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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The department of pharmaceuticals has decided to abandon its
controversial "industry-friendly" proposal to cap retail prices of essential
medicines at the average price of the three best-selling brands and stick
with the cost of production as the parameter. (ET)
4 The auctioning of new FM radio licences has hit another wrong frequency.
The Information and Broadcasting Ministry sources say the Phase 3
auctions may now only begin by end of August. For radio stations keen on
tuning into newer towns, this comes as another setback to their expansion
plans.(BL)
4 In a rebuttal of states' allegations that the Centre did not keep its
commitment on compensating loss of Central Sales Tax revenue, the
finance ministry said it cannot go on dishing out money to states if they
were not willing to move ahead with the introduction of the Goods and
Services Tax (GST). (BS)
4 IMF chief Christine Lagarde cautioned that supply disruptions from Iran
could push global crude prices by up to 30%, at a time when the price is
hovering at $125 a barrel. (Mint)
4 In 2011-12, corporate debt aggregating a whopping Rs 762.5 bn came up
for restructuring before the Corporate Debt Rrestructuring Cell jointly
promoted by banks and financial institutions. This is three times more
than in the previous year, showing the growing stress on India Inc. As
many as 95 banks and financial institutions are part of the CDR
mechanism. (BL)
Corporate News
4 State Bank of India will permit home loan borrowers to shift to lower
interest rates. The move is aimed at strengthening customer bondage and
can also lead to gains for millions with mortgages if rivals match the
gesture. (ET)
4 Kingfisher Airlines got another reprieve, as the directorate general of
civil aviation (DGCA) decided not to suspend its operations. But the
regulator raised apprehensions about the troubled carrier's ability to stick
to the new flight schedule (BS)
4 Four states have slapped a fine of Rs 4 bn on the Reliance Power entity
setting up one of India's largest power projects at Krishnapatnam,
worsening troubles for a prestigious venture which has been in a limbo for
about nine months. (ET)
4 The much-awaited merger between Tech Mahindra and Mahindra
Satyam is happening finally, with the boards of the two companies
meeting today to finalise the details. The merger will create India's fifth
largest information technology services firm, with a combined revenue of
over Rs 100 bn. (BS)
4 Amtek India Ltd, part of the auto parts maker Amtek Group, is raising
$130 million through foreign currency convertible bonds (FCCBs), the third
time an Indian company has opted for this mode of funding in 2012. (Mint)
4 Faced with low freight rates and oversupply of vessels, Shipping
Corporation of India (SCI) is expected to cut on spends in financial year
2012-13. According to Budget estimates, it would spend Rs 21.29 bn in
2012-13 compared to Rs 28.50 bn spent last year. (BS)
4 PTC India Ltd, one of the promoters of the Indian Energy Exchange (IEX),
plans to sell part of its stake in the bourse, retaining a minority 5%, in line
with regulations. (Mint)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The department of pharmaceuticals has decided to abandon its
controversial "industry-friendly" proposal to cap retail prices of essential
medicines at the average price of the three best-selling brands and stick
with the cost of production as the parameter. (ET)
4 The auctioning of new FM radio licences has hit another wrong frequency.
The Information and Broadcasting Ministry sources say the Phase 3
auctions may now only begin by end of August. For radio stations keen on
tuning into newer towns, this comes as another setback to their expansion
plans.(BL)
4 In a rebuttal of states' allegations that the Centre did not keep its
commitment on compensating loss of Central Sales Tax revenue, the
finance ministry said it cannot go on dishing out money to states if they
were not willing to move ahead with the introduction of the Goods and
Services Tax (GST). (BS)
4 IMF chief Christine Lagarde cautioned that supply disruptions from Iran
could push global crude prices by up to 30%, at a time when the price is
hovering at $125 a barrel. (Mint)
4 In 2011-12, corporate debt aggregating a whopping Rs 762.5 bn came up
for restructuring before the Corporate Debt Rrestructuring Cell jointly
promoted by banks and financial institutions. This is three times more
than in the previous year, showing the growing stress on India Inc. As
many as 95 banks and financial institutions are part of the CDR
mechanism. (BL)
Corporate News
4 State Bank of India will permit home loan borrowers to shift to lower
interest rates. The move is aimed at strengthening customer bondage and
can also lead to gains for millions with mortgages if rivals match the
gesture. (ET)
4 Kingfisher Airlines got another reprieve, as the directorate general of
civil aviation (DGCA) decided not to suspend its operations. But the
regulator raised apprehensions about the troubled carrier's ability to stick
to the new flight schedule (BS)
4 Four states have slapped a fine of Rs 4 bn on the Reliance Power entity
setting up one of India's largest power projects at Krishnapatnam,
worsening troubles for a prestigious venture which has been in a limbo for
about nine months. (ET)
4 The much-awaited merger between Tech Mahindra and Mahindra
Satyam is happening finally, with the boards of the two companies
meeting today to finalise the details. The merger will create India's fifth
largest information technology services firm, with a combined revenue of
over Rs 100 bn. (BS)
4 Amtek India Ltd, part of the auto parts maker Amtek Group, is raising
$130 million through foreign currency convertible bonds (FCCBs), the third
time an Indian company has opted for this mode of funding in 2012. (Mint)
4 Faced with low freight rates and oversupply of vessels, Shipping
Corporation of India (SCI) is expected to cut on spends in financial year
2012-13. According to Budget estimates, it would spend Rs 21.29 bn in
2012-13 compared to Rs 28.50 bn spent last year. (BS)
4 PTC India Ltd, one of the promoters of the Indian Energy Exchange (IEX),
plans to sell part of its stake in the bourse, retaining a minority 5%, in line
with regulations. (Mint)
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