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India Equity Research Reports, IPO and Stock News
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Economy News
4 While industrial output data shows a slowdown in the investment cycle
and industrial activity, headline inflation for February has risen to seven
per cent year-on-year (Y-o-Y), mainly driven by higher food prices. Though
core inflation is down to 5.5 per cent Y-o-Y from 6.5 per cent in January,
economists believe prices are not showing a meaningful downward trend,
which is essential for the central bank to begin its rate cut cycle. (BS)
4 The Indian aviation regulator will submit a report on troubled Kingfisher
Airlines in one to two days, Aviation Minister Ajit Singh told reporters on
Wednesday. Earlier in the day, the debt-crippled and cash-strapped carrier
said it will cut back its overseas flights as it looks to slash costs and attract
funding from wary bankers and sceptical investors. (ET)
4 Government plans to appoint an auctioneer within the next three months
for the third phase of FM radio frequency auction, a ministry official said
on Wednesday. (ET)
Corporate News
4 Tata Motors, the country's largest automobile manufacturer, has
stepped into the super-luxury inter-city bus segment with the launch of
the Tata Divo. This would make them the third player in the country in
this segment after Volvo and Mercedes. (BL)
4 Jaiprakash Power Ventures Ltd has planned to raise up to Rs 35 bn to
fund its expansion projects and is also entering cement manufacturing
activity. Its board of directors has authorised raising of funds / resources of
Rs 35 bn through various domestic / international options, including QIP /
ECB with conversion into shares/ FCCBs/ ADRs/ GDRs/ FPO/ Optionally or
Compulsorily Convertible Redeemable Preference Shares etc. (BL)
4 Japanese steel maker Kobe Steel Ltd will invest Rs 300 mn in Man
Industries (India) Ltd to pick up a minor stake in the Indian pipe maker.
Kobe will get 3.28 per cent stake in Man Industries for subscribing to
18,18,181 shares of Rs 5 each for Rs 165 a share on preferential basis. This
is at a premium of 37.5 per cent over the current market price of Man
Industries at Rs 120.10 a share. (BL)
4 The Bombay High Court today paved the way for the country's third stock
exchange, MCX-SX. In a 150-page judgment, it set aside the Securities
Exchange Board of India's (Sebi) order refusing permission to the
exchange for equity trading. (BS)
4 Tata group's retail arm Trent said it has raised nearly Rs 250 crore
through placement of shares with institutional investors. The company has
decided to close the QIP (Qualified Institutional Placement) and has
accorded its consent for the issue of 27,41,228 shares at a price of Rs 912
apiece for an aggregate value of Rs 2.5 bn, (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 While industrial output data shows a slowdown in the investment cycle
and industrial activity, headline inflation for February has risen to seven
per cent year-on-year (Y-o-Y), mainly driven by higher food prices. Though
core inflation is down to 5.5 per cent Y-o-Y from 6.5 per cent in January,
economists believe prices are not showing a meaningful downward trend,
which is essential for the central bank to begin its rate cut cycle. (BS)
4 The Indian aviation regulator will submit a report on troubled Kingfisher
Airlines in one to two days, Aviation Minister Ajit Singh told reporters on
Wednesday. Earlier in the day, the debt-crippled and cash-strapped carrier
said it will cut back its overseas flights as it looks to slash costs and attract
funding from wary bankers and sceptical investors. (ET)
4 Government plans to appoint an auctioneer within the next three months
for the third phase of FM radio frequency auction, a ministry official said
on Wednesday. (ET)
Corporate News
4 Tata Motors, the country's largest automobile manufacturer, has
stepped into the super-luxury inter-city bus segment with the launch of
the Tata Divo. This would make them the third player in the country in
this segment after Volvo and Mercedes. (BL)
4 Jaiprakash Power Ventures Ltd has planned to raise up to Rs 35 bn to
fund its expansion projects and is also entering cement manufacturing
activity. Its board of directors has authorised raising of funds / resources of
Rs 35 bn through various domestic / international options, including QIP /
ECB with conversion into shares/ FCCBs/ ADRs/ GDRs/ FPO/ Optionally or
Compulsorily Convertible Redeemable Preference Shares etc. (BL)
4 Japanese steel maker Kobe Steel Ltd will invest Rs 300 mn in Man
Industries (India) Ltd to pick up a minor stake in the Indian pipe maker.
Kobe will get 3.28 per cent stake in Man Industries for subscribing to
18,18,181 shares of Rs 5 each for Rs 165 a share on preferential basis. This
is at a premium of 37.5 per cent over the current market price of Man
Industries at Rs 120.10 a share. (BL)
4 The Bombay High Court today paved the way for the country's third stock
exchange, MCX-SX. In a 150-page judgment, it set aside the Securities
Exchange Board of India's (Sebi) order refusing permission to the
exchange for equity trading. (BS)
4 Tata group's retail arm Trent said it has raised nearly Rs 250 crore
through placement of shares with institutional investors. The company has
decided to close the QIP (Qualified Institutional Placement) and has
accorded its consent for the issue of 27,41,228 shares at a price of Rs 912
apiece for an aggregate value of Rs 2.5 bn, (BS)
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