Reliance Infrastructure : Reliance Infrastructure
Reliance Infrastructure Ltd Research Report
ONGC ONGC opens Helium extraction plant
ONGC opens Helium extraction plant
Mahindra & Mahindra (M&M)
Mahindra & Mahindra (M&M), the country’s largest utility vehicle maker, is in talks to acquire Kinetic Motors, the Pune-based two-wheeler manufacturer. The move signals M&M’s interest in the two-wheeler segment, which has seen sharp growth and fierce competition in the past few years. The maker of Scorpio has been trying without success to get into the segment for the past few years. A greenfield venture would have been too time-consuming and expensive, given the entrenched nature of competition in the industry. Acquisition of the right asset at the right price was M&M’s best possible option.
Oil cos to get 50% revenue loss as bonds in FY08
The government said oil companies would get 50% of revenue loss as bonds in FY08, reports. “Total bond issue to oil companies for FY08 stands at Rs 35,300 crore.”
Earlier in the day, the Finance Ministry had opposed issue of oil bonds covering 57% of under recoveries of oil marketing companies. The Oil Ministry said the government is not looking at hiking auto fuel prices now.
The Finance Ministry plans to decide on the quantum of oil bonds soon, it said. “The Ministry is not seeking SLR status for bonds to oil companies. It has discussed the possibility of marginal price hike, but no decision yet has been taken.”
However, the Cabinet is in favour of issuing bonds to oil marketing companies to cover their 57% revenue loss.
There is some relief for oil marketing companies in the face of skyrocketing crude prices. The Finance ministry has decided to part fund under-recoveries of OMCs to the extent of 50% through oil bonds. But even that may not be enough.
Finally, there is some relief for bleeding oil-marketing companies. With crude hovering in the region of USD 123 per barrel, the Finance Ministry has stepped in and decided to compensate the under-recoveries of oil marketing companies for FY07-08 to the extent of 50% through oil bonds. The Finance Ministry has today issued oil bonds worth about Rs 14,967 crore to part fund the under-recoveries for 2007-08, pegged at a staggering Rs 70,600 crore. This takes the total bond issuance for the last fiscal to Rs 35,300 crore
Gokul Refoils IPO Allotment Status
Gokul Refoils and Solvents IPO has been Over Subscribed by 3 times till now.
Retail investors can look forward to good allotment chance.
Gokul Refoil IPO Allotment status and Allocation Details will be posted here as and when available.
Gokul Refoil and Solvents IPO listing date will also be posted here soon.
Mumbai and Delhi to now consume only branded fuel
Delhi, Mumbai and other metros will soon have to convert to branded fuel! Oil marketing companies are looking to stop selling normal fuel at most of their retail outlets in these cities.
Mercator to invest Rs 4,000 cr
Mercator Lines has drawn up a Rs. 4,000crore capital expenditure programme for the next two years to expand its fleet of ships to cash in on the growing dry bulk market and consolidate its presence in highgrowth markets.
Lee Cooper to enter value segment in India
Completing a year in the Indian market, Lee Cooper is now targeting the value segment with a new subbrand Famous Basics by Lee Cooper. Pitting its new brand against the existing multinational denim brands such as Signature from Levi’s and Hero from Wrangler, Lee Cooper is pegging its ‘economy’ brand in the Rs 599 Rs 1,299 price band.
Graphite India to add 10,500 t at Durgapur plant
Graphite India Ltd will expand graphite electrode capacity by 10,500 tonnes at a cost of Rs 187.50 crore at its Durgapur plant.
TRAI move to open up internet telephony within India
Making cheaper calls from a PC to a phone in India could soon become a reality, with telecom regulator TRAI on Monday seeking views from the industry and experts on the issue of allowing ISPs to provide internet telephony to call landline or mobile subscribers, within the country.
