Power news9


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Power news9

  1. 1. Power NEWS (17th Oct – 24th Oct, 2010) - Sumit Kalra
  2. 2. Singapore, Australia bourses in merger talks 1. The Singapore Exchange (SGX) and Australia's ASX Ltd are in merger talks, a move aimed at fighting growing competition from newer trading systems and cutting the Hong Kong bourse's widening, China-fuelled lead. 2. Shares of SGX and ASX, Asia's second- and third- largest listed bourses, were both placed on a trading halt on Friday pending an announcement. (http://www.moneycontrol.com/news/world-news/singapore-australia-boursesmerger-talks_493479.html)
  3. 3. Demat accounts inch up on Coal India issue 1. Coal India's bumper issue which closed on Thursday and which got a fantastic response from retail investors saw a fair amount of new investors. 2. The retail portion of the issue was subscribed 2.3 times, where against the 20 crore shares on offer, the company received bids for 458 crore shares. 3. As on September 30, there were a total of 1.77 crore demat accounts in the country and as on October 16 this number has increased to 1.8 crore accounts. (http://www.moneycontrol.com/news/ipo-issues-open/demat-accounts-inch-upcoal-india- issue_493474.html)
  4. 4. Sesa Goa plans Rs 30k-cr foray into steel space 1. Vedanta Group firm Sesa Goa is planning an investment of over Rs 30,000 crore in the steel space in Orissa and Jharkhand and may rope in a global company to jointly run the ventures. 2. The estimated investment in the Orissa project could be Rs 25,000 crore while the Jharkhand venture could cost up to Rs 7,500 crore. (http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/steel/Sesa-Goa-plans-Rs-30k- cr-foray-into-steel-space/articleshow/6802496.cms)
  5. 5. R-Power awards Rs. 10,000 crore order to GE 1. Anil Ambani Group firm Reliance Power has awarded a Rs. 10,000 crore equipment order to GE Energy India for the expansion of its 2,400- MW gas-based power project at Samalkot, in Andhra Pradesh. 2. GE will supply six frame 9FA gas turbines, 3 D-11 steam turbines and generators for the power project under the contract. (http://profit.ndtv.com/news/show/r-power-awards-rs-10-000-crore-order-to-ge-112489)
  6. 6. Inflation may have hit plateau: Pranab 1. Headline inflation in India, which was at 8.62 per cent in September, may have reached a plateau, Indian Finance Minister Pranab Mukherjee said. 2. The Reserve Bank of India, which expects headline WPI inflation to ease to 6 per cent by the end of March, has raised policy rates five times this year to rein in inflation and is widely expected to raise rates by a further 25 basis points on November 2. (http://economictimes.indiatimes.com/news/economy/indicators/Inflation-may-have-hit-plateau- Pranab/articleshow/6803207.cms)
  7. 7. India may beat China next year: World Bank 1. The multilateral lender had pared China’s growth forecast for 2011 to 8.5%, just a shade below its projection of 8.6% for India, catapulting the latter to the top of the growth chart. If the bank’s predictions come true, India will, for the first time, become the fastest-growing among large economies. 2. China said its economy expanded 9.6% in the three months to September, its slowest pace in 12 months. (http://economictimes.indiatimes.com/news/economy/indicators/India-may-beat-China-next-year-World- Bank/articleshow/6789715.cms)
  8. 8. Market Watch Top Gainers (Previous Week) Company Group Previous Close (Rs) Current Price (Rs) % Change Top Losers (Previous Week) BSE LIVE 20,165.86 -94.72 (-0.47%) NSE LIVE 6,066.05 -35.45 (-0.58%) (http://money.rediff.com/) Pipavav Shipyard Ltd A 76.70 92.70 + 20.86 Central Bank A 196.95 228.10 + 15.82 Sesa Goa A 372.70 342.90 -8.00 M&M Fin.Services A 708.90 654.40 -7.69