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Do not tell me Supreme court has decided the gas price issue!!!...
Mumbai November 17, 2009
"Reliance Industries (RIL) plans to invest Rs 500 crore to set up a philanthropic entity called Reliance Foundation with plans to scale up its contribution to Rs 1,000 crore.
"We envisage Reliance Foundation to become one of the foremost professional philanthropic organisations in the world. RIL is making an initial contribution of Rs 500 crore and rapidly scale it up to Rs 1,000 crore," RIL`s Chairman and Managing Director Mukesh Ambani, said here.
More resources will be made available in the coming years as the foundation expands its activities, Ambani said.
In its charter, The Reliance Foundation would address issues like formal and vocational education, affordable high-quality health care, meaningful rural development and urban renewal and protection and promotion of India`s heritage of arts and culture.
Over the coming months, the foundation will develop specific programmes and projects that would address some of our most pressing challenges, he said."
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HOT FROM THE PRESS :
* TATA MOTORS : Chairman expects Jaguar LandRover unit to turn around soon.. GE Capital signs agreement with JLR to provide working capital facility of £170mn for 5 yrs.. seperately the Thai unit plans to exports pickup trucks to Malaysia & Indonesia to take advantage of tariff cuts
* INFOSYS : CFO expects the budgets of its customers to be unchanged or slightly lower next year
* JP ASSOCIATES : plans to sell 60mn shrs in its unit Jaypee Infratech & borrow Rs 5bn via commercial paper
* SPICEJET : merger between SpiceJet & GoAir hits roadblock as no consensus on valuations.. they have agreement for exclusive negotiations till March`10
* ICICI BANK : plans to go aggressive on car & truck loans but remains cautious on two wheeler financing
* BHARAT FORGE : plans to enter power sector with investment of Rs 500bn and targets generation capacity of 10k mw over next 10 yrs
* TATA STEEL : to raise annual iron ore production by 55% to 17mn tonnes in nxt
2 yrs at a cost of Rs 11bn to insulate its steel plant from RM px flucutations
* JET AIRWAYS : plans to sell $400mn worth of new shares to large investors thru a QIP
Corporate News – Industry trends
* GE Capital signed an agreement with Jaguar Land Rover, the UKbased
subsidiary of Tata Motors, to provide a working capital facility of
up to £170 mn for a five-year term; The move will boost working
capital within the company by shortening the 3040 days gap the
company has to wait between producing cars and delivering them to
over 90 countries (BS)
* Aban Offshore, the Chennai-based drilling firm, raised US$150 mn in
QIP on Monday (BS)
* Steel Authority of India Ltd cut prices of some of its products, used
primarily by the automobile and the white goods industry, by Rs 500 a
tonne, mainly on weak global demand (BS)
* Suzlon Wind Energy Corp, the North American arm of Suzlon
Energy, has bagged a 21 MW order from Grant County Wind Farm in
Minnesota (BL)
* The Kalyani group’s flagship company Bharat Forge is planning to
make a big foray into the power sector with an investment of up to Rs
500bn and a targeted generation capacity of up to 10,000 mw, over
the next 10 years (ET)
* Glenmark Pharmaceuticals announced two significant agreements
with US-based Medicis Pharmaceutical Corporation; Glenmark will codevelop
a dermatological product with Medicis, for which it will receive
US$5 mn as one-time payment. Separately, its generic arm, Glenmark
Generics, agreed with Medicis to settle all pending patent issues with
two of the latter’s products (BS)
* Tata Steel, the world’s sixth largest steel maker, is raising its annual
iron ore production by 55% to 17 mn tonnes in India over the next two
years. The expansion is expected to cost about Rs 11bn (BS)
* US telecom major AT&T and the world’s largest chipmaker Intel were
among the foreign players who showed interest in the pre bid
conference for third generation (3G) spectrum, which kick started the
process for 3G auction in the country (BS)
* Iran has sought at least US$1 bn as advance from India for supplying
five mn tonnes of liquefied natural gas a year from 2012, but the
demand may not be entertained by the buyers (BS)
* Retail chain Shoppers Stop said it will invest Rs 2500 mn in the next
three years to open 15 more stores across the country (ET)
* The Government’s efforts to bridge the fiscal deficit is expected to
get a further boost with the proposed disinvestment in public sector
mining and steel making firms, National Mineral Development
Corporation and Steel Authority of India Ltd, fetching about Rs
300bn (BL)
* Marking a first, power major NTPC Ltd has got an insurance cover for
an entire village for five years against any disaster or mishap while
carrying out work on a hydro-power project in Chamoli district of
Uttarakhand (BL)
* The Indian Premier League Twenty20 cricket tournament is
expected to see renewed high-stakes bidding with two new teams up
for grabs from the fourth season starting 2011; Bidders will be offered
a choice of eight to 10 cities that can be made their home team venues
and they will be allowed to bid for any number of cities (BS)
Economic/Regulatory development
* FOREIGNERS’ investment in Indian equities could reach record
levels this year, as global investors borrow cheap in developed nations
and invest in high-yielding assets of emerging markets such as India
which may push policymakers to consider measures to contain the
inflows, although reluctantly (ET)
* The finance minister have asked for a US$1 bn loan from World bank
to build a two-lane highways in areas that may not support roads built
in partnership with private firms (Mint)
* The Railways have posted a 9% growth from freight traffic between
April to October this year, earning at least Rs 320 bn from the segment
(Mint)
International trends
* General Motors Co, signalling confidence in its recovery from
bankruptcy, said it generated US$3.3 bn in cash in the third quar...
Govt meet to mull FDI hike in aviation
Currently, the government allows about 49% in FDI in aviation sector. It has also barred foreign airlines from holding any stake either directly or indirectly in domestic carriers. The proposal is to hike this FDI limit to about 74% and to allow foreign carriers to have stake either directly or indirectly into the domestic carriers.
Regards
Swastika PMS...
Bulk Deals Snapshot - 16 November 2009, Monday
MUTUAL FUNDs Actions:-
Buying of 500000 shares of Tata Motors (D) by Prudential Asset Management Singapore Limited in BSE.
Regards
Swastika PMS...
Bulk Deals Snapshot - 16 November 2009, Monday
IN BSE & NSE:-
Net Selling of 712205 shares of Asian Electronics
Net Buying of 126713 shares of Murudeshwar Ceramics
Net Selling of 1000000 shares of Tata Motors (D)
Regards
Swastika PMS...
Bulk Deals Snapshot - 16 November 2009, Monday
IN NSE:-
Net Selling of 2716696 shares of Austral Coke
Selling of 100000 shares of Dhanus Tech
Buying of 198701 shares of Goldiam International
Net Selling of 114323 shares of Sunflag Iron
Regards
Swastika PMS...
Bulk Deals Snapshot - 16 November 2009, Monday
IN BSE:-
Buying of 222678 shares of Cat Technologies
Selling of 54975 shares of Channel Guide
Net Selling of 55752 shares of Comp-u-learn
Selling of 111200 shares of Grabal Alok Impex
Buying of 160223 shares of Kay Power
Net Selling of 365000 shares of PFL Infotech
Buying of 100000 shares of Seax Global Ventures
Regards
Swastika PMS...
Bernanke FED Chairman has finished his talk and market reaction is positive. DOW IS AT 10402 OR ALMOST UP 130 POINTS....
DEAR RN ma`am,
ithink there is no harm in dreaming.out of dreams are great ideas born...
Arun Jaitley backs Sachin. We are indians first and then only regional identification comes into the picture.
Arun its about time you dump the RSS and form a party minus religious ovetures dont you think? ITS TIME. may the lord of Vrndavan dissociate the BJP from the RSS....
brainchild-Mayan calendar says `world will end`!!Mostly no one can find the right answers!!Astronomer` service is a very good website!!...
Everest Infra Energy has filed DRHP with SEBI
Everest Infra Energy has filed a draft red herring prospectus (DRHP) with SEBI for IPO of 60 lakh equity shares of Rs 10 each.
Regards
Swastika PMS...
Times of India The state government seems to have finally woken up to the curious case of slain anti-terrorism squad (ATS) chief Hemant Karkare`s missing
bulletproof jacket. While a city crime branch team a few months ago scoured the Deonar dumping ground in vain, the state government has only now ordered a probe into the case. The probe, incidentally, comes after an RTI plea revealed that the vest was missing.
...
EU to impose VAT on IT companies
Indian IT companies’ European Union (EU) billing rates may come under tax strain as the EU has decided to impose Value-Added Tax (VAT) on services from non-EU nations from Jan 1, 2010. The decision will squeeze margins for Indian firms and TCS, INFOSYS and WIPRO could be affected.
Regards
Swastika PMS...
