Times of IndiaPosted by Yogesh on Thursday, 29 May, 2008
State Trading Corp., India’s second- biggest state-owned trading company, called bids to import 8,000 metric tons of lentils to boost supplies as demand exceeds output.
State Trading sought offers for 6,000 tons of black matpe and 2,000 tons of yellow tur of Myanmar origin for delivery in June to the Mumbai port, the New Delhi-based company said on the government’s Web site.
Suppliers have until June 2 to submit offers. Source Bloomberg
Posted in Corporate News | Tagged: lentils, STC | Leave a Comment »
Posted by Yogesh on Thursday, 29 May, 2008
May 29 (Bloomberg) — Roy Paul, assistant manager of treasury at Federal Bank Ltd. in the southern Indian city of Kochi, comments on the outlook for India’s rupee.
The local currency was little changed today at 42.7450 per dollar as of 10:56 a.m. in Mumbai, according to data compiled by Bloomberg. The currency has weakened 5.2 percent this month.
“We are experiencing stronger dollar demand this month because of the rise in oil prices. Importers are preferring not to leave payables uncovered, which has pushed demand for forward dollars as well. Read the rest of this entry »
Posted in Indian Economy | Tagged: Fedral Bank, Rupee vs Dollar | Leave a Comment »
Posted by Yogesh on Thursday, 29 May, 2008
MUMBAI, May 29 (Reuters) – India’s Sun Pharmaceutical Industries Ltd (SUN.BO: Quote, Profile, Research) said on Thursday Israel’s Taro Pharmaceutical Industries Ltd TAROF.PK cannot end their merger, and it would consider all its options, sending its shares down more than 5 percent.
Taro said on Wednesday it had terminated its merger agreement with Sun, and that its board had “unanimously” rejected Sun’s revised offer of $10.25 per share as inadequate. “Taro is not entitled to terminate the merger as per our agreement,” Sun’s chairman and managing director, Dilip Shanghvi, said in a statement on Thursday. Read the rest of this entry »
Posted in Corporate News | Tagged: Sun Pharma, Taro Pharma | Leave a Comment »
Posted by Yogesh on Thursday, 29 May, 2008
NEW DELHI, May 29 (Reuters) – India on Thursday approved 14 foreign direct investment proposals totally worth 8.26 billion rupees ($193 million), including in electrical-products maker Havells India Ltd (HVEL.BO: Quote, Profile, Research).
Finance Minister Palaniappan Chidambaram approved the issue of shares and convertible warrants by Havells for 2.78 billion rupees, the government said in a statement. Source Reuters
Posted in Indian Economy | Tagged: FDI, Havells India | Leave a Comment »
Posted by Yogesh on Thursday, 29 May, 2008
NEW DELHI, May 29 (Reuters) – India’s Videocon Group is planning to invest 60 billion rupees ($1.4 billion) in a 1,000-megawatt hydro power project in north India, Chairman Venugopal Dhoot told reorters.
The group was in talks with potential partners in the United States, he said. Source Reuters
Posted in Corporate News | Tagged: Hydro Power, Videocon | Leave a Comment »
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