stock news

[finance]

Global News

 Most Asian stocks fell amid mounting concerns over the global
economy after calls by a European Central Bank official to maintain
stimulus measures.



Corporate India News

 Mahindra & Mahindra Ltd. signed a preliminary agreement today
to buy a controlling stake in Ssangyong Motor Co.

 IVRCL Infrastructure and Projects Ltd. plans to raise funds
for two of its units. It will raise 6 billion rupees ($129 million)
through a qualified institutional placement for IVRCL Assets and
Holdings Ltd. and 2.5 billion rupees for Hindustan Dorr-Oliver Ltd.
Impact: Positive

 IL&FS Transportation Networks Ltd. was rated “buy” in new
coverage at Goldman Sachs with a price target of Rs. of 353 rupees.
Impact: Positive

 Cairn deal may not get ministry nod
Impact: Negative

 Builders in India’s financial capital of Mumbai will get a tax
exemption for redevelopment under the Slum Rehabilitation Scheme.
Impact: Positive for HDIL, Orbit Corp.

 India plans to invite new bids to sell a controlling stake in
ITI Ltd., a state-owned telephone equipment Maker.
Impact: Positive

 Jindal Steel & Power Ltd. resumed work on its steel and iron
ore project in Bolivia’s El Mutun mines after the local government
gave an additional 3,000 acres of land for the project.

 Tata Steel Ltd. will invest 10 billion rupees to set up a
ferro chrome and a rebar steel unit at its planned industrial park in
the eastern state of Orissa.

More details http://www.16anna.com

[finance]

Global News

 Asian stocks fell on speculation a U.S. home sales report due
later today will provide more evidence that growth in the world’s
largest economy is faltering


India Economy News

 Govt announces Rs 1,050-cr sops for exporters

 Shipments of iron ore from India, the world’s third-largest
exporter, may fall as much as 38 percent this fiscal year because of
higher taxes and freight charges, and a ban imposed by the state of
Karnataka


Corporate India News


 Mahindra inks pact to acquire Ssangyong Motors

 NTPC Ltd. was raised to “outperform” from “neutral” at Credit
Suisse Group AG, with a price target of Rs. 227.
Impact: Positive

 Jubilant Organosys in deal with US firm
Impact: Positive

 Monnet Ispat & Energy Ltd. iron maker signed a loan agreement
worth 38 billion rupees ($814.6 million) with a group of lenders led
by Infrastructure Development Finance Co. to fund its proposed 1,050
megawatt power project at Angul in the eastern Indian state of Orissa.
Impact: Positive

 Cairn India Ltd. found oil and gas in the Nagayalanka-1z well
in an onshore area in the Krishna-Godavari Basin.
Separately, Oil & Natural Gas Corp. was instructed by India’s oil
ministry to study the possibility of making an offer for a stake in
Cairn India, countering Vedanta Resources Plc’s $9.6 billion bid.
Impact: Positive

 Tata Teleservices (Maharashtra) Ltd. said it gave an order to
Nokia Siemens Networks to buy base stations and other products for its
3G network.

 Polaris Software Lab Ltd.’s Ireland unit acquired a 2.5
percent stake in U.S.-based Tyfone Inc. for $500,000.
Impact: Positive

 TGP a step closer to acquire Vishal retail
Impact: Positive


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