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Thursday 30 June 2011

CCEA Gives nod to Cairn Vedanta deal

CCEA Gives nod to Cairn Vedanta deal on conditions

Hindustan Zinc has raised lead prices by 1.3 per cent and zinc prices by 1.1 per cent

Hindustan Zinc has raised lead prices by 1.3 per cent and zinc prices by 1.1 per cent

Ackruti City has raised Rs 300 crore by mortgaging two fully built commercial buildings

Ackruti City has raised Rs 300 crore from Future Capital's NBFC arm, State Bank of India and ICICI Bank by mortgaging two fully built commercial buildings, Ackruti Star and Ackruti Solaris in Andheri east, Mumbai.

BPCL is planning for domestic LNG business

BPCL is planning to source gas from Mozambique for domestic LNG business. It is scouting for location to set-up LNG plant in India. The company will invest around Rs 10000 crore on upstream business.

NHPC has recommended a dividend of Re. 0.60 per share

NHPC has recommended a dividend of Re. 0.60 per share to the shareholders

Vishal Retail is going to sell four properties

Vishal Retail is going to sell four properties to raise Rs 50 crore to clear debt & partly fund its new expansion plans under V2 retail brand

Niko expects to increase its stake by 30% in Three blocks with RIL

Niko expects to increase its stake by 30% in each or all the three oil blocks it has with RIL

Wednesday 29 June 2011

NFL plans for an FPO

The fertiliser company NFL plans for an FPO that may be arising anytime soon.  They will likely to raise100 Crore through the FPO which can be an equity contribution

Apollo Global Management will invest USD 500 million in Welspun group

Private equity fund Apollo Global Management will invest about USD 500 million in Indian steel pipe manufacturer Welspun group, in the second biggest private equity investment in India this year as firms take advantage of the rapid growth in Asia’s third largest economy.

Positive for Essar and Hindalco Environment Ministry is set to clear Mahan coal block

Environment Ministry is set to clear Mahan coal block. Mahan coal block linked to Essar & Hindalco power plants

HCC likely to get approval from MoEF

MoEF is likely to give nod to Lavasa phase I: Sources. Lavasa will have to comply with 5 conditions

SC gives order in Favour of Tata Motors for Singur land

Supreme Court directed West Bengal government on Wednesday to not come the lands to the farmers until any orders from the Calcutta High Court. Tata Motors' lawyer Mukul Rohatgi said, "They cannot transfer the land until the ultimate orders from High Court." Tata Motors on Tuesday had approached the Supreme Court difficult the Calcutta High Court order refusing its plea to restrain West Bengal government from distributing land to farmers in Singur.

Tuesday 28 June 2011

PFC may raise 5k cr via bond issue in FY'12

PFC may raise 5k cr via Tax Free bond issue in FY'12
"We are awaiting the Ministry of Finance's nod to allow Power Finance Corp to raise Rs 5,000 crore through tax-free bonds in the current fiscal," a senior Power Ministry official said

IOL Chemicals & Pharmaceuticals' got recognition from Department of Scientific & Industrial Research

IOL Chemicals & Pharmaceuticals' in-house research & development unit has got recognition from Department of Scientific & Industrial Research, Ministry of Science & Technology, New Delhi

State Trading Corporation of India has recommended dividend of Rs 3 per share

The State Trading Corporation of India has recommended dividend of Rs 3 per share for the Year 2010-2011

Aanjaneya Lifecare has received certificatefrom the European market for drugs Quinine sulphate and Quinine hydrochloride

Aanjaneya Lifecare has received the certificate of suitability from the European market for two of its bulk drugs Quinine sulphate and Quinine hydrochloride. The company has also bagged orders worth Rs 60 crore from Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical, Activo SA and Pharmed Europe.

Cairn Energy approves removal of non-compete fee for deal with Vedanta

Cairn Energy approves removal of non-compete fee for deal with Vedanta. Removal of non-compete fee reduces sale price to USD 7.85/ci. Now Vedanta will buy Cairn energy at 355 rs/Share instead of 400 Rs/ Share.

NTPC commissions 660 MW unit at Sipat

State-run power major NTPC said it has started operations of the first super critical 660 MW unit at Sipat plant in Chattisgarh. The plant, located in Bilaspur, has an installed capacity of 2,980 MW

Finance Ministry may abolish customs duty on rubber up to 1 lakh tonne

Finance Ministry may abolish customs duty on rubber up to 1 lakh tonne. Removal of duty is likely due to rising domestic rubber prices

ITC may be going into Tea, Coffee and Chocolate businesses

ITC Chairman, YC Deveshwar says that ITC may be going into Tea, Coffee and Chocolate businesses

ABG Shipyard is getting into Defence Foray

ABG Shipyard has received a Rs 970 crore order from the Indian Navy for construction of two cadet training ships. The two ships will be used for providing basic training to the naval cadets and trainees and carrying out disaster relief, search and rescue operations, with the capability to carry light helicopters.

Sunday 26 June 2011

Zee Learn to Open new school in Bhatinda

Zee Learn to Open new branch of its school chain under name Mount Leitra in Bhatinda with investment of 30 Crore. School will be get operational from next academic session

Ranbaxy will get Approval Fron USFDA next week for molecules

Ranbaxy will get Approval Fron USFDA next week for molecules as last week USA FDA Division visited in Mohali plant and said that your plant is well above my expectations.so buy Ranbaxy as much as u can. Ranbaxy also breaks his 150 DMA on friday So both technically it is very strong so buy Ranbaxy for the target of 650. In month of November they are going to launch a Lipitator in Europe, Ranbaxy and Pfizer has monoply for that product so it is going to give u very high return in this year and will regain no.1 spot in India in pharma sector

Inflation will touch double digit mark in few weeks

Inflation will touch double digit mark in few weeks as diesel prices hiked by 3 rs. This will directly adds 0.3% to Inflation and this will also leads to increase in food, fruits, transportion costs which also causes high inflation.Also LPG And Kerosin adds to Inflation

Friday 24 June 2011

EGoM has taken decision on increase of fuel prices

EGoM has taken decision on increase of fuel prices, Diesel prices hiked by 3rs/ltr, Kerosen oil Prices hiked by 2 rs/ltr. And LPG prices increased by 50 rs/cylinder. Govt. Has reduced improt duty on crude by 5%

Maruti Suzuki head Says that strike causes a Very negligible lose

The head of Suzuki Motor Corp said that the strike that lasted six working days at the Manesar factory of subsidiary Maruti Suzuki India was negligible, leading to an output loss of just 16,000 vehicles.

ONGC likely to file papers for FPO after Govt. decision on Cairn Vedanta

State-owned Oil and Natural Gas Corp is probably going to file papers for a Rs 11,500 crore share sale when the govt. offers its verdict on its dispute with Cairn India .ONGC is in dispute with Cairn India over royalty payments on the later's showpiece Rajasthan oilfields and also the government is anticipated to relinquish its verdict when cupboard decides on UK's Cairn Energy selling stake in its Indian unit to London-listed mining cluster Vedanta Resources.

L&T gets Rs 1,610 crore orders from Tata Steel, Indiabulls

L&T’s metallurgical and materials handling company, part of its construction division, has received new orders worth Rs 1,610 crore from Tata Steel , Indiabulls power and other customers in the first quarter.
L&T has got Rs 240 crore order from Indiabulls Power for civil and construction works for coal handling and ash handling plants for its thermal power projects in Maharashtra’s Amravati and Nasik.

L&T said it plans to construct the first coke oven battery at the plant in 2.5 years. Apart from the coke oven plant, it also received several orders for steel melt shop construction from Tata Steel, the company said.

Bharti makes final payment of USD 700 million to Zain

Bharti makes final payment of USD 700 million to Zain. Zain said payment completed Zain-Bharti transaction.

EGoM has given nod for 5 lakh tonne sugar exports

EGoM has given nod for 5 lakh tonne sugar exports. However, Food Ministry said there was no decision yet on easing stock limits on sugar

SEBI & RBI ordered Shara Group co.s to return the money to investors and depositors

SEBI & RBI two big regulators ordered Shara Group co.s to return the money to investors and depositors and get out. Your money-raising business is risky for investors.

Lanco Infra faces A$3.5 bn lawsuit in Australia

 Lanco Infra dragged to court in Australia by Multinational Perdaman Industries seeking a A$3.5 billion compensation for not complying with coal supply pact.
For its upcoming urea plant, Perdaman had entered into a 25-year coal supply pact with Griffin Coal, which was acquired by diversified group Lanco for A$730 million in March 2011.

International Energy Agency releases oil reserves to boost economy

Oil consumer nations announced a surprise unharness from strategic government petroleum stockpiles in a very bid to push down fuel costs and underpin the world economy.The 28-member International Energy Agency said it'd unharness sixty million barrels each day over an initial thirty days to fill the gap left by the disruption to Libya's output.

The u. s. can offer 0.5 the volumes from its huge 727-million barrel crude reserve, about 1.5 days people consumption, with Europe supplying half-hour in crude and refined merchandise and therefore the rest from Pacific OECD nations.The unharness, solely the third within the IEA's 37-year history, may be a blow for the Organization of the Petroleum Exporting Countries and especially for its biggest producer, Saudi Arabia, an in depth US ally.

Despite Saudi efforts, the producer cartel did not raise output at a gathering on June eight leaving Riyadh to pump additional unilaterally.Before the OPEC meeting Riyadh had mentioned a crude swap with the u. s. that may have seen US reserves equipped to Europe, however did not reach agreement."The move is critical because it represents a reach by member countries for the remedy of last resort to high costs," said US energy analyst John Kilduff at once more Capital."Clearly the energy value spike is being cited because the reason for the economic slowdown and this is often reaction to that. The Libyan outage provides sensible cowl."OPEC member Libya was exporting regarding 1.2 million bpd before the rebellion that brought its oil business to a standstill.

Thursday 23 June 2011

Speak ASIA can't be able to control India operations

Speak ASIA can't be able to control India operations from Singpure says govt. So thiis gives huge setback to investors.

Wednesday 22 June 2011

Toyota Kirloskar will launch Etios Liva

Japanese auto maker Toyota Kirloskar will launch awaited premium hatch back Etios Liva on 27 in Delhi. The company had earlier deferred the launch of the Etios Liva from April to June. The decision was taken to reduce the long waiting period for the Etios.

China is building 4 hydroelectric dams having generating capability 2 times of 3 Gorges Dam

China is building 4 hydroelectric dams with a generating capability double that of the 3 Gorges Dam, the world's largest power station in terms of put in or production capability, the Shanghai Daily reported on Tuesday. These hydroelectric dams are being engineered on Jinsha river , a tributary of the Yangtze, the longest river in Asia and also the third longest within the world.

The four hydro stations, with a complete put in capability of forty three million kilowatts, can offer one hundred ninety billion kw hours of electricity a year once completion, the Beijing News cited the China 3 Gorges Corp as saying Monday. Of the four dams within the lower reaches of the river in Sichuan province, Xiangjiaba and Xiluodu hydropower stations can begin operating in 2012 and 2013. Preparations are underneath means for the 2 alternative stations in Wudongde and Baihetan. Preventing floods and fighting drought are the 2 most significant tasks of the 3 Gorges Dam, said Chen Fei , general manager of the China 3 Gorges Corp. Its alternative functions embrace guaranteeing water provides to the center and lower reaches of the Yangtze river and safety of fisheries, Chen said.

HMT sent revival proposal worth Rs 250 crore to Govt.

HMT sent revival proposal worth Rs 250 crore to govt. Revival aid will be used to bring in technology. We plan to sell 100 acre of land.

Coal India will float a tender for exploration of its two blocks in Mozambique

Coal India will float a tender for exploration of its two blocks in Mozambique by the month-end.
CIL had won the two blocks in August 2009 through a global tender floated by the government of Mozambique.

CBI gives clean chit to Idea for getting six licences in 2008

CBI gives clean chit to Idea as no evidence found of wrongdoing by Idea for getting six licences in 2008

Sun Pharma announces USFDA approval for generic Imitrex® injection

Sun Pharma announces USFDA approval for generic Imitrex® injection. First ANDA approval for a Sumatriptan AutoInjector

Zuari Industries hikes it stake in Texmaco & Nagarjuna Fertilizers & chemicals

Zuari Industries hikes it stake to 6.66% in Nagarjuna Fertilizers & chemicals & by 4.95% in Texmaco

Tuesday 21 June 2011

IRDA has issued new draft for IPO Of insurance co.s

IRDA has issued new draft for IPO Of insurance co.s, co.s must complete 10 years in insurance sector befor going for IPO and co.s should take permissiom from IRDA before filling DRHP with SEBI

Monday 20 June 2011

Oil prices fell to below $92 a barrel

Oil prices fell to below $92 a barrel in Asia as Greece's deepening financial crisis undermined confidence in the euro.

Government has strongly denied any taks on revising the double tax avoidance agreement with Mauritius

The government has strongly denied holding any talks on revising the double tax avoidance agreement with Mauritius. Indian equity market has been witnessing a volatile bout of sell offs post news that India and Mauritius are in talks to revise the existing tax treaty

India Marker Fall Sharply after concerns of renewed tax treat between India and Mauritius

Indian markets sharply lower after a sell-off triggered on concerns of renewed tax treat between India and Mauritius

Supreme Court Rejects Bail Plea of Kanimozhi & Sharad Kumar

Supreme Court Rejects Bail Plea of Kanimozhi & Sharad Kumar. A special bench comprising of justices GS Singhvi and BS Chauhan rejected their bail petition after hearing the arguments of the Central Bureau of Investigation and counsel and the duo's lawyers.

GTL & GTL infra Plunged More then 50%

GTL Infra has pulled out its USD 300 million capital raising plan and that led to heavy unwinding of GTL and GTL Infra shares

GTL Infra has not even gone on the roadshows. The plan was pertaining to raising the capital and it was subject to earlier market conditions which were  good.  Post 2G scam, issues in India concerning telecom companies have been generally bad.
As a result,  raising funds for any telecom companies including debt or equity has been extremely difficult. So, we didn’t really pullout the issue. In fact, we didn’t even go on the roadshows. Whether or not that has any linkage I really have not idea. Told by Manoj Tirodkar, chairman and managing director of GTL

Sunday 19 June 2011

Essar decides to exit from Telecom Biz in Africa

After exiting telecom biz in India,Essar decides to exit from Telecom Biz in Africa. Telecom operations in Ugandg and Congo which they acquired from Warid Telecom are returned to them and they are also looking for buyers for Kenya operations

Saturday 18 June 2011

RCOM and R-Infra are out of Elite sensex index

BSE has decided to take ADAG Stocks-RCOM and R-Infra are out of Elite sensex index these stocks are replaced with Coal India and Sun Pharma stocks, Rcom and R-Infra are thus out of top 30

Friday 17 June 2011

Coal ministry issued orders to revoke mining licences of five blocks of NTPC

The coal ministry issued orders to revoke mining licences of five blocks of NTPC, Damodar Valley Corp and Jharkhand State Electricity Board with combined reserves of 1,000 million tonnes. Three of the five blocks - Chatti Bariatu , Chatti Bariatu and Kerandari

Jyoti Structures has bagged contracts of Rs 524 crore

Jyoti Structures has bagged contracts aggregating to Rs 524 crore from Maharashtra State Electricity Distribution, Jaiprakash Power Ventures and Bhutan Power Corporation.

Essel Propack has signed agreement with Colgate-Palmolive India to set up a plant in Goa

 Essel Propack has signed a long-term agreement with Colgate-Palmolive India to set up a plant in Goa at an investment of Rs 400 million

BHEL to set up 5-MW solar power plant for KPCL

The electronics division of Bangalore-based Bharat significant Electricals restricted has won a serious turnkey contract for putting in an eco-friendly, grid-connected solar power plant of 5-MW capability.Valued at Rs 62 crore, the order for putting in a solar photovoltaic (SPV) power plant close to Shivasamudram, in Mandya district, was placed on BHEL by KPCL.

BHEL's scope of labor below the contract involves the look, manufacture, supply, installation and operation and maintenance of the solar power plant. With this order, BHEL is presently executing SPV-based power comes of varied capacities totalling 16 MW, the corporate said during a statement here.

RBS and Wockhardt agree to settle loan default cum derivative spat out of court

RBS and Wockhardt agree to settle loan default cum derivative spat out of court. RBS claimed Rs 20 crore due from Wockhardt

Tata Steel Sold Stake in Riversdale

Tata Steel has sold its stake in Africa-focused Riversdale Mining for a cool Australian dollar 1.06 billion, walking away with nearly 100% profit from the investment

Maruti Suzuki 13 Day Strike called off

The 13-day strike at the country's largest automotive maker Maruti Suzuki India's (MSI)Manesar plant in Gurgaon was called off late tonight following a deal brokered by Haryana Chief Minister Bhupinder Singh Hooda between the employees and therefore the management.

As a part of the deal, MSI can reinstate all the sacked eleven employees and take a lenient approach on imposing no-work-no-pay rule of eight day's salary cut for each single day of the strike.

 On the opposite hand, the worker's have conceded to the management's demand of not permitting the formation of a second union within the company."Agreement has been signed and employees have determined to decision off the strike. they'll resume work from tomorrow", Haryana Labour Secretary Sarban Singh said. He said the corporate has determined to reinstate all the eleven sacked staff and a disciplinary inquiry are going to be initiated against them. Sources aware of the event said the formula was figured out once Hooda met MSI prime executives, as well as Managing Director and CEO Shinzo Nakanishi, last evening. Company officers couldn't be reached for comments. because the strike continued for the last thirteen days, the corporate lost production of 12,600 units valued at concerning Rs 630 crore.

Thursday 16 June 2011

GVK Power is raising 1.2 Billion dollars debt to buy Hancock Mines

GVK Power is raising 1.2 Billion dollars debt to buy Hancock Mines, estimated cost is about 3.4 billion dollars, they are likely to get loan from ICICI bank at interest rate of 10%

Ayman al-Zawahri has taken command of al Qaeda

Osama bin Laden's long-time lieutenant Ayman al-Zawahri has taken command of al Qaeda after the killing of the group's founder and leader, an Islamist website said today

Honda City reduced prices by upto Rs 66,000

Honda City reduced prices by upto Rs 66,000 in Delhi With effective from June 14,2011, Honda Siel Cars India announced the new price structure for its volume model Honda City. The price reduction has been attributed to cost reduction efforts in the supply chain and manufacturing.

Airbus has received an order price $7.2 billion for 72 planes from GoAir

Airbus has received an order price $7.2 billion for 72 planes from Indian carrier GoAir The order for A320 planes brings GoAir's total order book with Airbus to $9.6 billion

Jubilant Foodworks has launched its first Domino’s Pizza store in Vizag

Jubilant Foodworks has launched its first Domino’s Pizza store in Vizag

RBI Credit Policy

RBI has hiked policy rates by 25 basis points,. Repo rate has been hiked by 25 bps to 7.50% and Reverse Repo Rate has been hiked by 25 bps to 6.50%, CRR Fixed at same rate as previous

GVK Power to buy Hancock coal mines

GVK Power and Infrastructure will buy two of Hancock Prospecting's thermal coal mines in Australia for around USD 2.4 billion

Nesco has decided to cancel the stock split

Nesco has decided to cancel the stock split of its equity shares from Rs 10 to Rs 1

Ashok Leyland board okays 1-for-1 bonus share issue

Ashok Leyland board okays 1-for-1 bonus share issue

Two lakh workers of Maruti to go on hunger strike on June 17

Two lakh workers of Maruti to go on hunger strike on June 17. The supply of Maruti's SX4, Swift, Dzire has stopped since both are manufactured at Manesar plant .
Workers in about 65 factories in the Gurgaon- Manesar industrial belt have decided to work empty stomach on June 17 and hold a two-hour tool-down strike on June 20 from 11 am to 1pm to support the striking employees of Maruti

Wednesday 15 June 2011

Reliance Industries Advance tax payment may get increased from 624 cr to 900 cr

Reliance Industries Advance tax payment may get increased from 624 cr to 900 cr

Yash Birla Group company Birla Pacific Medspa IPO will open from June 20-23

Yash Birla Group company Birla Pacific Medspa will tap the capital market through a Rs 65 crore initial public offering on June 20 to fund its expansion plans.

Birla Pacific Medspa plans to raise around Rs 65 crore by way of an IPO with a price band of Rs 10 to Rs 11. The issue will open for subscription on June 20 and will close on June 23.

Power Grid Corporation of India competing for Indian and foreign rivals for a Rs 1,300-crore contract

Power Grid Corporation of India will be competing for a domestic contract with Indian and foreign rivals for a Rs 1,300-crore contract

Lupin’s has acquired the worldwide rights to the GOANNA brand

Lupin’s has acquired the worldwide rights to the GOANNA brand and the complete range of premium therapeutic oils, rubs and ointments marketed under the brand.

Gokul Refoils & Solvent has recommended a final dividend

Gokul Refoils & Solvent has recommended a final dividend of Re. 0.22 (11% on equity share of face value of Rs. 2/- each) for the year ended March 31, 2011

NHPC forms Joint Venture with J&K State power and PTC India

State-run NHPC incorporated a joint venture company with Jammu Kashmir State Power Development Corporation Ltd and PTC India Ltd to implement 2,100 mw hydroelectric power comes within the state. The joint venture company - Chenab Valley Power comes - would found out Pakal Dul and alternative hydroelectric comes of 2,100 mw capability in Chenab river basin of Jammu and Kashmir, NHPC said during a regulatory filing on Tuesday.

NHPC had in December last year inked a promoter's agreement with Jammu and Kashmir State Power Development Corp and PTC India for putting in place the new entity. Jammu and Kashmir State Power Development Corp and NHPC would own forty ninth stake every within the joint venture firm whereas the remaining shareholding would be with PTC India.

NHPC plans to speculate Rs 5,090 crore within the current money year toward ten comes with 4502-mw capability. the corporate is getting ready detailed project reports for seven comes, having a complete capability of  2,485 mw. The company's four comes with 1,080-mw capability are probably to become operational this year. the corporate has been ready to add solely 2,200-mw throughout 2007-12 against the targeted 5,300-mw.

Caraco shareholders approve merger with Sun Pharma

Caraco shareholders approve merger with Sun Pharma

Tata Motors Sales went up 11%

Tata Motors May global sales went up 11% at 88,251 units. JLR sales moved up 17% at 22,296 units

Tuesday 14 June 2011

Suzlon receives 31.5 MW order from Canada-based Sprott Power Corp

"Suzlon receives 31.5 MW order from Canada-based Sprott Power Corp.".

PSL Bags order of 753 cr from GAIL

PSL Bags order of 753 cr from GAIL

Manappuram to raise 750 cr through NCD issue

Loan-against-gold firm Manappuram Finance plans to raise Rs 750 crore through its maiden retail non-convertible debenture issue to fund its growth plans. The issue may be launched in July with a tentative coupon size of 11-12%.

First Leasing dismisses 'speculative' rumours of stake sale

First Leasing has been buzzing around in the market on rumours of a stake sale. Buzz has it that the company is all set to sell 21% in First Leasing to companies like Temasek and Tata Chemicals. However, company chairman AC Muthiah says that news of such stake sale holds no ground and are merely ‘speculative rumours’.

Facebook worth of USD 100 billion

Facebook social-networking site that is one of the most closely-watched private companies in the world, is likely to go public by the first quarter of 2012, say people familiar with the matter, at a valuation that  of USD 100 billion

Inflation comes to 9.06% instead of 8.66%

Inflation comes to 9.06% instead of 8.66% for the Month of May

Idea Reslts

Idea's profit rose nearly 3% to Rs 274.5 crore in fourth quarter FY 2011 from Rs 266.6 crore in last quarter of FY 2010

Deutsche Bank India results

Deutsche Bank India said net profit rose 41% last fiscal as its corporate and investment banking raised revenues by lending and advising on fund raising and takeovers. The German bank said net earnings for the year ended March 2011 was Rs 630 crore, up from Rs 446 crore a year earlier, a statement from the bank said. During the year, the parent invested

S&P Downgraded Greece

Greece became the lowest-rated country within the world per common place S&P's, that downgraded it on Monday and warned that any conceive to restructure the country's debt would be thought-about a default. Greece currently features a lower credit rating than countries like Pakistan and Ecuador , that has been shut out of international markets since a 2009 default worth of insuring Greek debt is currently nearly twice the maximum amount because the price of insuring Pakistani bonds.

S&P's move was the newest blow for Greece's Socialist government, that is scrambling to push an unpopular austerity package through parliament to make sure continued funding below a year-old bailout set up. Barely a year once Athens was granted a primary 110-billion-euro aid package, the ecu Union, the IMF and also the European Central Bank are acting on a second funding deal. Some European countries like Germany oppose giving extra money to Greece while not the help of personal creditors.

 S&P said European policymakers looked increasingly possible to impose a restructuring of Greece's debt -- either via a bond swap or by extending bond maturities -- as a method of constructing the non-public holders of Greek bonds share the burden. "In our read, any such transactions would possible be on terms less favorable than the debt being refinanced, which we, in turn, would read as a de facto default per commonplace & Poor's printed criteria," the agency said. In such a case, S&P said, Greece's credit rating would be lowered to "selective default," or SD, whereas the ratings on the country's debt instruments would be cut to D. It cut Greece's long-term sovereign credit rating to CCC, four steps removed from default, from B.

The short-term rating was affirmed at C and every one ratings were faraway from credit watch. The move takes S&P's rating of Greece one notch below Moody's Caa1, whereas Fitch ranks Greece at B-plus. This makes Greece rock bottom country in S&P's rankings. S&P said the outlook on the long-term rating remained negative, a symptom that another downgrade is probably going within the next twelve to eighteen months.

Citigroup has decided to reduce its stake in Housing Development Finance Corp

Citigroup has decided to reduce its stake in India's top mortgage lender Housing Development Finance Corp to about 10 per cent from 11.4 per cent now via stock market deals

Himalaya International entered into a joint venture with the USbased JR Simplot

Shares of Delhi-based food processing company Himalaya International rose sharply on hopes of better prospects after the company entered into a joint venture with the USbased JR Simplot , which is a large player in agriculture and potato processing.

Monday 13 June 2011

Strike continue in Maruti on 11th day

Strike continue in Maruti on 11th day even after Haryana govt. Do not accept that strike, Maruti Management decided not to take 11 suspended employees and they even rejected the proposal of making a new Union

Cairn Vedanta deal might get cancelled

9.2 billion dollar Cairn Vedanta deal might be get cancelled by CCEA

Confidence Petroleum bagged orders worth Rs 59.80 crore from BPCL

Confidence Petroleum bagged additional orders worth Rs 59.80 crore from BPCL for supply of LPG cylinders of capacity 14.2 KG and 19 KG

Titan Industries has approved issue of bonus shares

Titan Industries has approved issue of bonus shares in the ratio of 1 (one) equity share for every 1 (one) equity share held

Punj Lloyd won nuclear power contract from NPCIL worth Rs 678 crore

Punj Lloyd has won an EPC nuclear power contract from NPCIL worth Rs 678 crore for critical nuclear piping work at four pressurised heavy water reactors of 700 MWe each.

Maharashtra Govt. is going to file Case against Lavasa

Dark clouds appear to be once more looming giant over Hindustan Construction Company's bold Lavasa Lake town project, because the Maharashtra Government plans to file an environmental violation case against the corporate in Pune court tomorrow.

In a letter to the Maharashtra Government, the Union Ministry said that in an appraisal of request for inexperienced clearance for the event of 2,000 hectares Hill Station Township "it was found that constructions/developments in 681 hectare space was in progress while not getting previous environmental clearance." Noting that it had earlier issued show-cause notices on November 25 last year and "final directions" on January seventeen this year, the Ministry said the constructions/developments within the 681 hectare space "are violations" of setting (Protection) Act 1986.

The action comes while the setting Ministry prepares to form known its call on the Phase-I of the controversial project on June 15, when the matter comes up within the Bombay High Court.

Larsen & Toubro get Order of worth $24.6 million from West Bengal

Larsen & Toubro said on Monday it secured an order worth 1.1 billion rupees ($24.6 million)from West Bengal State Electricity Distribution Company

Samsung Electronics Co Ltd become the world's largest smartphone maker Overtaking Nokia

Samsung Electronics Co Ltd will become the world's largest smartphone maker this quarter, overtaking struggling Nokia Oyj which has lead the market since 1996

Max India allots 2.4 crore shares to Goldman Sachs at Rs 216.75

Max India allots 2.4 crore shares (10% eq) to Goldman Sachs at Rs 216.75 on conversion of debentures

Bhushan Power recently bought 13% stake in Nova Iron

Block deal: 1.23 cr Nova Iron shares changed hands on exchanges at Rs 13.72/sh. Bhushan Power recently bought 13% stake in Nova Iron.

Bharti Group to get payment in 2 tranches for AXA's JV Stake

Bharti Group to get payment in 2 tranches for AXA's JV Stake: Sources. Bharti group likely to have sold Stake for around Rs 3,000 cr

PVR is going to buy back shares at 140 Rs/share

PVR is going to buy back 27.1 Lakh shares at 140 Rs/share

Sunday 12 June 2011

Baba Ramdev Breaks his fast

Baba Ramdev Breaks his fast after 9 days after drinking juice annouced by Sri Sri Ravishankar

Saturday 11 June 2011

Reliance Industries to buy Bharti's stake in AXA

Reliance Industries to buy Bharti's 74% stake in Bharti AXA Life and General insurance. Valve of deal might be 1665 crore Rs. This buying leads to RIL maidan foray into retail financial services

Aviva Life insurance comes in profit

Aviva Life insurance comes in profit with profit of 29 crore for the year ended March 2011. It comes 1st time in profit since its inception in 2002. Company Reptorted loss of 345 crore previous year

Friday 10 June 2011

Timbor Home sets issue price at Rs 63/share

Timber Home a manufacturer-retailer having a pan-India presence with more than 80 exclusive stores of kitchen, has fixed issue price at higher end of price band of Rs 54-63 a share.

Aurobindo Pharma has received approval from the USfor the treatment of hypertension

Aurobindo Pharma has received final approval from the US Food and medicines Administration to manufacture and market Ramipril capsules, that are used for the treatment of hypertension.Aurobindo’s Ramipril capsules are the generic equivalent of King Pharmaceuticals’ Altace capsules, and can be launched soon, it said during a notice to stock exchanges.The product had a market size of concerning USD 95 million for twelve months ended September 2010, Aurobindo said citing IMS knowledge.Aurobindo Pharma said it currently has 108 final approvals and 30 tentative approvals from the US FDA.

Reliance Retail will foray into the cash and carry

Reliance Retail will foray into the cash and carry market with "Reliance Market" in Ahmedabad. Reliance Industries Ltd chairman Mukesh Ambani had announced at the recent thirty seventh Annual General Meeting concerning his company's plans to launch a cash and carry format.

The first Reliance Market can open in Ahmedabad in August 2011, a Reliance Retail spokesperson said. Reliance Market store can cater to the requirements of the native traders and little businesses and provide regional, national and international brands. Reliance Market can stock over 20,000 merchandise starting from recent fruits and vegetables, dairy merchandise, detergents and toiletries, groceries, workplace furniture, stationery, footwear in addition as electronics and IT merchandise. Reliance can compete with world biggies like Bharti Walmart, Metro and Booker during this section domestically, the spokesperson added.cash and carry may be a style of trade within which merchandise are sold from a wholesale warehouse operated on a self-service basis. It primarily serves business customers like search house owners (kiranas), traders, caterers, institutional consumers like hotels, restaurants, colleges and offices who settle the invoice on the spot in money, and carry the products away themselves..

Tata Cap, Swiss Re, Temasek may buy 27.3% in First Leasing co.

 Tata Cap, Swiss Re, Temasek may buy 27.3% in First Leasing co.

Baba Ramdev's Admitted to Hospital

Baba Ramdev's health deteriorated on Friday and was taken to Dehradun for hospitalization as his quick against corruption continued for the seventh day. The district magistrate, R Meenakshi Sundaram who came here perasonally met Baba Ramdev on a stretcher in an ambulance. There was a significant chaos in Patanjali Yogpeeth as Baba Ramdev's supporters shouted slogans against Sonia Gandhi and therefore the Conress. "The team has observed his scenario. he's tormented by dehydration, and his condition has deteriorated," said Yogesh Kumar Sharma, chief medical officer (CMO) of Haridwar. "We advise him to urge hospitalised for higher cardiac monitoring. He has lost 1.5 kg weight, with a complete weight loss of 5.5 kg since Saturday," Sharma added. Ramdev's health condition has significantly deteriorated and he took lemonade and honey at the request of doctors on Thursday.

Maqbool Fida Husain to be buried at Brookwood cemetery

Sticking to legendary Indian painter Maqbool Fida Husain's last needs, his family can lay him to rest at the Brookwood cemetery at Woking in Surrey , on the city's outskirts in a while Friday. Husain's body, was kept at Idara-e-Jaaferiya, a funeral Parlour at Tooting, to facilitate the general public to pay their last homage to the renowned painter.

According to his family sources, the namaz-i-janaza are going to be held at twelve.45 pm followed by Friday prayers before moving his body to Woking. Husain had expressed a want to be buried wherever he breathed his last. The burial are going to be conducted with full Muslim rites. 95-year-old Husain died at the Royal Brompton hospital yesterday morning. He died of lung congestion, the sources said.

Reliance ADAG & Sarswati Bank tie to give banking Solutions

Saraswat Bank has announced a tie-up with Reliance ADAG beneath that the Anil Ambani-led cluster can market a core banking resolution developed by the bank's infotech subsidiary. "We have recently betrothed with the ADAG through that we will sell our core banking software, 'Swift Core', to banks using ADAG's optical fibre network unfold across the country," Saraswat Bank Chairman Eknath Thakur told reporters late last evening. Swift Core has been developed by Saraswat Infotech restricted (SIL), Thakur said, adding that an estimated three hundred little banks across the country ought to install core banking software as a compliance live.

"The giant banks select packages developed by larger firms like (Oracle) I-flex and Infosys, however we are going to target the merchandise at three hundred smaller banks who additionally ought to install CBS," Thakur said. ADAG can market the merchandise and do the invoicing, whereas SIL can function the service supplier and do the upkeep, he said, while not specifying the name of the ADAG cluster company or subsidiary it's partnered with. Thakur said SIL can profit plenty from the tie-up with ADAG, with ADAG investing over Rs 15000 crore to erect the OFC network.

JSPL’s Chhattisgarh unit comes under Ministry of environment & forests scanner

JSPL’s Chhattisgarh unit comes under Ministry of environment & forests scanner

Tata Motors-West Bengal issues ordinance

West Bengal issues ordinance - will acquire 400 acres of Tata Motors land. Ordinance Amends section 48 of Land Acquisition Act
6 Dyas of Baba Ramdev's hunger strike saw a comedy of errors, amid medical reports of dipping glucose levels, increasing ketone levels and contradictory news on his weight loss. ultimately count he had lost only 1.5 kg, as opposition earlier claims of five kg. But this failed to stop Ramdev from declaring his assets, on Thursday, as promised. in keeping with the knowledge he provided, there are 3 primary trusts. Among them, the Divyayog Mandir Trust is that the oldest and contains a total capital of Rs 249.63 crore and a complete welfare pay of Rs 685.25 crore within the last twelve years. The newer Patanjali Yogpeeth Trust contains a capital of Rs 164.8 crore and total pay of Rs 53.52 crore until date. The Bharat Swabhiman Trust, constituted for the anti-black cash campaign, contains a capital of Rs 9.57 crore as against a complete welfare pay of Rs 11.51 crore. However, the yoga guru did not answer all queries on asset base, money inflows etc on company details, etc. Ramdev and his aide Balakrishna cut a sorry figure when faced with a flurry of queries on his business and assets. Balakrishna, seen because the money face of the Patanjali Trust, left his laptop computer and fled to his area because the volley of queries continued. The prime question that remained unanswered was on the company dealings and variety of corporations the trusts operated. Balakrishna maintained that each one queries relating to the Ramdev's corporations ought to be directed to the Registrar of corporations.

IIP for April today

IIP for April seen at 5.5 % vs 7.3 % in March, according to ET Now estimates.

Thursday 9 June 2011

CBI Registered case against MTNL and HCL Infosystems Officials

The CBI has registered another case in the Commonwealth Games scam and searched residences of officials of Mahanagar Telecom Nigam and Noida based HCL Infosystems for allegedly inflating cost of setting up a broadcast network for the Games by nearly Rs 400 crore

Jet Airways and GoAir will place aircraft orders worth $6.5 billion with Airbus

Jet Airways and GoAir will place aircraft orders worth $6.5 billion with Airbus SAS at the Paris Air Show later this month

OPEC decided not to increase Oil Production for next Three months

OPEC decided not to increase Oil Production for next Three months

Infosys acquires software solution biz of NewZeland’s Gen-i.

Infosys acquires software solution biz of NewZeland’s Gen-i.

Saint Gobain to seek shareholder nod for delisting

Saint Gobain to seek shareholder nod for delisting. The company proposes indicative offer price of Rs 31/share

Indian Oil incurred a losses of 25000 crore rs. On giving subsidy

Indian Oil incurred a losses of 25000 crore rs. On giving subsidy on Petrol, Kesosin and LPG and Indian oil demands from govt. To give them 100% of this losses

Wednesday 8 June 2011

SpeakAsia Will list their business in India

SpeakAsia Will list their business in India with 95 crore investment and they will open theis 1st office in Mumbai, this will bring great relief for investors. Co. Will soon get approval from RBI, FIPB And RoC

DB Realty results

DB realty annouced results toay co. Reported profit of 299 crore against 252 crore previous year

Wipro Consumer care buys Aramusk and Moloy soap brands

Wipro Consumer care buys Aramusk and Moloy soap brands from Mumbai base VVF Ltd.

Kanimozhi not getting bail today

Kanimozhi not getting bail today so they are going to appeal in supreme court

HCL infosystems and MTNL management persons are found involved in CWG Fraud

HCL infosystems and MTNL management persons are found involved in CWG Fraud

Strike continue in Manesar plant Maruti Suzuki

Strike continue in Manesar plant Maruti Suzuki for the 5th day as management has taken solid ground against strike, for every day co. Is losing 40 crore this is impacting stock also

Max India MD has given resignation

Max India MD Analjeet Singh has given resignation new MD will be now Rahul Khosla

Tuesday 7 June 2011

Buffett Lunch auction hits 1.51 million dollars

Buffett Lunch auction to benefit San Fransico hits 1.51 million dollars with 4 days of bidding remaining,bidding will close on 10th of June

Ambuja Cement buys 85% stake in Nepal's Dang Cement

Ambuja Cement buys 85% stake in Nepal's Dang Cement for 19.13 crore rs.

April-May Direct tax collection increases by 37%

April-May Direct tax collection increases by 37% from a year ago period indicating that slowdown has not taken toll on tax revenue

Adani Power plans to in building solar power plants

Adani Power plans to invest Rs 2000 crore in building solar power plants with a capacity to generate 140 mw

Monday 6 June 2011

IBM get contract from India infoline

Technology major IBM on Monday secured a contract from India infoline worth Rs 298 crore to transform the latter's IT Infrastructure and manage IT costs.

Ashok Leyland’s monthly sales numbers

Ashok Leyland’s monthly sales numbers saw their total sales figures decline 5,725 units versus 6,502 units, year-on-year in May

Shiva Cement gets MoEF nod for expanding plant

Shiva Cement gets MoEF nod for expanding plant capacity to 1.05 mtpa. Current plant capacity is at 0.132 mtpa

SEBI says StanChart need not convert IDRs into shares

SEBI says StanChart need not convert IDRs into shares. Stock fell on no arbitrage opportunity

Jubilant Life receives US FDA approval for Donepezil Hydrochloride tablets

Jubilant Life receives US FDA approval for Donepezil Hydrochloride tablets 5mg & 10 mg

Raymond may sell Thane land

Raymond may sell Thane land for around Rs 2,250 cr: Sources. Oberoi, Peninsula, Runwal Grp lead race for Raymond land

Tulip Telecom is going to sell stake in Data Centre business

Tulip Telecom is going to sell stake in Data Centre business for $ 60 m

Sunday 5 June 2011

Provident fund getting online very soon

Provident fund getting online very soon in all 120 offices across india so that all P.F. Accounts will be updated very soon so that non operative accounts are closed which are not in operation from 3 years

Reliance Industries is not going into Powar foray

Reliance Industries is not going into Powar foray at yet as annouced by Mukesh Ambani

Baba Ramdev Fast broken by police

Baba Ramdev Fast broken by police on yesterday midnight, According to Kapil Sibal baba has turned a yoga shivar into political issue and baba has given permission on Ramlila ground for yoga shivar for 5000 people but by baba turned yoga shivar into political background and there were 50,000 people. Baba has been reached into Haridwar now, a case has been registered against baba Ramdev by Delhi police

Saturday 4 June 2011

Walmart tie up with Kirana stores for tapping whole retail market

Walmart tie up with Kirana stores for tapping whole retail market as Ministerial panel appointed by the PM favouring foreign investment in multi-brand retail to tame inflation. Walmart is ready to open new outlets in Maharashtra,AP & Chhattisgarh

Reliance industries will become Debt free during financial year 2011-12

Reliance industries will become Debt free during financial year 2011-12 as Mukesh Abani gives statement during AGM as co. Willl have 42,393 crore cash balance. After govt. Approvals for BP-Reliance partneship, KG-D6 reservoir will be jointly assessed to address tech. Issues in ramping up production

Transport Corporation of India Results

Transport Corporation of India reported standalone net profit of Rs 12.75 crore for quarter ended March 2011 as compared to Rs 12.54 crore a year ago. Net sales were at Rs 477.90 crore as against Rs 401.42 crore.

Indraprastha gas limited to hike CNG prices today night

Indraprastha gas limited to hike CNG prices today night by 0.50 rs. Now CNG Prices will be 29.80, so accmulate IGL as much as you can

Baba Ramdev goes on indefinite strike against corruption

Baba Ramdev goes on indefinite strike against corruption and black money with his thousand of followers, He demands black money should be bought back in India. If this black money comes in India then our country will become debt free and inflation will goes to min. Level

Munjals decide to shift to own brand name

Munjals decide to shift to own brand name and decided to drop Honda tag much before agreed deadline of 2014, they will launch bikes by droping Honda tag e.g. Splendor will be called as X-Splendor instead of Hero Honda Splendor

Friday 3 June 2011

Mukesh Abani says they are not going into banking foray

Mukesh Abani says they are not going into banking foray.

Reliance AGM Dispoints Investors

Reliance AGM Dispoints Investors due to which RIL stock falls which leads to stock market fall

Mobile Data Traffic to increase by 114 fold by 2015

Mobile Data Traffic to increase by 114 fold by 2015 on growing stronger network and faster internet as reported CISCO

Inflation drops to 8.06%

Inflation drops to 8.06% for the week ended May 21,but price gain in fuel get increased as petrol prices increased

Timbe Homes IPO Update

Timber Homes IPO Subcribed 6 times, Timbe homes which is into manufacturing and retailing of Modular kitchen. The co. Expects to get 23 crore through sale of shares. Price band has been fixed at 54-63 rs.

SunTV, Spicejet Plunge as Maran Get into Lawsuit of 2G Spectrum

SunTV, Spicejet Plunge as Maran Get into Lawsuit of 2G Spectrum,Kalanithi Maran wealth erode by 3195 crore on Thrusday and bounced back on short covering on Friday. CBI is investigating Dayanidhi Maran's role in a 2006 in which Aircel was bought by Malaysia's Maxis group.

JSW And Essar Steel to Hike prices of Flat products

JSW And Essar Steel to Hike prices of Flat products to offset Input costs upto 1000 Rs. Per Tonne, while SAIL will keep prices at same rate and TATA STEEL yet to decide

NALCO to set 274 crore wind power project

NALCO to set 274 crore wind power project of 50.4 MW in Gandikota in Kadapa district of Andhra Prades, Wind power project will executed through Suzlon Energy Limited

Thursday 2 June 2011

ABG Shipyard has proposed a dividend of Rs 4 per equity share

ABG Shipyard has proposed a dividend of Rs 4 per equity share of Rs 10 each subject to approval from the shareholders

Court rejects plea to probe Anil Ambani, Ratan Tata, Niira Radia

Delhi court dismissed pleas for a direction to the CBI to make Reliance ADAG chairman Anil Ambani , Tata group Chief Ratan Tata , corporate lobbyist Niira Radia and DMK chief M Karunanidhi's wife Dayalu Ammal , as accused in the 2G spectrum scam.

GMR Stoped by Delhi HC from collecting airport development fee

Delhi HC stops GMR from collecting airport development fee in Delhi following PIL

Punj Lloyd bags contract from Abu Dhabi company

Punj Lloyd bags contract of Rs 890 crore from Abu Dhabi company for onshore oil operations

Wednesday 1 June 2011

Fiscal Deficit For this year reduced to 4.7%

Fiscal Deficit For this year reduced to 4.7% of GDP much lower than revised estimate of 5.1%, means deficit is down to 3.7 lakh crore from 4 lakh crore

Per capita income grows this year by 17.9%

Per capita income grows this year by 17.9% from 46,492 rs. To 54,835.

RIL is planning to increase third refinery capacity to 100 mtpa

RIL is planning to increase third refinery capacity to 100 mtpa,The current refining capacity at Jamnagar is at 62 mtpa

PSU Oil companies to cut ATF prices

PSU Oil companies to cut ATF prices by about 4% effective midnight

BEML Results

BEML posts Q4 net profit of Rs 70 crore versus Rs 157 crore and net sales of Rs 936 crore versus Rs 1,194 crore

Petronet LNG to get from Gazprom

Petronet LNG to get 2.5 mtpa LNG from Gazprom for up to 25 years

Buy Polaris Future

Buy Polaris future at 195.50 for Target of 198-200-202

Bata India Plans for rapid expension

After turning around an ageing large that Bata India was when he took it over six years ago, Marcelo Villagran has started the second a part of his unenviable mission - to rejuvenate the 80-year-old shoe complete to create the 20-25 olds, and even the kids, fall for it. "If the last 5 years were all concerning consolidation, following 5 years are all concerning enlargement," says the Bata India MD and CEO, who reworked the corporate from a degree of bankruptcy when he took over six years ago to 1 of the foremost profitable operations of the Swiss multinational globally.

Bata can introduce virtually four styles on a daily basis, open 70-100 stores of a minimum of 5,000 sq ft each year, and push its on-line sales to shed its image as a low-cost practical footwear complete that appeals to the 40-plus age cluster. It's an uphill task for a complete known for its sandals and entry-level shoes. But going by how Villagran has modified the corporate since taking it over in early 2005, Bata has all the rights to believe during a rival's tagline: not possible is nothing. A soft-spoken astute Spanish in his late 60s, Villagran closed many unviable stores and spawned them into large-format shops, overhauled product portfolio with the assistance of Bata's international style centre and refined producing and sourcing ways, to assist Bata start up of 3 years of continuous losses that peaked at sixty two crore in 2004 and steadily grow since then. In 2010, its internet profit rose forty second year-on-year to ninety five crore. The company scrip too bounced from 31-35 in 2002 to 460.55 on the Bombay Stock Exchange at Friday's closing. Villagran, who has spent virtually four decades in Bata, led this transformation from the front. he's sometimes the primary to enter workplace and therefore the last to go away. And he travels extensively round the country to implement his agenda. "Turnaround is simply a monetary word. what's additional vital is how the organisation has been utterly able to reinvent itself," he says.

Tata Steel has offloaded 51% stake in Tata Refractories

Tata Steel has offloaded 51% stake in group company Tata Refractories to Nippon Steel's associate Krosaki Harima Corporation and inducted the Japanese firm as a strategic partner. The deal is valued at 576.3 crore, going by valuation of Tata Refractories at Rs 1,130 crore.

Maruti Suzuki Sales May Month

Maruti Suzuki sold a total of 104073 vehicles in May 2011, up 1.9 per cent as compared to 102175 vehicles in the same period a year ago

Mundra Port acquisition of Abbot Point X 50 Coal Terminal

Mundra Port and Special Economic Zone has completed the acquisition of Abbot Point X 50 Coal Terminal

Sterling Biotech Results

Sterling Biotech has reported net profit of Rs 145.32 crore for the year ended March 2011 as compared to Rs 235.32 crore in the same period last fiscal. Total income was at Rs 1627.21 crore as against Rs 1447.03 crore