News Views & Events 23rd April 2013

News:

Ø  The cabinet committee on investment (CCI) cleared 13 power projects and 25 oil blocks, which will provide much needed to boost to the struggling power and oil and gas sectors. Out of 20 projects, CCI cleared 13 power projects worth Rs 33,000 Crs, which were stuck due to various reasons including environmental concerns.

Ø  Transformers and Rectifiers (India) Ltd (TRIL) has received Rs 296 Crs order from the state power transmission company, Gujarat Energy Transmission Corporation Limited (GETCO) for supply of 392 units of transformers.

Ø  Cadila Healthcare's board has approved the merger of Zydus Animal Health Ltd (ZAHL), Liva Healthcare Ltd (LHL) and Zydus Pharmaceuticals Ltd (ZPL) with itself.

Ø  Ultratech Cement in final talks to buy Jaypee's 2 Gujarat plans for EV of Rs 4100 Crs.

Ø  Tata Steel plans to raise $250-500m debt in Singapore dollars through subsidiary to repay earlier loan.

Ø  SBI to make some strategic announcement today.

Ø  Ashok Leyland and its two investment arms - Ashley Holdings Ltd and Ashley Investments Ltd - have infused around Rs 45 Crs in Ashok Leyland UAE LLC. 

Ø  Videocon Industries announced that a significant amount of natural gas has been discovered in offshore Rovumal block, Mozambique.

Ø  GMR Infrastructure is learnt to have filed qualification documents for a formal bid to develop 17.5-billion peso ($425 million) Mactan-Cebu International Airport project in the Philippines.

Ø  IL&FS has received a Letter of Intent (LOI) from IPTF, Fujairah, FZC for oil pipeline work at Port of Fujairah for an amount of Rs 71.4 Crs.

Ø  Havmor Ice Creams has tied up with another homegrown pharmaceutical major Zydus Wellness, for sourcing ingredients for its latest 'Sugar Free' range of ice creams. Also, the tie-up would allow Havmor to use the 'Sugar Free' brand owned by Zydus for its ice creams.

Key events for the day:

Ø  Board Meeting for Q4FY13 results of: HDFC Bank, M&M Financial, Indiabulls Securities, Coromandel International, AP Paper, Binani Industries.

Ø  Release of Flash Manufacturing & Service PMI data in Euro Zone.

Ø  Release of Flash Manufacturing PMI, HPI, New Home Sales data in US.

 

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