MORNING NOTES

Corporate News

􀂄 Television Eighteen India announced that its board has given
nod to issue preferred stock worth $10 million (nearly Rs
46.7 crore) of its subsidiary to global investor Nokia Growth
Partners (NGP) II Mauritius. - BS

􀂄 Era Infra Engineering, a fully integrated infrastructure
development company, has secured two contracts worth
Rs 146.80 crore.- BS

􀂄 JSW Energy will set up 10 power plants with a capacity of
1,350 mega watt (Mw) in all, in Rajasthan's Barmer
district.BS

􀂄 K S Oils, announced that it will develop Palm Oil Plantations
in Indonesia and has acquired additional 53,000 acres of
land for the three-year project, involving a total investment of
around Rs 380 crore. - BS

􀂄 Godrej Industries has entered into a memorandum of
understanding (MoU) with Godrej & Boyce Mfg Co and Godrej
Properties for development of the property at Vikhroli. - BS

􀂄 Steel Authority of India (SAIL) announced that it will import
about 11 million tonnes (mt) of coking coal this fiscal, lower
than the imports in 2008-09 due to the recession and the
subsequent fall in demand. - BS

􀂄 Japan’s current-account surplus widened in August as a
rebound in global demand helped ease declines in
exports.The surplus widened 10.4 percent to 1.171 trillion
yen ($13.2 billion) in August from a year earlier - Bloomberg

Macro Economic News􀂄

Direct tax mop-up for the first half of this fiscal were up 3.6%
on-year but fell short of the growth target on account of high refunds. - Et

􀂄 Overall, though, the current rainfall is expected to be helpful
for the rabi season as sowing of a majority of the rabi crops like gram and wheat is yet to begin.- BS

Global Cues

Japan’s current-account surplus widened in August as a
rebound in global demand helped ease declines in
exports.The surplus widened 10.4 percent to 1.171 trillion
yen ($13.2 billion) in August from a year earlier - Bloomberg
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