Wednesday, April 28, 2010

NEWS 28-04-2010

Inflation's Coming V-Shaped Recovery
Inflation has made an even more salient comeback than the economy has. While the Standard & Poor's 500 has risen 80% since its March 2009 low, inflation indicators across the board have also gone into overdrive.

S&P cuts Greek debt to junk, downgrades Portugal

Markets in Europe and the United States tumbled in reaction to signs that the Greek debt crisis was spreading to other highly indebted states on the periphery of the euro zone.


VIX Surges 31% in Biggest Jump Since 2008 on Greece Downgrade

The VIX, as the benchmark index for U.S. options is known, surged 31 percent to 22.81, the highest level since Feb. 11. The index measures the cost of using options as insurance against declines in the Standard & Poor’s 500 Index



The Cohesion Crisis
What we’re really seeing now is a crisis of the “cohesion countries” — the countries that entered the EU relatively poor, and for a time received substantial aid in the form of “cohesion funds”.

Govt will pay brokers to sell PSU shares
“Retail participation has been poor in the past issues. We have decided to pay a commission of 35 basis points for retail and 15 basis points for HNIs (high networth individuals) to ensure higher participation,” said Sidhartha Pradhan, joint secretary in the disinvestment department in the ministry of finance.

The fisc strikes back

RBI governor D. Subbarao, in a speech in Washington, DC, on Monday, noted how it’s only since 1997 that fiscal policy stopped dominating the monetary side. RBI no longer automatically monetizes deficits, and Parliament has set clear rules for fiscal discipline.


India Plans to Sell Stake in Biggest Company by March 

India may sell a stake in the nation’s biggest company as part of a plan to raise a record 400 billion rupees ($9 billion) from asset sales and use the proceeds to reduce the government’s budget deficit.


Gas highway authority plan put on back burner
We already have pipeline connectivity in the northern and western regions. By 2012, large areas of southern region will also get covered as a result of new pipelines that are being set up by GAIL and Reliance Gas Transportation Infrastructure Ltd (RGTIL).

Jindal Steel, RCI In Pact For Three Projects
While Jindal will provide 50 acres land at its existing coal handling and washing plant in Raigarh, RCI will act as a project manager during construction phase and provide technical back-up.

Govt rules out hike in export duty on iron ore fines
The minister acknowledged that the sharp rise in steel prices was an issue of concern which has been discussed by a group of ministers chaired by finance minister Pranab Mukherjee.

Welspun Guj eyes buys in Middle East, America
Investments by Indian firms in the oil and gas sector are growing at a rapid clip, with top-listed conglomerate Reliance Industries agreeing to pay $1.7 billion to take a 40 percent stake in U.S.-based Atlas Energy's operations in the booming Marcellus shale gas project.

Shree Renuka Q2 jumps, price slide seen weighing
In Kolhapur, a key market in top sugar producer Maharashtra, the price of the most traded S-variety has fallen over a third since a record high of 3,972.3 rupees on Jan. 7 due to government curbs to control price rise

Yes Bank targets loan growth of 40-45 pct in FY11
Yes Bank's loans in the March quarter rose 78.9 percent, while interest margin was at 3.2 percent on higher disbursements to corporates and trade finance, Kapoor said.

Power Finance to seek infrastructure fin co status
Following the RBI nod, it expects to tap capital markets in a year's time as it would require additional capital to meet capital adequacy norms for infrastructure companies, he added.

Infy eyeing at least two deals every quarter
Enterprise solutions, which consist of consulting services and packaged implementation, accounted for 26 per cent of the company's revenue for the quarter ended March 31, 2010.

Cipla ties up with Stempeutics for stem cell therapies
The expected current stem cell therapy market in India is about $540 million (Rs 2,395 crore) and will grow rapidly, said Jaideep Gogtay, medical director, Cipla. Stempeutics is currently developing eight stem cell based therapies. Of this, two products are under clinical trial in India and another two in Malaysia.

Unitech sold property worth Rs 7,033 crore
Of the total sales booked, nearly Rs 5,000 crore (Rs 50 billion) came from housing, while the non-residential segment contributed Rs 2,056 crore (Rs 20.56 billion) to overall sales, the presentation said.

2 comments:

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