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India Equity Research Reports, IPO and Stock News
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Economy News
Government data showed retail price inflation shot up to 9.47% in
March, compared with 8.83% in the previous month, primarily due to the
soaring rise in vegetable prices. While urban areas saw a steep rise in
inflation, 10.3% from 9.45% in Feb, in rural regions, consumer price index
(CPI)-based inflation rose to 8.79% from 8.36% in the previous month.
(BS)
The government has ordered state-run banks to lower lending rates
immediately. The direction from DK Mittal, secretary, financial services,
wrote to state-run banks chairman stating that direct lending to
agriculture has to be 13.5% and growth has to be 25% over 2011-12. (ET)
Though the India Meteorological Department (IMD) will come out with an
official forecast on monsoon in the next 10 days, the relatively cool
weather in March and April is raising uncertainty over the timely onset of
rains. (ET)
Corporate News
NSE will exclude ABG Shipyard and Bombay Rayon Fashions from its
futures and options segment from June 29. ABG Shipyard and Bombay
Rayon Fashions will also not be available for transactions in SLB segment
from June 29. (ET)
The valuation of Gujarat Gas, the BG Group company on the block,
depends on the outcome of the Petroleum and Natural Gas Regulatory
Board's decision on granting exclusivity rights for city gas distribution in its
operating areas. PNGRB recently awarded authorisation to the company
for city gas distribution under the regulations that require existing
players to seek its permission for their business. As a next stage, the
board is examining marketing exclusivity permission. (BS)
The Rs10bn plant being set up by VA Tech Wabag for the Chennai
Metropolitan Water Supply and Sewerage Board, achieved an important
milestone on April 16 when a km-long, 1.6-metre pipeline was launched
into the sea to take in over 300 mn litres of sea water a day. It is the
largest desalination plant in India and the largest contract for the
company expected to commence in September 2012. (BL)
Simbhaoli Sugars Ltd is setting up a 1,000 tonnes per day sugar
refinery in a joint venture with global agri-business group E D F & Man
Holdings near the Kandla Port. Both partners are initially investing Rs
689mn each in the joint venture. Location of the facility near the Kandla
port will eliminate transportation charges. (BL)
Perturbed by the tardy progress made by steelmakers, the Jharkhand
government is considering to cancel the MoUs it has entered into with
Ispat (now JSW Ispat) and Bhushan Steel for setting up steel projects in
the state. (ET)
Punj Lloyd has bagged a contract from Horizon Terminals, an Emirates
National Oil Company (ENOC) subsidiary, to build a bulk oil terminal. The
terminal inside the Jebel Ali Free Zone, along with a 60-km jet fuel
pipeline to the Dubai International Airport. ENOC is a wholly-owned
company of the Government of Dubai. The deal size was not specified.
(BL)
Having failed to get a response from the ministry of petroleum and
natural gas for nearly five months, Reliance Industries Ltd filed a plea
in the Supreme Court to seek the appointment of an arbitrator in its
dispute over the D6 block in the Krishna-Godavari basin. (BS)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
Government data showed retail price inflation shot up to 9.47% in
March, compared with 8.83% in the previous month, primarily due to the
soaring rise in vegetable prices. While urban areas saw a steep rise in
inflation, 10.3% from 9.45% in Feb, in rural regions, consumer price index
(CPI)-based inflation rose to 8.79% from 8.36% in the previous month.
(BS)
The government has ordered state-run banks to lower lending rates
immediately. The direction from DK Mittal, secretary, financial services,
wrote to state-run banks chairman stating that direct lending to
agriculture has to be 13.5% and growth has to be 25% over 2011-12. (ET)
Though the India Meteorological Department (IMD) will come out with an
official forecast on monsoon in the next 10 days, the relatively cool
weather in March and April is raising uncertainty over the timely onset of
rains. (ET)
Corporate News
NSE will exclude ABG Shipyard and Bombay Rayon Fashions from its
futures and options segment from June 29. ABG Shipyard and Bombay
Rayon Fashions will also not be available for transactions in SLB segment
from June 29. (ET)
The valuation of Gujarat Gas, the BG Group company on the block,
depends on the outcome of the Petroleum and Natural Gas Regulatory
Board's decision on granting exclusivity rights for city gas distribution in its
operating areas. PNGRB recently awarded authorisation to the company
for city gas distribution under the regulations that require existing
players to seek its permission for their business. As a next stage, the
board is examining marketing exclusivity permission. (BS)
The Rs10bn plant being set up by VA Tech Wabag for the Chennai
Metropolitan Water Supply and Sewerage Board, achieved an important
milestone on April 16 when a km-long, 1.6-metre pipeline was launched
into the sea to take in over 300 mn litres of sea water a day. It is the
largest desalination plant in India and the largest contract for the
company expected to commence in September 2012. (BL)
Simbhaoli Sugars Ltd is setting up a 1,000 tonnes per day sugar
refinery in a joint venture with global agri-business group E D F & Man
Holdings near the Kandla Port. Both partners are initially investing Rs
689mn each in the joint venture. Location of the facility near the Kandla
port will eliminate transportation charges. (BL)
Perturbed by the tardy progress made by steelmakers, the Jharkhand
government is considering to cancel the MoUs it has entered into with
Ispat (now JSW Ispat) and Bhushan Steel for setting up steel projects in
the state. (ET)
Punj Lloyd has bagged a contract from Horizon Terminals, an Emirates
National Oil Company (ENOC) subsidiary, to build a bulk oil terminal. The
terminal inside the Jebel Ali Free Zone, along with a 60-km jet fuel
pipeline to the Dubai International Airport. ENOC is a wholly-owned
company of the Government of Dubai. The deal size was not specified.
(BL)
Having failed to get a response from the ministry of petroleum and
natural gas for nearly five months, Reliance Industries Ltd filed a plea
in the Supreme Court to seek the appointment of an arbitrator in its
dispute over the D6 block in the Krishna-Godavari basin. (BS)
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