News Update


• Tata Motors reported 4% increase in its total sales in May, 2012
at 64,347 vehicles.

• RIL agreed to sign agreements with Pragati Power Corp & NTPC
for supply of natural gas from its eastern offshore KG-D6 fields.

• CRISIL plans to acquire Britain-based analytics firm Coalition Development and its subsidiaries for around Rs2.50 bn.

• ACC reported just 3% increase in sales for May, 2012 at 2.05 mn
tons against 1.99 mn tons in May, 2011.

• Power Grid Corporation of India’s board has approved investment
proposals worth Rs34.22 bn.

• A consortium of 25 bankers approved a Rs58 bn CDR of Bharati
Shipyard; its promoters agreed to pump Rs1.18 bn fresh capital.

• Maruti Suzuki to invest Rs40 bn to set up a new manufacturing
facility in Gujarat, raising its total capacity to 2 mn units by FY16.

• U.S. PE firm Warburg Pincus LLC is set to buy a majority holding
in Future Capital Holdings for $100-125 mn.

• Jindal Stainless has approached lenders to reschedule repayments of its over Rs90 bn debt.

• NMDC expects to start producing coal from its captive mine in
Chattisgarh by 2014.

• The controversial retrospective tax on M&A deals could spare
those transactions where Indian assets account for less than half
of the total deal size.

• Coal Ministry identified 54 coal blocks for various sectors, including
16 for power, 12 for steel and 12 for government firms.

• Government has decided to remove multi-level system of TDS
from Software Sector with effect from 1st July, 2012.

• According to a research report by Barclays, Indian pharma market
is set to grow at 15.3% from FY12-FY14.

• Aviation Ministry has sought abolition of service tax on air tickets
and reduction in sales tax on aviation fuel from current 25% to 4%.

US consumer spending rose 0.3% in April, 2012 in line with consensus
estimates and against 0.2% gain in March, 2012.

• Greece’s country ceiling, the highest rating that can be assigned to
a domestic debt issuer, was cut to Caa2 by Moody’s.

• US employers added 69,000 jobs in May, 2012 vs median projection
of 150,000 additions and vs 77,000 additions in April, 2012.

• HSBC China manufacturing PMI dropped to 48.4 in May, 2012
from 49.3 in April, 2012; its 7th straight month below the 50-mark.

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