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India Equity Research Reports, IPO and Stock News
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Economy News
4 The government decision to ban export of milk powder and its derivative
casein to rein in rising prices in the domestic market will result in a loss of
around Rs.5 bn to exporters of milk products (ET).
4 Foreign banks operating in India have demanded that their wholly-owned
subsidiaries should be treated on a par with domestic banks where
foreign investment is more than 51% (ET).
4 India's exports to Latin America have doubled in the first half of the
current fiscal compared to the previous year while shipments to African
countries have increased almost by half (ET).
Corporate News
4 Reliance Industries group is negotiating with Japans Orix Corporation
to acquire its 23.87% stake in Infrastructure Leasing & Financial Services
(IL&FS ) (ET).
4 Hero Investments, part of the Hero Group, will pledge its shares in Hero
Honda with institutional investors to raise about Rs.35 bn in short-term
debt to buy Honda Motors stake in their joint venture (ET).
4 Niko Resources and Hardy Oil and Gas have given no-objection to their
partner Reliance Industries for selling 30% stake in oil and gas blocks
like eastern offshore KG-D 6 to London-based BP (ET).
4 Reliance Power has emerged as the front runner among six short-listed
entities for a tender floated by Uttar Pradesh Power Corporation
(UPPCL) to buy 3,000 megawatt of power for 25 years (ET).
4 NMDC is planning to set up a beneficiation facility to convert the huge
low grade dumps at Donimalai mine in Karnataka into high grade iron
ore. The project, to come up in the next 24-30 months, will involve an
investment of Rs 1.5 bn (BS).
4 Reliance Broadcast Network Ltd, a part of Anil Ambani-led ADA
Group, is in the process of launching television channels in neighbouring
countries such as Nepal, Bangladesh, Pakistan, Bhutan, Sri Lanka and
Maldives (BS).
4 Marg Properties, the residential arm of Chennai-based infrastructure and
real estate development firm Marg Ltd, has announced plans to set up
retail shops in Chennai and Puducherry (BS).
4 Coal India has raised prices by an average 12% for some of its
consumers from Sunday,boosting its revenue by Rs.60 bn a year (BS).
News Round-up
The Indian economy will grow at 9% in 2011-12; if nothing goes wrong.(THBL SAT)
Auto industry fears tariff cut on free trade agreement (FTA) talks. Government says
move will make India global hub of manufacturing. (BSTD-Sun)
The US govt.'s proposal to reduce healthcare costs for American consumers by
cutting the data exclusivity period for patented biotech medicines will allow low-cost
Indian drugmakers to tap a lucrative segment in the world's largest drug market.
(ECNT-Sat)
Hero Investments, part of the Brijmohan Lall Munjal led Hero Group, will pledge its
shares in Hero Honda (HH IN) with institutional investors to raise about USD
777.77mn in short term debt to buy Honda Motor's stake in their JV. (ECNT)
Maruti Suzuki India (MSIL IN) was expecting sales revenue to grow over 25% to
nearly USD 8.35 bn in the current financial year on the back of robust sales. (BSTD)
Bharti Airtel (BHARTI IN) announced the launch of a speech recognition-based service
in partnership with Nuance Communications at a price of INR 2 per minute. (BSTD)
Reliance Power (RPWR IN) will soon enter into a power purchase agreement (PPA)
with the Uttar Pradesh government for 2456 Mw. This will help the company fast
track its 3,960 Mw Chitrangi power project near Sasan in Madhya Pradesh. Under
the power purchase agreement, the company has to begin supply within 48 hours or
by 2014. (BSTD-Sun)
Reliance Power (RPWR IN) has emerged as the front runner among six short-listed
entities for a tender floated by Uttar Pradesh Power Corp. to buy 3000mw of power
for 25 years, starting 2014. (ECNT)
Educomp Solutions (EDSL IN) picked up a majority stake in test preparation company
Gateforum Educational Services. (BSTD-Sat)
Infosys Tech. (INFO IN) is facing tax & visa fraud charges in the top market for
software exports after an employee filed a case against the company. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 The government decision to ban export of milk powder and its derivative
casein to rein in rising prices in the domestic market will result in a loss of
around Rs.5 bn to exporters of milk products (ET).
4 Foreign banks operating in India have demanded that their wholly-owned
subsidiaries should be treated on a par with domestic banks where
foreign investment is more than 51% (ET).
4 India's exports to Latin America have doubled in the first half of the
current fiscal compared to the previous year while shipments to African
countries have increased almost by half (ET).
Corporate News
4 Reliance Industries group is negotiating with Japans Orix Corporation
to acquire its 23.87% stake in Infrastructure Leasing & Financial Services
(IL&FS ) (ET).
4 Hero Investments, part of the Hero Group, will pledge its shares in Hero
Honda with institutional investors to raise about Rs.35 bn in short-term
debt to buy Honda Motors stake in their joint venture (ET).
4 Niko Resources and Hardy Oil and Gas have given no-objection to their
partner Reliance Industries for selling 30% stake in oil and gas blocks
like eastern offshore KG-D 6 to London-based BP (ET).
4 Reliance Power has emerged as the front runner among six short-listed
entities for a tender floated by Uttar Pradesh Power Corporation
(UPPCL) to buy 3,000 megawatt of power for 25 years (ET).
4 NMDC is planning to set up a beneficiation facility to convert the huge
low grade dumps at Donimalai mine in Karnataka into high grade iron
ore. The project, to come up in the next 24-30 months, will involve an
investment of Rs 1.5 bn (BS).
4 Reliance Broadcast Network Ltd, a part of Anil Ambani-led ADA
Group, is in the process of launching television channels in neighbouring
countries such as Nepal, Bangladesh, Pakistan, Bhutan, Sri Lanka and
Maldives (BS).
4 Marg Properties, the residential arm of Chennai-based infrastructure and
real estate development firm Marg Ltd, has announced plans to set up
retail shops in Chennai and Puducherry (BS).
4 Coal India has raised prices by an average 12% for some of its
consumers from Sunday,boosting its revenue by Rs.60 bn a year (BS).
News Round-up
The Indian economy will grow at 9% in 2011-12; if nothing goes wrong.(THBL SAT)
Auto industry fears tariff cut on free trade agreement (FTA) talks. Government says
move will make India global hub of manufacturing. (BSTD-Sun)
The US govt.'s proposal to reduce healthcare costs for American consumers by
cutting the data exclusivity period for patented biotech medicines will allow low-cost
Indian drugmakers to tap a lucrative segment in the world's largest drug market.
(ECNT-Sat)
Hero Investments, part of the Brijmohan Lall Munjal led Hero Group, will pledge its
shares in Hero Honda (HH IN) with institutional investors to raise about USD
777.77mn in short term debt to buy Honda Motor's stake in their JV. (ECNT)
Maruti Suzuki India (MSIL IN) was expecting sales revenue to grow over 25% to
nearly USD 8.35 bn in the current financial year on the back of robust sales. (BSTD)
Bharti Airtel (BHARTI IN) announced the launch of a speech recognition-based service
in partnership with Nuance Communications at a price of INR 2 per minute. (BSTD)
Reliance Power (RPWR IN) will soon enter into a power purchase agreement (PPA)
with the Uttar Pradesh government for 2456 Mw. This will help the company fast
track its 3,960 Mw Chitrangi power project near Sasan in Madhya Pradesh. Under
the power purchase agreement, the company has to begin supply within 48 hours or
by 2014. (BSTD-Sun)
Reliance Power (RPWR IN) has emerged as the front runner among six short-listed
entities for a tender floated by Uttar Pradesh Power Corp. to buy 3000mw of power
for 25 years, starting 2014. (ECNT)
Educomp Solutions (EDSL IN) picked up a majority stake in test preparation company
Gateforum Educational Services. (BSTD-Sat)
Infosys Tech. (INFO IN) is facing tax & visa fraud charges in the top market for
software exports after an employee filed a case against the company. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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