Wednesday, January 6, 2010


Corporate News

􀂄 Secondary steel maker Uttam Galva Steels hiked prices of
its products by Rs 3,000 a tonne citing increase in its input
cost and firming global demand trend. - BS

􀂄 Telecom service provider Aircel stated that it will finalise a
buyer for its 17,000 telecom towers across the country in
the next six weeks. - BS

􀂄 Sadbhav Engineering announced that it has bagged a road
project from the National Highways Authority of India (NHAI).
- BS

􀂄 IVRCL Infra and Projects announced that it has bagged
contracts worth Rs 958 crore for providing infrastructure
related works. - BS

􀂄 Maharashtra Electrosmelt (MEL), a SAIL subsidiary, will
invest Rs 200 crore to set up a furnace with capacity of
42,000 tonnes per annum at its Chandrapur plant. - BS

Macro Economic News

􀂄 Direct tax collections during April-December 2009 rose by
8.5 per cent to Rs 2.5 lakh crore on account of higher

corporate tax collections.

􀂄 India attracted net foreign capital of $23.6 billion in July-
September 2009 quarter, over three times that in the
corresponding quarter last year.

Global Cues

􀂄 Asian stocks rose, lifting the MSCI Asia Pacific Index to a 16-
month high after U.S. manufacturing expanded at the fastest
pace in more than three years and commodities gained. -

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