Single brand retail press note approved by DIPP Press Note says -100% FDI allowed in single brand retail via government route -Above 51% mandatory sourcing from SME's -SME's defined as industries with Investments not exceeding USD 1 million
FICCI says -Welcome 100% FDI in single brand retail -Hopes FDI in multi-brand retail comes before budget -FDI in aviation 'better late than never' -Sugar industry hopes it will be decontrolled in budget
Home Ministry has no objection to Aviation FDI proposal -All Ministries supportive of Aviation FDI proposal -Only issue regarding takeover code & impact on proposal -Final aviation cabinet note after takeover code exemption
Amtek India Q3FY12 YoY -Revenues up 41% at Rs 481 crore vs Rs 341 crore -PAT at Rs 33.3 crore vs Rs 24.8 crore -OPM at 29.9% vs 28.4% QoQ -Revenues up 5% at Rs 481 crroe vs Rs 459 cr -PAT down 17% at Rs 33.3 crore vs Rs 40 crore -OPM at 29.9% vs 30.3%
SEBI -Tightens accountability of BRLMs w.r.t to past issue performance -BRLMs require to disclose track record for 3 financial years
Telenor says -Investments in Uninor thoroughly tested through FIPB Process -Have applied for permission to further invest in India -Despite diversions, core issue is securing Uninor's funding
Other stocks and sectors that are in news today: -RBI dashes CRR cut hopes in bankers meet yesterday -Akzo Nobel shareholders (ICICI Pru, LIC, SBI MF, Bajaj Allianz) oppose merger plan of 3 subsidiaries, feels valuations skewed in favour of 3 unlisted entities - ET -Pratibha Industries puts Saw pipes biz on the block for Rs 110 crore - FE -GTL Infra Director Prakash Ranjalkar steps down -Gravita India to set-up a used car battery recycling plant in The Republic of Trinidad & Tobago -Genus Power to consider restructuring proposal today -F&O Ban: Aban Offshore, ABG Shipyard, Ruchi Soya and Gitanjali Gems -Just 40% of India Inc's forex loans are hedged - ET
