Friday, January 22, 2010


Corporate News

􀂄 Gammon India has bagged an order worth Rs 308 crore
from Jindal Power for construction related works. - ET

􀂄 Yes Bank raised $250 million (about Rs 1,140 crore) by
private placement of shares to fund its expansion plans,
which include opening up to 250 branches next year. - ET

􀂄 Dhanlaxmi Bank is putting a strong emphasis on the NRI
remittance market, has partnered the Bank of New York
Mellon, one of the bigger correspondent banks globally, to
facilitate online remittance services from the US to India. ET

􀂄 Essar Exploration and Production Ltd, an arm of Essar Oil,
will invest $400 million (Rs 2,000 crore) in its coal bed
methane gas project at Ranigunj in West Bengal by 2012.ET

􀂄 Alstom and Scheider Electric have joined hands to acquire
the global transmission and distribution (T&D) business of
Areva. Alstom and Schneider Electric signed agreement with
Areva today for the acquisition of its T&D business - BS

􀂄 Mercator Line has signed a long term contract worth $224
million through its wholly owned subsidiary in Singapore.BS
Macro Economic News

􀂄 Food inflation based on the wholesale price index softened
to 16.81 per cent for the week ended January 9, although
potato and pulses continued to cost high. - ET

Global Cues

􀂄 The index of U.S. leading indicators increased more than
anticipated in December, a sign the economy will keep
growing through the first half of the year. The New Yorkbased
Conference Board’s gauge of the outlook for the next
three to six months rose 1.1 percent, the most in three
months, after climbing 1 percent in November. - Bloomberg

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