Monday, July 6, 2009

Headlines : 6 July 2009

Corporate News Headline
JSW Steel announced that its production rose by 45% to 1.4 MT in the first quarter of this fiscal year following robust demand in sectors such as Automobile, Construction and White Goods. (BS)
DLF has raised around Rs. 10 bn through the sale of land parcels across four cities in the past 4-5 weeks and is currently in the process of closing more such deals worth another Rs. 5 bn in the coming weeks. (ET)
SBI has offered a loan of up to USD 1 bn to Bharti Airtel to partly fund the Indian telecom firm's plans to buy a stake in South Africa's MTN. (ET)
Economic and Political Headline
In the Railway Budget for 2009-10, the Indian Railways (one of the largest profit-making industries in the country) has proposed to invest Rs. 407.45 bn in the current fiscal, up from Rs. 367.73 bn in the previous financial year. The Budget did not increase the passenger fares and freight tariffs.(BS)
Six banks in Illinois and one in Texas were seized by the US regulators as the deepening financial crisis pushed the toll of failed US lenders this year to 52, the highest since 1992. (Bloomberg)
The UK service industries from law firms to consultancies grew to 51.6 in June for the second month, suggesting that Britain may be on it way to emerging from the recession. (Bloomberg)

No comments: