Visit http://indiaer.blogspot.com/ for complete details �� ��
News Round-up
The SEBI has joined the CBI to probe the possibility of insider trading in shares of at
least nine cos., including LIC Housing Finance (LICHF IN) & DB Realty (DBRL IN),
named by the investigator as involved in the scam. (ECNT)
The Life Insurance Corp. of India has sent to the finance ministry files relating to
investments in close to 40 cos. along with notings. The files were requisitioned by the
govt. some days before the CBI arrested the secretary in charge of investments at the
Corporation. (ECNT)
The Supreme Court dismissed a petition of Reliance Infrastructure (RELI IN) against its
disqualification from a USD 467 mn contract for toll collection on five entry points to
Mumbai. (BSTD)
Reliance Infrastructure (RELI IN) said it had added around 300 sub-stations and 450
kilometres of cable network to its Mumbai distribution to enhance its capacity to
reduce the demand-supply gap. (BSTD)
Cairn Energy Plc sought government permission under three production sharing
contracts to sell its stake in Cairn India (CAIR IN). (BSTD)
SBI (SBIN IN) chairman OP Bhatt has said that the bank will not go for another
overseas bonds issue soon & its USD 4.44bn rights issue will come up by March.
(ECNT)
L&T (LT IN) said it has received orders worth USD 229 mn for construction related
works. (BSTD)
Tata Steel (TATA IN) is looking at further acquisitions as it boosts capacity to meet
booming demand at home and overseas. (BSTD)
Wockhardt (WPL IN) said its business was not affected following a warning letter by
the US health regulator, USFDA, to its UK-based arm CP Pharmaceuticals and the
company is currently working to resolve the issue. (BSTD)
Tata Motors (TTMT IN) to launch CNG trucks next year. (FNLE)
Hindustan Zinc (HZ IN) has cut zinc prices by INR 3,300 a tonne and lead prices by INR
5,300 a tonne effective Thursday. (FNLE)
The Adani Group-promoted Mundra Port and Special Economic Zone Ltd (MPSEZL)
announced signing a sub-concession agreement with Hazira Port Pvt Ltd and the
State's port sector regulator, Gujarat Maritime Board, for development of a non-LNG
cargo facility at Hazira. (THBL)
Adani Wilmar is eyeing acquisitions in Uttar Pradesh to expand production capacity.
(BSTD)
Economy News
4 Food inflation fell for the sixth straight week to a three month low of
10.15%. Index for food articles rose 0.7% during the week ended
November 13, indicating that the decline in inflation is largely because of
the base effect, or the statistical impact of rising price index this time last
year. Inflation in food articles stood at 10.3% in the previous week. (ET)
4 The fertiliser ministry has sought an additional Rs 300bn to meet the
rising subsidy bill, bringing the government’s finances under stress. The
ministry has projected a revised demand of Rs 822bn as against the
budgeted Rs 528bn, citing hardening international prices of key inputs
and imported fertilisers. (ET)
4 The Communications and IT Minister, Mr Kapil Sibal, on Thursday said that
Mobile Number Portability will be launched in the entire country on
January 20, 2011. The service, which allows subscribers to retain their
phone numbers while changing their operator, was launched at Rohtak,
Haryana, on Thursday by the Minister. (BL)
4 Mr Pranab Mukherjee, on Thursday directed all public sector banks,
financial institutions and insurance firms to take a look at their exposures
to companies mentioned in the Central Bureau of Investigation's First
Information Report filed on Wednesday. These institutions have been
asked to carry out an independent evaluation on the asset quality,
documentation and compliance of other prudential requirements in the
companies under the CBI scanner. (BL)
Corporate News
4 The board of Kingfisher Airlines on Thursday approved converting
lenders’ debt of up to Rs 13.55 bn and the promoter-founders’ debt of Rs
6.5 bn into share capital. Under the debt restructuring package,
Kingfisher will sell 5.75 million shares to a consortium of lenders. It will
also sell 7.8 million of the 7.5 per cent convertible shares. (BS)
4 The Union government has threatened to cancel the coal block
allocations of four companies, including the country's largest power
generator, NTPC, and of Coal India Ltd itself, the largest mining firm
due to failure to develop blocks allotted years before, despite repeated
reminders. (BS)
4 State-run power generator NTPC proposes to invite tenders for power
generation equipment for all its upcoming gas-based projects that will
have a capacity of 10,000 mw, without waiting for assured supply of fuel,
to put pressure on the government to allocate natural gas for its
stranded plants. (ET)
4 GMR Malé International Airport Private Ltd (GMIAL), a subsidiary of GMR
Infrastructure Ltd (GIL), has achieved financial closure for the $511
million project to modernise, expand and operate the Malé International
Airport. (BL)
4 L&T has received orders worth Rs 10.30 bn for construction related works
through its buildings and factories operating division. (BS)
4 The Adani Group-promoted Mundra Port and Special Economic Zone
Ltd (MPSEZL) announced signing a sub-concession agreement with
Hazira Port Pvt Ltd and the State's port sector regulator, Gujarat
Maritime Board, for development of a non-LNG cargo facility at Hazira.
(BL)
4 SKS microfinance has come under the Insurance Regulatory
Development Authority’s scanner for violating norms in selling insurance
policies to its borrowers (BS)
No comments:
Post a Comment