Weekly news (22 – 26 nov

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Weekly news (22 – 26 nov

  1. 1. By: Nitin Kochhar
  2. 2.  India, the second biggest net importer of goods and services in 2009, just behind US.  India imported $69 billion of goods and services in 2009.  US was a net importer of net $699 billion.  India injected demand into the global markets by creating a demand for products, helping in creating jobs and sustaining other economies.
  3. 3.  Govt has approved splitting each share of ONGC into two.  The govt plans to sell its 5% stake through its FPO.  The company’s share soared to a 52-week high of Rs 1,472 on Sept 28 on BSE.  Chairman and Managing Director of ONGC – RS Sharma  ONGC would be ready for the FPO by the last quarter of this financial year.
  4. 4.  From 20 January, it will be available across the country.  Inaugurated from Haryana, mobile users will be able to switch between 9 operators – Airtel, Idea, BSNL. Aircel, Loop, Vodafone, Etisalat, Sistema and Videocon.  The customer has to pay a maximum of Rs 19 to migrate to a new mobile phone company, the lowest in the world.  After switching, the consumer has to stay with a particular operator for minimum of 3 months before they can change again.  Available for both pre-paid and post-paid consumers.
  5. 5.  The company had, earlier this year, acquired an Egyptian personal-care manufacturer for around Rs 25 crore.  The deal size could range anywhere between Rs 500-1000 crore.  Emami has already announced that it has got its Board approval to raise long-term resources up to Rs 2000 crore through issue of securities.  The limit of borrowings has been increased to Rs 3000 crore from the earlier Rs 1500 crore
  6. 6. thank you

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