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India Equity Research Reports, IPO and Stock News
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Economy News
4 Railway ministry has withdrawn the hike in passenger fares for all classes
including suburban trains. Price hikes would have raised an additional
Rs 40 bn for the Railways (ET)
4 The finance ministry is exploring setting up an exchange-traded fund,or
ETF,to sell stakes in state-run companies as it seeks to ensure that its
disinvestment plan does not get affected (ET).
4 The industry ministry is planning another round of consultation on the
proposal to allow foreign airlines to invest up to 49% in the country’s
aviation sector, potentially delaying any infusion of capital in cashstrapped domestic carriers (ET).
Corporate News
4 Unitech has sought about $150 million from Norways Telenor to sell its
32.7% stake in their telecom joint venture and end the bitter dispute
between the two partners (ET).
4 The government has approved Reliance Industries $1.529 billion plan to
produce over 10 million standard cubic meters per day of gas from four
satellite fields in the flagging KG-D 6 block (ET).
4 Parsvnath Developers is raising Rs 1.2 bn from domestic PE Fund for a
new Rs 1bn integrated township project on Sohna Road in Gurgaon. PE
Fund will have 20% stake in the special purpose vehicle that will develop
the unnamed project (ET).
4 L&T has obtained orders worth Rs 11.2 b in the construction segment. In
power transmission and distribution it has secured orders worth Rs 5.4 bn
from Abu Dhabi Water & Electricity Authority, UAE (BL).
4 Novelis, flagship company of Hindalco Industries, has been selling its
loss-making assets for a while, even if it means selling a smelter in a highgrowth market like Brazil. It is selling three aluminium foil manufacturing
plants in Europe to American Industrial Acquisition Corporation (AIAC).
The plants are located in France, Luxembourg and Germany (BS).
4 Thermax said it has acquired the steam division of Virgo Valves &
Controls Ltd, India and its German subsidiary company Rifox-Hans Richter
GmbH, a leading steam traps and allied steam accessories manufacturer.
The acquisition was completed on March 21 for Rs 1.34 bn (euro 2 million)
(BS).
4 Tata Communications has said that it has completed the world's first
round-the-world fibre optic cable network. This happened with the launch
of its Tata Global Network - Eurasia (TGN-EA) cable (BL).
4 Indian Oil Corporation is constructing the integrated terminal which will
use Ennore port for its LNG handling. The Rs 45 bn integrated liquefied
natural gas (LNG) terminal at Katupalli near Chennai will come up by
December 2015 (BL)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Railway ministry has withdrawn the hike in passenger fares for all classes
including suburban trains. Price hikes would have raised an additional
Rs 40 bn for the Railways (ET)
4 The finance ministry is exploring setting up an exchange-traded fund,or
ETF,to sell stakes in state-run companies as it seeks to ensure that its
disinvestment plan does not get affected (ET).
4 The industry ministry is planning another round of consultation on the
proposal to allow foreign airlines to invest up to 49% in the country’s
aviation sector, potentially delaying any infusion of capital in cashstrapped domestic carriers (ET).
Corporate News
4 Unitech has sought about $150 million from Norways Telenor to sell its
32.7% stake in their telecom joint venture and end the bitter dispute
between the two partners (ET).
4 The government has approved Reliance Industries $1.529 billion plan to
produce over 10 million standard cubic meters per day of gas from four
satellite fields in the flagging KG-D 6 block (ET).
4 Parsvnath Developers is raising Rs 1.2 bn from domestic PE Fund for a
new Rs 1bn integrated township project on Sohna Road in Gurgaon. PE
Fund will have 20% stake in the special purpose vehicle that will develop
the unnamed project (ET).
4 L&T has obtained orders worth Rs 11.2 b in the construction segment. In
power transmission and distribution it has secured orders worth Rs 5.4 bn
from Abu Dhabi Water & Electricity Authority, UAE (BL).
4 Novelis, flagship company of Hindalco Industries, has been selling its
loss-making assets for a while, even if it means selling a smelter in a highgrowth market like Brazil. It is selling three aluminium foil manufacturing
plants in Europe to American Industrial Acquisition Corporation (AIAC).
The plants are located in France, Luxembourg and Germany (BS).
4 Thermax said it has acquired the steam division of Virgo Valves &
Controls Ltd, India and its German subsidiary company Rifox-Hans Richter
GmbH, a leading steam traps and allied steam accessories manufacturer.
The acquisition was completed on March 21 for Rs 1.34 bn (euro 2 million)
(BS).
4 Tata Communications has said that it has completed the world's first
round-the-world fibre optic cable network. This happened with the launch
of its Tata Global Network - Eurasia (TGN-EA) cable (BL).
4 Indian Oil Corporation is constructing the integrated terminal which will
use Ennore port for its LNG handling. The Rs 45 bn integrated liquefied
natural gas (LNG) terminal at Katupalli near Chennai will come up by
December 2015 (BL)
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