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Market News & Trends

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  1. #1
    insight95in
    insight95in is offline eTI Member

    Market News & Trends

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    HOT FROM THE PRESS

    * RIL: becomes largest natural gas producer in India as output touches >50mmscmd

    * NTPC : identifies 3 more coal blocks in Indonesia for acquisition

    * DHANALAKSHMI BANK : plans to raise R s4-5bn thru sale of shares in Q1 FY11

    * HDFC BANK:HDFC converts warrants issued by bk into shares 2 days before expiry

    * GLENMARK : plans to repay its debt of ~Rs 3bn by end of FY10

    * M&M : signs agreement to form JV with global weapon system manufacturer, BAE
    Systems.. JV to focus on land-based systems

    * LUPIN : Co sued by Depomed Inc to block a generic version of Glumetza
    diabetes drug

    * SAIL : to cut flat product prices by Rs 500/ton

    * CONSOLIDATED CONSTRUCTION : bags order worth Rs 4.05bn

    * AREVA T&D : Alstom SA & Schneider Electric win bid to acquire parents T&D unit

    * ABAN OFFSHORE : rpts co planning to list its Singapore subsidiary.. plans IPO


    Corporate News – Industry trends

    * NTPC Ltd, the country’s largest power generator, is eyeing acquisition
    of coal blocks in Indonesia in a bid to meet the increasing shortfall in
    the domestic supply of the dry fuel. “We have identified two-three
    more coal mines in Indonesia,” CMD RS Sharma said (BS)

    * After two consecutive hikes, state-run oil firms cut jet fuel by little
    over 1% in step with marginal easing of crude rates. Following
    this, aviation turbine fuel prices in Delhi will come down by Rs 455/KL
    to Rs 39,968/KL effective Monday midnight (BS)

    * Tata Steel said all shares of the company that were pledged by
    another group company Tata Motors have been revoked. Tata Motors
    has revoked 440,882 pledged shares, representing a 0.049% stake in
    the company (BS)

    * Cairn India has produced and sold a million barrels of oil from its
    Mangala oil field in Rajasthan, the nation’s most prolific on-land field.
    “Cairn achieved the milestone of successfully producing and delivering
    one million barrel of crude oil in the early hours this morning (BS)

    * Essar Oil has extended its “exclusive talks” to acquire three European
    refineries of Royal Dutch Shell beyond end of November. Essar had
    been working towards a deadline of November 30 for acquisition of the
    three European refineries (ET)

    * THE Mahindra Group will restructure its top management by
    inducting several fresh faces into its key decision-making body to
    reflect the US$6.7-bn conglomerate’s expanding business interests
    (ET)

    * Reliance Industries has become the largest natural gas producer in
    the country with its over 50 mn standard cubic metres per day
    (mscmd) output surpassing that of state-run Oil and Natural Gas
    Corp’s (ONGC) (BS)

    * Engineering and construction major L&T and Nuclear Power
    Corporation of India Ltd announced the formation of a joint venture
    to produce critical components for nuclear power plants such as special
    steels and ultra heavy forgings (BS)

    * Pharma major Glenmark Pharmaceuticals is planning to repay its
    debt of around Rs 3bn by end of this fiscal, said a top company official
    (ET)

    * Siemens the Indian unit of German major Siemens— announced the
    merger of Siemens Healthcare Diagnostics with itself, with effective
    from October 1 (ET)

    * UTV Motion sells TV rights of 18 movies for Rs 950 mn; Colors, NDTV
    Imagine Ink Syndication Deal That Includes 7 Unreleased Films Such
    As Shahid Kapoor-starrer Chance Pe Dance (ET)

    * The inflow of foreign direct investment in the Indian telecom
    sector has shot up to Rs 98bn in the first half of the current financial
    year, the Lok Sabha was informed on Monday. “The actual FDI inflow
    in the telecom sector during April-October 2008 was to the tune of Rs
    89bn, which has increased to Rs 98bn during April-September 2009
    (ET)

    * THE JSW Group, which was among the first conglomerates last year
    to hold back most of its major capital expenditure and greenfield
    projects due to the global financial crisis, has decided to revive two
    projects estimated to over Rs 20bn together, encouraged by an
    improvement in the overall manufacturing sector (ET)

    * The country's IT exports under the Software Technology Parks of
    India scheme logged an estimated Rs 834bn in the first half of the
    current financial year, with Bangalore accounting for over 30% of the
    total export basket (BL)

    * Consolidated Construction Consortium Ltd (CCCL), a Chennaibased
    integrated construction service provider, has bagged orders
    worth Rs 4050 mn, according to information it has given to the stock
    exchange (BL)

    * The Oriental Bank of Commerce (OBC) will raise Rs 3bn through
    perpetual bonds in about a week's time, according its Executive
    Director, Mr H. Ratnakara Hegde (BL)

    Economic/Regulatory development

    * India’s gross domestic product (GDP) grew 7.9% in July-
    September 2009, up from 6.1% the previous quarter, beating
    expectations and fuelling speculation that the government might look
    at exiting stimulus measures (BS)

    * India today proposed to invest US$6.5 bn to develop gas fields in
    Iran and sought more liquefied natural gas (LNG) from that country
    (BS)

    * Telecom regulator Trai said it was looking at the possibility of
    revisiting the telecom tariff issues which are currently determined by
    market forces. “We are looking at the desirability and feasibility of
    relooking the tariffs as a whole. We have not made up our mind,” Trai
    chairman JS Sarma said (ET)



  2. #2
    priya0710
    priya0710 is offline eTI Iron
    Sensex, nifty and bank nifty closed on a negative note today. To sustain in market by earning good returns it is required to have a very good knowledge of recent market updates.

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