Market Buzz: 29/12/2011

Market Buzz

  • India and Japan have signed a $15bn (£9.7bn) currency swap agreement as the two nations seek to boost financial co-operation.
  • OilMin refers RIL marketing margin issue to EGoM: The Petroleum Ministry has asked a ministerial panel to decide if Reliance Industries can charge a marketing margin over-and-above the government approved sale price for KG-D6 gas. (BS)
  • Kerala-based banks have increased interest rates on non-resident (external) rupee (NRE) term deposits for the second time in a week.
  • DLF and its joint venture partner Hubtown Ltd formerly known as Ackruti City Ltd, have sold their stake in a Pune SEZ for 810 Crore to PE firm Blackstone Group.
  • TVS Motor would launch automatic transmission scooters and motorcycles from 2013 with 20% better fuel efficiency. (BS)
  • Reliance Power will get around $1.5 billion from Chinese lenders for its upcoming 3,960-MW Tilaiya ultra-mega power project in Jharkhand, a top company official has said. (BS)\
  • M&M will raise prices of its XUV500 sport-utility vehicle by 3%-4% because of higher raw-material costs and a weaker rupee.
  • Glenmark Pharmaceuticals said it has received approval from Drug Controller General of India (DCGI) to conduct phase III trials for Crofelemer, aimed at treatment of acute diarrhoea in adults.
  • Punj Lloyd has bagged Rs 1,050 crore order from GMR Projects for upgrading the four-lane Chittorgarh bypass. (BS)
  • Sales at U.S. retailers rose 4.5 % last week from a year earlier, as shoppers snapped up last-minute purchases for Christmas and took advantage of some chains extending hours.
  • Italy will sell as much as 8.5 billion euros (yesterday it sold 9 million euros) in bonds today, one day after borrowing costs plunged at an auction of shorter-maturity debt.

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