99 Exclusive News - 27/07/07

Image Copyright: Mr. R. K.

TODAY's 99Ex:

• Indian Capital Markets Turnover hits record High – total market turnover at Rs 1.01 lakh crore (NSE+BSE) – A historic landmark achieved.
• Market Rumors – Is it true that Tata may have bagged Land Rover, Jaguar Deal ? Or are close ?
  Amidst this Ford surprises analysts with a 2nd Quarter Profit!
• Mobile phone subscribers of BSNL will view TV on Cell Screens. BSNL & Essel Group arm launch the service in North India as free for 30 days & thereafter costing Rs. 150/month. All streaming content from ZEE channels available on portal will be having unlimited access for subscribers.
• Moody's Upgrades Debt Ratings for China, Hong Kong, Macau
• At 12.00 midnight IST Dow Jones plunges 371 points while Nasdaq down 67 points – due to Housing & Credit Market concerns; NYSE had put trading curbs to control the falling markets!
• Govt gives “Navratna” status to BEL, HAL & PFC – that means more investment power & more autonomy to them
• Tata Tea displaces HLL from No. 1 position in Branded Tea
• Govt likely to lift restrictions on sugar Exports - courtesy NW18
• Subex Azure approves demerger of services biz to Subsidiary
• Maruti Udyog to be renamed Maruti Suzuki India
• Bharti Results are out they EBIDTA Margin @ 41.4%, they targeting 65000 towers by FY08, have demerged tower business in to a subsidiary & they will focus on 2G technology led growth only.
• Ranbaxy settles patent dispute with GSK on Valacyclovir – to get 180 days exclusivity in late 2009 in US; the drug then will have a US $ 1.5 Bn Market then.
• Government’s – CCEA gives nod to public sector companies to invest up to 30% surplus cash in Mutual Funds, lifts 9 year ban; approximately Rs. 50000 crores may pour in the Markets soon!
• Oil prices are ranging around 11 month highs due to supply fears, will GOI raise fuel prices??
• India’s premier fund house - ICICI Prudential AMC appoints Nimesh Shah as MD and CEO, he was Chief Investment Officer earlier
• IMF revises up growth projections for the global economy
• Reliance Communication is deliberating on Providing Dual Band handsets (another first that could only come from Reliance) If government policy on use of Dual Bands doesn’t change this will give reliance a unique competitive advantage to offer CDMA as well as GSM connectivity from 1 phone!
• The Directorate General of Civil Aviation (DGCA) will award licenses for airport operations on the basis of the grades awarded by the Airports Council International (ACI), the largest airport body in the world.

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