Vedanta Aluminium Ltd, a unit of Vedanta Resources Plc said on Wednesday it would invest 200 billion rupees ($5 billion) in India to build an aluminium smelter and a power plant in the eastern West Bengal state.3 years..
"RIM operates in more than 130 countries around the world and respects the regulatory requirements of governments. RIM does not comment on confidential regulatory matters or speculation on such matters in any given country," a spokeswoman in Hong Kong said.
"This is ... a trend we are seeing in the last 3 to 4 months. The number has come in lower, which suggests a slowdown in consumption demand, moderation in exports and slowdown in investment demand," said Abheek Barua, chief economist at HDFC Bank.
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* The federal government will soon act on a proposal to attach shares worth more than 1 trillion rupees lying in nearly 2 million frozen demat accounts due to non-disclosure of the income tax Permanent Account Number.
* Goldman Sachs is buying 20 percent of Shriram Credit for 3 billion rupees. The deal values Shriram Credit at 15 billion rupees.
* Sony BMG India has signed a 1-billion-rupee deal with Vishesh Films to produce four Hindi-language movies.
* Financial Services firm India Infoline has bought an IT park in Chennai for about 800 million rupees.
* Newsprint prices have shot up by 24 percent in the last three months to touch a high $760 a tonne, hitting publishing firms.
* UTI Asset Management Co has delayed its initial public offer due to differences in valuation in pre-IPO deals and market conditions.
* Jaiprakash Infratech, an unit of Jaiprakash Associates Ltd , is set to raise 10 billion rupees from ICICI Ventures.
* The Anil Dhirubhai Ambani group is likely to raise $2.5-3 billion in debt overseas and is in talks with Standard Chartered , Citigroup and Merrill Lynch for anchoring the deal.
* Reliance Entertainment Pvt Ltd, part of the diversified Anil Dhirubhai Ambani group, plans to launch 20 television channels, including news channels.
* NTPC Ltd is in talks with a few firms including Tata Consultancy Services and Power Finance Corp to set up a power exchange. Similar plans for an exchange by the same group of firms along with NCDEX, a commodity exchange, and the National Stock Exchange of India had fallen through.
(1 dollar = 40.45 rupees) Source : Reuters and Indian Newspapers
The markets turned volatile in late trade and the Sensex closed at 16,127.98 up by just 4.83 points 0.03%.
RPG Cables Ltd. rose 2.34%. The company has secured an order worth USD 25 million for supply of medium voltage and low voltage cables of various sizes.
Tata Communications Ltd. jumped 5.43%. The company is looking to raise USD 1 billion to partly fund its expansion plans for next 3 years.
Suven Life Sciences spiked up 7.90%. The company has entered into a drug discovery pact with EliLily, a US based global pharmaceutical company.
Marico Ltd. declined 4.19%. The company is exiting processed foods business by selling its Sil brand to Danish business house, Good Food Group.
Strides Arcolab Ltd. dropped 1.82%. The company has received approval from US Food and Drug Administration for its penicillin sterile facility in Bangalore.
Cinemax India Ltd. declined 0.15%. The board has decided to explore various opportunities available in food court and gaming business.
"RIM operates in more than 130 countries around the world and respects the regulatory requirements of governments. RIM does not comment on confidential regulatory matters or speculation on such matters in any given country," a spokeswoman in Hong Kong said.
"This is ... a trend we are seeing in the last 3 to 4 months. The number has come in lower, which suggests a slowdown in consumption demand, moderation in exports and slowdown in investment demand," said Abheek Barua, chief economist at HDFC Bank.
===
* The federal government will soon act on a proposal to attach shares worth more than 1 trillion rupees lying in nearly 2 million frozen demat accounts due to non-disclosure of the income tax Permanent Account Number.
* Goldman Sachs is buying 20 percent of Shriram Credit for 3 billion rupees. The deal values Shriram Credit at 15 billion rupees.
* Sony BMG India has signed a 1-billion-rupee deal with Vishesh Films to produce four Hindi-language movies.
* Financial Services firm India Infoline has bought an IT park in Chennai for about 800 million rupees.
* Newsprint prices have shot up by 24 percent in the last three months to touch a high $760 a tonne, hitting publishing firms.
* UTI Asset Management Co has delayed its initial public offer due to differences in valuation in pre-IPO deals and market conditions.
* Jaiprakash Infratech, an unit of Jaiprakash Associates Ltd , is set to raise 10 billion rupees from ICICI Ventures.
* The Anil Dhirubhai Ambani group is likely to raise $2.5-3 billion in debt overseas and is in talks with Standard Chartered , Citigroup and Merrill Lynch for anchoring the deal.
* Reliance Entertainment Pvt Ltd, part of the diversified Anil Dhirubhai Ambani group, plans to launch 20 television channels, including news channels.
* NTPC Ltd is in talks with a few firms including Tata Consultancy Services and Power Finance Corp to set up a power exchange. Similar plans for an exchange by the same group of firms along with NCDEX, a commodity exchange, and the National Stock Exchange of India had fallen through.
(1 dollar = 40.45 rupees) Source : Reuters and Indian Newspapers
India's annual industrial output growth showed output grew 5.3 percent from a year earlier, markedly below forecasts in a Reuters poll for 8.0 percent.
"This will slow down the growth which is not good news for the markets," said Jayesh Shroff, fund manager with SBI Mutual Fund.The benchmark 30-share BSE index finished up 0.03 percent, or 4.83 points, at 16,127.98, with 16 components gaining, after rising as high as 16,683.37 in early trade.
The markets turned volatile in late trade and the Sensex closed at 16,127.98 up by just 4.83 points 0.03%.
RPG Cables Ltd. rose 2.34%. The company has secured an order worth USD 25 million for supply of medium voltage and low voltage cables of various sizes.
Tata Communications Ltd. jumped 5.43%. The company is looking to raise USD 1 billion to partly fund its expansion plans for next 3 years.
Suven Life Sciences spiked up 7.90%. The company has entered into a drug discovery pact with EliLily, a US based global pharmaceutical company.
Marico Ltd. declined 4.19%. The company is exiting processed foods business by selling its Sil brand to Danish business house, Good Food Group.
Strides Arcolab Ltd. dropped 1.82%. The company has received approval from US Food and Drug Administration for its penicillin sterile facility in Bangalore.
Cinemax India Ltd. declined 0.15%. The board has decided to explore various opportunities available in food court and gaming business.
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