News: Ø Tata Consultancy Services has bagged a multi-million euro deal from Norwegian firm DNB. Ø Wipro is understood to have bagged a multi-year contract from Deutsche Bank valued around $125 million (around Rs 850 Crs). Ø Gujarat Gas in pact to buy 0.85 mcmd gas from Gujarat State Petronet (GSPL). GSPL to supply gas to Gujarat Gas from January 2014 to June 2025. Ø The environment ministry has levied a Rs.200 Crs fine on Adani’s Mundra Port and SEZ for damaging mangroves, creeks and local environment. Ø Etihad may complete its purchase of a 24% stake in Jet Airways by September 20 as all regulatory clearances are expected to be in place by then. Ø The Cabinet Committee on Economic Affairs has given the final nod Strides Arcolab for the USD 1.6 billion Mylan deal. Mylan says that the transaction is expected to close in Q4 of 2013. Ø Reliance Industries is looking at oil and gas investment opportunities overseas, particularly in Venezuela, where it has offers for at least two exploration blocks. Ø Lanco Group has retrenched about 50% of its 8,000 workforce during the last 15 months. Ø Spicejet has it has announced an airfare hike by 25-30 percent owing to the higher ATF prices. Jet too has hinted in that direction. Ø Real Estate companies like DLF, HDIL, Unitech etc can be in focus as the RBI has said that disbursement of home loans by banks should be closely linked to construction and not be paid upfront to developers. Ø Vikram Akula and private equity firm Sequoia Capital sold over 24 lakh shares of SKS Microfinance for nearly Rs. 32 Crs Ø LIC Housing Finance (LICHF) has raised interest rates on home loans by 35 basis points but has spared its existing customers from a rate hike. Ø Future Ventures PE fund Warburg Pincus set to buy a Rs 350 Crs minority stake in Indian ethnic wear brand Biba. Ø Dhanlaxmi Bank Planning to raise Rs 60 Crs in the next couple of months through preferential allotment also planning to raise Rs 200 Crs through right issue or QIP Ø GMR Infrastructure promoter GMR holdings get 1.9 Crs pledge shares released from MOFSL. Key Events for the day: Ø Release of Service PMI in India. Ø Release of Service PMI in UK & Euro Zone. Revised GDP & Retail Sales in Euro Zone. Ø Release of Challenger Job Cuts in US.
Posted on: Wed, 04 Sep 2013 03:48:22 +0000
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