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ESSARPORTS - Essar Ports News Story

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Last Trade - 19/11/15

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
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Position in Universe th / 3002

Indian stocks to watch-Feb 21

Thu 21st February, 2013 2:52am
    * Nifty futures on the Singapore Exchange    down 0.56  
percent. The MSCI-Asia Pacific index, excluding Japan   
   fell 1.27 percent.              
    * Asian shares fell and the Australian dollar eased on 
Thursday as risk sentiment was shaken by talk in global markets 
overnight that a hedge fund had been liquidating large positions 
in commodities, as well as worries the Federal Reserve could 
slow its bond buying programme.       
    *  U.S. stocks fell the most in three months and a key gauge 
of market volatility spiked on Wednesday after minutes from the 
U.S. Federal Reserve's most recent meeting suggested the central 
bank may slow or stop buying bonds sooner than expected.       
    * The budget session of Indian parliament begins. 
For additional press items double click    
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
    * India's auction of quotas allowing foreign investors to 
buy bonds attracted solid demand, reflecting expectations that 
the central bank will cut interest rates and that the government 
will deliver a fiscally disciplined budget. (Reuters) 
    * U.S. private equity firm TPG Capital    is to sell 
part of its stake in Indian commercial vehicle financier Shriram 
Transport Finance Co Ltd    to raise about $300 million, 
according to a term sheet seen by Reuters. (Reuters) 
    * The Comptroller and Auditor General (CAG) has said in a 
draft report that there were serious irregularities, flouting of 
government norms and undue financial benefits to the private 
player in the Delhi airport Metro link. (Times of India) 
    * State-run Oil and Natural Gas Corp   , along with 
Bharat Petroleum Corp    and Mitsui Group of Japan, will 
invest about $1 billion (approximately 54 billion rupees) to set 
up a five-million tonne (mt) liquefied natural gas terminal 
(LNG) in Mangalore. (Business Standard) 
   * The newly constituted cabinet committee on investment (CCI) 
granted its first big-ticket approval, clearing the 120 billion 
rupees North Karanpura power project of NTPC    that had 
been stranded for more than a decade as power and coal 
ministries bickered over its location. (Economic Times) 
    * Oil and Natural Gas Corp's    over 80 billion 
rupees development of western offshore B-193 cluster fields will 
be completed this year that will add 28,000 barrels per day to 
peak oil production. (Press Trust of India in Economic Times) 
    * Jaiprakash Power Venture    raised 9.5 billion 
rupees in the largest primary issue in the power sector in 
nearly three years through a qualified institutional placement 
of shares. (Economic Times) 
    * The Ruia family, promoters of Essar Ports    and 
Essar Shipping   , is planning to start offloading their 
stake in the respective companies in order to comply with the 
requirement of Securities and Exchange Board of India (Sebi) 
requirement of maximum 75 percent holding in companies, senior 
company officials told Financial Chronicle. (Financial 
    * The war over air fares intensified with all Indian 
airlines competing with each other to offer low ticket prices, 
as Air India also jumped into the fray. (Press Trust of India in 
Economic Times) 
    * Wipro    is said to be contemplating laying off 
several hundred people in Wipro Infotech's business solutions 
division. This is because their work overlaps with those in a 
similar practice area in Wipro Technologies, three people 
familiar with the development said. (Times of India) 
    * India's two biggest mobile phone operators, Bharti Airtel 
Ltd    and Vodafone India   , challenged in court a 
government move to auction airwaves in a band they already use. 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
 (Compiled by Manoj Rawal; Edited by Subhadip Sircar) 
 (( 6180-7219)(Reuters 
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