Editor's Desk

RNRL smartly corners away govt from gas dispute with RIL

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In a bid to corner the government from its dispute with Reliance Industries (RIL), Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) has told the Supreme Court (SC) that the government has no role to play either in the utilisation or the fixation of gas price in its contract with RIL.

The RNRL counsel said RIL had complete marketing freedom for sale of gas within India on such terms and at such price that RIL deems fit and proper. RNRL has blamed RIL of changing its stance with regard to the 2004 family agreement.

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Forthcoming IPOs may fetch lower valuations

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The threshold companies going for public subscription may face a subdued response on lower valuations after the lukewarm reaction to two recently-listed high-profile scrips, Adani Power and NHPC, as analysts believe more corrections are expected in the overheated primary market. Adani Power and NHPC have witnessed their prices falling below offer prices. Although these issues … Read more Forthcoming IPOs may fetch lower valuations

Cipla – Meda IPR Deal

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Meda (US$2.7 bn market cap), a Sweden-based specialty company, announced extension of its partnership with Cipla for proprietary combination nasal spray product (fluticasone and azelastine), which is in Phase III clinical trials in the US. Cipla/Meda together are developing novel nasal spray using combination of azelastine (anti-histamine) and fluticasone (corticosteroid). Per Meda, NDA submission is … Read more Cipla – Meda IPR Deal

Forecast for Indian Rupee vs USD + Euro

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Rupee reached our exact target of 49.20 levels and corrected lower. We see some very short term correction till 48.50-60 levels which would again pull rupee bears in the market.We would favour going longs around these levels (importers cover). We maintain bearishness in rupee in medium term. Only and Only if we get support from dollar strength and bearish momentum in stocks , commodities and dollar index we could see rupee at 50 levels soon otherwise rangebound between 48.60 and 49.20. Bearish (USD/INR : 48.65)

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MTS Mobile connects Jharkhand with Wireless Service

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Since its launch in Bihar in July this year, and having expanded to cover 28 of the 37 districts there, MTS has now launched in Jharkhand with up to 60% of the planned coverage in the state including 7 districts of Ranchi, Bokaro, Dhanbad, Lohardaga, West Singhbhum, East Singhbhum and Giridih, in Phase I. MTS will be available in Devghar & Sahibganj by mid-September, while all remaining districts will be covered by end of October. MTS Jharkhand subscribers will enjoy roaming facility in neighboring states of Bihar and West Bengal and all over India. MTS is currently available at 6500 retail outlets in Jharkhand, and will be available at 10, 000 retail outlets by end of this year.

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