Friday, January 29, 2010


Corporate News

􀂄 Hindustan Petroleum Corp plans to invest Rs 25,000 crore
in setting up a 15 million tonnes a year refinery on the west
coast. The new refinery may be located anywhere between
Mumbai and Goa on the coast and is being mulled to make
up for space constraint that its Mumbai refinery faces at
present - ET

􀂄 L&T Infotech has bagged the e-governance implementation
project of the All India Council for Technical Education
(AICTE). L&T Infotech will implement Siebel CRM modules
and will also supply and execute a comprehensive System
Integration network including supply of the requisite
hardware for PCs and networking equipment - BS

􀂄 HCL Technologies has received a contract worth around
Rs 231 crore from UK-based defence equipment maker
Meggitt for providing engineering services.

􀂄 Yes Bank has raised $225 million (about Rs 1,034 crore)
through private placement of shares to institutional investors.
The bank will issue 3.84 crore equity shares at Rs 269.50
per share to institutional investors under the Qualified
Institutional Placement (QIP), which would raise the overall
capital adequacy of the bank to over 20 per cent. - ET

􀂄 Aptech, has sealed a major buyout in the animation and
multimedia education space by acquiring Maya Academy of
Advanced Cinematics (MAAC) for Rs 76 crore. - BS

􀂄 Mahindra Satyam moved an application before the Company
Law Board (CLB) seeking its approval to hive off its Chennaibased
animation division. The animation division that
comes under Satyam BPO has only 0.2 per cent contribution
to the company's networth. - BS

Macro Economic News

􀂄 India's food price index rose 17.40 percent in the 12 months
to January 16, rising for the first time after falling for three
consecutive weeks, while the fuel index was up 5.70 percent.
India's annual wholesale inflation rose to 7.31 percent in
December 2009, compared with 4.78 percent rise in
November and 6.15 percent a year ago - ET

Global Cues

􀂄 Japan’s retail sales unexpectedly fell for a 16th month in
December as dwindling paychecks and deteriorating job
prospects weighed on consumers in the world’s secondlargest
economy. Sales slid 0.3 percent from a year earlier
- Bloomberg

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