Monday, February 1, 2010


Corporate News

􀂄 NTPC Vidyut Vapyar Nigam Ltd (NVVNL), a wholly-owned
trading arm of NTPC and the national nodal agency, has
decided to procure solar power up to 1,000 MW by 2013.The
company will mix solar power tariff with the unallocated
thermal power before pushing it into the grid for a final price
of Rs 5-5.50 a unit. - BS

􀂄 ICICI Bank today ruled out overseas acquisitions, but said
it is open to buying local banks to increase presence and
business within the country. - ET

􀂄 Blue Star, is exploring options to set up an unit in south
India in the near future. The company has incurred a capital
expenditure of Rs 80.06 crore in FY 09, which includes
expenditure incurred for its fifth manufacturing facility at
Wada. - ET

􀂄 Alok Industries, will dilute a 33 per cent stake in its subsidiary,
Alok H&A, in return for a Rs 45 crore infusion from Asiabridge
Fund 1 LLC. Alok H&A plans to have a 1,000 store network
in the next four years from the present 154, all on a
dealership basis. - BS

􀂄 Dalmia Cement (Bharat) today said it has increased its
stake in OCL India to 45.4 per cent from 21.7 per cent at an
investment of Rs 177 crore as part of its plan to expand its
footprint in eastern India. - ET

Macro Economic News

􀂄 Fiscal deficit for the current year could overshoot even the
16-year high 6.8% budgeted for the current year as fertiliser
subsidy is likely to be higher and there is now greater chance
that the 3G auction may not happen this fiscal. - ET

Global Cues

􀂄 The surge in U.S. economic growth in the fourth quarter
depended on more than manufacturing and investment.
Households also played their part.GDP grew at a 5.7%
annual rate from October through December, more than
anticipated and the strongest performance since the third
quarter of 2003, figures from the Commerce Department -

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