31st October 2011 to 04th November 2011

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

INDEX NIFTY SENSEX NSE MIDCAP NSE 500 NIFTY JUNIOR BSE SMALLCAP BSE 200 *DOW JONES *NASDAQ NIKKEI HANG SENG SHANGHAI COMP BSE FMCG BSE REALTY BSE HEALTHCARE BSE TECH BSE CAPITAL GOODS BSE PSU BSE BANK BSE IT BSE CONSUMER DURABLES BSE OIL & GAS BSE METALS BSE AUTO
* DENOTES THURSDAY CLOSE

THIS WEEK CLS

5284 17563 7320 4201 10179 6958 2148 12044 2698 8801 19843 2528 4184 1925 6170 3514 11003 7587 11302 5762 6523 9026 11843 9248

LAST WEEK CLS

5361 17805 7240 4230 9998 6960 2163 12209 2739 9050 20019 2473 4153 1923 6171 3522 11036 7616 11372 5830 6633 9179 12143 9571

% CHANGE
(1.43) (1.36) 1.11 (0.68) 1.81 (0.02) (0.69) (1.34) (1.48) (2.75) (0.88) 2.22 0.73 0.09 (0.01) (0.21) (0.30) (0.38) (0.62) (1.17) (1.66) (1.67) (2.47) (3.37)

INDEX MOVERS HINDUSTAN UNILEVER LTD STATE BANK OF INDIA BHEL TATA POWER CO LTD BHARTI AIRTEL LTD COAL INDIA LTD MAHINDRA & MAHINDRA LTD ICICI BANK LTD STERLITE INDS LTD TATA MOTORS LTD NON INDEX MOVERS ALLAHABAD BANK HAVELLS INDIA LTD SUN TV NETWORK LTD BANK OF BARODA JAI CORP LTD GVK POWER & INFRA LTD HINDUSTAN CONSTRUCTION CO MCLEOD RUSSEL INDIA LTD JAIPRAKASH POWER VNT LTD JAIN IRRIGATION SYSTEMS LTD

THIS WEEK CLS

379 1964 334 103 398 326 835 885 123 188

LAST WEEK CLS

349 1907 327 102 392 338 869 933 133 206

% CHANGE
8.41 3.00 1.97 1.57 1.56 (3.46) (3.85) (5.12) (7.34) (8.83)

THIS WEEK CLS

169 418 288 814 93 14 28 243 36 111

LAST WEEK CLS

145 363 254 739 85 15 29 260 39 126

% CHANGE
17.10 14.91 13.11 10.21 9.83 (5.02) (5.64) (6.60) (7.05) (11.88)

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

WEEKLY OVERVEIW After gaining the previous week, Indian Equity Markets ended the trading week in the red as uncertainty in the Euro zone continued to persist. The Sensex lost 1.36% while the Nifty lost 1.43%. The Midcap index as well as the Smallcap Index both outperformed the benchmark indices as the Midcap Index gained 1.11% while the Smallcap Index marginally ended in the red, down just 0.02%. Global Equity markets were trading mostly in the red as uncertainness about a concrete solution to the Euro Zones credit crisis persisted as Greece stated that it would go to its people to seek a referendum about the acceptance of the EU bailout package and later withdrawing that decision. Markets seemed to be unnerved about this as it could lead to an even greater crisis that could affect the larger economies of the EU. In Asia, China was a gainer as concerns about further monetary tightening by the government seemed to ease as economic data suggested that the non manufacturing sector grew at a slower pace than expected. Japanese construction orders fell 9.3% on a yearly basis, indicating that the economy was slowing even as the government upgraded the economic assessment in 8 out of 11 regions indicating an improvement in business activity. European indices were trading in the red as the unfolding situation in the region further dented hopes of finding a lasting solution as any escalation in the credit crisis would make financing requirements for the other members expensive. Economic data too suggested that the euro region was slowing down. Euro zone unemployment increased for the 2nd straight month, manufacturing activity slowed more than expected. German factory PMI for October too fell for the first time in 25 months indicating that the credit crisis was affecting even the largest EU economy. Britain's manufacturing sector contracted at its fastest pace in more than two years in October as new orders plummeted, adding to signs that the country is teetering on the brink of recession. The ECB, in a surprise move, lowered its interest rate by 25 basis points. US indices too were trading in the red in line with global indices. US private sector employment increased more than expected. First time unemployment claimants dropped by 9000 indicating that the labor market continued to remain sluggish. The US Fed left interest rates unchanged and lowered growth rates even as it acknowledged the growth of the economy. Indian Equity markets ended the trading week in the red. Growth in Indias 8 key infrastructure sectors slowed to 2.3% in September from 3.3% a year ago indicating that government measures to reduce price rise were affecting growth. However, Food inflation for week ended October 22 surged to 12.21%, the highest in 9 months. Major Sectoral Gainers were FMCG (0.73%), Realty (0.09%). Major Sectoral Losers were Auto (3.37%), Metals (2.47%), Oil&Gas (1.67%), Cons Durables (1.66%), IT (1.17%). Foreign Institutional Investors were net buyers of Indian Equities of INR 31.47 billion and Domestic Mutual Funds were net sellers to the tune of INR 7.49 billion for the week.
WEEK ENDED 04.11.2011 FII GROSS PUR FII GROSS SELL FII NET FII MTD NET MF GROSS PUR MF GROSS SELL MF NET MF MTD NET
FII DATA TILL TRADE DATE MONDAY

Rs Crores 13622.10 10474.90 3147.20 786.90 1786.10 2535.10 (749.00) (441.99)

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

SENSEX WEEKLY
1 8000.00 1 7900.00 1 7800.00 1 7700.00 1 7600.00 1 7500.00 1 7400.00 1 7300.00 1 7200.00 1 00.00 71 1 7000.00 1 31 201 0/ / 1 1 / 1 201 1 / 1 1 / 2/ 201 1 1 1 / 3/ 201 1 1 1 / 4/ 201 1 1 1 7481 1 7465 1 7482 1 7705 1 7563

DATE

KEY DEVELOPMENTS INTERNATIONAL Consumer sentiment in the U.S. unexpectedly improved in the month of October, according to a report released by Reuters and the University of Michigan. The report showed that the consumer sentiment index for October was upwardly revised to 60.9 from the preliminary reading of 57.5. With the upward revision, the index is above the September reading of 59.4. (Source: RTT News) Japanese Construction orders received by 50 major firms in September fell 9.3% on the year to 1.14 trillion yen, marking the first drop in six months, the Ministry of Land, Infrastructure, Transport and Tourism said. Orders from the private sector saw a 14% decline to 756.1 billion yen, down for the first time in six months, while those from the public sector increased 31.1% to 342 billion yen, up for the third straight month. (Source: Nikkei) Economic assessments for the quarter ended September were upgraded in eight of 11 regions of Japan, including quake-stricken Tohoku, thanks to a recovery in output and personal spending, the Finance Ministry said. (Source: Nikkei) Eurozone unemployment rate increased for a second consecutive month in September, data released by Eurostat showed. The seasonally adjusted jobless rate climbed to 10.2 percent from August's upwardly revised 10.1 percent. Economists had forecast the rate to remain steady at August's original 10 percent. (Source: RTT News) Reflecting an improvement in the labor market conditions, German retail sales expanded in September, but the pace of growth missed economists' expectations. Retail sales rose a calendar and seasonally adjusted 0.4 percent from August, when they fell a revised 2.7 percent, data released by Destatis revealed. Economists had expected sales to increase 1 percent. Year-on-year, retail sales climbed by a less than expected 0.3 percent in September, following a revised 2.5 percent gain in August. Sales grew annually for the second straight month. Economists had forecast sales to rise 1.7 percent. (Source: RTT News) Japan manufacturing sector expanded in October, driven by strong production, survey results from Markit Economics showed. The purchasing managers' index rose to 50.6 in October from 49.3 in September. A reading above 50 indicates expansion of the sector, while a score below 50 suggests contraction. Manufacturing output grew at the steepest pace since July, the survey report said. (Source: RTT News) The Japan government intervened in the foreign exchange market to weaken the yen, after the currency climbed to post-World War II high against dollar, threatening the country's recovery and exports. Reports quoted Japanese Finance Minister Jun Azumi as saying that the move was "unilateral." Azumi has earlier promised strong action to counter the yen as it erased much of the exports gains, hurting firms' profit margins. (Source: RTT News)

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

Chinas official manufacturing Purchasing Managers Index (PMI) fell to 50.4 in October, slowing from the prior months reading of 51.2, but still above the 50 level that separates expansion from contraction. However, the result was well below a median forecast of 51.7 from a Dow Jones Newswires poll of economists. A privately compiled version of the PMI, published by HSBC, printed at 51.0, rising from a mildly contractionary 49.9 reading in September. (Source: MarketWatch) Britain's economy is teetering on the brink of recession despite better-than-expected third quarter growth of 0.5pc, and the pressure on the government to boost growth is rising as fresh turmoil in the eurozone creates new risks. Growth in Gross domestic product was helped by the strongest quarterly increase in four years for business services and finance, the Office for National Statistics said. (Source: Telegraph) Britain's manufacturing sector contracted at its fastest pace in more than two years in October as new orders plummeted, adding to signs that the country is teetering on the brink of recession, a survey showed. The Markit/CIPS Manufacturing Purchasing Managers' Index (PMI) slumped to 47.4 in October, its lowest since June 2009, from a downwardly revised 50.8 the month before. Many companies only maintained their activity by substantially reducing backlogs. (Source: Telegraph) While the Institute for Supply Management - Chicago released a report showing a continued expansion in regional manufacturing activity in the month of October, the pace of growth slowed compared to the previous month. The ISM - Chicago said its business barometer dropped to 58.4 in October from 60.4 in September, although a reading above 50 indicates continued growth. Economists had been expecting the index to drop to a reading of 58.0. The slower pace of growth in manufacturing activity was partly due to a notable slowdown in the pace of new orders growth, as the new orders index fell to 61.3 in October from 65.3 in September. (Source: RTT News) Australias central bank lowered its benchmark interest rate today for the first time since April 2009 as inflation eases and weaker global growth threatens to slow the nations resourcedriven economy. Recent information suggests the subdued demand conditions and the high exchange rate have contained inflation, Reserve Bank of Australia Governor Glenn Stevens said in a statement after reducing the developed worlds highest borrowing costs by a quarter of a percentage point to 4.5 percent. (Source: Bloomberg) The Nikkei Business Index fell for the second straight month in September, dropping 0.9 point from August to 92.2, according to Nikkei Digital Media Inc. Two of the index's four component indicators worsened as post-disaster production increases petered out and the effects of the strong yen and slowing economic activity overseas emerged. Industrial production dropped for the first time in six months, with month-on-month declines in all 16 industry categories. Wholesale and industrial sales, a gauge of consumption, fell 2.6%. (Source: Nikkei) Germany's factory sector shrunk less than estimated earlier in October, final results of a survey by Markit Economics showed. The Markit/BME Germany Manufacturing Purchasing Managers' Index (PMI) fell to 49.1 from September's 50.3. The final reading came in better than the flash reading of 48.9. The factory sector shrunk for the first time in 25 months. The PMI fell for the sixth month in a row to its lowest level since July 2009. A reading below 50 indicates contraction in the sector. (Source: RTT News) Eurozone manufacturing activity contracted more than initially estimated in October, final report from Markit Economics showed. The purchasing managers' index for the managers' index for the manufacturing sector fell to 47.1 in October from 48.5 in September. This was below the flash estimate of 47.3. Signs of weakness are becoming increasingly apparent in the core nations, while the periphery remains mired in recession, Markit said. (Source: RTT News) Chinas non-manufacturing industries grew at a slower pace in October as weakness in investment in real estate and railways offset strength in consumer demand. A purchasing managers index fell to 57.7 from 59.3 in September, the China Federation of Logistics and Purchasing said. The gauge, released with the statistics bureau, includes construction. The data added to signs of moderating inflation that may allow officials to ease monetary or fiscal policy, with the federation reporting notable declines in price indicators. Europes debt crisis and a

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

U.S. recovery that Federal Reserve Chairman Ben S. Bernanke calls frustratingly slow are capping demand for shipments from the worlds biggest exporting nation, increasing the risk of a slowdown. (Source: Bloomberg) The Federal Reserve slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy. However, it took note of a strengthening of the U.S. economy in the third quarter and held monetary policy steady. (Source: CNBC) Britain's dominant service sector grew at a far slower pace than expected last month despite firms cutting prices to drum up business, adding to signs that the country may slip back into recession. The Markit/CIPS Purchasing Managers' Index (PMI) for the service sector fell to 51.3 in October from 52.9, falling short of expectations for a dip to 52 and edging closer to the 50 mark that separates growth from contraction. (Source: Telegraph) Employment in the U.S. private sector increased by a little more than expected in the month of October, according to a report released by payroll processor Automatic Data Processing (ADP), with the report also showing an upward revision to the pace of job growth in September. ADP said private sector employment increased by 110,000 jobs in October following an upwardly revised increase of 116,000 jobs in September. (Source: RTT News) The number of Americans who filed new applications for unemployment benefits fell to the lowest level in six weeks, government data showed, but the small decline suggested little change in a sluggish U.S. labor market. The Labor Department said initial jobless claims dropped 9,000 to 397,000 in the week ended Oct. 29. Initial claims from two weeks ago were revised up to 406,000 from an original reading of 402,000. (Source: MarketWatch) Service industries in the U.S. expanded at a slower pace and consumer confidence plunged, supporting Federal Reserve Chairman Ben S. Bernankes forecast that the economic recovery will be frustratingly slow. A gauge of non-manufacturing industries making up about 90 percent of the economy fell to 52.9 in October from 53 in September, the Tempe, Arizonabased Institute for Supply Management said. Source: Bloomberg) The European Central Bank unexpectedly lowered its interest rates by 25 basis points as the debt crisis scene increasingly turns murkier. The Governing Council led by ECB President Mario Draghi decided to lower the main refi rate to 1.25 percent from 1.50 percent. Economists had expected the rate to be left unchanged in the new ECB chief's inaugural rate-setting meeting. (Source: RTT News) Germany's service sector expanded less than previously estimated in October, final data from a survey by BME and Markit Economics showed. The purchasing managers' index (PMI) for the service sector showed a reading of 50.6 in October, lower than 52.1 recorded in the flash estimates. In September, the reading was 49.7. New business in the German service sector continued to decline in October, while backlogs of work fell at the fastest pace since the start of 2010. Backlogs of work decreased for the fourth straight month, reflecting continuing weakness in client demand. (Source: RTT News) Eurozone's private sector contracted more than initially estimated for October on sharp deceleration in output and new orders, final data from Markit Economics showed. The final composite Purchasing Managers' Index fell to a 28-month low of 46.5 in October, down from 49.1 in September, and below the earlier flash estimate of 47.2. (Source: RTT News)

KEY DEVELOPMENTS DOMESTIC India's annual food inflation rate for the week ended October 22 surged to 12.21 percent, the highest in nine months. Annual inflation rate of food article prices, as measured by the wholesale price index, or WPI, (with base year 2004-05) for the week ended October 22 shot up to 12.21 percent from 11.43 in the preceding week. Annual rate of inflation for primary articles for the week ended October 22 was 12.08 percent, up from last week's level of 11.75 percent. It was 17.09 percent for the corresponding week of the preceding year. The 52-week average inflation for the week was 13.96 percent, the data revealed. (Source: RTT News) India's manufacturing activity in October expanded--though modestly--indicating an improvement in business conditions from a month ago as growth in new orders accelerated, a

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

survey showed. The seasonally adjusted HSBC Purchasing Managers' Index, prepared by Markit, rose to 52.0 in October from 50.4 in September. (Source: WSJ) With rising input costs and high interest rates, growth in eight key infrastructure sectors slowed down to 2.3 per cent in September from 3.3 per cent a year ago. Coal, natural gas and fertiliser showed decline in output raising concerns for the industry and government. The numbers were discouraging even compared to August when these sectors grew by 3.7 per cent. (Source: Financial Express) Drug maker Lupin it has received final approval from the US health regulator to sell its generic version of 'LoSeasonique' tablets, an o ral contraceptive drug, in the American market with 180 days of marketing exclusivity. The approval has been granted to Lupin Pharmaceuticals Inc, the US arm of the company, Lupin said in a statement. The nod by the US Food and Drug Administration (USFDA) is for Levonorgestrel and Ethinyl Estradiol tablets in strengths of 0.1 mg and 0.02 mg and for Ethinyl Estradiol tablets of 0.01 mg, it added. (Source: Economic Times) The state-run PowerGrid Corporation is looking at entering into joint venture agreements with various state governments for laying out intra-state transmission networks, a senior official has said. "The power distribution and generation capacity has increased since the past few years. Therefore, we feel there is a need for intra-state grid connectivity. We are in talks with a few states to work out a joint venture model to enable them to lay transmission networks," a PGCIL official named said. (Source: Financial Express) The transportation and mining divisions of IVRCL Ltd, a Hyderabad-based engineering and construction company, has bagged orders aggregating Rs 972.07 crore. These include a Rs 917.80-crore order for construction of a tunnel on the Dharam-Quzigund section of Udhampur-Srinagar-Baramulla new BG railway line project awarded to IVRCL by New Delhibased Ircon International. The completion period of the contract is 36 months. (Source: Business Standard) The country's drug regulator has given conditional market approval for Ranbaxy Laboratories' anti-malaria drug, paving the way for the launch of the country's first privately-developed medicine and ending more than a decade of failures or near misses for India's drug makers While the domestic drug industry has been successful in making generic versions of drugs as well as new drug delivery systems, this is the first time that a new molecule discovered and patented by a home grown company will be sold commercially, plugging a big hole in the R&D credentials of the country. (Source: Economic Times) Reliance Industries ( RIL) plans to invest up to USD 2.338 billion to produce about 15 million standard cubic metres per day of gas from the R-Series gas field in its eastern offshore KG-D6 block. The Dhirubhai-34 discovery, known as the R-Series field, has gross in-place gas reserves of 1.64 trillion cubic feet, which, according to Reliance, can be brought into production in 4-5 years, sources privy to the development said. The proposal to declare the field commercially viable -- a prerequisite before investments can be made to bring it to production -- is likely to come up before the KG-D6 block oversight committee this week. (Source: Economic Times) Drug maker Sun Pharmaceutical today said it had received approval from the US health regulator to market generic Diltiazem HCl extended-release capsules used for treating hypertension and angina in the American market. The company's subsidiary has been granted approval by the United States Food and Drug Administration (USFDA) for the abbreviated new drug application (ANDA) to market generic Diltiazem HCl extended-release capsules, Sun Pharma said in a statement. (Source: Business Standard) Punjab National Bank has kicked off the biggest loans restructuring exercise by Indian lenders to a sector - power - by converting Rs 2,500 crore of short-term loans into long-term ones to avoid imminent defaults. The second-biggest staterun lender, which has given about Rs 15,000 crore, or 5%, of its total loans to the power sector, had some borrowers facing short-term repayment issues, the bank's top executive said. The bank would lend to projects to which it has already sanctioned loans, but will be wary of new ones, he said. (Source: Economic Times) Reliance Industries has seen natural gas output from its eastern offshore KG-D6 field drop to 42 million standard cubic meters per day. The Dhirubhai-1 and 3 gas fields and MA oil field in the KG-DWN-98/3 or KG-D6 block are currently producing about 42 million metric standard

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up

31st October 2011 to 04th November 2011

cubic meter per day (mmscmd) of gas, according to the status report filed by the company with the oil ministry here. The current output is a far cry from 61.5 mmscmd achieved in March last year and is almost at the 2009 production levels. (Source: Economic Times) Pratibha Industries has bagged three orders worth Rs 571 crore in building and water segments. Of this, Rs 362 crore order is from Runwal Homes Pvt Ltd for civil and structural work of residential building 'Runwal Greens' located at Mulund-Goregaon Link Road, in Mumbai, a company statement said. The other order in the building segment is from Lodha Group valued at Rs 179 crore for its project 'Casa Rio', which involves construction of 58 buildings for the integrated township to be set up at Dombivali in Maharashtra. (Source: Economic Times) Making a foray into the international operations & maintenance business, the country's largest power producer NTPC today said it has bagged a Rs 43 crore contract in Bangladesh for providing O&M services. NTPC Consultancy, a part of the state-run power major, has secured a six-year contract to provide O&M services at the Siddhirganj Peaking Power Plant in Bangladesh. In a statement, NTPC said the contract, which was won through international competitive bidding, would also mark the entity's foray into the international O&M services space. (Source: Business Standard) Diversified Aditya Birla Group is considering bidding for Australia's New Hope Corp, a $5 billion coal miner that put itself up for auction last month, sources with direct knowledge said. The group, a telecoms-to-cement conglomerate, requires thermal coal for group companies Hindalco Industries, India's top aluminium producer, and UltraTech Cement, the country's largest cement producer. (Source: Economic Times) Mining company Coal India Ltd (CIL) has got the Finance Ministry's nod for acquiring stake in overseas unlisted firms. "We have received Union Finance Ministry's clarifications sought for overseas acquisitions. The ministry permitted (us) to go ahead with acquisition of unlisted firms," CIL chairman N C Jha said on the sidelines of the company's Foundation Day celebrations attended by Coal minister Sriprakash Jaiswal. However, the Finance Ministry has not given complete relaxation to the norm of minimum 12% internal rate of return (IRR) from such acquisitions. (Source: Business Standard) Strides Arcolab said it has received approval from the US health regulator to market its generic Doxorubicin Hydrochloride injection, used for treating cancer, in the American market. Onco Therapies, a wholly-owned subsidiary of the company has received approval from the United States Food and Drug Administration (USFDA) for Doxorubicin Hydrochloride injection, Strides Arcolab said in a statement. (Business Line) Ahmedabad-based Arvind Ltd has sold off its 40 per cent stake in the joint venture that sells Lee and Wrangler apparel brands to partner VF Mauritius for Rs 257 crore. In a filing to the Bombay Stock Exchange (BSE), the company said the stake sale is as per the joint venture agreement under which VF Arvind Brands Pvt Ltd (VFABPL) was formed in September 2006. (Source: Financial Express) NCC Urban Infrastructure Limited, a subsidiary of Hyderabad-based construction major NCC Limited, is lining up over 10 residential and commercial projects, together with a built-up area of 2.5 million sft, in Bangalore, Chennai, Hyderabad and Kochi. While we recently launched six projects in Bangalore, both apartments and villas, which are expected to generate a turnover of Rs 250 crore per year, ventures in Hyderabad, Kochi and Chennai are to be launched in the next two to three months, said Narayana Raju Alluri, managing director of NCC Urban. (Source: Business Standard) Vedanta group firm Sesa Goa will acquire 100 per cent stake in Goa Energy from Videocon Industries and other shareholders for Rs 53.72 crore. In a regulatory filing, the private sector iron ore miner said it has signed a definitive share purchase agreement with the shareholders for the "all cash deal". The agreement includes taking over an existing debt of Rs 47.28 crore of Goa Energy, which owns and operates a 30 MW waste heat recovery power plant in Goa. (Source: Economic Times)

Disclaimers: The article (including market views expressed herein) is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. Investments in mutual funds and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient of this article/ information should understand that statements made herein regarding future prospects may not be realized. He/ She should also understand that any reference to the securities/ sectors in the document is only for illustration purpose and are NOT stock recommendations from the Author or the AMC or any of its associates. Any performance information shown refers to the past should not be seen as an indication of future returns. The value of investments and any income from them can go down as well as up