Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

This blog is for providing daily news of Corporate Indian Stories, Corporate Results, Equities, MFs, Banking,Insurance, Brokerages Informations, World Business, Venture Capital, Angel Investors, BSchools, MBAs,Jobs, Politics & something Interesting.Our team will be grateful to the owners of various Indian/world/govt sites to refer their sites to get INFORMATION without objection.Request viewers to make verification about the information. Blog is not responsible for any faulty information.

19 June 2008

Ranbaxy, Pfizer sign truce over Lipitor, Reliance Big to light up screen with Spielberg

Ranbaxy, Pfizer sign truce over

Exactly a week after the promoters of Ranbaxy Laboratories sold their shareholding to Japanese drug maker Daiichi Sankyo, the Indian drug maker and US giant Pfizer announced that they have reached an out-of-court settlement on their litigation over the world’s largest selling drug, Lipitor (Atorvastatin). According to the settlement, Ranbaxy will launch its generic version of Lipitor, the $12.7-billion cholesterol-lowering medicine, and combination drug Caduet in November 30, 2011 in the US with exclusive marketing rights for 180 days, along with the innovator company. Industry estimates peg Ranbaxy’s revenue upside from the settlement for Lipitor at $1.5 billion over a four-year period up to May 2012. Ranbaxy (subject to litigation) was on course to launch its generic version of Lipitor in the US in March, 2010, 15 months ahead of its patent expiry in June, 2011.

The settlement pushes back the launch date by 20 months, even though it eliminates all uncertainty regarding the launch date. In addition, Ranbaxy will also not receive any upfront payment from the out-of-court settlement. Says Prabhudas Lilladher’s pharma analyst Ranjit Kapadia: “The settlement brings certainty to Ranbaxy’s launch and will cut down litigation cost for Ranbaxy from tomorrow itself. However, the drug’s launch has been pushed back by 20 months, which means that Pfizer will get additional sales of around $20 billion during the extended period.”
Ranbaxy sell-off may price open more deals
Market was all ready for Ranbaxy-Daiichi deal
What does Daiichi bring for Ranbaxy investors?
Ranbaxy needed to pop growth pill

Ranbaxy has described the deal as a win-win situation. “This is the largest and the most comprehensive out-of-court settlement ever in the pharma industry covering a total revenue of over $13 billion. The revenues will start kicking in from this year as we will be launching generic version of Lipitor in Canada this calendar year,” Ranbaxy Laboratories CEO and MD Malvinder Singh told ET. A senior Pfizer executive said the agreement clearly reaffirms the value and importance of intellectual property.

The settlement was announced after Indian stock exchanges closed on Wednesday. Ranbaxy shares moved up 2.9% to Rs 598 during the day. According to industry estimates, Ranbaxy will get a revenue upside of around $1.5 billion from the Lipitor generic over a four-year period up to May 2012. Bulk of this revenue will be backloaded and is expected to accrue when Ranbaxy launches the drug in the US market in November, 2011. Lipitor generates annual sales of $8 billion in the US alone. In Canada, the drug rakes in about a $1 billion in sales every year. Caduet, a combination drug of Lipitor and hypertension drug Norvasc, has annual global sales of $400 million. In addition to the US and Canada, the Indian drug maker will also have the licence to sell Atorvastatin in six more countries - Belgium, Netherlands, Germany, Sweden, Italy and Australia - on different dates. Ranbaxy can launch its Atorvastatin 2-4 months ahead of patent expiry in these countries. Ranbaxy and Pfizer have also resolved their disputes regarding Atorvastatin in Malaysia, Brunei, Peru and Vietnam. Continued...Next >>

Wave of consolidation to hit Indian pharma sector: Malvinder Singh
Ranbaxy sell-off
Indian generic companies may tread Ranbaxy path
-------------------------------------------------------------------------------------------
Reliance Big to light up screen with Spielberg19 Jun, 2008, 0620 hrs IST, ET Bureau

its recent high-profile entry into Hollywood, Reliance Big Entertainment (RBEL), the entertainment arm of the Reliance Anil Dhirubhai Ambani Group (ADAG), is now close to inking a joint venture with Hollywood director Steven Spielberg. It is learnt that ADAG will commit $500 million in the new venture, which will fund all of Mr Spielberg's movies. The new company, to be formed between the two parties, will produce about six films a year. The American film director, producer and screenwriter is a three-time Academy Award winner and is the highest-grossing filmmaker of all time. In a career spannig almost four decades, Mr Spielberg made classics such as Jaws, E.T. The Extra-Terrestrial and Jurassic Park, which became the highest-grossing films of their time. During his early years as a director, his sci-fi and adventure films were often seen as the archetype of modern Hollywood blockbuster filmmaking.

However, a Reliance ADAG spokesperson offered "no comments" when questioned about the deal. This will also mean that Mr Spielberg, who sold his company DreamWorks to Viacom in 2006, will part ways with Viacom, with the funding that they receive from ADAG. The move cements Reliance Big Entertainment's plan to become one of the largest players in the entertainment business in the world. Last month, Reliance ADAG announced a slew of projects at the Cannes film festival, roping in Hollywood stars, including Tom Hanks, Brad Pitt, Jim Carrey and George Clooney, with an estimated investment of about $1 billion.

Reliance ADAG is understood to be financing Mr Spielberg to ensure that DreamWorks is sufficiently funded so that its departure from Viacom's Paramount Pictures is feasible. Recently, RBEL, which runs cinemas in India through Adlabs, entered the US market under the brand name 'Big'. The company has acquired more than 200 theatres across 28 locations in North America, including New York, New Jersey, Atlanta, Detroit, Chicago, San Jose, Los Angeles, Washington DC and Seattle. The group has also bought a US-based theatre management company to operate the US chain and has set up a distribution company to license rights. RBEL is focused on both international and domestic projects, and its vision is to become one of the major entertainment companies world-wide. The entry into mainstream Hollywood projects is in tandem with this vision. For Hollywood actors and producers, partnering an Indian entertainment company would ensure South Asian audiences.

Besides, they would get a strong producer and distributor, capable to explore new markets and concepts. In February, when George Soros invested $100 million in RBEL, the internet, media and entertainment arm of ADAG, for a 3% stake, valuing the company at $3 billion, the move took everyone by surprise. The primary reason was that most of the businesses held under RBEL were either at the planning stage or characterised by earnings potential rather than actual earnings. However, going by the recent spate of activities and the number of acquisitions that RBEL has undertaken, the plans seem to be gaining momentum. Three months after the last investment, RBEL has been in talks with private equity biggies like Kohlberg Kravis Roberts & Company (KKR), billionaire investor Carl Icahn, Japan's Softbank and Abu Dhabi Investment Authority for selling a 10% stake for a valuation of $5 billion.

Source: http://economictimes.indiatimes.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

18 June 2008

Quarterly Results

Pfizer, Ranbaxy settle Lipitor dispute: UTVi

Pfizer, Ranbaxy settle Lipitor dispute : UTVi.com
Ranbaxy, Pfizer settle Lipitor patent disputes : Reuters India

Ranbaxy Laboratories has settled most of its patent disputes with Pfizer allowing it to launch a generic version of the US group's blockbuster cholesterol drug Lipitor from November 30, 2011.
Ranbaxy also said it would have 180 days market exclusivity following the US launch of the generic version of Lipitor, the world's biggest selling drug with sales of $12.7 billion in 2007.
"This comprehensively settles outstanding issues between Ranbaxy and Pfizer bringing to closure a number of on-going patent disputes," Malvinder Mohan Singh, chief executive and managing director, Ranbaxy, said in the statement.

"This will make the world's largest selling drug more accessible to patients who will gain from the timely availability of an affordable quality option," he added.Speaking to UTVi, Singh said this is the largest and the most comprehensive settlement in the history of the pharmaceutical industry. "The best news in the deal is that it opens up a $12 billion market for Ranbaxy, and we will be getting access to the $8 billion US market from November 30, 2011.... no questions, no risks...."Ranbaxy will also have the licence to sell the drug in an additional seven countries including Canada, Belgium, the Netherlands, Germany, Sweden, Italy and Australia.A Pfizer spokesperson maintained that the settlement with Ranbaxy was pro-patent and pro-intellectual property. The spokesperson also denied any intention of buying the non-promoter stake in Ranbaxy.Ranjit Kapadia, pharma analyst at Prabhudas Lilladher, while speaking to UTVi , said the market had no whiff of the deal. "Or the market would have flared up today," he added.The deal may push the Ranbaxy stock to around Rs 650 as against the open offer price of Rs 737 to be offered by Daiichi Sankyo, which has signed a deal with the promoters of Ranbaxy. "Ranbaxy is a buy at the moment," Kapadia added.

Following is the press release issued by RanbaxyRANBAXY AND PFIZER SETTLE LIPITOR LITIGATION WORLDWIDE
* Ranbaxy will Market Generic Atorvastatin in the U.S. with 180 Days Exclusivity from Nov. 30, 2011
* Agreement Also Resolves Caduet, Accupril Litigation in the US
Gurgaon, Harayana, India; Princeton, NJ, USA – June 18 , 2008 -- Ranbaxy Laboratories Limited (Ranbaxy), announced today that it has entered into an agreement with Pfizer Inc. to settle most of the patent litigation worldwide involving Atorvastatin (Lipitor), the world’s most-prescribed cholesterol-lowering medicine. This decision will allow for an earlier introduction of a generic formulation that will benefit patients and many healthcare systems throughout the world. Lipitor is the world's largest selling drug with worldwide sales in 2007 of $12.7 billion.

The agreement pertains solely to Ranbaxy and its affiliates and does not cover legal challenges to the Lipitor patents involving other generic manufacturers. However, as Ranbaxy was the first generic challenger to the listed Lipitor patents, it retains the right to the marketing exclusivity of 180 days in the United States. Under the terms of the agreement, Ranbaxy will have a license to sell generic versions of Atorvastatin and the fixed-dose combination of Atorvastatin-Amlodipine besylate in the United States effective Nov. 30, 2011.

Welcoming the development, Malvinder Mohan Singh, CEO and MD, Ranbaxy Laboratories Ltd., said, “This comprehensively settles outstanding issues between Ranbaxy and Pfizer bringing to closure a number of ongoing patent disputes. It also provides certainty and visibility to the launch of Ranbaxy’s Generic Atorvastatin, with180 day market exclusivity in the US and an early entry in other markets. This will make the worlds largest selling drug more accessible to patients who will gain from the timely availability of an affordable quality option.”

Ranbaxy will also have a license to sell Atorvastatin on varying dates in an additional 7 countries, including: Canada, Belgium, Netherlands, Germany, Sweden, Italy and Australia. Ranbaxy and Pfizer have also resolved their disputes regarding Atorvastatin in Malaysia, Brunei, Peru and Vietnam.

In addition, the lawsuits between Pfizer and Ranbaxy regarding Atorvastatin will be dismissed in select countries and the lawsuits between Pfizer and Ranbaxy regarding the fixed dose combination product containing Atorvastatin and amlodipine will be dismissed in the U.S. and Ranbaxy will no longer contest the validity of Pfizer’s patents in such countries. Such patent challenges by Ranbaxy regarding Lipitor have been underway in numerous markets since 2003.
The Atorvastatin patents involved in this agreement are the basic compound patent, which expires in the United States in 2010; the enantiomer patent, which expires in the United States in 2011; and various process and crystalline form patents, which expire in 2016 and 2017; and the combination patent for fixed-dose combination product which expires in 2018.

The agreement also covers the fixed-dose combination of Atorvastatin-Amlodipine besylate (presently marketed under the brand Caduet, which also contains crystalline Form I Atorvastatin), a fixed-dose combination product indicated for patients suffering from both high blood pressure and high levels of cholesterol. The patent for the fixed-dose combination expires in 2018. The settlement also resolves additional patent litigation between the companies involving the branded drugs Accupril (in the U.S.) and Viagra (in Ecuador) and all patent litigation with Ranbaxy relating to generic formulation of Quinapril hydrochloride in the United States and Sildenafil in Ecuador.

Litigation between Ranbaxy and Pfizer relating to Lipitor will continue in five other European countries -- Finland, Spain, Portugal, Denmark and Romania.

Ranbaxy CEO sees consolidation wave over 3 years

Source: Above sites. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

17 June 2008

ET Stories and Results

http://economictimes.indiatimes.com/

Inflation may hit double-digit:

RBI allows Sahara to accept deposits maturing till June 2011
World will run out of Internet addresses by 2010

Nifty June discount widens / Voltas buys 50 pc stake in JV firm with Fedders International

Tata Steel forms JV for Orissa power project
KEC secures Rs 160 cr contract from NTPC

L&T in talks to acquire Crompton's projects biz

Sensex adds 300 pts on global cues, short covering

FIIs invest in shares worth Rs 142.36 crore

------------------------------

Rediff.com

Anil Ambani eyes over 40% MTN pie

• Spotted: Warren Buffet in Omaha • Warren Buffett's 6 smart tips

• Ganesh Natarajan's Tech Blog• All about insider trading

• States to roll back jet fuel tax cuts• How oil prices are hurting economy

--------------------------------

Results from Indiaearnings.com

Tata Comm Q4 stand net profit at Rs 58.9 cr

BPCL Q4 net profit at Rs 58.4 cr

Zee Entertainment FY08 net profit at Rs 416 cr

SREI Infra FY08 net profit at Rs 135 cr

Source: Above sites. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Goyal in talks for Jet stake sale and other Stories from UTVi

Goyal in talks for Jet stake sale

Naresh Goyal is left with little choice but to share his precious stake in the country's largest private airline Jet Airways. Sources tell UTVi that Goyal is in preliminary talks with steel baron Lakshmi N. Mittal and telecom czar Sunil Mittal for a stake sale.

After refusing to dilute his 80% promoter stake till about a year back, experts say Goyal may now be willing to bring his stake down to 51%. They also say aviation in India has great potential, and it may make sense for big businessmen with deep pockets to invest in it at this stage when valuations are plummeting. Investment bankers say Jet could fetch a valution of $1.5-2 billion.
Jayesh Desai, director, Ernst and Young, says: "Jet is still one of the most successful airlines in the Indian aviation market. People like Sunil Mittal and Lakshmi N. Mittal would be keen to participate in the growth story of the Indian aviation market."

This comes after Goyal has exhausted all other options of raising money. He has had little luck with private equity players who are not willing to give the valuations Goyal has been demanding. The capital markets have been playing spoil sport for Jet - it has not managed to rasie $400 million through the rights issue that has been indefinitely deferred.

Desai adds: "Investors have been shying away from Indian airlines but Jet could be a standard core infrastructure investment..." Jet Airways, like other airlines, is currently struggling, and it has already put its international expansion on hold. The airline is also cutting all possible corners to reduce costs.

Other UTVi stories:
Sensex ends up 300pts, HDFC gains 6%
Buzzing stocks: Sasken, Piramal Life
RBI gives Sahara 7 yrs to repay deposits
BPCL FY08 net down 17% to Rs 1,769cr
Deposit rates move up
McCain supports India in G-8

Source: http://www.utvi.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

deadpresident blog updates

http://www.deadpresident.blogspot.com

Post Session Commentary - June 17 2008
Upmove continues, Sensex sizzles past 15,650
Higher advance tax payment, good monsoon lift spirits
India, China top outsourcing hubs
Reliance Industries, BGR Energy Systems, Cairn India, India Economy, Automobiles
NIIT Limited / Grasim Industries / Elecon Engineering, Ranbaxy Open Offer
Plethico Pharma /India Power Utilities /Education Sector
GAIL / ABG Shipyard, Anant Raj Industries, KPIT Cummins
Genus Power Infrastructure /Time Technoplast

Source: http://www.deadpresident.blogspot.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

16 June 2008

India Inc pays higher Q1 advance tax:UTVi

India Inc pays higher Q1 advance tax

India Inc today reported higher advance tax numbers for the first quarter of the current fiscal (Q1FY09).

ICICI Bank reported a 36% increase in advance tax payment at Rs 340 crore for Q1FY09 when compared with Rs 250 crore paid in the first quarter of the previous fiscal (Q1FY08).

SBI reported a 32% increase in advance tax payment at Rs 663 crore for Q1FY09 when compared with Rs 503 crore paid in Q1FY08.

IDBI advance tax payment was up 43% at Rs 10 crore for Q1FY09 as against Rs 7 crore paid in Q1FY08. Bank of Baroda has paid Rs 140 crore.

Reliance Industries has paid an advance tax of Rs 340 crore for Q1FY09 when compared with Rs 295 crore paid for Q1FY08.

While Ambuja Cements paid an advance tax of Rs 100 crore, Bajaj Buto paid a lower advance tax of Rs 50 crore for Q1FY09 when compared with Rs 60 crore paid for Q1FY08.

HDFC has paid an advance tax of Rs 140 crore for Q1FY09 when compared with Rs 95 crore in Q1FY08. Tata Motors has paid an advance tax of Rs 30 crore.

Other UTVi stories:

Daiichi may revise Ranbaxy offer price
Lehman Bros reports Q2 loss of $2.8 bn
No spectrum for MVNOs: Trai
VAT Panel seeks Rs4,000cr from Centre
Sensex ends up 206pts, ICICI Bk gains 4%
Buzzing stocks: Savita, Engineers India
No rate hikes likely now: Kochhar
Returns from stocks lower than FDs
MTN in India as Ambani guns blaze
Saudis to pump oil at fastest rate

Source: UTVi.com

ET Stories and The 10 top challenges for India

The 10 top challenges for India

India could be 40 times bigger by 2050, and may also have the potential to be larger than the US by that time. To achieve this, however, India needs to implement many changes. These are the findings of a global research report on ‘Ten Things for India to Achieve its 2050 Potential’, brought out by Jim O’Neill, Head Global Research at Goldman Sachs, and Tushar Poddar, V-P Research, Asia Economic Research Team at Goldman Sachs India. The reports lists a number of things for India to do, such as improving its governance, controlling inflation, introducing credible fiscal policy, liberalising financial markets and increasing trade with its neighbours. “Delivery of all these and more would ensure strong, persistent, medium-to-long-term growth, allowing India to reach its amazing potential,” it says. Here are the 10 top challenges for India:

1) Improve governance
Without better governance, delivery systems and effective implementation, India will find it difficult to educate its citizens, build its infrastructure, increase agricultural productivity and ensure that the fruits of economic growth are well established. Governance problems stem from the increasing inability of the government and public institutions to deliver public services in the face of rising expectations. A large gap between physical access to services and the quality of services provided is leading to a citizen satisfaction gap.

For more details, Visit @
The 10 top challenges for India

Other ET stories:
Bankers should shed conservatism in credit to entrepreneurs:FM
JSW Steel to set up steel plant in Georgia
Tata Steel to set up power plant in Orissa
Tata Tele-Virgin deal gets TRAI clean chit
Idea needs just three quarters to trunaround Spice

Oil falls, Saudi pushing output to highest since '81
Short covering on cards, resistance in 4700-4750 zones
BSE revises sectoral indices, PSU index
PINC puts 'buy' on Time Technoplast; target Rs 1,215
Maytas Infra bags Gulbarga airport project

Next leg of the bull run likely to begin soon
Avon Weighting System subscribed 45 times
HSBC launches insurance JV with Canara Bank and Oriental Bank

Investor's Guide
Techno wrap: Fast ride to nowhere
Royal Orchid Hotel: Walk on the red carpet
Metal market: Grab them while you can

Stocks to buy: OBC, Bhushan Steel, Pantaloon Retail, ABG Shipyard
Bharti Airtel attracts higher valuations than RCom
Mkt fall leaves a slew of undervalued stocks

More pain in store for European pharma
Lotus Eye Care Hospital's IPO: For the high 'n' mighty
IDFC Private Equity: Driving dreams

Derivatives diary: Beginning of the last bear market
Stock market still trading 25-30% higher
---------------------------------------------------------------------
Quarterly Results from www.Indiaearnings.com

Zee Entertainment FY08 net profit at Rs 416 cr
SREI Infra FY08 net profit at Rs 135 cr
Sunflag's Q4 FY08 PAT was at Rs 22 crore
Shipping Corp Q4 net profit at Rs 249 cr
NIIT Tech FY08 net profit up at Rs 135.26 cr
ABG Shipyard Q4 net profit at Rs 46 cr
Dhanalakshmi Bank Q4 FY08 PAT was at Rs 9.4cr
Karur Vysya Bank Q4 PAT was at Rs 70.5cr
HOV Services Q4 net profit was at Rs 31.7 cr

Source: www.theeconomictimes.com and www.indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Reuters India Articles

http://in.reuters.com/money

Oil surges to new record high near $140 a barrel
Global dreams intensify Ambani family feud
Monsoon rains lash India, cover most of country
Govt revises duties on iron ore, steel

HSBC launches India insurance JV, eyes Asia growth
Indian shares rise 1.4 pct, Reliance Comm drops
Jet Airways to put global expansion on hold - exec
US STOCKS-Wall St opens lower on oil surge, data

Lehman loss matches forecast -- $2.8 billion
Bush wins European backing over Iran sanctions

Source: http://in.reuters.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

GDP to grow at 9.5% in FY'09: CMIE

GDP to grow at 9.5% in FY'09: CMIE

India's real GDP is expected to grow at an impressive 9.5 per cent in FY'09, the Centre for Monitoring Indian Economy said in its monthly review in Mumbai.The Indian economy is heading towards the fourth consecutive year of an over 9 per cent growth and like in the last five years, growth this year too was expected to be driven by capital investments happening in India, CMIE said.

As per CMIE CapEx Service, projects worth Rs 340,000 crore (Rs 3400 billion) are scheduled for commissioning in FY'09. This would be the highest ever completion of investments in the Indian history, CMIE said.

The current growth phase of the Indian economy is driven by the capital investment boom in the country. India's GDP started rising by over eight per cent since FY'04. And, the gross capital formation grew in the range of 13-23 per cent during this period.

CMIE expects growth in GSF to accelerate to 18.7 per cent in FY'09 from 13.4 per cent in FY'08. This robust growth in GSF is expected to more than offset the moderation in the growth in private final consumption expenditure and Government final consumption expenditure.
CMIE stated that the PFCE is expected to grow by five per cent in FY'09, after growing by 7-9 per cent in the preceding three years. While the slower growth in the PFCE would mainly be on account of the higher base last year, the prevailing high inflation would also affect the consumption demand to some extent.

However, inflation is not expected to depress the PFCE dramatically as income levels in India have also gone up significantly in the last one year.
This is evident from over 20 per cent rise in wages and salaries of the manufacturing sector and the 57.6 per cent rise in income tax collection by the Government during FY 08.

Hence, despite a moderation, CMIE expects the growth in the PFCE to remain healthy.
Since the sole growth driver in FY 09 is going to be GCF, one may wonder 'what if all the projects do not get commissioned in FY 09?'

CMIE believe that even if half of the projects (scheduled for completion) get implementated, it would give a big push to the growth of the Indian economy. It is the huge employment and demand for primary and intermediate goods generated during the implementation of these projects, which is more important than the actual commissioning of the capacities.

CMIE pointed out that the implementation of these huge investments to help the construction sector clock a robust 15 per cent growth in FY 09. Also, the implementation of these projects is going to lead to higher demand for machinery, steel, cement and other construction items.
Thus, the implementation of capital investments will continue to generate demand for goods and services and their completion would ensure that there are enough supplies to meet the freshly generated demand.

Source: www.rediff.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Know About: OPEC

http://en.wikipedia.org/wiki/Opec

OPEC
The Organization of the Petroleum Exporting Countries (OPEC) is a group of thirteen states [1][2] made up of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Libya, Algeria, Nigeria, Angola, Venezuela, Ecuador, and Indonesia. Recently, Indonesia has decided to quit the organization, though it will remain a member until the end of 2008. The organization has maintained its headquarters in Vienna since 1965, hosting regular meetings between the oil ministers of its member states.

According to its statute, the principal goal is the determination of the best means for safeguarding their interests, individually and collectively; devising ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry."[3]

OPEC's influence on the market has been negatively criticized. Several members of OPEC alarmed the world and triggered high inflation across both the developing and developed world when they used oil embargoes in the 1973 oil crisis. OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in the Gulf of Mexico and the North Sea, the opening up of Russia, and market modernization. OPEC nations still account for two-thirds of the world's oil reserves, and, as of March 2008, 35.6% of the world's oil production, affording them considerable control over the global market. The next largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%, respectively, of the world's total oil production.[4] As early as 2003, concerns that OPEC members had little excess pumping capacity sparked speculation that their influence on crude oil prices would begin to slip.[5][6]

For more, visit @ http://en.wikipedia.org/wiki/Opec

Source: http://en.wikipedia.org . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

15 June 2008

Saudi to raise oil output above 9.5 mbpd in July : Reuters

http://in.reuters.com/money/news

Saudi to raise oil output above 9.5 mbpd in July
DUBAI (Reuters) - Top oil exporter Saudi Arabia is poised to boost output in July to the fastest rate in years to help keep pace with demand and tame what it sees as unacceptably high prices, industry sources said on Sunday.

Riyadh's expected production increase -- the second in two months -- would lift flows above 9.5 million barrels per day (bpd) from about 9.45 million bpd now, the sources said.
The Saudi output plans come to light a week before the kingdom hosts an unprecedented meeting of producers and consumers to tackle market instability.

A relentless rise in oil prices to well above $130 a barrel has sparked fuel protests from Asia to Europe and roiled financial markets as policymakers fear higher inflation will slow the global economy."Saudi output in July most probably will be above 9.5 million," said one industry source, speaking on condition of anonymity.

"The situation right now is 'if the customers ask, they will get.'" Saudi Arabia has already increased supply by 300,000 bpd this month from May to meet demand from buyers primarily in the United States. Industry insiders declined to say how much more the kingdom would pump in July, but one source said output would not reach 10 million bpd.

Oil fell nearly $2 a barrel on Friday after industry newsletter the Middle East Economic Survey reported Riyadh was considering a sizeable output increase to near 10 million bpd. Continued...

Other REUTERS Report:
DLF, Unitech shelve REIT IPOs - paper
Reliance Comm: MTN talks progressing despite Reliance Ind claim
Inflation threatening Asia poverty fight - ADB
OPEC's Badri says don't blame us for record oil
Sterlite, Tata Power enter India benchmark index
India Hot Stocks:IOC, ONGC up on plans to invest in Iran

Source: http://in.reuters.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

PE updates from VCCircle.com, Indiape.com

http://www.vccircle.com

Newbridge May Buy 49% In Shriram City Union For $150 Million
Idea To Pay Rs 2,200 Crore For Modi Stake; TM May Get 20% In Idea
SBI To Go Ahead With Rs 500 Crore SME-Focused PE Fund; It Will Hold 20%
Onida Owners Mirchandanis Settle Dispute; Gulu Buys Out Brother’s Stake
Mukesh Tells Anil To Offer RCOM First To Him, Not MTN

Aegis Media Acquires Majority Stake In Communicate2; More Deals In The Offing
India Hospitality Corp Hires Ravi Deol; To Raise $200 Million Fund
Acumen Fund Invests Rs 4.5 Crore In Kochi Ayurvedic Chain
Pfizer May Challenge Daiichi Sankyo’s Offer To Ranbaxy: Report
Genesis Colors Gets Rs 110 Crore Backing Of Sequoia, Mayfield, SVB

Mapping Company SatNav Gets $7 Million From Sequoia Capital India
Anil Ambani Hires Keshav Sanghi To Build Indian Version Of Goldman Sachs
Non-Promoter Shareholders At Ranbaxy Not To Gain Much From The Deal
3i Infrastructure Raises $223 Million; Upbeat About Alternative Energy
Vikram Pandit’s Old Lane Hedge Fund Is On The Verge Of Closure

-------------------------------
IndiaPe.com

Spice may buy 39% stake in Sony TV
PE deals touch $6.39 bn in so far this year
Subhkam Ventures ups its stake in Shakti Pumps
Saraswat Bank seeks RBI approval for takeover

Telekom Malaysia buys 15% in Idea for $2b
SBI to create Rs 500 crore PE fund for SMEs
NYT to buy 5% stake in in Sieger Solutions
D E Shaw plans $200-mn education blitzkrieg

VenturEast invested in Itero Pharma
Merrill, Lehman among four firms in race for VMIL stake
BCCL buys stake in travel co
RIL eyes acquisitions in polyester biz

Sequoia Capital invests Rs 30 cr in SatNav Tech
IFGL acquires German major
Aegis to invest $100 mn, takes stake in search marketing firm

Source: www.indiape.com and www.vccircle.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information

BusinessLine Recommentations

http://businessline.in

BGR Energy Systems: Buy
Investors with a three-year perspective can consider investing in the stock of BGR Energy Systems. The recent results posted by the company and the strong growth in order book belie fears of a slow down in the engineering services ... More

Pharma: A booster dose
The ongoing deep correction has been less harsh on large-cap pharma stocks. While the benchmark Sensex has shed over 30 per cent from its highs of early January, select stocks such as Ranbaxy, Sun Pharma, Glenmark and Lupin have ... More

Tata Elxsi: Buy More

FMCGs: Resilient marginsThe FMCG sector has been among the more resilient ones in the recent market meltdown, with the BSE FMCG index losing only 2 per cent so far this year. Though market fancy for FMCGs has been driven partly by its “defensive” ... More

Kaveri Seed Company: Buy More

Archidply Industries: Invest at cut-off More

Templeton India Growth: InvestConservative investors can add Templeton India Growth Fund to their portfolios. The fund, which focuses on picking “value” stocks, has a more than ten-year track record in fund management — a record marred by substantial ... More

Lotus Eye Care Hospital: Invest at cut-off More

Investment NuggetsManager of Wintergreen Fund and formerly chief executive officer and chief investment officer of Franklin Mutual Advisers, David Winters is a value investor. He believes in holding solid companies for the long-term. ... More

ECONOMY Market ViewEven if GDP growth slows, as it will, in FY09, by about one percentage point or a tad more, the outcome may not be a major negative from an economic perspective; This lower rate is going to be a high base created by average GDP growth of about ... More

What’s AheadThe market is likely to track global markets in the week ahead. Macroeconomic indicators such as domestic industrial output growth at 8.1 per cent in 2007-08 (April-March) compared with a much higher 11.6 per cent growth in 2006-07 as well as ... More

Source: www.businessline.in. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information

Reliance Industries Annual Report : Deadpresident blog

http://www.deadpresident.blogspot.com

Reliance Industries Annual Report

Other Reports from Blog
Market may remain edgy
Weekly Technicals - June 15 2008
Good to be in FMCG
Archidply Industries IPO Review

Lotus Eye Care Hospital IPO review
Asian Paints, HDFC Bank, Pharma, Tata Motors
BSE index inclusions and exclusions
NIIT Technologies - not rosy

Banking Sector Update
Tata Sponge / Fertilizer Sector
Grey Market - Sejal Architectural Glass, Archid Ply Industries
Hotel Leela, Royal Orchid Hotels

Source: http://www.deadpresident.blogspot.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

14 June 2008

Sterlite, Tata Power enter SENSEX and ET Stories

Sterlite, Tata Power enter BSE index

Sterlite Industries, non-ferrous metals company, and Tata Power Co Ltd will enter the country's benchmark BSE Index after a rejig, the stock exchange said. The two stocks replace Ambuja Cements Ltd and Cipla Ltd, the statement, released on Friday, said. The revisions will be effective from July 28, it added.

Other Top stories from ET:
Analysts' Picks: NIIT, BPCL, Patni
Regulators to ease rules for listing
Govt hikes excise duty of big cars
Hindalco considers equity rights issuance
Deccan Chronicle in talks for unit stake sale to NYT
I&B Ministry sets up TV content monitoring centre
Repo hike won't tame inflation
Short build up widens June discount, F&O volume down 22%

Asia stocks post biggest weekly dip in 10 months
China stocks post biggest weekly loss since 1996
HK stocks fall to end week 7 pc lower
Wall Street finishes with sharp gains
India's real estate to clock 30 pc growth in next ten years
Did mutual funds get wind of the Ranbaxy deal?

For more@ http://economictimes.indiatimes.com/headlines.cms

Source: www.Theeconomictimes.. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

MoneyToday Dated June 26,2008

http://moneytoday.digitaltoday.in/
LATEST ISSUE Jun, 26, 2008

Cover Story
Protect your health
Narayan Krishnamurthy
As health care costs soar, medical insurance can be the difference between prosperity and bankruptcy.
Before you buy your policy...
What cover should you take?
Hassle-free settlements

Stocks
Stock watch as on June 4
We tie up with Trisys research to identify stocks that aren’t in the limelight, but have high returns potential .
Crude way to shock markets

Real Estate
Better environment, better health, better savings

Sector Scenario
Ride high on FMCG
R Sree Ram
Slowdown may affect demand in other sectors, but nobody is going to cut their grocery bills. R Sree Ram looks at the best bets.

Stock watch
Metal stocks perform well
The rise in commodity prices has helped metal stocks to post the highest returns in the past year.

Mutual Fund
Balanced equity funds in demand
In the past six months balanced equity funds have been hit by high equity exposure.
'Don’t go by price of NFOs'

More @ http://moneytoday.digitaltoday.in/index.php?latn=1

Source: http://moneytoday.digitaltoday.in . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

19 June 2008

Ranbaxy, Pfizer sign truce over Lipitor, Reliance Big to light up screen with Spielberg

18 June 2008

ET Stories

Rediff Articles

VC, PE updates and Deadpresident Blog updates

Quarterly Results

Pfizer, Ranbaxy settle Lipitor dispute: UTVi

17 June 2008

ET Stories and Results

Goyal in talks for Jet stake sale and other Stories from UTVi

deadpresident blog updates

16 June 2008

India Inc pays higher Q1 advance tax:UTVi

ET Stories and The 10 top challenges for India

Reuters India Articles

GDP to grow at 9.5% in FY'09: CMIE

Know About: OPEC

15 June 2008

Saudi to raise oil output above 9.5 mbpd in July : Reuters

PE updates from VCCircle.com, Indiape.com

BusinessLine Recommentations

Reliance Industries Annual Report : Deadpresident blog

14 June 2008

Sterlite, Tata Power enter SENSEX and ET Stories

MoneyToday Dated June 26,2008

Zoho One

Subscribe via email

Blog Archive

Market Stats, Stock Market News

Other Stock Related

LinkedIn Member

E-Magazines, NewsOnline

Other USEFUL Links

Stocks & Venture & Tech space

About Us

Total Pageviews

Labels

Search This Blog