News. January 5, 2007
Posted by Bhavin in Stock In News.trackback
Top News:
1) Nicholas Piramals Wellspring, the chain of Pathology Laboratories and Diagnostic Centres acquires majority stake in Jankharia Imaging, a radiology and imaging centre in Mumbai. New entity would be renamed as Wellspring-Jankharia Imaging. Wellspring has ambitious investment plans in the next two years during which the Company would offer tele-radiology solutions requiring expert radiology opinions across India and abroad-(imjwire)
2) Mercator Lines denies the news of rig sale and private placement, and the Company clarifies that it does not have any such i.e. either Rig sale and/or placement at Rs. 60-(imjwire)
3) Mirza International clarifies on the news that Mirza Tanner may buy European Shoe Company. Company said Though company was looking for acquiring a retail / distribution company and / or a shoe manufacturing company overseas earlier, as of now the company does not have a concrete proposal & Mirza International plans to increase its manufacturing capacity by 1 mn pairs-(imjwire)
4) Asian Electronics denies the news that it will buy back shares by month end-(imjwire)
5) Hindustan Zinc increased lead prices by Rs 1500/tonne upto Rs 86300/tonne & Hindustan Zinc cuts prices by 4.2% upto Rs 9300/tonne to Rs 212200/tonne -(imjwire)
6) JSW Steel Galvanised Steel prices rose by Rs 1500 per metric tonne-(imjwire)
7) Wockhardt receives USFDA approval for Ondansetron Injection, generic version of GlaxoSmithKline Plcs nausea treatment Zofran-(imjwire)
8) Dr.Reddys Labs receives USFDA approval for Ondansetron Hydrochloride Tablets, generic version of Zofran-(imjwire)
9) Suven Life Sciences denies the news of receiving a major contract manufacturing order. Company also denies the news of going for private equity placement-(imjwire)
10) Hindujas on Thursday announced their interest to acquire Hutch Essar Ltd, joining Reliance Communications and British telecom giant Vodafone in the race for the country’s fourth-largest mobile operator-(BL)
11) Varun Shipping acquires its third modern Aframax crude oil tanker having cargo carrying capacity of approximately 105,000 DWT. With this additions, the Company will now be operating a diversified fleet of 18 vessels-(imjwire)
12) Metal Bulletin reports, China to import 355mnt of iron ore in 2007 up from 325 million tonnes in 2006-(imjwire)
13) Indian government partially lift the ban on sugar exports as domestic prices falls. Director General of Foreign Trade would allow exports against advance licences that stipulates re-export of white sugar against import of raw sugar. This would apply to advance licence holders who could not meet export obligations before July 4, 2006 as the government then banned sugar exports to augment domestic availability-(imjwire)
14) Southern European bank choses Polaris Cash Management software. It is Next-Generation, SOA based Intellect Cash and Liquidity Management Platform. The solution enables banks to offer liquidity products, letting their customers have rule-based optimisation of their cash-(imjwire)
15) ICSA India receives order from Eastern Power Distribution Company of Andhra Pradesh Ltd on 100% Turnkey basis under JBIC 2006-07 worth of Rs 15.28 cr-(imjwire)
16) Dabur Pharma today launched a new indigenously developed anti-cancer drug delivery system, Nanoxel, and plans to introduce it in the highly lucrative US and European markets within the next 18-36 months-(BS)
17) Indian government approves 20 FDI proposals worth of Rs.27.92 bn-(BS)
18) India cabinet exempt ready made garments from Textile Committee Cess and it is levied at 0.05% on manufacturers of textiles and textile machinery to raise funds for research and technology improvements-(imjwire)
19) Plethico Pharmaceuticals accepts the news of plans to acquire a contract manufacturing company and a retail pharmacy chain in the US- (IMJ Wire)
Indian Stock Market Blog 
in coming days following stocks get movement in upper side
natco pharma
vishal exports
shanti gears
bpcl
Do post at Discussion Forum for everyone to view. As this wont be visible after somedays.
Thanks,
Bhavin.
#Niveza #Review on RBI Rate Cut Policy :: 6th April
The Reserve Bank of India on Tuesday cut the repo rate by 25 basis points at its first rate-setting review of the new financial year, which did not meet expectations of the financial markets. Some analysts and economists had gone overboard and projected a 50 basis points rate cut this time around and most of the factors on the central bank’s watch list had turned favourable for such a measure.
Two key concerns that were determining RBI’s money policy moves for several months now are the inflation trajectory in the domestic economy and the US Federal Reserve’s tightening moves, which have been playing havoc in the financial markets the world over.
Controlling inflation has been the priority of the Indian central bank. The consumer price inflation which captures the trend in the more volatile food prices had showed some spike since August last year, but in February the all-India general CPI inflation dipped to a four-month low of 5.18 per cent, snapping the consistent increase for last six straight months.