News Capsule (30 Jun 10)

  • India’s fiscal deficit from April to May was Rs 1.01 lakh crore ($21.7 billion), or 26.5 per cent of the full-year target, the government said in a statement on Wednesday.
  • Japan’s Sumitomo Mitsui Banking Corporation today announced that it would invest Rs 1,366 crore for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.
  • IVRCL Assets and Holdings Limited issued 1,000 unsecured redeemable non-convertible debentures of Rs 10 lakh each for cash at par, aggregating to Rs 100 crore on a private placement basis.
  • Larsen and Toubro (L&T) today secured many orders totalling Rs 1,383 crore from both international and domestic markets.
  • Bharati Shipyard informed the Bombay Stock Exchange today that the Board of Directors of the company has recommended paying 30 per cent dividend to shareholders, at its meeting held on June 29.
  • Government-owned IDBI Bank today announced its base rate at 8 per cent, below which it will not lend from tomorrow.
  • Bharti to invest $100 mn in Gabon over next 3 years Airtel is looking at penetrating the rural markets of most of the African countries. It has announced investments in Zambia, Malawi and Uganda.
  • Mexico’s energy ministry has denied a media report saying it was planning to construct a new oil refinery in partnership with Indian energy company Reliance Industries.
  • Indian billionaire Mukesh Ambani is close to signing an equal joint venture with US private equity and hedge fund giant D.E. Shaw to enter the financial services sector, a business daily reported on Wednesday, citing two people familiar with the matter.
  • Oil prices extended losses in Asian trade Wednesday as stock markets slumped after economic data from the US and China spurred worries of a stalling economic recovery, analysts said.
  • Mahindra and Mahindra (MM) is looking to acquire Boeing’s Australian facility, quoting Sources, reports CNBCTV18.
  • Dr Reddys Laboratories has launched Anastrozole 1 mg tabs in the US market on June 28
  • Subros has entered into JV with DENSO Corp, reports Business Standard.
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