X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Top stories this week - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Dec 16, 2000

    Top stories this week

    ICICI merges with BoM....
    ICICI Bank has finalised its merger plans with Bank of Madura. The swap ratio of the merger of Bank of Madura with ICICI Bank has been pegged at 1:2 – two shares of ICICI Bank for every one share of Bank of Madura. The merger will create the largest private sector bank in the country. This provides ICICI Bank a direct access to the 1.2 million customers of Bank of Madura and its wide branch network. (Dec 12)

    Production gains momentum....
    The Index of Industrial Production (IIP), the benchmark indicator of the manufacturing and mining sector, has shown a 6.6 percent growth in October 2000, the highest in the current year. However, this is lower compared to 8.7 percent witnessed in the corresponding period of the last year. The performance of the manufacturing sector, which accounts for about 80 percent of the index, grew by 5.6 percent in October 2000. In light of this, the Central Statistical Organisation has revised the IIP estimates from 5.4 percent to 6.4 percent. (Dec 13)

    Friendly auto policy on the anvil?
    The draft auto policy 2000 has suggested an eight percent excise duty reduction on cars having engine capacity upto 1,500 cc. If the Cabinet passes this resolution, small cars are expected to get cheaper by Rs 20,000. The draft policy has also suggested a 16 percent uniform duty on construction of bodies. Besides, the policy has also provided for tax rebate in excise for money spent on research and development by auto companies. (Dec 14)

    Optical expansion....
    Sterlite Optical Technologies has planned to invest around US$ 300 million in setting up a greenfield project for optical fibres. The project, expected to have a capacity of 10 million-fibre kilometers will be set up in two equal phases at US$ 150 million each. The first phase is expected go on stream by fiscal year 2002. (Dec 15)

    ITDC up for sale....
    The Department of Disinvestment (DoD) has decided to invite bids for India Tourism Development Corporation (ITDC) to divest nine of its prime hotels. It has also been decided that three of these hotels would be leased out and the remaining three would be sold to strategic partners. ITDC owns 26 Ashok Group of hotels, with a total room capacity of 3,609 rooms. (Dec 9)

    Forex rises....
    The country’s foreign exchange reserves have crossed the US$ 39 billion mark, an all time high. The foreign exchange reserves increased by US$ 730 million to US$ 39 billion during December 2000. Foreign currency assets also increased by US$ 778 million to US$ 37 billion during the same period. (Dec 8)

    ONGC explores....
    The Oil and Natural Gas Organisation (ONGC) has proposed to invest US$ 640 million in the first phase of US$ 1.5 billion redevelopment plan of its Mumbai high oil fields. Undertaken jointly with British consultant Geffney Cline & Associates (GCA), the exercise is expected to improve oil recovery from the current rate of 28 percent to 40 percent. (Dec 14)

    Cummins targets Rs 10 bn....
    Cummins India, the Rs 8 billion engineering company, has planned to increase its focus on the construction business. Currently valued at Rs 100 million, the company has planned to increase this to Rs 3 billion over the next three years. It has also targeted Rs 10 billion by fiscal year 2001. (Dec 14)

    Sterlite to bid for HZL....
    Sterlite Industries, the optical fibre major, has submitted its interest for picking up 26 percent equity stake in Hindustan Zinc. The company has already increased its presence in the downstream aluminium sector with the acquisition of India Foils last year. It also has a 30,000 tonne aluminium smelter and recently has bid for 51 percent strategic stake in Bharat Aluminium Company (Balco). (Dec 15)

    Tata Industries, a group holding company of the Tata Group, has decided to transfer its 100 percent holding in Tata Petrodyne, the group’s oil exploration arm, to Tata Power. Tata Power distributes power to Mumbai and has plans to distribution power when state run privatisation kicks off. (Dec 15)

     

     

    Equitymaster requests your view! Post a comment on "Top stories this week". Click here!

      
     

    More Views on News

    Tejas Networks Ltd. (IPO)

    Jun 14, 2017

    Should you subscribe to the IPO of Tejas Networks Ltd?

    Discover the Secrets of Hidden Smallcaps From These AGMs (The 5 Minute Wrapup)

    May 26, 2017

    Don't be surprised to come across some Super Investors there!

    A Trader's Nightmare. A Business Owner's Delight. (The 5 Minute Wrapup)

    May 19, 2017

    Not all small-cap investors see themselves as traders. Some see themselves as business owners.

    Securities & Intelligence Services Ltd. (IPO)

    Jul 31, 2017

    Should you subscribe to the IPO of Securities & Intelligence Services Ltd?

    Why Super Investors are Underperforming in This Market (The 5 Minute Wrapup)

    Jul 8, 2017

    If Super Investors can wait for the right pitch, so can you.

    More Views on News

    Most Popular

    Demonetisation Barely Made Any Difference to Tax Collections(Vivek Kaul's Diary)

    Aug 7, 2017

    The data tells us quite a different story from the one the government is trying to project.

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    7 Financial Gifts For Your Sister This Raksha Bandhan(Outside View)

    Aug 7, 2017

    Raksha Bandhan signifies the brother-sister bond. Here are 7 thoughtful financial gifts for sisters...

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    MARKET STATS