Thursday, January 28, 2010


Corporate News

􀂄 Bharti Airtel has invited bids to outsource the management
of its 1,20,00 km-plus of inter-city optic fibre cable network
and hopes to close the deal before the end of this fiscal - ET

􀂄 Edelweiss Capital today said it will acquire domestic broking
house Anagram Capital for Rs 164 crore. Edelweiss plans
to operate Anagram as a subsidiary with focus on continuity
and building on the current business - BS

􀂄 Jaiprakash Power Ventures will raise up to $300 million
(around Rs 1,390 crore) by issue of bonds for meeting the
capital expenditure of the company, its joint ventures and
projects being implemented through company's
subsidiaries. - BS

􀂄 Lanco Infratech has bagged orders worth Rs 5,675 crore
from its subsidiary Lanco Mahanadi Power for setting up
power plant in Maharashtra. The company has received five
orders valued at Rs 5,675 crore for setting up of coal-based
power plant of 2 x 660 MW capacity. - ET

􀂄 Biocon’s clinical services arm Clingene is actively exploring
an alliance with Mumbai-based clinical research
organisation SIRO Clinpharm. - ET
Macro Economic News

􀂄 The Planning Commission said that the proposed Goods
and Services Tax (GST) is likely to miss the deadline of April
1, but it could be introduced in the next fiscal only. - ET

􀂄 24 of 25 economists expect 50 bps increase in the cash
reserve ratio (CRR), or the proportion of deposits banks
must keep with the Reserve Bank. That would take the level
to 5.5 percent. - ET

Global Cues

􀂄 Asian stocks rose for the first time in nine days, led by
electronics and technology companies, after Canon Inc.
forecast its biggest profit increase in a decade. - Bloomberg

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