FY15 GDP growth seen at 5.5%:
India's economy is expected to grow at around 5.5% in the fiscal year to March 2015, the finance ministry said in a report tabled in parliament on Friday. If the forecast materialises, it would mark an improvement from two successive years of below 5% growth. In the first six months of the fiscal year, Asia's third-largest economy grew an annual 5.5%.
Tree House surges as RBI allows investment upto 49% by RFPIs
Tree House Education & Accessories' gained over 6%, touching to Rs464.8, after the RBI advised that Registered Foreign Portfolios Investors can now invest up to 49% of the paid up capital of the company under the Portfolio Investment Scheme. The Reserve Bank of India after market hours yesterday, advised that Registered Foreign Portfolios Investors can now invest up to 49% of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme,
Reliance Industries surges 3%
Shares of Reliance Industries Ltd ( RIL) rose over 3%, touching to Rs908.6, after Company's telecom unit Reliance Jio may start 4G services in next 3-6 months, as per reports. Reliance Industries expects to start offering 4G telecom services next year. Reliance Jio's launch will happen in first half of 2015 because of rollout obligations of five years, reports. Company made a return to telecoms in 2010 by acquiring the only company that had won nationwide 4G airwaves.
Delta Corp rises on stake sale plan in Advani Hotels
Delta Corp jumped nearly 8% touching to Rs92.25, after the company said it has engaged Yes Bank, a merchant banker, to explore possibilities for sale of the company’s interest in Advani Hotels and Resorts India. Delta Corp held 35.60% stake in Advani Hotels and Resorts India as of September 30, 2014.
Dr. Reddy’s closes the acquisition of Habitrol Brand from Novartis
Dr Reddy's Laboratories today announced that it has closed the acquisition of Habitrol brand, an over-the-counter nicotine replacement therapy transdermal patch, from Novartis Consumer Health Inc.This follows issuance of the proposed consent order from the US Federal Trade Commission last month.The company had earlier entered into an asset purchase agreement with Novartis to acquire the tittle and rights of Habitrol brand and to market the product in the US market, the company said in a statement.
Jagran Prakashan gets ratings reaffirmation for loan facilities
Jagran Prakashan announced that CRISIL has reaffirmed the credit ratings post acquisition of Music Broadcast which operates FM radio stations under the brand name 'Radio City' as follows - Long Term Ratings - CRISIL AA/ Stable ,Short Term Ratings - CRISIL A1 ,For aggregate loan facilities of Rs375 crore.
India faces a "major challenge" in achieving its 2014-15 fiscal deficit
India faces a 'major challenge' in achieving its 2014/15 fiscal deficit aim of 4.1 percent of gross domestic product, its lowest in seven years, the finance ministry said in a report on Friday. The report, which was tabled in parliament, also said that a pickup in economic activity was needed to prevent any fiscal slippage in the year to March 2015.The deficit reached nearly 90 percent of the full-year target between April and October, the first seven months of the current fiscal year.
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