Power news2

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Power news2

  1. 1. Power NEWS(30 Aug - 04 Sept, 2010)<br />- SumitKalra<br />
  2. 2. April-June quarter GDP growth at 8.8% vs 8.6% QoQ<br />The strong growth may allow the Reserve Bank of India (RBI) to focus more on containing near double-digit inflation.<br />The RBI has raised interest rates four times since mid-March to stamp down inflationary pressures.<br />(http://www.moneycontrol.com/news/economy/april-june-quarter-gdp-growth-at-88-vs-86-qoq_481886.html)<br />
  3. 3. Reliance Industries hikes stake in EIH to 14.80%<br />RIL subsidiary Reliance Industries Investment and Holding Pvt Ltd on Tuesday bought 26,86,885 additional shares in off- market trade.<br />RIL had acquired a 14.12 per cent stake in EIH for Rs 1,021 crore at a premium of 22 per cent per share.<br />(http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Reliance-Industries-hikes-stake-in-EIH-to-1480/articleshow/6475867.cms)<br />
  4. 4. 39 Indian cos in Forbes 'Best Under A Billion' Asia list<br />Among the 200 companies listed by the magazine, 39 are from India while 71 firms are based in China. <br />To name a few, Jindal Drilling & Industries, Emami, Exide Industries, Jubilant Organosys, KNR Constructions, have made it to Asia's 'Best Under A Billion' 2010 list of companies.<br />(http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/39-Indian-cos-in-Forbes-Best-Under-A-Billion-Asia-list/articleshow/6480654.cms)<br />
  5. 5. TirupatiBalaji's jewels to get 52K-crore cover<br />Temple owns about 20 tonnes of gold and diamond jewellery and some of them date back to the 12th century.<br />Preliminary data shows that the valuation of the assets to be insured could be over $10 billion.<br />Till now, ONGC has the largest insurance cover of $26 billion. <br />(http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Tirupati-Balajis-jewels-to-get-52K-crore-cover/articleshow/6483019.cms)<br />
  6. 6. PTC India Financial Services plans IPO<br />PTC India Financial Services is a 100 per cent subsidiary of PTC India Ltd.<br />It would enter the capital market to raise Rs 700-800 crore.<br />The money could be either raised by IPO or through a mixture of IPO and PE funding.<br />(http://economictimes.indiatimes.com/markets/ipos/PTC-India-Financial-Services-plans-IPO/articleshow/6492711.cms)<br />
  7. 7. FY11 tax collection may top budget estimate<br />Tax collections could beat budget estimates of Rs 7,46,000 crore ($160 billion) in the fiscal year to end-March 2011<br />Together with non-tax receipts it could lower the fiscal deficit to below the targeted 5.5 per cent of GDP.<br />(http://economictimes.indiatimes.com/news/economy/finance/FY11-tax-collection-may-top-budget-estimate/articleshow/6487118.cms)<br />
  8. 8. Market Watch<br />Top Gainers (Previous Week)<br />Top Losers (Previous Week)<br /> BSE   LIVE<br /> 18,221.43  <br />-16.88 (-0.09%)<br /> NSE   LIVE<br /> 5,479.40 -6.75 (-0.12%)<br />(http://money.rediff.com/)<br />
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