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Economy News
The Reserve Bank said it will conduct open market operations (OMOs) on
Monday to sell government securities worth Rs 100bn. (ET)
Indian Railways reported an increase of 12.02 % in its total income during
the first six months of the current fiscal. (BS)
The Government has tightened the policy for new urea projects
undertaken by the private sector to keep out non-serious players. For
timely execution of the projects, it has now proposed that companies will
have to furnish a Rs3bn bank guarantee for each undertaking. (BL)
Corporate News
The consumer affairs ministry is considering legal action against Maruti
Suzuki for taking orders for its new sedan Ciaz even before publicly
displaying the car or revealing its technical specifications or price. (ET)
India plans to raise around 50 bn rupees this fiscal year by selling stakes in
companies including ITC, Larsen & Toubro and Axis Bank, a senior
official with knowledge of policymakers' discussions said. The sales could
be made through an exchange traded fund that could be launched before
the end of March, the official told. (ET)
The government of India will be signing a protocol agreement with Russia
with the objective of proceeding towards picking up stake in Russian
potash manufacturing company - Acron. To this effect, the Indian
government has formed a consortium of five public sector undertakings
led by NMDC, RCF, Krishak Bharti Cooperative, Fertiliser and Chemicals
Travancore and National Fertiliser Ltd. (BS)
Sources with direct knowledge share that Kesoram Industries has
decided to exit the tyre business. The deal is at an initial stage and experts
point out that the replacement value of Birla Tyre could be close to Rs
15bn which is higher than its parent company, Kesoram Industries' current
market capitalisation. (ET)
The US Congress seems to have gone on the offensive against 14 generic
drug manufacturers, including three top Indian firms - Sun
Pharmaceutical, Dr Reddy's Laboratories and Cadila Healthcare -
following an abnormal rise in prices of 10 generic medicines. (BS)
Bharat Heavy Electricals Ltd bagged a Rs 78bn contract for setting up a
1,320 MW thermal power project in Tamil Nadu. (ET)
DCB Bank has set issue price for its qualified institutional placement (QIP)
at Rs 82.15 per equity share, a discount of 4.9 per cent, to raise funds. (ET)
Hero MotoCorp launched two 100 cc motorcycles. The company launched
Splendor Pro Classic, which has a cafe racer styling, is priced at Rs48,650
and an on-road-off-road motorcycle Passion Pro TR at Rs51,550. (The
Hindu)
Zensar Technologies has signed a multimillion dollar deal with a UK high
street retailer focusing on upmarket retail customers. (Business Line)
Viceroy Hotels is looking to sell its entire 40% stake in the upcoming
Renaissance Hotel in Bangalore for around Rs1bn as it struggles to fund
the project, a person familiar with the development said. (ET)
BEML Limited said it has bagged an order worth Rs 5.7bn from Delhi
Metro Rail Corporation for the supply of 70 cars. (ET)
Future Lifestyle Fashions (FLFL) said its board has approved issue of
equity shares as well as compulsory convertible debentures (CCDs) on
preferential basis to raise nearly Rs 1.75 bn. (ET)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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Economy News
The Reserve Bank said it will conduct open market operations (OMOs) on
Monday to sell government securities worth Rs 100bn. (ET)
Indian Railways reported an increase of 12.02 % in its total income during
the first six months of the current fiscal. (BS)
The Government has tightened the policy for new urea projects
undertaken by the private sector to keep out non-serious players. For
timely execution of the projects, it has now proposed that companies will
have to furnish a Rs3bn bank guarantee for each undertaking. (BL)
Corporate News
The consumer affairs ministry is considering legal action against Maruti
Suzuki for taking orders for its new sedan Ciaz even before publicly
displaying the car or revealing its technical specifications or price. (ET)
India plans to raise around 50 bn rupees this fiscal year by selling stakes in
companies including ITC, Larsen & Toubro and Axis Bank, a senior
official with knowledge of policymakers' discussions said. The sales could
be made through an exchange traded fund that could be launched before
the end of March, the official told. (ET)
The government of India will be signing a protocol agreement with Russia
with the objective of proceeding towards picking up stake in Russian
potash manufacturing company - Acron. To this effect, the Indian
government has formed a consortium of five public sector undertakings
led by NMDC, RCF, Krishak Bharti Cooperative, Fertiliser and Chemicals
Travancore and National Fertiliser Ltd. (BS)
Sources with direct knowledge share that Kesoram Industries has
decided to exit the tyre business. The deal is at an initial stage and experts
point out that the replacement value of Birla Tyre could be close to Rs
15bn which is higher than its parent company, Kesoram Industries' current
market capitalisation. (ET)
The US Congress seems to have gone on the offensive against 14 generic
drug manufacturers, including three top Indian firms - Sun
Pharmaceutical, Dr Reddy's Laboratories and Cadila Healthcare -
following an abnormal rise in prices of 10 generic medicines. (BS)
Bharat Heavy Electricals Ltd bagged a Rs 78bn contract for setting up a
1,320 MW thermal power project in Tamil Nadu. (ET)
DCB Bank has set issue price for its qualified institutional placement (QIP)
at Rs 82.15 per equity share, a discount of 4.9 per cent, to raise funds. (ET)
Hero MotoCorp launched two 100 cc motorcycles. The company launched
Splendor Pro Classic, which has a cafe racer styling, is priced at Rs48,650
and an on-road-off-road motorcycle Passion Pro TR at Rs51,550. (The
Hindu)
Zensar Technologies has signed a multimillion dollar deal with a UK high
street retailer focusing on upmarket retail customers. (Business Line)
Viceroy Hotels is looking to sell its entire 40% stake in the upcoming
Renaissance Hotel in Bangalore for around Rs1bn as it struggles to fund
the project, a person familiar with the development said. (ET)
BEML Limited said it has bagged an order worth Rs 5.7bn from Delhi
Metro Rail Corporation for the supply of 70 cars. (ET)
Future Lifestyle Fashions (FLFL) said its board has approved issue of
equity shares as well as compulsory convertible debentures (CCDs) on
preferential basis to raise nearly Rs 1.75 bn. (ET)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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