MORNING NOTES

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Corporate News

􀂄 The government's decision to divest its stake in power PSU
NTPC would be delayed as the Cabinet Committee on
Economic Affairs could not meet due to pre-occupation of key ministers. - BS

􀂄 Essar Steel is planning to open three more hypermarkets in
Karnataka, taking the total count in the state to six. - BS.

􀂄 Cairn India has sold the first crude from its prolific Rajasthan
fields to the Mangalore Refinery and Petrochemicals (MRPL). - BS

􀂄 Edserv Softsystems announced that it has bagged an order
worth Rs 100 crore from the government for providing
training to unemployed and under-employed youth across India. - BS

􀂄 IVRCL Infrastructures and Projects bagged orders worth
Rs 523.31 crore from UP Jal Nigam for integrated sewerage
works under Jawaharlal Nehru National Urban Renewal
Mission in Allahabad on a turnkey basis and to be completed in 36 months.- BS

􀂄 Japanese machinery orders rose 0.5% less than estimated
in August, barely rebounding from a record low as depressed
capital spending by companies inhibits the economy's
recovery from its worst postwar recession. - Bloomberg

Macro Economic News

􀂄 India's wholesale price index rose 0.7 per cent in the 12
months to Sept. 26, lower that previous week's annual rise
of 0.83 per cent, government data showed. - ET

􀂄 Credit offtake grew by 13%. Banks have ended the second
quarter with a total loan growth of Rs 1,08,885 crore, against
a dip of over Rs 7,000 crore in the previous quarter, with
almost half the growth coming in the last fortnight. - BS


Global Cues

Japanese machinery orders rose 0.5% less than estimated
in August, barely rebounding from a record low as depressed
capital spending by companies inhibits the economy's
recovery from its worst postwar recession. - Bloomberg