisis. (BS)
4 The government plans to further reduce gas supply to non-priority sectors
to meet the demand of fertilizer and power plants that are suffering
because output from Reliance's D6 field has fallen sharply, official sources
said. (ET)
4 Amid widening fiscal deficit, Prime Minister's economic advisory panel
today suggested aligning diesel prices to global market in a phased
manner and also raising excise and service taxes to pre-crisis level of 12
per cent. Releasing the Review of the Economy: 2011-12, Chairman of
Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan also
pitched for deregulation of urea prices. (ET)
4 The government has formally allowed local airlines to import jet fuel
directly, it said in a statement, in a major policy move expected to bring
down costs for debt-laden carriers. (BS)
4 The Reserve Bank of India (RBI) announced that it would purchase
government securities worth Rs 120 Bn through open market operations
(OMOs) on Friday to ease the current liquidity crisis. (BS)
Corporate News
4 Bharat Petroleum has turned to Saudi Arabia, the world's top oil
exporter, for higher supplies in 2012/13, fearing global sanctions may
jeopardise trade with Iran. (ET)
4 Reliance Industries has challenged market regulator Securities and
Exchange Board of India's probe into its alleged violation of takeover
norms over a promoter stake purchase in 2000. The plea was filed before
the Securities and Appellate Tribunal (SAT), two people close to the
development said. (ET)
4 DLF, the country's largest realty firm, has sold 350 flats worth about Rs.5
bn in a luxury housing project in Gurgaon. The housing project 'The
Primus', which is part of a 450 acre integrated township - DLF Garden City,
was launched yesterday and all the flats were sold on the same day. (BS)
4 Econet Wireless is seeking at least $3.1 billion in damages from Bharti
Airtel in a dispute over ownership of its subsidiary Airtel Nigeria,
according to a suit filed. (BS)
4 Hindustan Petroleum (HPCL) is looking to increase its borrowing limit
by Rs 100 Bn to Rs 420 Bn. The country's biggest oil marketer Indian Oil
had earlier raised borrowing limit by Rs 300 Bn to Rs 1100 Bn in October
last year. (BS)
4 Reliance Brands, a part of Reliance Industries, has formed an equal joint
venture with US-based Iconix Brand Group to launch the latter's 20
fashion and lifestyle brands in India. (ET)
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