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India Equity Research Reports, IPO and Stock News
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Economy News
Industrial production growth slowed to 4.1% in February compared to
6.7% expansion in the previous year-ago month. The government also
sharply revised the January production number to 1.1% growth from the
previously reported 6.8% expansion and attributed it "incorrect
reporting" of sugar production data for January (ET).
The government has approved the adoption of ad-valorem regime for
charging royalty on coal and lignite at 14% and 6% respectively (ET).
Corporate News
Suzlon Energy, which urgently needs to repay $569 million to
bondholders by October,has begun talks with key banks for raising
money. Suzlon is believed to have sounded out some banks such as SBI,
Bank of India, Bank of Baroda, Central Bank, Canara Bank and IDBI for a
term loan of $700 million in FY13 (ET).
Trafigura,the worlds third-largest independent oil trader, will invest Rs6.5
bn for a 24% stake in a refinery being set up by Nagarjuna Oil
Corporation. Additionally, Trafigura will invest Rs6 bn to build storage
facilities and associated infrastructure (ET).
Adani Ports and Essar Ports are in the race to build the Rs 36 bn mega
container terminal at Chennai Port (BS).
Neyveli Lignite Corporation (NLC) has said that the power projects
worth 6,500 Mw are under formulation stage. These include a 2,000 Mw
coal-based power plant at Uttar Pradesh, which will be developed along
with Uttar Pradesh Rajya Vidhyut Utpadan Nigam (BS).
ABB has won a contract worth Rs 750 mn from Delhi Metro Rail
Corporation (DMRC) to provide power solutions for a planned metro rail
network for Jaipur. The turnkey project includes design, supply,
installation and commissioning of essential power infrastructure (BS).
Bharat Heavy Electricals Limited Corporate R&D division at Hyderabad
has clocked a value of in-house developments at Rs 95.1bn for the year
2011-12, which is 19 per cent of the company's total turnover and up 22
per cent over last year (BL).
Hyderabad Airport operated by GMR Infrastructure limited
subsidiary, expects slightly lower passenger numbers this year because of
the local challenges being faced by domestic airlines (BS).
IDBI Bank plans to mobilise up to $1 billion in 2012-13 from overseas
markets via syndicated loans and by issuing bonds. Last year, it had raised
about $720 million (BL).
Mahindra & Mahindra has said to be exploring opportunities in the
unconventional space powering new vehicles, such as sports utility
vehicles (SUV) and mini cars. It would be working on concepts such as full
hybrids, battery-powered powertrains, bio-diesel, fuel-cells and
hydrogen-powered engines (BS).
Shree Ganesh Jewellery House Ltd (SGJHL) has forayed into solar
power by setting up a 25 mega watt plant in Gujarat at an investment of
Rs 4 bn (BL).
Suzlon Group-subsidiary REpower UK said it has signed a contract to
supply turbines to a wind farm for Renerco's Cotton Farm in
Cambridgeshire, England. This is the second contract REpower has signed
with Renerco in the past four months, according to which eight REpower
MM92 machines will be installed (BS).
Mangalore refinery and petrochemicals limited (MRPL) has shut
down phase II and III units following shortage of raw water supply after
the District Administration directed MRPL to stop pumping water from
Sarapady weir (BL).
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy News
Industrial production growth slowed to 4.1% in February compared to
6.7% expansion in the previous year-ago month. The government also
sharply revised the January production number to 1.1% growth from the
previously reported 6.8% expansion and attributed it "incorrect
reporting" of sugar production data for January (ET).
The government has approved the adoption of ad-valorem regime for
charging royalty on coal and lignite at 14% and 6% respectively (ET).
Corporate News
Suzlon Energy, which urgently needs to repay $569 million to
bondholders by October,has begun talks with key banks for raising
money. Suzlon is believed to have sounded out some banks such as SBI,
Bank of India, Bank of Baroda, Central Bank, Canara Bank and IDBI for a
term loan of $700 million in FY13 (ET).
Trafigura,the worlds third-largest independent oil trader, will invest Rs6.5
bn for a 24% stake in a refinery being set up by Nagarjuna Oil
Corporation. Additionally, Trafigura will invest Rs6 bn to build storage
facilities and associated infrastructure (ET).
Adani Ports and Essar Ports are in the race to build the Rs 36 bn mega
container terminal at Chennai Port (BS).
Neyveli Lignite Corporation (NLC) has said that the power projects
worth 6,500 Mw are under formulation stage. These include a 2,000 Mw
coal-based power plant at Uttar Pradesh, which will be developed along
with Uttar Pradesh Rajya Vidhyut Utpadan Nigam (BS).
ABB has won a contract worth Rs 750 mn from Delhi Metro Rail
Corporation (DMRC) to provide power solutions for a planned metro rail
network for Jaipur. The turnkey project includes design, supply,
installation and commissioning of essential power infrastructure (BS).
Bharat Heavy Electricals Limited Corporate R&D division at Hyderabad
has clocked a value of in-house developments at Rs 95.1bn for the year
2011-12, which is 19 per cent of the company's total turnover and up 22
per cent over last year (BL).
Hyderabad Airport operated by GMR Infrastructure limited
subsidiary, expects slightly lower passenger numbers this year because of
the local challenges being faced by domestic airlines (BS).
IDBI Bank plans to mobilise up to $1 billion in 2012-13 from overseas
markets via syndicated loans and by issuing bonds. Last year, it had raised
about $720 million (BL).
Mahindra & Mahindra has said to be exploring opportunities in the
unconventional space powering new vehicles, such as sports utility
vehicles (SUV) and mini cars. It would be working on concepts such as full
hybrids, battery-powered powertrains, bio-diesel, fuel-cells and
hydrogen-powered engines (BS).
Shree Ganesh Jewellery House Ltd (SGJHL) has forayed into solar
power by setting up a 25 mega watt plant in Gujarat at an investment of
Rs 4 bn (BL).
Suzlon Group-subsidiary REpower UK said it has signed a contract to
supply turbines to a wind farm for Renerco's Cotton Farm in
Cambridgeshire, England. This is the second contract REpower has signed
with Renerco in the past four months, according to which eight REpower
MM92 machines will be installed (BS).
Mangalore refinery and petrochemicals limited (MRPL) has shut
down phase II and III units following shortage of raw water supply after
the District Administration directed MRPL to stop pumping water from
Sarapady weir (BL).
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