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India Equity Research Reports, IPO and Stock News
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Economy News
4 Green clearance to coal blocks allocated to ultra-mega power projects of
companies such as Reliance Power, Essar and Adani are likely to be taken
up by the ministerial panel on March 1. (BL)
4 As per, National Association of Realtors existing home sales increased 4.3
percent to an annual rate of 4.57 million units in January, the fastest pace
since May 2010, pushing the supply of properties on the market to the
lowest level in almost seven years in a hopeful sign for the housing sector.
(BS)
4 The Tamil Nadu Electricity Board (TNEB) has announced a power holiday
to all industries with effect from March 1, and also announced 40 percent
power cut to all industrial and commercial consumers. (BS)
4 The government is likely to revert to the policy of using 25% of the
disinvestment proceeds for reviving sick PSUs and recapitalizing the
profitable ones from the next fiscal. (BS)
4 G 20 is working towards a second global rescue package worth nearly $2
trillion to stop the euro-zone sovereign debt crisis from spreading and
putting at risk the tentative recovery. (Mint)
Corporate News
4 State Bank of India (SBI) has announced waiver of service charge for
non-maintenance of minimum balance stipulations with respect to savings
accounts. (BL)
4 NTPC is looking at an investment of Rs 240 bn for constructing a 4,000-
Mw thermal power plant in Andhra Pradesh. (BS)
4 Pantaloon Retail is looking to scale back its expansion plans in the next
financial year if weak consumer demand persists in the coming quarters.
(BS)
4 Glenmark Pharmaceuticals had issued a voluntary nationwide recall in
the US for seven lots of its oral contraceptive Norgestimate and Ethinyl
Estradiol tablets due to a packaging error. (BS)
4 State Bank of India (SBI) has taken in-principle decision to slash interest
on education loans by up to 1 percentage point. (BS)
4 Oil and Natural Gas Corporation (ONGC) is spending Rs 260 bn to
develop 10 oil and gas clusters in western and eastern offshore, to
increase crude production by up to 4 million tonne per annum by 2013-
14.(BS)
4 NMDC is expecting to get mining license in some of the blocks in
Karnataka after the Central Empowered Committee (CEC) recommends
resumption of operations on some of the mining leases in the state. (BS)
4 Gati is in talks with German ship-management company Bernhard Schulte
to sell a strategic stake in its loss-making shipping business to raise cash to
tide over the financial crisis.(ET)
4 Hero MotoCorp will buy a minority stake in US motorcycle firm Erik Buell
Racing (EBR) for an undisclosed amount. (ET)
4 The government is likely to auction 5% of its stake in Oil and Natural
Gas Corporation (ONGC) this week to raise around Rs120 bn from the
stake sale. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Green clearance to coal blocks allocated to ultra-mega power projects of
companies such as Reliance Power, Essar and Adani are likely to be taken
up by the ministerial panel on March 1. (BL)
4 As per, National Association of Realtors existing home sales increased 4.3
percent to an annual rate of 4.57 million units in January, the fastest pace
since May 2010, pushing the supply of properties on the market to the
lowest level in almost seven years in a hopeful sign for the housing sector.
(BS)
4 The Tamil Nadu Electricity Board (TNEB) has announced a power holiday
to all industries with effect from March 1, and also announced 40 percent
power cut to all industrial and commercial consumers. (BS)
4 The government is likely to revert to the policy of using 25% of the
disinvestment proceeds for reviving sick PSUs and recapitalizing the
profitable ones from the next fiscal. (BS)
4 G 20 is working towards a second global rescue package worth nearly $2
trillion to stop the euro-zone sovereign debt crisis from spreading and
putting at risk the tentative recovery. (Mint)
Corporate News
4 State Bank of India (SBI) has announced waiver of service charge for
non-maintenance of minimum balance stipulations with respect to savings
accounts. (BL)
4 NTPC is looking at an investment of Rs 240 bn for constructing a 4,000-
Mw thermal power plant in Andhra Pradesh. (BS)
4 Pantaloon Retail is looking to scale back its expansion plans in the next
financial year if weak consumer demand persists in the coming quarters.
(BS)
4 Glenmark Pharmaceuticals had issued a voluntary nationwide recall in
the US for seven lots of its oral contraceptive Norgestimate and Ethinyl
Estradiol tablets due to a packaging error. (BS)
4 State Bank of India (SBI) has taken in-principle decision to slash interest
on education loans by up to 1 percentage point. (BS)
4 Oil and Natural Gas Corporation (ONGC) is spending Rs 260 bn to
develop 10 oil and gas clusters in western and eastern offshore, to
increase crude production by up to 4 million tonne per annum by 2013-
14.(BS)
4 NMDC is expecting to get mining license in some of the blocks in
Karnataka after the Central Empowered Committee (CEC) recommends
resumption of operations on some of the mining leases in the state. (BS)
4 Gati is in talks with German ship-management company Bernhard Schulte
to sell a strategic stake in its loss-making shipping business to raise cash to
tide over the financial crisis.(ET)
4 Hero MotoCorp will buy a minority stake in US motorcycle firm Erik Buell
Racing (EBR) for an undisclosed amount. (ET)
4 The government is likely to auction 5% of its stake in Oil and Natural
Gas Corporation (ONGC) this week to raise around Rs120 bn from the
stake sale. (ET)
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