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Economy News
The Telecom Regulatory Authority of India (TRAI) has proposed that the
powers to issue licences to telecom companies would be brought under its
purview. (BL)
Inflation eased marginally to 6.89 per cent in March, following some
moderation in the prices of manufactured products. The wholesale price
index (WPI)-based inflation was 6.95 per cent in February 2012. It was
9.68 per cent in March 2011. (BL)
The decision on export of another million tonne of sugar gets delayed as
differences between ministries of the food and agriculture delay
notification of the decision. (BS)
Corporate News
Coal India Limited has agreed to sign fuel-supply agreements (FSAs)
with some 50 thermal power units commissioned between April 2009
and December 2011. (BL)
Tata Motors sale of vehicles rose 16 percent in FY12. Cumulative sales
were over 12 lakh units for the year. The global wholesale numbers for
March stood at 1,39,655, higher by 26 per cent over March 2011. (BL)
ABB will invest Rs 250 crore to build new facilities in India to manufacture
high-voltage power products and transformers. (BL)
The ailing Kingfisher is in talks with GMR Group on payment schedule
for outstanding dues. The airline had agreed upon a schedule earlier but
could not follow it. (BL)
Gammon India Ltd, IVRCL, Simplex Infrastructure Ltd and L&T Ltd
are among the twenty two firms which have qualified for the Eastern
dedicated freight corridor for track work from New Karwandiya to
Durgawati section. (BL)
Essel Group has said that it does not intend to hike its stake in IVRCL Ltd
from 12.27 percent. This announcement has ended speculations of a
hostile bid. (BL)
Piramal Healthcare has signed an agreement with Bayer to acquire the
worldwide rights of the latter's molecular imaging research and
development portfolio. The company did not give the deal amount. (BL)
The residual stake sale in Hindustan Zinc Ltd and Bharat Aluminium Co
Ltd (Balco) is unlikely to happen soon, with the government deciding to
tread cautiously keeping in mind the high stakes and the litigation
process involved. (BS)
Essar Oil which is about to come out of its Rs 90 bn-crore corporate debt
restructuring (CDR) exercise at the end of this month, the company is
planning to take another bold step by taking on additional debt of Rs 63
bn from SBI for six years at 12.25% p. a. (BS).
The Utkal Alumina project, a 1.5 million tonne per annum (mtpa) alumina
refinery plant being set up by Hindalco Industries at Kashipur in south
Odisha's Rayagada district, is set to go into production by December this
year. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
The Telecom Regulatory Authority of India (TRAI) has proposed that the
powers to issue licences to telecom companies would be brought under its
purview. (BL)
Inflation eased marginally to 6.89 per cent in March, following some
moderation in the prices of manufactured products. The wholesale price
index (WPI)-based inflation was 6.95 per cent in February 2012. It was
9.68 per cent in March 2011. (BL)
The decision on export of another million tonne of sugar gets delayed as
differences between ministries of the food and agriculture delay
notification of the decision. (BS)
Corporate News
Coal India Limited has agreed to sign fuel-supply agreements (FSAs)
with some 50 thermal power units commissioned between April 2009
and December 2011. (BL)
Tata Motors sale of vehicles rose 16 percent in FY12. Cumulative sales
were over 12 lakh units for the year. The global wholesale numbers for
March stood at 1,39,655, higher by 26 per cent over March 2011. (BL)
ABB will invest Rs 250 crore to build new facilities in India to manufacture
high-voltage power products and transformers. (BL)
The ailing Kingfisher is in talks with GMR Group on payment schedule
for outstanding dues. The airline had agreed upon a schedule earlier but
could not follow it. (BL)
Gammon India Ltd, IVRCL, Simplex Infrastructure Ltd and L&T Ltd
are among the twenty two firms which have qualified for the Eastern
dedicated freight corridor for track work from New Karwandiya to
Durgawati section. (BL)
Essel Group has said that it does not intend to hike its stake in IVRCL Ltd
from 12.27 percent. This announcement has ended speculations of a
hostile bid. (BL)
Piramal Healthcare has signed an agreement with Bayer to acquire the
worldwide rights of the latter's molecular imaging research and
development portfolio. The company did not give the deal amount. (BL)
The residual stake sale in Hindustan Zinc Ltd and Bharat Aluminium Co
Ltd (Balco) is unlikely to happen soon, with the government deciding to
tread cautiously keeping in mind the high stakes and the litigation
process involved. (BS)
Essar Oil which is about to come out of its Rs 90 bn-crore corporate debt
restructuring (CDR) exercise at the end of this month, the company is
planning to take another bold step by taking on additional debt of Rs 63
bn from SBI for six years at 12.25% p. a. (BS).
The Utkal Alumina project, a 1.5 million tonne per annum (mtpa) alumina
refinery plant being set up by Hindalco Industries at Kashipur in south
Odisha's Rayagada district, is set to go into production by December this
year. (BS)
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