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Economy News
4 Reserve Bank of India (RBI) deputy governor Subir Gokarn said liquidity
infusion through open market operations (OMOs) could not resolve the
deficit problem, adding there was still room for reduction in the cash
reserve ratio. (BS)
4 The Union government has scrapped its plan to promote Ultra Mega Steel
Plants (UMSPs). Each plant was expected to have a capacity of 10 mtpa.
(BS)
4 The information and broadcasting ministry has agreed to vacate spectrum
in the 700-MHz band, which the department of telecommunications (DoT)
plans to auction to telecom players for providing wireless broadband
services, or 4G. (BS)
4 Cement prices are expected to rule firm in the coming months due to rise
in input costs and manufacturing expenses, according to Centre for
Monitoring Indian Economy (CMIE). (ET)
4 The central government banned cotton export, amid fear its prices would
shoot up on account of declining production in the current season. (BS)
Corporate News
4 Lupin Ltd has received the U.S. Food and Drug Administration's approval
for the generic version of Geodon capsules used to treat schizophrenia,
the drugmaker said. The Geodon brand, owned by Pfizer Inc, had annual
sales of $1.35 bn in the United States in 2011, Lupin said. (ET)
4 Businesses of Sesa Sterlite, the new entity announced by Vedanta
Resources for its India operations, will generate annual surplus of USD 7-8
billion, Group Chairman Anil Agarwal has said. (ET)
4 The Oil Ministry is likely to refer Reliance Industries' demand for an
increase in price of natural gas it produces from eastern offshore KG-D6
fields to the Law Ministry. "We will take an opinion of the Law Ministry
before proceeding on the issue," an Oil Ministry official said here. (ET)
4 Iran's biggest Indian Oil client, Mangalore Refinery and Petrochemicals
Ltd (MRPL) , plans to cut its annual import deal with Tehran by as much as
44 percent to 80,000 barrels per day (bpd) in 2012/13. (ET)
4 Wheels India, supplier to vehicles including cars, trucks and tractors will
invest over Rs 700 Mn this year on expansion. (ET)
4 Tata Power formed a joint venture with a South African mining company,
Exxaro. The 50:50 joint venture will be called Cennergi (Pty) and will look
for electricity generating opportunities across South Africa, Botswana and
Namibia. (BS)
4 Aditya Birla Group firm Novelis said it is selling three aluminium foil
manufacturing plants in Europe to American Industrial Acquisition Corp
(AIAC) for an undisclosed sum. The three plants assets are based in France,
Luxembourg and Berlin, Novelis, a subsidiary of Hindalco Industries said.
(BS)
4 Telecom equipment maker Kavveri Telecom raised the investment limit
for foreign institutional investors (FII) to 35% in the company's paid-up
value of the convertible debentures. (BS)
4 Axis Bank said it has raised $500 million through bonds to fund its
overseas expansion. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 Reserve Bank of India (RBI) deputy governor Subir Gokarn said liquidity
infusion through open market operations (OMOs) could not resolve the
deficit problem, adding there was still room for reduction in the cash
reserve ratio. (BS)
4 The Union government has scrapped its plan to promote Ultra Mega Steel
Plants (UMSPs). Each plant was expected to have a capacity of 10 mtpa.
(BS)
4 The information and broadcasting ministry has agreed to vacate spectrum
in the 700-MHz band, which the department of telecommunications (DoT)
plans to auction to telecom players for providing wireless broadband
services, or 4G. (BS)
4 Cement prices are expected to rule firm in the coming months due to rise
in input costs and manufacturing expenses, according to Centre for
Monitoring Indian Economy (CMIE). (ET)
4 The central government banned cotton export, amid fear its prices would
shoot up on account of declining production in the current season. (BS)
Corporate News
4 Lupin Ltd has received the U.S. Food and Drug Administration's approval
for the generic version of Geodon capsules used to treat schizophrenia,
the drugmaker said. The Geodon brand, owned by Pfizer Inc, had annual
sales of $1.35 bn in the United States in 2011, Lupin said. (ET)
4 Businesses of Sesa Sterlite, the new entity announced by Vedanta
Resources for its India operations, will generate annual surplus of USD 7-8
billion, Group Chairman Anil Agarwal has said. (ET)
4 The Oil Ministry is likely to refer Reliance Industries' demand for an
increase in price of natural gas it produces from eastern offshore KG-D6
fields to the Law Ministry. "We will take an opinion of the Law Ministry
before proceeding on the issue," an Oil Ministry official said here. (ET)
4 Iran's biggest Indian Oil client, Mangalore Refinery and Petrochemicals
Ltd (MRPL) , plans to cut its annual import deal with Tehran by as much as
44 percent to 80,000 barrels per day (bpd) in 2012/13. (ET)
4 Wheels India, supplier to vehicles including cars, trucks and tractors will
invest over Rs 700 Mn this year on expansion. (ET)
4 Tata Power formed a joint venture with a South African mining company,
Exxaro. The 50:50 joint venture will be called Cennergi (Pty) and will look
for electricity generating opportunities across South Africa, Botswana and
Namibia. (BS)
4 Aditya Birla Group firm Novelis said it is selling three aluminium foil
manufacturing plants in Europe to American Industrial Acquisition Corp
(AIAC) for an undisclosed sum. The three plants assets are based in France,
Luxembourg and Berlin, Novelis, a subsidiary of Hindalco Industries said.
(BS)
4 Telecom equipment maker Kavveri Telecom raised the investment limit
for foreign institutional investors (FII) to 35% in the company's paid-up
value of the convertible debentures. (BS)
4 Axis Bank said it has raised $500 million through bonds to fund its
overseas expansion. (BS)
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