Economy News  13 Jan :: Kotak Securities

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Economy News
 The government has put 40 more coal mines on offer for auction and
allotment, of which 26 blocks would go to the power sector. Out of that
40 mines, 23 mines that are close to production, have been earmarked
for auction, while 17 others, including Tara East, Parsa East and Kanta
Basan would be allotted directly. (ET)
 Data released by the Central Statistics Office (CSO) showed industrial
output rose 3.8% in November compared to a decline of 1.3% in the
previous year ago period and a contraction of 4.2% in October. The
rebound was led by an upturn in the manufacturing, capital goods,
electricity and mining sectors. (ToI)
 The Consumer Price Index (CPI) inflation for the month of December rose
to 5%, driven by higher food costs. Urban inflation was reported at
5.32% versus 4.69% in November and rural inflation stood at 4.71%
versus 4.09% in November. Vegetable price inflation rose to 0.58%
versus (-) 10.9% in November. (ET)
 To make it easier for domestic mutual funds to manage offshore pooled
assets, Sebi proposed to drop '20-25 rule', which requires a minimum of
20 investors and a cap of 25% investment by an individual investor in a
particular scheme, for certain foreign entities. (ET)
Corporate News
 Kumar Mangalam Birla has decided to drop out of the race to buy
overseas cement assets of Holcim & Lafarge. Ultratech confirmed that it
has not participated in the final bidding round. (ET)
 Reliance Communications has awarded a ~Rs.7.5 Bn deal to UK-based
Vertex to outsource its call centre and shared services operations in an
aggressive restructuring move aimed at exiting non-core businesses and
reducing customer care support costs by at least a fifth. (ET)
 Cipla might re-start supplying anti-HIV drugs to the National Aids Control
Organisation (Naco) in the next two months. (BS)
 Deccan Chronicle Holdings Limited (DCHL) said that it had issued 66
mn shares at a premium of Rs 1.18 a piece to its lender SREI
Infrastructure Finance. With this, SREI has emerged the single-largest
shareholder in the beleaguered media company. (BS)
 GMR Infrastructure has started roadshows for Delhi International
Airport Ltd's maiden overseas bond issue to raise $290-300 mn to bring
down debt on the airport's books. (ET)
 Biocon concluded sale of 10% stake in its research arm Syngene for Rs
3.8 Bn to IVF Trustee Company Private Ltd. (ET)
 NTPC Ltd, India's biggest electricity generator, will invite tenders this
month for the construction of a $1.2 bn, joint venture power project to be
built in Bangladesh. (ET)
 Yes Bank plans to raise up to Rs 30 Bn in tier-II or non-equity capital by
September this year, a top official said. (ET)
 Gujarat Gas gets shareholder nod to merge with GSPC Distribution. (ET)
 Adani Enterprises Ltd has agreed to set up a joint venture with
SunEdison that will invest. Rs 250 Bn or $4 bn, to make India's biggest
solar photovoltaic manufacturing facility. (ET)
 SpiceJet Ltd is likely to lay off about 1,000 employees in the next few
weeks to rein in costs. (BS)
 GMR Infrastructure has written to the roads ministry asking for its
payments in a key roads project to be rescheduled if it is to restart work
on it. (Mint)