Weekly Roundup 140111

8/4/2019 Weekly Roundup 140111

1/21

For Private Circulation January 14, 2011 Page 1

Weekly Roundup

Trade Statistics for Jan 1014 2011Period (Jan 1014 2011)

Date Scrips

Traded

No. of

Trades

Traded

Qty.(Cr.)

Total

T/O

(Cr.)

14/01/11 3024 1668243 31.91 3148.00

13/01/11 3014 1726557 28.09 3564.44

12/01/11 3054 2187600 40.25 3992.25

11/01/11 3050 1775181 27.13 3416.26

10/01/11 3046 1741174 32.62 3516.59

No. of trades 31229954

Traded Qty. (lakh shares) 34393.95

Traded Value (Rs. crores) 70115.51

Day wise Turnover of NSE

Trade Statistics for Jan 10 14, 2011

Day wise Turnover of BSE

Markets Closed stumpy:

On Friday markets ended in red, due to heavy selling

pressure from investors, increasing the concerns of

further decline in the coming weeks. The Bombay

Stock Exchanges Sensex dipped below the 19,000

mark on Friday for the first time in four months. The

benchmark Sensex closed down 322 points at

18,860 on Friday. Capital Goods, Realty, Banking,

Oil&Gas, PSU, Power sectors were the major

contributors to the sensex fall.

BSE Midcap Index was down 1.30 per cent and BSESmallcap Index moved 1.08 per cent lower.

Due to the fears of increasing inflation and the

Interest rates the National Stock Exchanges Nifty

ended at 5646.35, down 105.55 points or 1.84 per

cent. The broader index touched a low of 5639.65

and a high of 5833.65 intraday.

US stock markets rose Friday led by the financial

sector, as tepid US data and China's move to curb

inflation did little to dampen sentiment. The Dow

Jones Industrial Average rose 55.48 points (0.47

percent) to 11,787.38 at the close.

Mixed trends were seen in Asian markets. Japans

Nikkei 225 was down 43.24 points or 0.41 per cent at

10,546.52. Hong Kongs Hang Seng rose 108.28

points or 0.45 per cent to 24,347.26. Singapores

Straits Times was down 19.56 points or 0.6 per cent

at 3,236.31. South Koreas Kospi was up 4.67 points

or 0.22 per cent at 2,094.15.

Australias S&P/Asx 200 was down 1.4 points or 0.03per cent at 4,793.80. Chinas Shanghai Compositeshed 26.59 points or 0.94 per cent to 2,801.12.Taiwans Taiex fell 15.54 points or 0.17 per cent to8,960.04.

Khalida [email protected]


2/21


BSE Top Gainers & Losers of the Week

Top Gainers Top LosersSymbol Current Price % Change Symbol Current Price % Change

Lord Chemicals 112.80 79.47 Sujana Towers 25.70 -81.64Vikas GlobalOne 70.80 34.73 RR Financial C 42.45 -56.90

TCI Finance Ltd. 72.30 34.14 Shopper Stop 339.10 -54.84

Cupid Trade & Fin 96.10 27.54 RaveKumar Dis 38.05 -33.42

Sampada Chemi 238.10 27.53 Raj Packaging 43.95 -28.71

NSE Top Gainers & Losers of the Week

Top Gainers Top Losers

Symbol Current Price % Change Symbol Current Price % Change

TCI Finance 72.50 34.01 Sujana Towers 25.95 -81.38

PVP Ventures 13.90 18.30 Shoppers Stop 336.70 -55.11

Tata Coffe Ltd. 557.50 14.62 RaviKumar Dis 38.05 -33.60

Antarctica Ltd. 0.40 14.29 Jupiter Bioscie 33.90 -27.10

Blue Star Infotec 127.70 13.87 Agre Developer 59.20 -26.55

Index % Change

S&P CNX Nifty -1.69%

NSE CNX 100 -1.65%

S&P CNX 500 Equity -1.57%

CNX Midcap -1.36%

CNX Nifty Junior -1.45%

S&P CNX IT Sector .06%

CNX Bank -2.64%

Nifty Midcap 50 -1.77%

S&P CNX Defty -2.14%

NSE Index
http://economictimes.indiatimes.com/indexsummary.cms?indexid=2369&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2510&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2371&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2371&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2495&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2346&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=186&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=1913&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2907&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2370&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2370&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2907&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=1913&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=186&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2346&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2495&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2371&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2510&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2369&exchangename=


3/21


Index % Change

BSE Sensitive -1.68%

BSE 200 -1.68%

BSE 500 -1.61%

BSE Mid-Cap -1.18%

BSE Small-Cap -1.03%

BSE National -1.73%

BSE I.T Sector -.08%

BSE Metal -2.44%

BSE Capital Goods Sector -1.89%

BSE BankEx -2.62%

BSE Public Sector Undertaking -1.65%

BSE Auto -2.31%

BSE Realty -2.77%

BSE Power -1.04%

BSE Oil & Gas -1.44%

BSE TECk -.43%

BSE Health Care Sector -.71%

BSE Fast Moving Consumer Goods Sector -.89%

BSE Consumer Durables Sector -.93%

BSE Dollex -2.15%

BSE Dollex 30 -2.14%

BSE Dollex 100 -2.19%

BSE Index
http://economictimes.indiatimes.com/indexsummary.cms?indexid=2365&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2364&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2342&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=1906&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2022&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2340&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2157&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2449&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2273&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2647&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=6929&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2416&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2739&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=12356&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2555&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=10968&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2276&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2274&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2274&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2275&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2275&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2341&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2341&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=9999&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2090&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2090&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=9999&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2341&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2275&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2274&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2276&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=10968&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2555&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=12356&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2739&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2416&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=6929&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2647&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2273&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2449&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2157&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2340&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2022&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=1906&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2342&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2364&exchangename=http://economictimes.indiatimes.com/indexsummary.cms?indexid=2365&exchangename=


4/21


Weeks announcements

Markets:

SEBI warns of Iran money in stock market - In order to safeguard Indian marketsfrom money laundering and terror financing risks from Iran, watchdog SEBI has asked marketplayers to be cautious in dealing with entities and funds from that country. The warning has beenissued to stock exchanges and other market intermediaries by SEBI through a circular, containinga global financial market caution notice on Iran by the Financial Action Task Force (FATF). FATFis an inter-governmental body responsible for making policies at national and international levelsto combat money laundering and terror financing. The stock exchanges, in turn, have askedbrokers to ensure compliance with the SEBI circular. As per the warning, all the financialinstitutions have been advised to give special attention to business relationships andtransactions with Iran, including Iranian companies and financial institutions. India became amember of FATF last year, following which the country needs to follow the global standards setby it against money laundering and terror financing activities. Paris-based FATF informs thecentral government of its member countries about all its caution notices and policies, which in

turn are forwarded to the concerned enforcement and regulatory agencies. The latest cautionnotice on Iran was issued by FATF late last year to Indian government, which later forwarded the same to SEBI and the regulator has now forwarded to market intermediaries.

SEBI allows Indian investors to trade in global indices - Market regulator SEBIpaved the way for Indian investors to trade in large indices of 24 global exchanges, including thatof US, Europe and Asia. As per a SEBI circular, Indian exchanges will be able to provide tradingin derivatives contracts of these global indices. Interestingly, one of the world's largest boursesLSE, with whom two Indian exchanges NSE and MCX SX have tied up for cross listing of theirindices, is not on the list approved by SEBI for the new guidelines. The index should have amarket capitalization of at least USD 100 billion and it should consists of at least 10 constituentstocks. The SEBI today also allowed indices of Tokyo Stock Exchange, Hong Kong Exchanges,among others, to trade in Indian bourses.

SEBI keen on setting up SME exchanges: Bhave - The Securities and Exchange

Board of India said that it is looking into the idea of setting up of SME exchanges even though nobourses have formally approached it. The proposed SME bourses will allow small companies toget listed at a lower cost and raise smaller amount of money from the primary markets, which willforce these companies to adopt better corporate governance practices and in turn will getcheaper funds from the capital market as well as from banks.

Shekhawati Poly-Yarn debuts at 66% premium on NSE - Textile firm ShekhawatiPoly-Yarn today made a stellar debut on the bourses by opening at a premium of over 66 percent against its issue price of Rs 30 on the National Stock Exchange (NSE). On the NSE, thescrip got listed at Rs 50 per piece, reflecting a jump of 66.66 per cent from its issue price.

SBI, Airtel jt venture to offer mobile banking services - State Bank of India, thecountrys largest lender, and telecom giant Bharti Airtel, entered into a joint venture to makeavailable banking services to the countrys unbanked population. The new entity will start up withan investment of Rs 100 crore to add value to the banking and financial services sector. With this

joint venture, the existing, new Airtel and other mobile customers will be able to visit these outletsand open new SBI bank accounts and avail themselves of other banking products and servicesavailable at the CSPs. Additionally, existing SBI customers will also get serviced at these outlets.

ICICI Bank, Vodafone inks pact for mobile banking - ICICI Bank on Wednesdayentered into an agreement with mobile service provider Vodafone Essar to offer financial productssuch as savings accounts and pre-paid instruments. This partnership is expected to bring theunbanked and under-banked population into the organized financial services framework andassist in furthering the electronic payments market in India, both the companies said in a jointstatement.


5/21


RBI may hike interest rate by 25 basis points: SBI - State Bank of India ChairmanMr. O P Bhatt expects the Reserve Bank to raise its key policy interest rates by at least 25 basispoints in the forthcoming quarterly review to tame inflation. All the think tanks in the country aresaying that inflation should come down to 7 per cent by March, he said, adding, some of the pricerise are structural.

Motilal Oswal launches Midcap ETF - Motilal Oswal Asset Management Company has

launched Indias first open ended exchange traded fund which seeks to track the CNX MidcapIndex. An exchange traded fund (ETF) is an investment fund traded on stock exchanges, muchlike stocks.

Fortis Global to be listed overseas - Fortis Global yesterday night announcedacquisition of two healthcare networks in Hong Kong and Australia. The company, which focuseson delivery of healthcare in Asian countries, would see more acquisitions this year. Besides, thecompany also launched the third Fortis medical facility in the Kolkata. Singapore-based FortisGlobal Healthcare Pvt Limited would be listed on overseas stock markets.

Edelweiss Tokio gets initial R1 nod from IRDA - Edelweiss Tokio Life InsuranceCompany, a joint venture between Edelweiss Capital and Tokio Marine, has received the initialR1 approval from the Insurance Regulatory and Development Authority (IRDA). R1 is the firststep of regulatory clearance required for carrying on the business as a life insurance company inIndia. Tokio Marine is one of the worlds largest insurance groups headquartered in Japan. With

over 130 years of experience in the insurance sector, it has expanded its reach acrossgeographies in life and non-life insurance sectors.

SKS Microfinance to charge tiny loans at 24.55% - - SKS Microfinance on Tuesdaysaid it was reducing interest rates and would charge 24.55 per cent per annum from all categoriesof small borrowers. SKS Microfinance, which has been in the news for sacking its MD & CEO MrSuresh Gurumani and allegedly using coercive methods for recovery of loan, used to chargeabout 28-31 per cent interest from small borrowers. According to state government officials, about30 persons reported to have committed suicide in Andhra Pradesh during September-Octoberlast year due to harassment by microfinance companies. The spate of suicides and report ofharassment by microfinance companies had prompted the Andhra Pradesh government to comeout with an Ordinance to put a check on the activities of the microfinance companies.

IndusInd Bank hikes FD rates by 25 bps - Private sector lender IndusInd Bank hasincreased its fixed deposit rates by 25 basis points on select maturities effective January 8. The

interest rate on fixed deposits with a maturity period of 1-2 years has been increased by 25 basispoints to 9 per cent, IndusInd Bank said in a statement. Besides, fixed deposits with a maturityperiod of 400 days would now attract 9.5 per cent return from the existing 9.25 per cent. At thesame time, 900-days term deposit has been hiked from 9.25 per cent to 9 per cent.

SEBI bars Anil Ambani, 2 group cos from secondary market - Market regulatorSEBI today barred Anil Ambani led Reliance Infra and RNRL from investing in secondary markettill 2012, besides imposing a charge of Rs 50 crore for settling a probe into alleged unfair marketdealings by the two firms. The top officials of the two companies, including Chairman Mr. AnilAmbani, have also been barred from investing in secondary market till December 2011.However,debarment of companies and officials does not apply to investments in mutual funds, primarymarket issues, buybacks and open offers. The other officials named in the order include RelianceInfra Vice Chairman, Mr. Satish Seth and three directors Mr. S C Gupta, Mr. Lalit Jalan andMr. J P Chalsani.


6/21


Currency

Rupee among most traded in futures market: Report - The Indian rupee is fastemerging as one of the most-traded currencies at the futures market on increased exchange ratevolatility coupled with improved profits due to simultaneous purchase and sale of the futures.

According to Washington-based Futures Industry Association, the Indian rupee was the worldsthird most-traded currency at the futures markets in the first half of 2010, followed by the dollarand the euro.

Commodity

Farm credit disbursement to exceed target - The government said it has disbursedfarm credit worth Rs 2.28 lakh crore in the first seven months of 2010-11 and expects to exceedthe target of Rs 3.75 lakh crore for the financial year. During the 2009-10 fiscal, the total creditdisbursement was to the tune of Rs 3.84 lakh crore whereas the target was Rs 3.25 lakh crore,the release said. The total flow of credit to agriculture sector has gone up from Rs 86,981 crore in2003-04 to Rs 3.84 lakh crore in 2009-10, the release said. Of the total credit of Rs 2.28 crore

disbursed to the farm sector, maximum loans to the sector were given by commercial banks.During the current fiscal, commercial banks disbursed Rs 1.71 lakh crore as agricultural loansfollowed by co-operative banks, which had disbursed loans worth Rs 34,299 crore to farmers inthe first seven months of the current fiscal. The total loan disbursed by Regional Rural Banks inthe current fiscal till October stood at Rs 23,434 crore.

Gold, silver continues to slide on weak global cues - Both the precious metals,gold and silver continued to slide for the third straight day on increased selling by stockiest intandem with a weak trend in overseas markets. While silver dropped by Rs 500 to Rs 44,000 perkg, gold by Rs 145 to Rs 20,535 per 10 grams. Selling pressure gathered momentum as goldplunged in global markets as regaining confidence that European Union leader might stabilize thebloc's economy, reducing the appeal of the metal as a haven. Gold in global markets, whichnormally set a trend on the domestic front here, tumbled by 12.20 dollar to 1361.80 dollar anounce.

Corporate

Edelweiss Securities offers equity trading on Mobiles - Edelweiss Securities web-based securities trading platform has started equity trading on mobile phones for its customers.

Through trading on the GPRS-enabled mobile phones, customers will be able to view their order

book and will be in a position to take stock of their holdings.

Patni Computer jumps after board nod for stake sale to iGate - US-based iGatehas acquired nearly 63 per cent stake in the countrys sixth largest IT firm Patni Computer

Systems for $1.22 billion. iGate will buy 45.6 per cent stake of the companys three founders

Narendra Patni, Gajendra Patni and Ashok Patni along with 17.4 per cent stake of private

equity firm General Atlantic, the iGate CEO, Mr. Phaneesh Murthy, told reporters here. The deal

is expected to be completed in the first half of 2011 after acquiring all the regulatory approvals.


7/21


Konica Minolta eyes 25% share of Indian printing market this year - Japan-based Konica Minolta, which discontinued its camera business globally in 2006, on Monday

announced its plans to capture up to 25 per cent share of Indian printing market by year-end. The

company has been supplying printing equipment, including printers and photo-copiers, since

1982 in India through distributors, has recently set up a wholly-owned subsidiary in the country.

the company will open offices across India and enhance distribution channel during the year as

part of the strategy to strengthen its presence here. Dominated by companies like Xerox and

Canon, Indias printing market is estimated to be around four lakh units in volume terms. The

company, today launched a range of printers under Bizhub brand and said it has plans to launch

more products targeting businesses and individuals.

Tata Sky offers a-la-carte service - DTH major Tata Sky on Monday launched its a-la-carte channel offering that will allow customers to choose and pay for the channels they want towatch. Tata Sky is the first operator to launch this service, which follows sectoral watchdogTelecom Regulatory Authority of India (TRAI)s orders for digital platforms to offer consumers thechoice of paying only for channels that they wish to watch.

Coca-Cola, ISB to set up retail academy - Coca-cola and Indian school of Business(ISB) launched a retail academy, an initiative aimed at identifying and nurturing much needednew leadership in the retail sector. They signed a MoU for starting the ISB Retail Academy whichwill offer a Certificate programme in Strategic Retail Management (CSRM) involving four days ofclass rooms a month for six months for senior retail professionals. It will allow them to carry onwith their work, while giving them enough action learning and company-specific projects andonline modules. The applications were invited between Feb 1 and May 15 and that the first batchof the programme, with about 40 students, would start from July 18 this year.

IDC, CyberMedia to end 24-year market research ties - Bringing an end to a 24-year partnership focused on IT research activities, global entity IDC and diversified group CyberMedia will now be pursuing their own market research business plans from March. CyberMediawas IDCs partner and representative for its research business in India. The partnership, whichstarted in 1987, provided data and trend analysis to the information and communicationstechnology (ICT) industry in India. IDC will set up a wholly-owned India research business unit inBangalore which is expected to start operations in the first quarter of 2011.

Essar Oil starts gas production from Raniganj CBM block - Essar Oil said it hasstarted gas production from its Raniganj coal bed methane (CBM) block in West Bengal and willachieve peak output in 2-3 years. The company is producing 90,000100,000 million standardcubic metres per day of gas from below coal seams (coal bed methane) in the Raniganj block inWest Bengal. The Raniganj coal bed methane (CBM) block will touch a peak output of over 3million standard cubic metres per day in 23 years. Essar Oil is investing $300 million for CBMgas production. The gas is sold to a local fertilizer plant at $4.2 per million British thermal units.The company had last year signed production sharing contracts (PSCs) for four CBM blocks ithad won under the recently concluded fourth round of auction. It now has five CBM blocks toproduce gas from below coal seams. The Raniganj block in West Bengal has inplace resourcesof 4.6 trillion cubic feet (tcf) and recoverable resources of around 1 tcf. In the Rajmahal block, oneof the four areas for which Essar signed a PSC last year; the in-place resources have beenestimated at 9.5 tcf, with recoverable resources of 4.7 tcf. So far, the government has awarded 32CBM blocks, holding 62 trillion cubic feet of gas reserves, to different companies.

Hinduja Foundries Ennore unit resumes operations - With reference to the earlierannouncement dated January 5, 2011, regarding disruption of operations at the companysEnnore Unit, Hinduja Foundries Ltd has now informed BSE that the unit has resumed operationsfrom January 11.


8/21


Hexaware proposes bonus, to pay 50% special interim - Hexaware TechnologiesLtd has informed BSE that the board of directors of the company at its meeting held on January11, has recommended issue of bonus shares in the ratio of one equity share of Rs 2 each fullypaid up for every existing one equity share. The bonus shares shall be credited on or beforeMarch 9. It has also proposed reclassification of authorized share capital from preference sharecapital to equity share capital as follows to enable the bonus issue: 30,00,000 preference shares

of Rs 100 each into 15,00,00,000 equity shares of Rs 2 each. An extra-ordinary general meetingof the shareholders of the company shall be held on February 15 to approve the issue of bonusshares, reclassification of authorized capital and other special business. Further the company hasinformed that the board has also declared a special interim dividend for the year 2010 at Re 1 pershare of Rs 2 each (50 per cent).

Wikipedia set to open India office - Wikipedia, the online encyclopedia, is set to open itsfirst overseas office outside of the United States in India, which will focus on expanding itsdatabase in Hindi and all other official languages of the country. India was chosen because of itslarge population and increasing number of people using the Internet especially through mobilephones, according to Ms Sue Gardner, chief of Wikimedia, which is the non-profit organizationbehind Wikipedia. After India, the San Francisco-based online encyclopedia plans to expand toBrazil and then to West Asia and North Africa. In the coming years, Wikipedia will also be pushingto increase the information it provides in non-English languages as well.

LIC cuts stake in Hindustan Unilever to 6.95% - FMCG giant Hindustan Unilever(HUL) said that Life Insurance Corporation of India (LIC) has reduced its stake in the company to6.949 per cent by selling its shares in the market. LIC, which held 8.949 per cent in the FMCGfirm as on November 21, 2007, has sold 45,935,297 shares aggregating 2 per cent stake in thecompany at a value of Rs 1,254.6 crore, HUL said in a filing to the Bombay Stock Exchange.

GAIL signs contract to import LNG cargo from Qatar - GAIL India will import ashipload of LNG from Qatar in January to meet the rising energy demand this winter season. Thecompany has signed contract with RasGas of Qatar to import one cargo of liquefied natural gas(natural gas cooled to -162 degree Celcius to temporarily convert it into liquid form for ease oftransporting in cryogenic ships) this month. In October last year, the company signed a three-yeardeal with Marubeni to buy 0.5 million tonnes of LNG beginning in 2011. Besides Dahej, theMarubeni cargoes may also go to the 5-mt a year Dabhol terminal in Maharashtra which isnearing completion.

Lupin gets USFDA approval for arthritis drug - Lupin on Friday said it has receivedfinal approval from US health regulator to market Nabumetone tablets, used in treating arthritis, inthe American market. The companys unit, Lupin Pharmaceuticals Inc has been granted finalapproval by US Food and Drug Administration for Nabumetone tablets in strengths of 500mg and750mg, Lupin said in a statement. Nabumetone is the generic equivalent of GlaxoSmithKlinesRelafen tablets, indicated for acute and chronic treatment of osteoarthritis and rheumatoidarthritis.

US notification to lift ban on ISRO, DRDO soon - US has set in motion regulatorychanges to lift the ban on Indias frontline technology establishments ISRO and DRDO and theirremoval from the entities list could come soon, top American officials have indicated. A formalnotification of the US Department of Commerce for this is in advanced stage, they said.


9/21


MOUs/IPOs/Mergers/Acquisitions/Right Issues/Settlements

R-Power signs agreement with NTPC - Reliance Power signed the Power PurchaseAgreement with NTPC Vidyut Vypar Nigam Ltd (NVVNL), a wholly-owned subsidiary of NTPC forits 100 MW Solar Thermal Power Project., Reliance Power won this project in tariff-based

competitive bidding under the governments Jawaharlal Nehru National Solar Mission. The projectwhich is being set up in Jaisalmer is expected to be commissioned within the next 28 months i.e.by May 2013. The Jawaharlal Nehru National Solar Mission is a major initiative of the centre andstate governments to promote ecologically sustainable growth while addressing Indias energysecurity challenge.

DuPont to buy Denmark firm Danisco for $5.8 b - Global chemicals major DuPontwill acquire Denmarks enzyme and specialty food ingredients maker Danisco for $5.8 billion.Both the companies have presence in India. As part of the deal, DuPont would shell out cashworth $5.8 billion apart from assuming Daniscos debt to the tune of $500 million. The deal isexpected to close in the second quarter of the year. DuPont would fund the transaction with $3billion in existing cash and the remaining amount through debt.

Comviva enters into partnership with Airtel Bangladesh - Value Added Servicesfirm Comviva on Monday said it has entered into a strategic partnership with Airtel Bangladesh to

provide messaging solutions. The company will offer messaging solutions under its UnstructuredSupplementary Service Data (USSD), Short Message Service Centre (SMSC) and BMG (BulkMessaging Gateway) portfolio. The solution will also provide Airtel Bangladesh with a single-window web-based environment to access, create, execute and manage services. The BMGsolution will create a new revenue opportunity for airtel and will enable promotions and corporatemessaging helping the operator deliver a better message management over SMS.

GSPC to buy natural gas from Gazprom - Gujarat State Petroleum Corporation(GSPC) said it has inked agreement with the Gazprom Marketing and Trading (GM and T)Singapore Pte., for supply of 0.3 million tones of Liquefied Natural Gas over a two-year period.Under the agreement, a unit of Russian gas major OAO Gazprom, GM and T, will sell 0.3 MT ofLNG to GSPC over a two- year period, beginning from second half of 2011, Mr Ray said in astatement.

Intel settles patent dispute with NVidia; to pay $1.5 bn - Global chip maker Intel

has agreed to pay graphics card developer NVidia $1.5 billion in a six-year, cross-licensingagreement, resolving a patent dispute between the two companies. The dispute between the twocompanies was due to the terms of a 2004 agreement, under which Intel granted NVidia accessto some of its technology for use in its chipsets. Intel sued NVidia in February 2009, alleging thatthe latter should pay for a new license to make chipsets that were compatible with Intels latestprocessors. NVidia countersued claiming the 2004 license with Intel covered thosemicroprocessors. Under the new agreement, Intel will have continued access to NVidias fullrange of patents. In return, NVidia will receive $1.5 billion in licensing fees and retain use ofIntels patents, excluding Intels proprietary processors, flash memory and certa in chipsets for theIntel platform. The existing agreement is to expire March 31, 2011. Pursuant to US GAAP, aportion of the proceeds will be accounted for and attributed to the settlement of prior legal claims

Apollo Tyres inks pact with TN Govt - Tyre manufacturer Apollo on Tuesday signed asupplementary MoU with the Tamil Nadu government for increasing its investments in the state to

Rs 2,100 crore as part of its Greenfield project. With the additional investment the plant capacitywould be increased to 6,000 truck and bus radial tyres per day along with 8,000 passenger carradial tyres per day. With the additional investment the plant capacity would be increased to6,000 truck and bus radial tyres per day along with 8,000 passenger car radial tyres per day. Inthis regard, a supplementary MoU was signed today between Apollo Tyres Chief (Projects) Mr. KPrabhakar and Industries department Principal Secretary Rajeev Ranjan in the presence ofDeputy Chief Minister Mr. M K Stalin. The project would come up on 135 acre land at SIPCOTIndustrial Centre at Oragadam near Chennai. The proposed plant would provide directemployment to 1,100 persons while indirect jobs to 900.


10/21


Aurobindo to divest 51% stake in China arm to Sinopharm - Aurobindo Pharmahas entered into a deal to divest majority stake in its Chinese subsidiary to Chinas largestpharmaceutical and healthcare group, Sinopharm, for an undisclosed amount. Sinopharm is thelargest pharmaceutical and healthcare group in China with core business in pharmaceuticaldistribution, scientific research and manufacturing of medical and biotech products.

Moser Baer ties up with Macquarie SBI Infra for MP power unit - Moser Baer

Power Projects on Tuesday said it has tied up with Macquarie SBI Infrastructure for funding its Rs580 crore thermal power project in Madhya Pradesh by offering the latter minority stake in theproject. MB Power Madhya Pradesh Ltd, a subsidiary of Moser Baer Projects Private Ltd isdeveloping a 2,520 MW thermal power plant in multiple phases at Anuppur in Madhya Pradeshwith an investment of Rs 13,700 crore. The power project is expected to be commissioned inphases by the end of 2014. The coal for the power project would be sourced from the Southeastern Coalfields. With the current investment from Macquarie SBI Infrastructure, the first phaseof 1,200 MW which is anticipated to cost Rs 6,240 crore is fully funded.

Parsvnath gets Rs 100 cr via equity sale in Ghaziabad project - Realty firmParsvnath Developers on Tuesday said it has raised Rs 100 crore by selling 49.9 per cent stakein a housing project at Ghaziabad to private equity (PE) firm Sun Apollo. The 31-acre housingproject Parsvnath Exotica is being developed by its subsidiary Parsvnath Buil dwell. For SunApollo, this is the second investment in Parsvnaths project. Earlier, it had invested Rs 75 crore in

a housing project in Gurgaon. Since 2009, Parsvnath has raised nearly Rs 440 crore through tworounds of private placement of equity shares with institutional investors and another Rs 410 croreby selling stakes at project level to PE firms. The company had utilized the Rs 850 crore raisedthrough Qualified Institutional Placement (QIP) and private equity at project level to cut its debtand meet the construction cost. The company has land reserves of approximately 193.98 millionsq ft, which is spread over 45 cities and 16 states. Sun-Apollo is a $630million India dedicatedreal estate private equity fund. It invests in development and acquisition of assets across propertytypes.

Lanco Infra gets financial closure for Kondapalli power unit - Lanco Infratechon Tuesday said its subsidiary Lanco Kondapalli Power Private Limited has arranged finances forits 732 MW gas-based power project in Andhra Pradesh. "Lanco Kondapalli Power PrivateLimited (LKPPL) has achieved financial closure and the Project, estimated to cost Rs 2,610 crore,would be financed with a debt of Rs 1,827 crore and equity of Rs 783 crore, Lanco Infratech said

in a filing to the Bombay Stock Exchange. A consortium of six banks and financial institutions, ledby Axis Bank are providing the debt required for the project, the filing added. Currently, LancoKondapalli Power is in the third phase of its expansion, for which necessary regulatory clearancesincluding environment have been obtained. After completion of the Phase-III, the powergenerating capacity of the company would be around 1,500 MW.

CG Foods plans to invest Rs 300 cr on expansion, acquisitions - Nepal basedCG Foods, makers of the popular Wai Wai noodles, today said it is prepared to spend around Rs300 crore on expanding its production capacity and acquiring other companies in India. Thecompany said it will set up a new production unit at Rudrapur in Uttaranchal and another atGujarat, which will require a total investment of Rs 100 crore in three years. The company, whichhad sales of around Rs 200 crore, expects to end this fiscal with a turnover of Rs 350. At present,the company has two manufacturing facilities in Assam and Sikkim with a total capacity of 270million packs in a year. It is in the process of setting up its third plant in Rudrapur in Uttaranchal at

an initial investment of Rs 20 crore and i s looking at setting up another plant in Gujarat. The newplant, which will be operational by 2012, will have a capacity to produce to 120 million packs ayear. Besides, the company is also looking at expanding its existing plants. By 2014, its totalcapacity will be around 500 millions packs a year.

Pondy varsity signs MoU with Indonesia University - A MoU has been inkedbetween Pondicherry University and the Syiah Kuala University, Indonesia, paving the way forexchange of scientific research materials, publications and students and faculty membersbetween the two universities.


11/21


Tata Communications to buy US-based BitGravity - Tata Communications onTuesday said it has entered into an agreement to acquire BitGravity, which provides network forcontent delivery over the Internet, for an undisclosed amount. Upon completion of the transaction,Tata Communications (Netherlands) will own 100 per cent BitGravity, which will operate as awholly-owned subsidiary of the former, Tata Communications said in a filing to the Bombay StockExchange. BitGravity initially raised a total of $13.5 million in two rounds of funding from angel

investors and Tata Communications. SingTel hikes stake in Bharti Airtel to 32.15% - Singapore Telecommunications

(SingTel) today said it has increased stake in Indias largest mobile operator Bharti Airtel to 32.15per cent after it purchased shares worth Rs 136 crore from the open market. As a result,SingTels interest in Airtel has increased to 32.15 per cent from 32.04 per cent. SingTel throughits wholly-owned subsidiary, Viridian Ltd, has purchased 40.75 lakh shares of Bharti Airtel for Rs136 crore (about Singapore $39 million), SingTel said in a regulatory filing to the Singapore StockExchange. SingTel is the single largest foreign investor in Bharti Airtel, which has expanded itsoperations in Africa recently after acquiring Zain Telecoms assets there. The SingTel Group isAsias leading communications group, providing a diverse range of communication services andsolutions, including fixed, mobile, data, Internet, info-communications technology, satellite andpay TV.

Educomp ties up with Zeebo, Lakshya Digital - Education solutions firm Educomp

Solutions on Tuesday said it has formed a joint venture with US-based Zeebo and LakshyaDigital to sell devices with educational content in India. The devices, when connected totelevision, will offer educational content to school-goers and would work using 3G services. Thedevices would be available in India in the later half of the year, priced below Rs 5,000.

JSPL carrying out due diligence for stake buy in Kazakh block - Jindal Steeland Power said today that it is carrying out due diligence for acquiring stakes at a producing oilblock in Kazakhstan besides mulling prospects to set up a refinery in Georgia. JSPL already hasfive oil and gas blocks in Georgia and one in Bolivia outside India. In Georgia, the company isexamining the possibility of setting up a small-sized refinery to cater to the domestic demandthere.

Wockhardt gets board approval for demerger of nutrition biz - In acommunication to the BSE the company said that its board today has considered and approvedscheme of arrangement in the nature of demerger of nutrition business of Vinton Healthcare

Limited into Wockhardt Limited with effect from the appointed date i.e. January 1, 2011. Reliance Broadcast Network to acquire Imagine Showbiz - Reliance Broadcast

Network will acquire Imagine Showbiz Limited (ISL) from Cinestar advertising for an undisclosedsum. The proposed acquisition will include a 100 per cent purchase of ISLs shareholding alongwith other assets, Reliance Broadcast Network said in a statement. As part of the acquisition, thecompany will be buying out ISLs intellectual property rights, music library, Bollywood contenttechnical expertise and its distribution network, it added.

IndiGo enters $16.4-b deal with Airbus - IndiGo has signed an agreement to buy 180Airbus A320 aircraft, the European plane maker said, in a record sale worth $16.4 billion. Thevalue of the deal was not announced, but according to Airbus catalogue price the sale is worth$16.4 billion (12.6 billion). IndiGo is the only Indian carrier to have ordered 100 aircraft fromAirbus earlier, and the order is currently in the process of being delivered. The aircraft areexpected to deliver fuel savings of up to 15 per cent, with corresponding cuts in pollution.

AIG to sell Taiwan life insurance biz for $2.2 b - American International Group((AIG) will sell its Taiwanese life insurance operations for $2.16 billion, a step that will help theinsurer to raise funds to repay the US taxpayers.

Apalya Technologies raises $7.5 mn in Series-B funding -Hyderabad-basedmobile video platform developer Apalya Technologies on Wednesday said it has raised $7.5million in a second round of funding from investors like IndoUS Venture Partners, IDG andQualcomm. Apalya plans to use the funds to broaden its portfolio of services and technologyplatform to leverage the vast mobile TV opportunity being presented by the upcoming large scalerollout of 3G services in India.


12/21


Birla Corp signs MoU for Rs 450 cr cement unit in Assam - Birla Corporation Ltdon Thursday signed a Memorandum of Understanding with the Assam Mineral DevelopmentCorporation, a state government undertaking, to set up a 1 million tonne Greenfield cement plantin Assam. The flagship company of the M P Birla Group said in a statement that the project wouldcost Rs 450 crore. The company will have 87.5 per cent equity in the new joint venture companyand the balance 12.5 per cent would be allotted free of cost to the AMDC as per the tender

conditions. The project would enjoy the statutory incentives for setting up industry in thebackward region in the North-East. BCL won for the project through open bidding from among 23companies.

IL&FS to take over Maytas Properties - The Company Law Board (CLB) on Thursdayallowed infrastructure finance company IL&FS to take over Maytas Properties, a companypromoted by the family members of disgraced Satyam founder Ramalinga Raju. IL&FS has beenallowed to hold 80 per cent of the equity in Maytas Properties. It will now be known as IL&FSEngineering and Construction Company Ltd, after the name of its new promoter.

IOC formally inks pact with Nuclear Power Corp - After announcing their jointventure in late 2009, Indian Oil Corporation formally entered into an agreement with NuclearPower Corporation to set up power plants across the country. The state-run oil major has alreadyforayed into renewable energy sources like solar, wind, bio-fuels and hydrogen. It recentlybagged a project through competitive bidding to set up a 5.5-MW solar power project at Barmer in

Rajasthan, the release added. The nuclear power industry is undergoing rapid expansion withplans to increase the generation to 63,000 MW by 2032.

Binani Cement signs MoU with Gujarat for Rs 4,200-cr projects - BinaniCement has signed a Memorandum of Understanding (MoU) with the Gujarat Government to setup a 610-MW power plant, a captive jetty and 5 million tonnes per annum (mtpa) cement makingfacility entailing an investment of Rs 4,200 crore.

ArcelorMittal, Nunavut deal ends Baffinland war - ArcelorMittal and Nunavut IronOre have agreed a joint offer for Canadian mining company Baffinland, ending a two-monthbidding war, ArcelorMittal said in a statement on Friday. The offer by ArcelorMittal, the world'slargest steel company, and private equity-backed Nunavut was worth Can$ 1.50 (1.10 euros,$1.50) per share. The deal values Baffinland at Can$ 554.9 million (418.1 million euros, $561.9million).

Industrial Investment to raise Rs 400 cr -Industrial Investment Trust Ltd has informed

BSE that in modification to the companys earlier proposal of raising funds through QIP/RightsIssue up to Rs 350 crore, the board at its meeting held on January 8, has decided to revise the

limit from Rs 350 crore to Rs 400 crore and raise the funds by way of QIP/Rights

Issue/ADR/GDR/Preferential Allotment subject to necessary regulatory approvals.

Launches

Tara Jewellers gets SBI approval to launch Rs. 200 cr IPO - Market regulatorSEBI has given its approval to studded jewellery exporter Tara Jewels to launch an initial publicoffer (IPO) for raising up to Rs 200 Crore.The Company is a recent entrant to country's organized

jewellery retail industry. The IPO reflects the upbeat market sentiment, whereas more and more

firms are lining up to cash in the buoyant stock market. Tara Jewels caters to retailers across theUS, Europe (16 countries including the UK, Germany and Italy), Australia, China, Japan, SouthAfrica and Canada. The company has four manufacturing facilities, including one in China. Itemploys 1,500 white and blue collared staff across four continents. It had an aggregateproduction of 2,562.91 kg in 2009-10.The year 2010 had seen 70 public issues, that is, 62 IPOsand 8 FPOs. The funds raised through public issues totaled about Rs 71,114 crore. A majorchunk of the amount raised through share sales -- that is, Rs 49,946 crore -- came from thegovernment divesting its stake in public sector companies.


13/21


Lenovo announces 22 new products - Lenovo announced 22 new products across itsseries of computers desktops, notebooks and net books for its world markets as well as twomobile devices for China at this years Consumer Electronics Show (CES) in Las Vegas. All ofLenovos new products go towards supporting its protect -and-attack strategy.The protect part

has worked well: Lenovo has a 30 per cent share of the Chinese market; and, its ThinkPadbusiness has grown 30 per cent, three times the growth of the worldwide enterprise PC business.And Lenovo has done well with the attack part of the strategy, too: it has grown 65 per cent inemerging markets, four times the growth of the total PC business in emerging markets. Lenovoalso announced four new all-in-one (AIO) PCs at CES this year, at various price points, with oneAIO also including a hardware TV, that is, a television-cum-PC, in which the consumer need notpower up the PC to watch TV.

Rel MediaWorks launches studio operations - Reliance MediaWorks Ltd, thecountrys fastest growing film and entertainment Services Company and a member of theReliance ADA Group, has announced the launch of its studio operations. According to BSE filing,the RMW studios comprise eight sound stages spread across a seven-acre area within Filmcity,Mumbai with a total built-up area of 200,000 sq.ft. The company said that the studios have beenbuilt as per strict Hollywood compliant design specifications and the capacity equals to 25 per

cent of Mumbai studio market. Built over a period of two years, the first phase of three soundstages is operational from January 2011 and the second phase comprising five sound stages willbe operational by mid-2011. According to the company, the RMW studios will have advancedtechnological features like super silent sync sound, 55 feet height, enormous live load bearingcapacities and elephant doors which allow full truck access on to the stages. The fire safety andsecurity measures are as per Los Angeles County Fire Department regulations.

Mahalaxmi Vinimay set to launch stainless steel TMT bars - Mahalaxmi Vinimay,a Rs 500-crore TMT bar and Ferro alloys manufacturer, is all set to launch stainless steel TMTbars in West Bengal and Bihar. The company plans to keep the stainless steel bar prices close toiron bars. With initials volumes expected to remain low, the company plans to sub side theproduct to a large extent.

Tata Docomo introduces blood helpline service on SMS - Tata Docomo, theGSM brand of Tata Teleservices, on Wednesday launched a service that will allow its subscribers

to seek or provide help for any blood requirement in case of emergency. Blood Helpline Serviceon SMS service is exclusively for all Tata Docomo customers and aims at giving help or seekinghelp in case of emergency, Tata Teleservices said in a statement. In case of immediate bloodrequirement subscribers can effectively take advantage of the service by sending an SMS NEEDBlood Group pin code to 54321 charged at Rs 3 per SMS.

GM to unveil 6 new cars in 2 yrs, invest $100 m at Halol plant - General MotorsIndia said that it will launch six new cars in India in the next two years, while also stating that it willinvest $100 million (about Rs 450 crore) to increase the production capacity at its Halol plant inGujarat. The company, which plans to launch three light commercial vehicles from the stable ofits Chinese partner Shanghai Automotive Industry Corporation (SAIC) during the same time, alsosaid that it has lined up to introduce 14 new variants of its existing car models.

Mirae Asset launches iPhone application - Mirae Asset Financial Group on Thursdaylaunched an Emerging Market Experts iPhone application that will provide content and

information focused on emerging markets. The application will allow its users to benefit fromhighly developed capabilities of the iPhone and iPod touch user interface to access information.The iPhone application syncs via Wi-Fi or the users cellular network and downloads the latestcontents directly to the device, giving readers access to up to the minute content both offline andin air plane mode.


14/21


Taj group to open 43 new hotels in 4 yrs: Bickson - Indian Hotels Company thatowns the Taj brand of luxury hotels, on Thursday said it will open 43 new properties in the nextfour years. The Tata Group company owns and runs six brands of hotels in the luxury, premium,midmarket and value segments. The Taj brand with its iconic property being the Taj Hotel andPalace in south Mumbai is the flagship of the group; the resort and spa brand Taj Exotica; TajSafaris are wildlife lodges; Vivanta by Taj come in the premium hotels & resorts segment; The

Gateway Hotel operates the upscale/midmarket full service hotels and resorts and last is theeconomy brand Ginger. Taj group has 66 hotels in 42 locations across the country with anadditional 16 international hotels in the Maldives, Malaysia, Australia, Britain, the US, Bhutan, SriLanka, Africa and the Middle East.

Canara HSBC OBC Life launches ULIP plan - Canara HSBC Oriental Bank ofCommerce Life Insurance Company on Thursday said it has launched a new unit linked plan,offering life cover to Children. The Company has entered into child protection space by launchingCanara HSBC Oriental Bank of Commerce Life Insurance Future Smart Plan, the insurer said in astatement. The company is owned by Canara Bank (holding 51 per cent) and Oriental Bank ofCommerce (23 per cent) and HSBC Insurance (Asia Pacific) Holdings (26 per cent). The productoffers tax benefit to customers on premiums paid under Section 80C and Section 10(10D),respectively, of the IT Act, 1961.The company also has two more ULIPs in its product basket -Canara HSBC OBC Life Grow Smart Plan and Canara HSBC OBC Life Dream Smart Plan.

Maruti Kizashi to be rolled out on Feb 2 - Gearing up to intensify its play in the luxurysegment, Maruti Suzuki India will be launching its sedan Kizashi on the second of next month.The vehicle, to be imported fully from parent Suzukis facility in Japan, will be pos itioned betweenthe likes of Honda Accord and Toyota Camry at the upper end and Honda Civic, VolkswagenJetta and Toyota Corolla at the lower end. These cars are priced around Rs 12 lakh to Rs 20lakh.

Vipul MedCare launches medical tourism in Gulf - Vipul MedCare, a part of VipulGroup of India, has launched its medical tourism operations in the Gulf region to offer healthcare-related services to expatriate Indians. With a coverage network span in 4,000 hospitals acrossIndia, the company now plans to market its packages to local insurers in Gulf to provide grouphealth insurance benefits to Indian living there. The companys healthcare packages will helpfacilitate second medical opinion, electronic medical record management and elective surgicalprocedures. This initiative will benefit all the citizens of Gulf, particularly the insured population,

corporate employees and self-paying patients Tata DOCOMO rolls out T24 mobile service in Gujarat - Tata DOCOMO, the GSM

brand of Tata Teleservices Limited (TTSL) on Monday rolled out its new T24 mobile service inGujarat, a brand launched in alliance with the retail chain giant Future group. Future group thatoperates store chains like Big Bazaar, Food Bazaar and Pantaloons will be offering this newservice from 23 of its big stores spread across seven towns in Gujarat including Anand, Vapi,Surat and Bharuch. Tata Teleservices Limited (TTSL) has forged alliances with Virgin mobile,Quippo for passive infrastructure (towers), Japans NTT DOCOMO for GSM services and Futuregroup for T24.

Birla Sun Life launches capital protection oriented fund - Birla Sun Life AssetManagement Company today launched its new fund offersCapital Protection Oriented FundSeries 3 and Series 4 offering alternative to the traditional investment options like fixed deposits.The 36-month close-ended schemes are oriented towards protection of the invested money by

investing into high quality bonds (debt) while exploring capital growth by investing a part of thefund in equities. Birla Sun Life Asset Management Company is a joint venture between AdityaBirla Group and Sun Life Financial Inc, a leading international financial services organization fromCanada.


15/21


RCom launches user-generated caller tune service - Telecom services providerReliance Communications (RCom) on Wednesday launched its new user generated caller tuneservice, which will allow customers to record content and set it as their caller tune. The facility isavailable online on web and also through an IVR interface. Tune charges are Rs 5 a month, whilesubscription bears a one-time charge of Rs 30. Tune Renewal Charges will be Rs 5 a tune amonth, it said, adding that this service is available across all its CDMA, GSM and 3G networks.

Investments

Adani Group to infuse Rs 80K cr in ports, power sectors - The Adani GroupChairman, Mr Gautam Adani, announced Rs 80,000-crore investment in ports, power sector andinfrastructure in Gujarat at the Fifth Edition of Vibrant Gujarat Summit 2011 here.

Essar Group to invest Rs 30K cr in power, refinery sectors - Diversifiedconglomerate Essar Group today said it will invest Rs 30,000 crore in Gujarat in the projectsacross various sectors, including power and refinery. Essar Group is a major player in the portssector in Gujarat. Its ports and terminals business operates a crude oil and petroleum productsterminal at Vadinar in the state. The Group is also constructing a dry bulk port at Hazira and acoal jetty at Salaya in the state. It also has a 14-MTPA petroleum refinery at Vadinar which

started commercial production on May 1, 2008. Besides, it also operates a 515-MW gas-basedpower plant at Hazira.

Anil Ambani Group to invest Rs 50K cr in Gujarat - Anil Ambani said today that theReliance Group will invest Rs 50,000 crore in Gujarat in the next 5-7 years on various projects asthe company looks to tap the opportunities in the state. Already, the Group firm Reliance Powerhas undertaken development activities at Bharuch in Gujarat, where it is setting up a gas-based8,000-MW power plant.

HCC to invest Rs 1,200 cr on Gujarat renewable energy project - Infrastructuremajor Hindustan Construction Company (HCC) on Wednesday said it will invest Rs 1,200 crore toset up a renewable energy project in Gujarat in the next two to five years. Under an MoU signedwith the Gujarat Infrastructure Development Board, HCC had agreed to develop the Water FrontCity over 4,000 acres in Dholera Special Investment Region (SIR) located at the Gulf of Cambayabout 129 km from here.

Shriram Life plans addl capital infusion of Rs 50 cr Aiming to be a pan-Indiaoperator, Shriram Life Insurance Company, a joint venture firm of South Africa-based SanlamGroup and the city-based Shriram Group, plans to make a capital infusion of Rs 50 crore in thenext 2-3 months. The company, which began its operations four years ago, has already made acapital infusion of Rs 125 crore.

IDFC to raise Rs 2,929 cr via infra bonds - Infrastructure Development FinanceCompany Limited (IDFC) said it plans to raise up to Rs 2,928.60 crore though public issue byselling bonds to retail investors. In its second tranche, the company will issue secured,redeemable, long-term infrastructure bonds, IDFC said in a statement. The issue proceeds areproposed to be used for the companys infrastructure lending activities. IDFC has the authority toraise u p to Rs 3,400 crore in one or more tranches during fiscal 2011, the statement added. Ithas already raised Rs 471 crore in the first tranche of bonds issued in November, 2010. Theissue will open for subscription from January 17 and will close on February 4. The 10-year bonds

have face value of Rs 5,000 each. Resident Indian individuals and HUFs are eligible fordeduction of up to Rs 20,000 in computation of taxable income for the current financial year underSection 80 CCF of the Income Tax Act. The tranche 2 bonds, with a maturity of 10 years, will beissued in two series that will carry an 8 per cent coupon, payable annually and cumulative option -8 per cent coupon - compounded annually. The bonds will be issued in both dematerialized(demat) and physical forms. The bonds are proposed to be listed on the National Stock Exchange(NSE) and the Bombay Stock Exchange (BSE).


16/21


PVR to invest around Rs 100-125 crore in FY 12 - Film distribution and productionhouse PVR Pictures, a 60 per cent subsidiary of the listed PVR, will invest around Rs 100-125crore in FY 12 to up its distribution activities and production of 3-4 Bollywood movies, a topcompany official said. JP Morgan Mauritius Holding Ltd and ICICI Venture each hold 20 per centstake in PVR Pictures, that came into existence in 2005 with its first production Aamir Khan-starrer Taare Zameen Par, that released in 2007. The company is close to inking four

distribution deals for Hindi movies and 15 Hollywood movies.

Economy

Inflation jumps to 8.43% in Dec; Rate hike likely - Inflation shot up to 8.43 per centin December from 7.48 per cent in the previous month, as the prices of certain food and non-fooditems continued to show an upward trend. After moderating somewhat in November, the overallinflation, measured on the basis of wholesale prices, rose in December as vegetables like onionand other protein-based items became expensive. With the inflation showing no signs ofmoderation, it is widely expected that the Reserve Bank of India will raise the key policy ratesduring its quarterly monetary policy review on January 25. As per the WPI data, prices of primaryarticles food, non-food articles and minerals shot up by 16.46 per cent on an annual basis,

official data released here showed. However, the prices of certain food items declined on a year-on-year basis. While wheat became cheaper by 5.09 per cent, pulses fell by 10.89 per cent andpotatoes went down by 26.57 per cent. During the month, fuel and power prices went up by 11.19per cent, while manufactured goods became expensive by 4.46 per cent on an annual basis.Manufactured items have the highest weight of 64.9 per cent in the wholesale price index, on thebasis of which inflation is calculated. Within manufactured products, however, sugar prices easedby 9.91 per cent and leather and leather goods by 1.23 per cent on an annual basis.

Highlights of measures announced to control prices - The government Thursdayannounced a slew of measures to control prices of essential commodities. Following are thehighlights:

-- State-run National Agricultural Cooperative Marketing Federation (NAFED) and apex federationof consumer cooperatives, NCCF, to sell onions at Rs.35 per kg

-- Stringent action against hoarders and black marketers. Cartelization by large traders to be dealtwith strictly dealt

-- Import and export of all essential commodities to be reviewed on a regular basis

-- State units to intensify purchases of essential commodities, particularly edible oils and pulses,for distribution through their retail network

-- Existing schemes for subsidized distribution of edible oils and pulses to be continued

-- Exports of edible oils and pulses, as well as non-basmati rice to remain banned

-- Committee of Secretaries under the Cabinet Secretary to review the prices situation withindividual state

-- An inter-ministerial Group set up under the Chief Economic Adviser, Ministry of Finance toreview the overall inflation situation

-- State Governments to be urged to consider waiving mandi tax, octroi and other local levies tobring down prices further


17/21


-- A scheme to support the state governments in the setting up of farmers' mandis and mobilebazaars and to improve the functioning of civil supplies corporations and cooperatives

-- Awareness campaigns to make people aware of cheaper alternatives to pulses like yellow peaswith a view to influence consumption pattern in favour of such alternatives

-- Involve Residents' Welfare Associations and self-help groups in distribution of essentialcommodities to address local shortages and ensure that supplies reach the households with leastintermediation cost

-- Investments to be encouraged in supply chains including provisions for cold storages

-- Storage capacities to be increased to stock last years bumper Kharif crop

World Bank approves $2 bn loan for road, other projects - India today signedagreements with the World Bank for $2 bn assistance for developing various projects.An $ 1.5 billion agreement to supplement the Pradhan Mantri Gram Sadak Yojna (PMGSY) wassigned in the presence of World Bank Group President Robert B Zoellick and Finance MinisterPranab Mukherjee here. The Bank and India also signed a $ 255 million agreement for phase oneof the National Cyclone Risk Mitigation Project, to be implemented by the National DisasterManagement Authority. The World Bank also approved a $ 162.7 million loan to Rajasthan tohelp improve livelihood opportunities in 17 districts of the state. An assistance of $ 1.5 billion isthe largest rural road project the World Bank has ever approved. The funding will be used to buildmore than 24,000 km of all weather roads in Himachal Pradesh, Jharkhand, Meghalaya, Punjab,Uttarakhand and Uttar Pradesh and any other state, which may join the programme at a laterdate over the next five years.

World Bank estimates 3.3% GDP growth this year - The global economy in 2011and 2012 is shifting into a phase of slower but solid growth, with India and China contributingtowards almost half of the global growth, says the World Banks latest Global EconomicProspects 2011 report. The World Bank estimates that the global GDP, which expanded by 3.9per cent in 2010, will slow down to 3.3 per cent in 2011 before reaching 3.6 per cent in 2012.Developing countries are expected to grow by seven per cent in 2010, six per cent in 2011 and6.1 per cent in 2012. They will continue to outstrip the growth in high-income countries which willexpand by 2.8 per cent in 2010, 2.4 per cent in 2011 and 2.7 per cent in 2012, the report said.Besides, steered by India, the South Asian region is projected to post 7.9 per cent GDP growthon average over the 2011-2012 fiscal years. The Indian economy is projected to grow at 8.5 percent in 2011 and 8.7 per cent in 2012, according to the report.

Government & States

Apex court notice to Govt on plea to scrap 2G licenses - The Supreme Courttoday issued notice to the Centre on the plea seeking cancellation of 2G spectrum licencesallocated during the tenure of the former Telecom Minister, Mr A. Raja. The apex court alsoissued notices to 11 companies which allegedly did not fulfill the roll-out obligations as per theterms and conditions of spectrum allocation. It also impleaded the Telecom Regulatory Authorityof India as a respondent in the petition. A Bench comprising Mr Justices G.S. Singhvi and Mr A.K.Ganguly sought the response from the Department of Telecom and the companies within threeweeks and posted the matter for hearing on February 1. The companies, which were issuednotices were, Etisalat, Uninor, Loop Telecom, Videocon, S-Tel, Allianz Infra, Idea Cellular, TataTeleservices, Sistema Shyam Teleservices, Dishnet Wireless and Vodafone-Essar.


18/21


India to grow by 8.7% in current fiscal: Fitch - Global rating agency Fitch expectsIndias economy to grow by 8.7 per cent in 2010 -11, which means that growth may slow down inthe second half of this fiscal. Fitch expects economic growth of 8.7 per cent in FY11, the ratingagency said in a report. Since Indian economy grew by 8.9 per cent in the first half, Fitchprojections mean that it will expand by a slower growth rate in the second half. The growth rateprojected by Fitch is higher than that estimated by Prime Minister Dr Manmohan Singh. The PM

expects the countrys economy to grow by 8.5 per cent in the current fiscal, while Mid YearReview forecast up to 9.1 per cent growth in the current year, subject to improvement in theEuropean economic conditions. However, Fitch expects the countrys economy to grow slightlyless in the next fiscal, at 8.5 per cent.

Govt unveils new shipping policy with an investment of Rs5 lakh cr - Thegovernment on Thursday unveiled a new policy for the Shipping sector that entails an investmentof Rs 5 lakh crore by 2020 to take the ports capacity to 3,200 MT and bring in major reforms inthe space. Out of the Rs 5 lakh crore investments proposed in the sector, Rs 3 lakh crore wouldbe in the port sector, while the remaining Rs 2 lakh crore will be infused in the Shipping sector.Elaborating other initiatives to be taken under the new agenda, Mr. Vasan said the Governmentwould set up to more major ports in the country - one each on the East and West coast, inaddition to the existing 13 Major ports. Besides, four major ports - two on the east coast - Vizagand Chennai and two on the West coast - Jawaharlal Nehru Port Trust and Cochin port would be

converted into major hubs. Cabinet Okays extension of coal mines conservation schemes - The Cabineton Thursday approved the extension of schemes aimed at coal mines conservation anddeveloping transportation of infrastructure in coalfield areas for an undisclosed period. Theschemes, launched in 1974-75, are aimed at assisting coal companies for conservation of coaland helping them to build rail and road infrastructure for easy and ontime coal dispatch, sandand mining infrastructure. Around Rs 1,000 crore has been earmarked in the current Plan periodending 2012 towards the schemes. This includes an outlay of Rs 690.75 crore for conservationand safety in coal mines and Rs 395.58 crore for development of transportation.

Govt permits 3G video calls on meeting norms - After initial hiccups, thegovernment on Thursday permitted carriage of video calls on mobile networks subject to anundertaking by operators that they would provide interception capability by July 31 this year. Twooperators - Tatas and RCom - have already launched 3G services across various circles, while

others including Bharti and Vodafone are likely to start services soon. Rajasthan abolishes mandi tax on onion for 15 days - To control onion prices, the

government of Rajasthan on Thursday abolished Mandi tax payable for the vegetable for 15days.The government issued the direction to this effect today. Traders have also assured thegovernment of cooperation in controlling the onion price, an official said. The state governmenthas already announced that onions would be sold at reasonable price s through 1100 outlets,including PDS shops and dairy booths, across the state.

451 Bihar villages to be covered under financial inclusion: BoB - The Bank ofBaroda (BOB) will provide banking facilities to 451 villages in Bihar by March 2012 under afinancial inclusion scheme. The bank stood fourth among all banks to have 100 or more branchesin the state. Mr. Srinath said that BoB will seek to attract new customers not only for deposits, butalso for availing credit facilities for individuals, students and business activities. The BoB also has22 ATM units functioning in the state and 10-15 more would be set up by March 2011. Mr. Srinath

said that the bank has been positively contributing to the economic activities in the agriculture-dominant state and implementing the annual c redit plan of state governments.

Tamil Nadu IT SEZ to start functioning by year end - The Tamil Nadu governmenton Tuesday said that IT Special Economic Zone in Krishnagiri district will start functioning by theend of the year and will provide direct and indirect employment to 1.5 lakh people.


19/21


India to sign comprehensive trade pacts with Japan, Malaysia - Indias trade ingoods and services with South-east and East Asia is set to get a boost with the signing of market-opening pacts with Japan, Malaysia and the entire ASEAN bloc in the next 2-3 months.Comprehensive pacts for elimination of duties and removal of obstacles will be signed with Japanand Malaysia in February, the Commerce and Industry Minister, Mr. Anand Sharma, said here.Besides, over and above an existing Free Trade Agreement (FTA) with the 10-nation Association

of Southeast Asian Nations, a fresh pact for opening trade in services is expected to be finalizedby March. Services are of major interest to India and they were not included in the FTA withASEAN which was operationalised from January 2010.

Govt orders redeployment of IRS officers to meet tax target - Crippled by anacute shortage of Indian Revenue Service officers at crucial posts in the Income-Tax Departmentduring the tax collection season, the Government has ordered that they be re-deployed. Thedepartment, which is racing to meet the budgeted target of Rs 4.3-lakh-crore tax collection duringthis fiscal, has been ordered by the Central Board of Direct Taxes (CBDT) to immediately rejointhe officials at Additional and Joint Commissioners rank level to revenue collection duties andconcerned ranges. The Additional and Joint Commissioners are the cutting edge level ranks ofthe I-T Department which ensure and regulate tax collection and other functions of thedepartment like issuing refunds and carrying out investigations against tax evaders. According tothe latest data of the Finance Ministry, the department is facing a shortage of 33.51 per cent in

the Additional and Joint Commissioners (I-T) ranks as only 833 officers are working against asanctioned strength of 1,253. This is incidentally the largest shortage of officers in a particularrank in the department. At the Deputy and Assistant Commissioners level, the I-T Department isfacing a shortage of 24.26 per cent as only 1,591 officers are working against the sanctionedstrength of 2,098.

General

Housing demand to slow down on higher price rate - Housing demand is likely toslow down due to higher prices and increased home loan rates in the current year, rating agencyFitch said on Monday. The withdrawal of teaser interest rates on home loans by lenders maydampen the residential demand in the first half of 2011. However, the demand for commercial

space would continue to be driven by the demand from Information Technology firms, the creditrating agency said. The commercial real estate segment was likely to witness more than 30 percent demand spike in 2011 over the immediate past year. The risk of over-supply, however,persists with the segment. The rating agencys outlook for the Indian real estate sector in 2011 isstable, with a negative bias.

Ex-CII official joins Indian Business Leaders Forum - The Indian Business LeadersForum (IBLF), which was formed recently under the aegis of the India Trade & Exhibition Centre(ITEC), Sharjah, has put in place a permanent secretariat to strengthen its activities. The forumannounced that it has appointed Mr.C.S. Raghavan as Executive Director who will be responsiblefor its growth and will manage its activities including formation of a consortium in the near future.

Worlds largest lift vessel to visit India - The worlds largest heavy lift vessel - MVSvenja that has a lifting capacity of 2,000 tonnes and speed of 20 knots, will touch Indian shoresin Mumbai on January 14 on its maiden voyage. The innovative vessel, which was built in six

months by German-based Sietas shipyard and commissioned by Schiffahrtskontor Altes Land(SAL) is eyeing services from major infrastructure players like Larsen and Tourbo in India.

Exports to touch over $500 bn by 2014-15: FIEO - If exports maintain an annualgrowth trend of 25 per cent, Indian exports can cross $500 billion by 2014-15 from $220 billionexpected in the current fiscal, FIEO said on Monday. Indias exports grew by 29.5 per cent to$164.7 billion during April-December 2010-11. In December 2010, the shipments grew by 36.4per cent year-on-year. In 2010-11, the outbound shipments are expected to touch $220 billion.


20/21


Reliance Life to train 1-lakh insurance agents - Anil Ambani group firm Reliance LifeInsurance has said that it will provide skill development training to one lakh aspiring insuranceagents. The initiative is aimed at creating self-employment in a sustainable manner across thecountry, while adding a pool of qualified agents to our workforce, the company said in astatement. Under the current norms, a prospective agent needs to undergo mandatory 50 hoursof training. The company would also give the aspiring agents three-day refresher training and

mock tests at its respective branches in different regions of the country. The company currentlyhas 2.13 lakh insurance advisors and aims to take the total number of agents of the company toover three lakh in the next one year. Between April-November 2010, Reliance Life Insurance sold13, 12,389 policies against 12, 61,668 in the same period last year.

Domestic car sales climb 30% in December - Domestic passenger car sales jumpedby 28.91 per cent to 1, 48,681 units in December 2010 compared with 1, 15,337 units in the samemonth in 2009. According to the figures released today by the Society of Indian AutomobileManufacturers (SIAM), motorcycle sales last month grew by 27.13 per cent to 7,53,358 units from5,92,589 units in the same month previous year. Total two-wheeler sales increased by 31.1 percent to 10, 06,545 units from 7, 67,789 units. Total sales of commercial vehicles jumped by 27.3per cent to 61,880 units from 48,611 units, SIAM said. Total sale of vehicles across categoriesregistered a growth of 30.51 per cent to 13, 05,872 units in December 2010 compared with 10,00,562 units in the same month of 2009, it added.

Reliance signs pact with Gujarat on petroleum education - Mukesh AmbaniledReliance Industries on Wednesday said it has signed a pact with Gujarat government to developPandit Deendayal Petroleum University into a top world class institute.

Edelweiss plans to lend Rs 5,000 cr for retail housing - Financial servicesgroup Capital today said its subsidiary is targeting to lend about Rs 5,000 crore for retail housingover the next five years by expanding into newer cities. The subsidiary, Edelweiss HousingFinance, began operations in September last year. The company plans to have differentiatedproduct offerings and also tap synergies accruing out of parent Edelweiss' presence in thefinancial sector.

Castrol India launches ICC World Cup ad featuring Tendulkar - Automobilelubricant maker Castrol India on Wednesday announced launching its ICC World Cup advertisingcampaign featuring master blaster Sachin Tendulkar to catch on the cricket fever.

Quarter Results

Pfizer Q4 net up 71.64 pc to Rs 43.58 cr - Drug firm Pfizer today said its net profit roseby 71.64 per cent to Rs 43.58 crore for the fourth quarter ended November 30, 2010, over thesame period corresponding fiscal. The company had a net profit of Rs 25.39 crore in the sameperiod previous fiscal, Pfizer said in statement. Net sales of the company stood at Rs 235.84crore for the quarter ended November 30 2010, compared to Rs 194.94 crore in thecorresponding period last fiscal. The company's board has also declared an interim dividend ofRs 12.50 (125 per cent) per equity share of Rs 10 each payable to shareholders. For the yearended November 30, 2010 the company posted a net profit of Rs 163.20 crore, compared to Rs136.88 crore in the previous year. In a separate filing to the BSE, the company said RichardGane has resigned as the director of the company with effect from today.

Coromondel Fertilisers Q3 net up by nearly 4 pc - Coromondel International ,earlier known as Coromondel Fertilisers, today reported a consolidated net profit of Rs 150.45crore for the quarter ended December 31, 2010, a growth of nearly four per cent compared to thecorresponding period, a year ago. The company had reported a net profit of Rs 144.89 crore forthe quarter ended on December 31, 2009, Coromondel Fertilisers said in a statement. During thethird quarter (October-December) of the current fiscal, the total income of the company rose to Rs2,056.98 crore as against Rs 1,774.88 crore in the corresponding period last fiscal.
http://economictimes.indiatimes.com/pfizer-ltd/stocks/companyid-13274.cmshttp://economictimes.indiatimes.com/pfizer-ltd/stocks/companyid-13274.cms


21/21

Jaiprakash Power Ventures Ltd announces Q3 -Jaiprakash Power Ventures Ltd hasannounced the following Audited results for the quarter ended December 31, 2010.The Companyhas posted a net profit of Rs 227.70 million for the quarter ended December 31, 2010 ascompared to Rs 168.60 million for the quarter ended December 31, 2009. Total Income hasincreased from Rs 1190.30 million for the quarter ended December 31, 2009 to Rs 1813.00million for the quarter ended December 31, 2010.

Zee Entertainment Enterprises net up at Rs 155 cr -Zee Entertainment EnterprisesLtd (ZEEL) has reported a jump of 6.15 per cent in its net profit after tax of Rs 155.45 crore forthe quarter ended December 31, 2010 compared with Rs 146.43 crore in the October-Decemberquarter of 2009-10 fiscal. The company said in a filing to the Bombay Stock Exchange that itstotal revenue also grew to Rs 824.88 crore during the December quarter from Rs 530.93 crore inthe year-ago period.

Infosys Q3 net rises 14.2%; yet cautious - Infosys Technologies posted revenuegrowth below market expectations in the third quarter ended December, but exceeding its ownearlier estimates. It has revised upwards the revenue estimates for this fiscal - the third time innine months - to a band of 20.5- 20.8 per cent, the upper end translating to Rs 27,481 crore, upfrom the 9-11 per cent estimates given in April 2010. For the quarter ended December 31, 2010,the company's net profit rose 2.5 per cent over the September quarter to Rs 1,780 crore, whileyear-on-year growth was 14.2 per cent. Revenues for Q3 rose 2.3 per cent (QoQ) to Rs 7,106

crore (year-on-year, 23.8 per cent, compared with its estimate of 21 per cent given in Octoberlast). Volume growth was 3.1 per cent, down from the 7.2 per cent growth in September.

Coking coal costs push down SAIL's Q3 net profit - Rising coking coal costs,exerting pressure on profit margins, has resulted in a 34 per cent drop in net profit for SteelAuthority of India Ltd (SAIL) for the quarter ended December 2010. Net profit for the quarter stoodat Rs 1,107 crore (Rs 1,675 crore). The dip in net profit comes despite SAIL registering record Q3sales of 3.25 million tonnes, a growth of 10.7 per cent over the corresponding quarter last year.The record sales figure resulted in record gross sales turnover in Q3 for SAIL. Gross salesturnover stood at Rs 12,276 crore a growth of 17.5 per cent over Rs 10,447 crore in thecorresponding quarter last year. The company's raw material costs for the quarter under reviewstood at Rs 5,262 crore, more than 37 per cent higher than Rs 3,823 crore in the correspondingquarter last year. SAIL incurred a capital expenditure of Rs 2,699 crore during Q3, taking the totaloutgo for this fiscal up to Rs 8,002 crore. During the quarter, the company completed installation

of guillotine shear in the plate mill of Bhilai Steel Plant, coal dust injection system in BlastFurnaces 2 & 3 at Bokaro Steel Plant and a 700 tpd Oxygen Plant at Rourkela Steel Plantamongst others. The SAIL Board has approved interim dividend for its shareholders at 12 percent of the company's paid-up capital amounting to Rs 495.65 crore.

Documents

Weekly Roundup 140111