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News This Week
Economics
Wholesale index for food articles rose 10.1% for the week to August 18 from
a year earlier vs. 9.8% the previous week. – Media
India's merchandise exports surged by 81.79% in July, to US$29.34bn, while
imports for the month climbed by 51.52% to US$40.42bn. - Media
Cumulative rainfall was excess/normal in 32 and deficient/scanty in 4 of 36
meteorological sub-divisions, with overall rainfall above 1% of LPA. - Media
Corporate
Domestic PV sales continued to show a downtrend, with a decline of around
8% in sales last month at 178,442 units, as compared to the 193,371
vehicles during the corresponding period last year. While Maruti posted a
decline of 17%, M&M posted a growth of 14% in PV sales. – Media
Hero MotoCorp reported 18.6% jump in its August sales at 503,654 units. On
the other hand, Bajaj Auto recorded 16% growth at 382,379 units. - Media
Maruti has decided to bring forward the launch of its 2nd Manesar plant and
start production in the 1st week of September, instead of by the month-end,
as planned earlier. - Media
Lupin has received approval from the USFDA to market Tramadol
Hydrochloride Extended Release Tablets, used to treat chronic pain in
adults, in the American market. -- Media
BGR Energy Systems has bagged a Rs4.4bn order from Nuclear Power
Corporation of India. – Media
Tata Chemicals’ UK-based subsidiary has signed an agreement to acquire a
30.6% stake in Canadian potash miner EPM Mining Ventures. - Media
DRL made 2 key announcements 1) Launch of Allegra D24 OTC version,
and 2) Settlement paving way for launch of generic Lipitor. - Media
State-run NALCO has raised aluminium prices by Rs2,000 per tonne ($43.6)
across all products. – Media
M&M plans to launch a new sport utility vehicle (SUV) in India and South
Africa by end-2011. – Media
Lanco Infratech’s Australian unit, Griffin Coal, has terminated a coal supply
pact with Australia’s Perdaman Chemicals and Fertilisers, as the latter failed
to meet a condition to achieve financial closure. – Media
Tata Group chairman Ratan Tata said holding company Tata Sons would
increase its holdings in several group companies. - Media
RPower has got a Rs400 crore loan from the US Export-Import Bank for a
40-MW solar plant being set up in Rajasthan. – Media
New telecom operator S Tel has accused Tech Mahindra of discontinuing
services abruptly without any prior intimation and has sought the Telecom
Ministry's intervention to resolve the issue. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Aug 29 – Sept 2, 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
News This Week
Economics
Wholesale index for food articles rose 10.1% for the week to August 18 from
a year earlier vs. 9.8% the previous week. – Media
India's merchandise exports surged by 81.79% in July, to US$29.34bn, while
imports for the month climbed by 51.52% to US$40.42bn. - Media
Cumulative rainfall was excess/normal in 32 and deficient/scanty in 4 of 36
meteorological sub-divisions, with overall rainfall above 1% of LPA. - Media
Corporate
Domestic PV sales continued to show a downtrend, with a decline of around
8% in sales last month at 178,442 units, as compared to the 193,371
vehicles during the corresponding period last year. While Maruti posted a
decline of 17%, M&M posted a growth of 14% in PV sales. – Media
Hero MotoCorp reported 18.6% jump in its August sales at 503,654 units. On
the other hand, Bajaj Auto recorded 16% growth at 382,379 units. - Media
Maruti has decided to bring forward the launch of its 2nd Manesar plant and
start production in the 1st week of September, instead of by the month-end,
as planned earlier. - Media
Lupin has received approval from the USFDA to market Tramadol
Hydrochloride Extended Release Tablets, used to treat chronic pain in
adults, in the American market. -- Media
BGR Energy Systems has bagged a Rs4.4bn order from Nuclear Power
Corporation of India. – Media
Tata Chemicals’ UK-based subsidiary has signed an agreement to acquire a
30.6% stake in Canadian potash miner EPM Mining Ventures. - Media
DRL made 2 key announcements 1) Launch of Allegra D24 OTC version,
and 2) Settlement paving way for launch of generic Lipitor. - Media
State-run NALCO has raised aluminium prices by Rs2,000 per tonne ($43.6)
across all products. – Media
M&M plans to launch a new sport utility vehicle (SUV) in India and South
Africa by end-2011. – Media
Lanco Infratech’s Australian unit, Griffin Coal, has terminated a coal supply
pact with Australia’s Perdaman Chemicals and Fertilisers, as the latter failed
to meet a condition to achieve financial closure. – Media
Tata Group chairman Ratan Tata said holding company Tata Sons would
increase its holdings in several group companies. - Media
RPower has got a Rs400 crore loan from the US Export-Import Bank for a
40-MW solar plant being set up in Rajasthan. – Media
New telecom operator S Tel has accused Tech Mahindra of discontinuing
services abruptly without any prior intimation and has sought the Telecom
Ministry's intervention to resolve the issue. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Aug 29 – Sept 2, 2011.
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