Market Buzz: 31-01-2012

Market Buzz

  • Government approves Rs 7,900 cr. capital infusion in SBI and 1,285 cr. capital infusions in Punjab National Bank.
  • Coal India decided to rationalize prices in narrow bands for various grades of coal but decided to continue with the GCV (gross calorific value)-based pricing system.
  • Kotak Mahindra Bank eyes acquisition opportunities within India.
  • Bhushan Steel plans to raise up to Rs 700 cr. by April through a rights issue to part-finance its ongoing expansion projects.
  • IHCL to open 17 Vivanta Gateway hotels this year.
  • IVRCL bags Rs 1,300-cr project from NHAI.
  • Starbucks Corp will open its first outlets in India in August or September and plans to have 50 stores in operation by the end of the year in a joint venture deal with Tata Global Beverages.
  • United Phosphorus reported 35% increase in its consolidated net profit to Rs 112.42 cr. for the quarter ended December 31, 2011.
  • TajGVK Hotels and Resorts posted a 52% decline in net profit to Rs 6.09 cr. for the third quarter ended December 31, 2011.
  • Balrampur Chini Mills reported a net loss of Rs 64.01 cr. for the quarter ended December 31, 2011
  • Oriental Bank of Commerce reported a 13 % decline in net profit to Rs. 354.22 cr. for the third quarter ended December 31 because of a rise in bad assets.
  • The US Federal Reserve said business-loan demand climbed last quarter as the economy accelerated.

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