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Economy News
The Supreme Court recently termed all captive coal blocks allocated by
the government from 1993 to 2010 illegal. A verdict on their future is
likely this week. (BS)
Railways would come out with the Model Concession Agreement (MCA) in
a month, paving greater role for foreign direct investment and private
sector participation in rail modernisation and improving infrastructure
connectivity. (BS)
India's airlines will likely have to pay 20-25% more in premiums for
renewing the combined $30 billion of insurance cover on their fleet-the
consequence partly of two disasters that struck Malaysian Airlines. (Mint)
Corporate News
The Securities and Exchange Board of India (Sebi) has sought additional
information from Reliance Industries (RIL) on the takeover of
Network18 and TV18 Broadcast. (Mint)
Clarity on whether Reliance Power will go ahead with the proposal to
acquire Jaiprakash Power Ventures' hydro power portfolio will emerge
by September 25.(BL)
Vijaya Bank may postpone plans to raise funds for its tier 1 and tier 2
capital requirements as the market condition is not really conducive at
present. (BL)
Empee Sugars & Chemicals Ltd has initiated a new restructuring
process to bring all its power generation facilities under a single entity
within the group. (BL)
Hindustan Copper Ltd is set to form a joint venture with a domestic
player for entering into value-added products. (BL)
Health Canada has requested Ipca Laboratories to voluntarily stop
shipping active pharmaceutical ingredients (APIs) to Canada following
adverse observations by the US Food and Drug Administration, during its
inspection conducted in July. (ET)
Kohlberg Kravis Roberts and Co. (KKR) is set to launch a share sale that
could raise about $230 million as it exits Bharti Infratel six years after
investing, taking advantage of a sharp rebound in the valuations of the
telecom tower company.(ET)
Board of Directors of CESC Ltd would meet today for considering a
proposal for raising equity aggregating up to US $150 million on private
placement basis and on such terms and conditions as may be decided in
due course. (ET)
Financially stressed Bharati Shipyard Ltd has sold its wind power
business for Rs.550 mn to overcome the financial crisis and revive
operations. (Mint)
Five associates of State Bank of India (SBI) would raise about Rs.330 bn
capital to meet global risk norms-Basel III-in the next five years. (Mint)
Oil and Natural Gas Corp. Ltd's (ONGC) long-delayed mega
petrochemical plant at Dahej in Gujarat will be commissioned by June
next year but at 27% higher cost of Rs.271 bn. (Mint)
Punjab National Bank (PNB) plans to go for stock -split and also raise
capital to shore up its capital adequacy ratio. (BS)
Maruti Suzuki is working on a low-cost hybrid technology to make its
cheap-to-own cars even more frugal. (ET)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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Economy News
The Supreme Court recently termed all captive coal blocks allocated by
the government from 1993 to 2010 illegal. A verdict on their future is
likely this week. (BS)
Railways would come out with the Model Concession Agreement (MCA) in
a month, paving greater role for foreign direct investment and private
sector participation in rail modernisation and improving infrastructure
connectivity. (BS)
India's airlines will likely have to pay 20-25% more in premiums for
renewing the combined $30 billion of insurance cover on their fleet-the
consequence partly of two disasters that struck Malaysian Airlines. (Mint)
Corporate News
The Securities and Exchange Board of India (Sebi) has sought additional
information from Reliance Industries (RIL) on the takeover of
Network18 and TV18 Broadcast. (Mint)
Clarity on whether Reliance Power will go ahead with the proposal to
acquire Jaiprakash Power Ventures' hydro power portfolio will emerge
by September 25.(BL)
Vijaya Bank may postpone plans to raise funds for its tier 1 and tier 2
capital requirements as the market condition is not really conducive at
present. (BL)
Empee Sugars & Chemicals Ltd has initiated a new restructuring
process to bring all its power generation facilities under a single entity
within the group. (BL)
Hindustan Copper Ltd is set to form a joint venture with a domestic
player for entering into value-added products. (BL)
Health Canada has requested Ipca Laboratories to voluntarily stop
shipping active pharmaceutical ingredients (APIs) to Canada following
adverse observations by the US Food and Drug Administration, during its
inspection conducted in July. (ET)
Kohlberg Kravis Roberts and Co. (KKR) is set to launch a share sale that
could raise about $230 million as it exits Bharti Infratel six years after
investing, taking advantage of a sharp rebound in the valuations of the
telecom tower company.(ET)
Board of Directors of CESC Ltd would meet today for considering a
proposal for raising equity aggregating up to US $150 million on private
placement basis and on such terms and conditions as may be decided in
due course. (ET)
Financially stressed Bharati Shipyard Ltd has sold its wind power
business for Rs.550 mn to overcome the financial crisis and revive
operations. (Mint)
Five associates of State Bank of India (SBI) would raise about Rs.330 bn
capital to meet global risk norms-Basel III-in the next five years. (Mint)
Oil and Natural Gas Corp. Ltd's (ONGC) long-delayed mega
petrochemical plant at Dahej in Gujarat will be commissioned by June
next year but at 27% higher cost of Rs.271 bn. (Mint)
Punjab National Bank (PNB) plans to go for stock -split and also raise
capital to shore up its capital adequacy ratio. (BS)
Maruti Suzuki is working on a low-cost hybrid technology to make its
cheap-to-own cars even more frugal. (ET)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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