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India Equity Research Reports, IPO and Stock News
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Economy News
4 India's finance minister unveiled a national budget Monday that surprised
markets with his aggressive plans to shrink the deficit, which has risen in
recent years. In doing so, Finance Minister Pranab Mukherjee dismissed
critics' assertions that India would fail to curb its budget deficit at 5.1% of
gross domestic product this year. But instead, he is reining in overall
government spending in his 12.58 trillion-rupee ($277.89 billion) budget
for the fiscal year beginning April 1, reflecting a spending increase of
3.4% from the current year. (Wall Street Journal)
4 Indian economy grew 8.2 per cent in the third quarter of current fiscal,
slower than an average of 8.9 per cent in the first two quarters. Economy
grew 8.8 per cent in the first quarter and 8.9 per cent in the second
quarter of fiscal 2010-11. The government's top statistical office has
projected 8.6 per cent growth for the whole fiscal. (ET)
4 State-run oil firms propose to raise petrol prices by up to Rs 4 a litre this
week to offset rising crude oil costs as the Budget has ignored their
demand to cut duties on the fuel. The government freed pricing of petrol
from its control in June last year, but the three state-run oil companies,
that control over 90% of domestic fuel retail market, informally consult
the ministry before revising petrol rates. (ET)
Corporate News
4 The government will infuse Rs 9bn as equity capital into two PSU lenders
-- Andhra Bank and Allahabad Bank -- as part of recapitalisation
package to shore up equity capital. (ET)
4 The Maharashtra revenue department has slapped Rs 2,236 mn notice to
television production house Balaji Telefilms for allegedly violating the
tax norms. (BS)
4 Tata Motors will unveil a new compact car, PIXEL based on its micro-car
Nano platform exclusively for the European market at the 81th Geneva
car show on Tuesday. The three door Gull Winged -(doors that open
towards the sky) small car currently at concept stage will be an
experimental model for the European market will come under the all
new brand. (ET)
4 Two leading public sector lenders Punjab National Bank (PNB) and
Bank of Baroda (BoB) raised fixed deposit rate up to 50 basis points
across select maturities, while mortgage lender HDFC hiked lending rate
by 25 basis points.Even after this revision, the peak rate on term deposit
will remain at 9.25% for maturity period of 1,111 days, PNB said in a
statement. (BS)
4 Director Technical, N C Jha will take over as the acting chairman of Coal
India (CIL) following retirement of Partha S Bhattacharyya on February
28. He will remain the acting chairman till such time a new chairman is
selected. (ET)
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
4 India's finance minister unveiled a national budget Monday that surprised
markets with his aggressive plans to shrink the deficit, which has risen in
recent years. In doing so, Finance Minister Pranab Mukherjee dismissed
critics' assertions that India would fail to curb its budget deficit at 5.1% of
gross domestic product this year. But instead, he is reining in overall
government spending in his 12.58 trillion-rupee ($277.89 billion) budget
for the fiscal year beginning April 1, reflecting a spending increase of
3.4% from the current year. (Wall Street Journal)
4 Indian economy grew 8.2 per cent in the third quarter of current fiscal,
slower than an average of 8.9 per cent in the first two quarters. Economy
grew 8.8 per cent in the first quarter and 8.9 per cent in the second
quarter of fiscal 2010-11. The government's top statistical office has
projected 8.6 per cent growth for the whole fiscal. (ET)
4 State-run oil firms propose to raise petrol prices by up to Rs 4 a litre this
week to offset rising crude oil costs as the Budget has ignored their
demand to cut duties on the fuel. The government freed pricing of petrol
from its control in June last year, but the three state-run oil companies,
that control over 90% of domestic fuel retail market, informally consult
the ministry before revising petrol rates. (ET)
Corporate News
4 The government will infuse Rs 9bn as equity capital into two PSU lenders
-- Andhra Bank and Allahabad Bank -- as part of recapitalisation
package to shore up equity capital. (ET)
4 The Maharashtra revenue department has slapped Rs 2,236 mn notice to
television production house Balaji Telefilms for allegedly violating the
tax norms. (BS)
4 Tata Motors will unveil a new compact car, PIXEL based on its micro-car
Nano platform exclusively for the European market at the 81th Geneva
car show on Tuesday. The three door Gull Winged -(doors that open
towards the sky) small car currently at concept stage will be an
experimental model for the European market will come under the all
new brand. (ET)
4 Two leading public sector lenders Punjab National Bank (PNB) and
Bank of Baroda (BoB) raised fixed deposit rate up to 50 basis points
across select maturities, while mortgage lender HDFC hiked lending rate
by 25 basis points.Even after this revision, the peak rate on term deposit
will remain at 9.25% for maturity period of 1,111 days, PNB said in a
statement. (BS)
4 Director Technical, N C Jha will take over as the acting chairman of Coal
India (CIL) following retirement of Partha S Bhattacharyya on February
28. He will remain the acting chairman till such time a new chairman is
selected. (ET)
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