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News Headlines
India Faces Pressure to Step Up Inflation Fight After Eighth Rate Increase (Bloomberg Finance LP)
India faces pressure to step up its battle against price gains even after the steepest interest-rate increases among Asia’s major economies, as oil costs rise and consumer demand strengthens.
RBI raises key rates by 25 bps; more tightening expected (Reuters)
The Reserve Bank of India (RBI) raised interest rates on Thursday for the eighth time since last March, in line with expectations, and warned both of inflationary pressures and emerging risks to growth.
RBI sets yield calculation method for 91-day tbill futures (Reuters)
The RBI announced the methodology to be used for calculating the weighted average discount yield for interest rates futures based on 91-day treasury bill.
Finance ministry blinks, agrees to 9.5% EPF rate (BS)
The finance ministry has given a gift to the 47.2 million Employees Provident Fund (EPF) subscribers. The ministry on Thursday cleared the proposal for paying 9.5 per cent interest on EPF deposits for 2010-11
RBI: NBFCs’ telecom tower loans can be considered infra loans (Reuters)
Credit for construction of telecom towers provided by non-banking financial companies (NBFCs) can now be categorised as infrastructure loans, said the Reserve Bank of India on Thursday after amending its definition of infrastructure loans.
Higher subsidies may pressure govt expenses (Reuters)
The RBI said on Thursday a potential increase in subsidies on petroleum products due to high global oil prices could put pressure on government spending.
BPCL buys April diesel cargo at high premium (Reuters)
State-run Bharat Petroleum Corp (BPCL) has bought only one of the four diesel cargoes it was seeking via tender for April delivery at a very high premium as traders instead target more lucrative sales to quake-hit Japan.
Hindustan Composites sells Jalna unit for 58.3 mln rupees (Reuters)
Hindustan Composites Ltd on Thursday sold its Jalna unit for 58.3 million rupees to Spitmaan Group of Cos, the company said in a statement to the exchange.
Cabinet approves SBI amendment bill (Reuters)
The cabinet on Thursday approved a bill to amend laws governing the State Bank of India, the country’s largest lender, an official said.
Reliance Industries, GAIL sign gas swap deal (Reuters)
Reliance Industries and GAIL (India) signed a gas swap deal to fuel power plants in the country’s south, a move that could curb power deficit in peak summer and overcome pipeline constraints.
Power Finance board OKs draft prospectus for share sale (Reuters)
Power Fin. Corp said its board has approved the draft prospectus for a share sale.
NALCO says pays 4.76 bln rupees advance tax for 2010/11 (Reuters)
State-run National Aluminium Co said on Thursday it had paid advance tax of 4.76 billion rupees ($105 million) for the 2010/11 fiscal that ends in March, higher than 2.95 billion rupees it paid for the previous fiscal year.
HCL Tech ties up with 2 firms for smart grid expansion (Reuters)
Indian software services firm HCL Technologies said it tied up with data management software firms eMeter and Tridium to expand into the smart grid market.
Bharti Airtel adds 3.2 mln mobile users in Feb – industry body (Reuters)
Bharti Airtel, India’s top mobile carrier, signed up 3.2 million mobile users in February, taking its total to about 159 million, data released by an industry body showe.
Japan Restraint on Yen Intervention Threatens Deeper Slump as G7 Confers (Bloomberg Finance LP)
Japanese policy makers, battling their country’s worst crisis since World War II, may need to move faster to weaken the yen and shore up stocks if they are to avoid a deeper economic slump.
Index of Leading Economic Indicators in the U.S. Rises 0.8% (Bloomberg)
The index of U.S. leading indicators rose in Feb., the eighth consecutive gain and a sign supporting the Fed. Reserve’s statement that the recovery has gained traction.
Spain Sells Bonds in First Test of Confidence in Rescue Fund: Euro Credit (Bloomberg)
Spain sold bonds today in the first test of whether Europe’s efforts to boost the firepower of its rescue fund are persuading investors to become more discriminating about which countries will avoid bailouts.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News Headlines
India Faces Pressure to Step Up Inflation Fight After Eighth Rate Increase (Bloomberg Finance LP)
India faces pressure to step up its battle against price gains even after the steepest interest-rate increases among Asia’s major economies, as oil costs rise and consumer demand strengthens.
RBI raises key rates by 25 bps; more tightening expected (Reuters)
The Reserve Bank of India (RBI) raised interest rates on Thursday for the eighth time since last March, in line with expectations, and warned both of inflationary pressures and emerging risks to growth.
RBI sets yield calculation method for 91-day tbill futures (Reuters)
The RBI announced the methodology to be used for calculating the weighted average discount yield for interest rates futures based on 91-day treasury bill.
Finance ministry blinks, agrees to 9.5% EPF rate (BS)
The finance ministry has given a gift to the 47.2 million Employees Provident Fund (EPF) subscribers. The ministry on Thursday cleared the proposal for paying 9.5 per cent interest on EPF deposits for 2010-11
RBI: NBFCs’ telecom tower loans can be considered infra loans (Reuters)
Credit for construction of telecom towers provided by non-banking financial companies (NBFCs) can now be categorised as infrastructure loans, said the Reserve Bank of India on Thursday after amending its definition of infrastructure loans.
Higher subsidies may pressure govt expenses (Reuters)
The RBI said on Thursday a potential increase in subsidies on petroleum products due to high global oil prices could put pressure on government spending.
BPCL buys April diesel cargo at high premium (Reuters)
State-run Bharat Petroleum Corp (BPCL) has bought only one of the four diesel cargoes it was seeking via tender for April delivery at a very high premium as traders instead target more lucrative sales to quake-hit Japan.
Hindustan Composites sells Jalna unit for 58.3 mln rupees (Reuters)
Hindustan Composites Ltd on Thursday sold its Jalna unit for 58.3 million rupees to Spitmaan Group of Cos, the company said in a statement to the exchange.
Cabinet approves SBI amendment bill (Reuters)
The cabinet on Thursday approved a bill to amend laws governing the State Bank of India, the country’s largest lender, an official said.
Reliance Industries, GAIL sign gas swap deal (Reuters)
Reliance Industries and GAIL (India) signed a gas swap deal to fuel power plants in the country’s south, a move that could curb power deficit in peak summer and overcome pipeline constraints.
Power Finance board OKs draft prospectus for share sale (Reuters)
Power Fin. Corp said its board has approved the draft prospectus for a share sale.
NALCO says pays 4.76 bln rupees advance tax for 2010/11 (Reuters)
State-run National Aluminium Co said on Thursday it had paid advance tax of 4.76 billion rupees ($105 million) for the 2010/11 fiscal that ends in March, higher than 2.95 billion rupees it paid for the previous fiscal year.
HCL Tech ties up with 2 firms for smart grid expansion (Reuters)
Indian software services firm HCL Technologies said it tied up with data management software firms eMeter and Tridium to expand into the smart grid market.
Bharti Airtel adds 3.2 mln mobile users in Feb – industry body (Reuters)
Bharti Airtel, India’s top mobile carrier, signed up 3.2 million mobile users in February, taking its total to about 159 million, data released by an industry body showe.
Japan Restraint on Yen Intervention Threatens Deeper Slump as G7 Confers (Bloomberg Finance LP)
Japanese policy makers, battling their country’s worst crisis since World War II, may need to move faster to weaken the yen and shore up stocks if they are to avoid a deeper economic slump.
Index of Leading Economic Indicators in the U.S. Rises 0.8% (Bloomberg)
The index of U.S. leading indicators rose in Feb., the eighth consecutive gain and a sign supporting the Fed. Reserve’s statement that the recovery has gained traction.
Spain Sells Bonds in First Test of Confidence in Rescue Fund: Euro Credit (Bloomberg)
Spain sold bonds today in the first test of whether Europe’s efforts to boost the firepower of its rescue fund are persuading investors to become more discriminating about which countries will avoid bailouts.
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