Market Buzz: 02-01-2012

Market Buzz

  • The government announced its decision to allow Qualified Foreign Investors to directly invest in Indian equity market.
  • Coal India shift to new pricing system may hit power sector hard.
  • State-owned oil companies cut jet fuel (ATF) price by over 1% in step with softening in the commodity’s international rates.
  • 􀀹 PTC India is in talks with a sovereign wealth fund for setting up a private equity fund, with an initial capital of about $100 million.
  • Coal India is likely to set up a subsidiary for buying coal assets in South Africa, as part of efforts to boost its output.
  • Tata Motors commercial and passenger vehicles sales jumped 22% Y/Y to 82,278 units in December 2011.
  • Toyota Kirloskar Motor sales surged by 82% year-on-year in the 2011 calendar year to 1,36,150 units.
  • 􀀹New Zealand-based renewable energy company LanzaTech is in talks with Indian Oil and Jindal Steel & Power for setting up a plant to produce commercial bio jet fuel from ethanol.
  • Elder Pharmaceuticals is eyeing 20% growth in revenues in the current fiscal on the back of new product launches.
  • FMCG sales likely to fall by 15% due to high prices in 2012 (A report by ASSOCHAM)
  • China’s manufacturing index rose in December to 50.3 %, a slight rebound after a greater-than-expected fall in November.

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