Weekly news<br />
Doubts on 8.8% GDP growth for Q1<br />India grew at its fastest pace in last two years.<br />But large data discrepancies ...
Mukesh picks up 14.12% in EIH<br />Reliance industries took investors surprise with a stake buy in hospitality company for...
Munjal’s, Honda may part ways<br />Honda Motor Company of Japan is in talks with Hero Group to sell its 26% stake in Hero ...
Errors in GDP numbers<br />Centre admits to errors in some GDP numbers.<br />Revised data likely to show economy grew 8% f...
FY11 tax collection may top budget estimate<br />India's tax collections could beat budget estimates of Rs 7,46,000 crore ...
Ailing PSUs may get lifeline through banks<br />Government may throw a lifeline to ailing state-run banks to offer joint v...
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Weekely news of financial sector

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Weekely news of financial sector

  1. 1. Weekly news<br />
  2. 2. Doubts on 8.8% GDP growth for Q1<br />India grew at its fastest pace in last two years.<br />But large data discrepancies prompted many economists to question the strength of economy.<br />The question mark on GDP data will make it difficult for central bank to raise interest rates further.<br />Inflation rate is still at 9.97%.<br />
  3. 3. Mukesh picks up 14.12% in EIH<br />Reliance industries took investors surprise with a stake buy in hospitality company for Rs.1021 cr.<br />Deal upsets ITC’s desire to control EIH one day.<br />Oberoi family’s stake fell to 32% from 46%.<br />Both Reliance and Oberoi said thet there will be no change in the management.<br />
  4. 4. Munjal’s, Honda may part ways<br />Honda Motor Company of Japan is in talks with Hero Group to sell its 26% stake in Hero Honda motors.<br />Hero Honda makes more then half of the bikes sold in India.<br />Currently Hero’s stake is 52%.<br />Both Hero and Honda denied the statement.<br />
  5. 5. Errors in GDP numbers<br />Centre admits to errors in some GDP numbers.<br />Revised data likely to show economy grew 8% from demand side in Q1.<br />Growth in the value of all goods and services produced by India was not corroborated by demand side.<br />The difference in both is of about 0.5%.<br />
  6. 6. FY11 tax collection may top budget estimate<br />India's tax collections could beat budget estimates of Rs 7,46,000 crore ($160 billion) in the fiscal year to end-March 2011.<br />With this govt. could lower the fiscal deficit to below the targeted 5.5 per cent of GDP.<br />could result in federal borrowing being reduced from the record Rs 4,57,000 crore budgeted for the current fiscal year. <br />
  7. 7. Ailing PSUs may get lifeline through banks<br />Government may throw a lifeline to ailing state-run banks to offer joint ventures with private sector players. <br />Out of the total 213 operating PSUs, 54 incurred losses during 2008-09.<br />The loss of sick PSUs stood at `14,424 crore in 2008-09, 40% more than the previous year’s figure. <br />

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