Market Buzz: 30/12/2011

Market Buzz

  • Food inflation fell to its lowest level in almost six years at 0.42% for the week ended December 17.
  • 􀀹 Power Finance Corp, National Thermal Power Corp and Rural Electrification Corp are likely to launch medium- to long-term infrastructure bonds in the first week of January to raise 3000-5000 crore each. (ET)
  • 􀀹 Chennai Port Trust has rejected a bid by Mundra Port and Special Economic Zone for its Rs 3,700-crore mega container terminal project in this metropolis.(BS)
  • 􀀹 NTPC Ltd will invest Rs 18,346 crore to develop two projects in Karnataka and Madhya Pradesh.
  • 􀀹 Godrej Properties said the company has raised Rs 45 crore by selling 49% stake in its arm to private equity firm Sun Apollo.
  • 􀀹 ONGC is planning to set up hydrocarbon-based urea fertilizer plant in Tripura after completion of Rs 3,950 crore power project at Palatana in South Tripura district.
  • 􀀹 Dr Reddy’s Laboratories said it has launched ‘Supamove’ cream used for treating pain and inflammation in India.
  •  The US health regulator has granted approval to Lupin to market generic Fenofibrate tablets, a cholesterol lowering drug, in the American market.
  • Spain’s economy shrank in the final quarter of 2011, battered by financial market tensions and a deteriorating global economic outlook, the Bank of Spain said.

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