Industrial Production (MoM) (Jun) Moderate volatility expected -0.2% vs 0.1%
United Kingdom Industrial Production (YoY) (Jun) Moderate volatility expected -1.6% vs -1.2%
United Kingdom Manufacturing Production (MoM) (Jun) Low volatility expected -0.5% vs 0.1%
United Kingdom Manufacturing Production (YoY) (Jun) Low volatility expected -1.3% vs -0.6%
United Kingdom Purchasing Manager Index Services (Jul) Low volatility expected 47.4 vs 46.6
Tuesday, August 5, 2008
NHPC plans Rs 16.7 bn IPO by September 2008
State run power producer, NHPC`s board of directors has called one meeting to approve its IPO (Initial Public Offering) for raising Rs 16.70 billion, together with 5% disinvestment of government stake.
NHPC is expecting to file its revised draft red herring prospectus (RRHP) with SEBI, market regulator, by the end of this month, and the IPO should be hitting the market by September or early October this year depending upon the market conditions.
NHPC is expecting to file its revised draft red herring prospectus (RRHP) with SEBI, market regulator, by the end of this month, and the IPO should be hitting the market by September or early October this year depending upon the market conditions.
National Thermal Power Corporation (NTPC) is learnt to be in talks to buy at least one coal mine in Indonesia and taking a long lease on another.The company has lined up USD 3 billion for these buyouts.
Wipro Infotech, part of IT major Wipro, bagged a large IT outsourcing contract from Spencer`s Retail, a multi-format, food-first retailer.
State-run equipment firm Bharat Heavy Electricals has bagged an order worth Rs 2 billion for a hydro-electric power project in Vietnam.
Tayo Rolls, a TATA Enterprise company, today Aug. 04, 2008, entered into a technical knowhow and licence agreement with its Japanese promoters, Yodogawa Steel Works for transfer of technology for up gradation / manufacture of high speed steel rolls, semi high speed steel rolls and super nickel grain rolls.
Satyam Computer Services on Aug. 04, 2008 announced that it has partnered with ChangeBASE, the London-based maker of the AOK suite of compatibility products
Thermax announced that the company received an order of Rs 4.15 billion, from a leading steel making company, for setting up a captive power plant for their upcoming blast furnace complex on an EPC basis. The captive power plant will use the waste gas from the furnace to produce power.
Wipro Infotech, part of IT major Wipro, bagged a large IT outsourcing contract from Spencer`s Retail, a multi-format, food-first retailer.
State-run equipment firm Bharat Heavy Electricals has bagged an order worth Rs 2 billion for a hydro-electric power project in Vietnam.
Tayo Rolls, a TATA Enterprise company, today Aug. 04, 2008, entered into a technical knowhow and licence agreement with its Japanese promoters, Yodogawa Steel Works for transfer of technology for up gradation / manufacture of high speed steel rolls, semi high speed steel rolls and super nickel grain rolls.
Satyam Computer Services on Aug. 04, 2008 announced that it has partnered with ChangeBASE, the London-based maker of the AOK suite of compatibility products
Thermax announced that the company received an order of Rs 4.15 billion, from a leading steel making company, for setting up a captive power plant for their upcoming blast furnace complex on an EPC basis. The captive power plant will use the waste gas from the furnace to produce power.
Daiichi revises open offer for Ranbaxy
An open offer for Ranbaxy Laboratories from Japanese drug maker Daiichi Sankyo will start on August 16 and close on September 4.
The Japanese firm was to launch the offer for 20% of Ranbaxy on August 8, but said on July 31 the schedule had been delayed as the market regulator SEBI had not approved it by then.
Earlier on June 16, the Japanese firm, which had agreed to acquire the promoters` 34.8% stake in Ranbaxy, had made an open offer for acquiring up to 92.1 million shares, representing 20% stake in Ranbaxy at a price of Rs 737 each.
Oil marketing cos. losing Rs 6 bn a day
Oil marketing companies IOC, HPCL, BPCL are together suffering losses of Rs 6 billion a day on fuel sales which has led to a problem of cash crunch and concerns over demands for immediately raising credit limits.
The state-run retailers are losing Rs 11.60 a liter on the sale of petrol, Rs 23.23 a liter on diesel, Rs 39.55 a liter on kerosene and about Rs 349 per 14.2-kg domestic LPG cylinder.
IOC, BPCL and HPCL are together likely to lose over Rs 2,050 billion in revenues this fiscal.
While HPCL has sought an additional credit limit of Rs 25 billion over the present limit of Rs 207 billion, BPCL has asked for Rs 30 billion more.
The situation has arisen as the oil companies have not got oil bonds for past quarters. The government makes up for half of the revenue loss on fuel sales through the issue of oil bonds.
The state-run retailers are losing Rs 11.60 a liter on the sale of petrol, Rs 23.23 a liter on diesel, Rs 39.55 a liter on kerosene and about Rs 349 per 14.2-kg domestic LPG cylinder.
IOC, BPCL and HPCL are together likely to lose over Rs 2,050 billion in revenues this fiscal.
While HPCL has sought an additional credit limit of Rs 25 billion over the present limit of Rs 207 billion, BPCL has asked for Rs 30 billion more.
The situation has arisen as the oil companies have not got oil bonds for past quarters. The government makes up for half of the revenue loss on fuel sales through the issue of oil bonds.
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