Monday, January 18, 2010


Corporate News

􀂄 Suzlon Energy's oversease arm won an order from Swedish
wind power developer and consultant Triventus AB. The order
consists of engineering, procurement and construction work
for two 2.1 MW wind turbines - ET

􀂄 Bharat Forge's board has approved raising $150 million
through equity-cum-debt issue for expansion into
non-automotive areas like power and oil and gas. The board
had earlier approved raising of funds through qualified
institutional placement (QIP). - BS

􀂄 ABG Shipyard has acquired more than 15.23 per cent stake
in Great Offshore for Rs 294.05 crore through open offer
route. ABG Shipyard acquired over 56.54 lakh equity shares,
representing 15.23 per cent shareholding in Great Offshore
at Rs 520 per share - BS

􀂄 Rural Electrification Corp's board will meet on January 23 to
discuss the papers for its proposed follow-on public offer.
Indian companies are expected to embark on a mega fund
raising spree this year to raise over Rs 50,000 crore by way
of public offers driven by sharp recovery in the stock market.-

􀂄 Ruchi Soya Industries has entered into an agreement with
the Ethiopian Government for soyabean cultivation.The
company has signed memorandum of understanding with
the Ethiopian Government for cultivation of soyabean and
processing facilities on 61,775 acres of land on lease basis
for a period of 25 years - BS

􀂄 UTV Software Communications said the Bombay High
Court has approved the proposed merger of UMP Plc and
UTV Motion Pictures (Mauritius) with itself. - BS

Macro Economic News

􀂄 A hike in interest rates, apart from an increase in reserve
ratio, is now on the cards despite the government’s
keenness to nurture growth in the wake of last year’s
slowdown - ET

Global Cues

􀂄 Production in the U.S. rose for a sixth consecutive month,
consumers gained confidence and price increases slowed,
indicating the economic recovery is being sustained into
2010 without generating inflation. Output climbed 0.6
percent in December for a second month - Bloomberg

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