Politics -Lok Sabha passes Lokpal Bill with amendments & by voice vote -Lok Sabha rejects amendments to bring companies, media in Lokpal -Bill makes Lokpal a constitutional body -Constitutional Amendment Bill for Lokpal defeated -FM says: Sad day for democracy; BJP blocked constitutional status to Lokpal
Finance Ministry official says -Govt could exceed FY12 borrowing target -Challenge to meet 4.6% fiscal deficit target -Will have to borrow more if fiscal deficit increases -Target difficult due to slowdown in tax revenue -Target difficult due to high subsidy burden -No decision yet on quantum of extra borrowing
Govt sources say -November IIP will definitely be positive' -6.8% core sector growth in November good for IIP -Do not expect November IIP to be as high as core sector -High interest rates, data collection issues have impacted IIP -High interest rates took off 2% points off IIP growth -Data collection took off near 1.5% points off IIP growth -Capital goods, intermediate production seems to be flat -Will be lucky if FY12 IIP growth crosses 5% -April-October IIP growth at 3.5% -Fewer working days contributed to negative IIP in October -Interest rates impact IIP growth with lag of 2 quarters
Adani CEO says -Land acquisition completed for all 3 power plants -Power plants in Chhindwada, Bhadreshwar & Dahej -Bhadreshwar site still to get environment clearance -6,000 MW power capacity by March 2012 -To achieve 10,000 MW by 2013
Other stocks and sectors that are in news today: -Finance Ministry confident of meeting sell-off target; bets on monetizing SUUTI holdings to raise Rs 40,000 crore (ET) -Power companies with assured fuel may have to cap rates; govt feels companies are profiting at consumers cost and distribution firms (ET) -ARSS Infra board to consider and approve CDR from banks, stock up 15% in the last week -Mines ministry against iron ore export ban; says Shah Commission recommendation faulty (BS) -CCI to give SAIL clean chit over exclusive agreement with Railways (FE) -Coal India targeting 10% growth in 3 months in order to meet targets and bridge shortfall (FE) -Escorts to raise tractor prices by 1.5% from January (FE) -Hero MotoCorp to launch its own bikes ahead of schedule; Anil Dua says "New Product launch to be much faster than expected" (BS) -Natco's Nexavar clone plea hearing on January 6 (DNA) -Power Grid board approves investments worth Rs 5368.41 crore -Tata Power signs share purchase agreement to acquire 51% with BP Alternative energy holdings equity in Tata BP Solar -F&O ban: ABG Shipyard, Gitanjali Gems, Ruchi Soya
