Posts Tagged ‘pharmaceutical’

Equity News Update

DOMESTIC NEWS

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Economy

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•The Food Price index increased 13.75 per cent in the week ended October16, sharply lower that the previous week’s annual rise of 15.53 per cent,mainly as vegetables continued to exert downward pressure on account ofa base effect.

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Power

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•Reliance Power Ltd has placed order for 30,000 MW capacity of Boiler,Turbine, Generator Packages (BTG) for its coal based power plants withShanghai Electric Group Co Ltd, the leading global supplier of powerequipments.

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Realty/ Construction

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•Nagarjuna Construction has bagged four projects worth 540 crore in thestates of Tamil Nadu and Uttar Pradesh.

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Capital Goods

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•BGR Energy Systems has bagged a 2,168-crore balance of plant (BoP)contract from Hyderabad-based Thermal Powertech Corporation of IndiaLtd. The project is funded by Rural Electrification Corporation (REC) as thelead lender with consortium of banks.

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Automobile

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•Maruti Suzuki India (MSI) is planning to ramp up its service centres by amassive 1,500 outlets by 2015 in line with its expansion of productioncapacity to over 17 lakh units annually. This enhancement is expected toresult in additional employment of about 22,000 people by the servicenetwork operators.Information Technology

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•Wipro Ltd, India’s No 3 software services provider, secured an IT servicescontract from Electricity North West Ltd, which operates the electricitydistribution network in north-west England.

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•Tata Consultancy Services announced an ASP (application service provider)initiative with Strate, the licensed Central Securities Depository (CSD) inSouth Africa. This joint venture with TCS, for the TCS BaNCS SecuritiesProcessing solution, will provide best-in-class and leading-edgetechnology to mid-tier players in the South African market.

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Pharmaceuticals

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•Strides Arcolab has received tentative approval from US Food and DrugAdministration (FDA) for one new drug application (ANDA) for fixed dosecombination of Lamivudine and Zidovudine tablets 150mg/300mg underthe expedited review provisions of the President’s Emergency Plan for AIDSRelief (PEPFAR).

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•Biocon will invest $161 million in a facility in Malaysia, joining a number ofIndian companies that have chosen to establish facilities in the South-EastAsian country.

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Oil & Gas

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•Petronet LNG plans to set up a 1,200-MW gas-based power plant linked toits Dahej terminal and will seek the approval of its board in a month. Theproject would be financed through internal accruals and debt. Thecompany has already acquired about 50 hectares of land for the project.

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INTERNATIONAL NEWS

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•US third quarter GDP expanded at a 2.0 percent annualized pace, followinga 1.7 percent rise the prior quarter. The latest figure matched analysts’projections for a 2.0 percent gain. Year-on-year, real GDP in the secondquarter is up 3.1 percent, compared 3.0 percent in the second quarter.

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•US new home sales rose 6.6 percent to an annual rate of 307,000 inSeptember from an annual rate of 288,000 in August. hile new home salesremain at relatively low levels, the annual rate has moved well off therecord low of 282,000 set in May. Nonetheless, the annual rate of newhome sales in September is still 21.5 percent below the rate seen in thesame month a year ago.

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•US New factory orders for durable goods in September rebounded 3.3percent, following a 1.0 percent decrease in August. The gain inSeptember came in significantly above the consensus forecast for a 1.6percent boost. Excluding transportation, new durables orders fell back 0.8percent, following a 1.9 percent increase in August.

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•US initial claims fell steeply to 434,000 in an October 23 week that isn’tskewed by special factors. The level is the lowest since July as is the fourweekaverage of 453,250. Given that July’s data were distorted byadjustment problems tied to auto retooling, the latest batch of data isperhaps the best so far of the recovery.

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Equity News Round Up 11th – 15th October

DOMESTIC NEWS

Economy

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•Food inflation eased marginally to 16.24% for the week ended September 25, from 16.44% in the previous week, as improved supplies lowered prices.

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Capital Goods

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•BHEL has bagged a `3,700-crore from Karnataka Power Corporation Ltd for setting up the 700 MW Bellary Thermal Power Station in Karnataka.

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•Lanco Infratech informed that its Vidarbha power project based in Maharashtra, has achieved financial closure. The company has raised debt to the tune of `5,549 crore to fund the project which has an estimated cost of around `6,936 crore. The rest of requirement is funded by equity of `1,387 crore.

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•Larsen & Toubro (L&T) has bagged `1,585 crore orders in July-September period from the construction segment. Of the `1,585 croreorders, `435 crore order is for construction of building projects fromleading developers while `781 crore orders is from “clients forconstruction of hotel, office building and add on orders from its ongoing airport and commercial building projects”.

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Automobile

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•Hero Honda has launched a limited edition of its 100cc motorcyclePassion Pro, priced at `46,300 (ex-showroom Delhi).

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Realty/ Construction

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•IVRCL Infrastructure and Projects said its various divisions have wonorders worth `1,120 crore from sectors including power and transportation. The company’s water division bagged the highest `451crore order, followed by `440 crore by building divisions,`136 crore by transportation division and `92 crore by power division.

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•Punj Lloyd Group has bagged a `539-crore contract from the state owned gas utility GAIL India for laying a natural gas pipeline from Dabholto Bangalore. The project will be executed over a period of 13 months.

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Pharmaceutical

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•Cadila has got approval from US health regulator to market high blood pressure treatment tablets, Losartan Potassium and Losartan Potassium and HCTZ in the American market. The US Food and Drug Administration approval has been granted to the firm’s subsidiary Zydus Cadila, for Losartan Potassium tablets in the strengths of 25 mg, 50 mg and 100 mg and for Losartan Potassium and Hydrochlorothiazide tablets in the strengths of 50/ 12.5 mg and 100/25 mg.

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Power

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•NTPC may invest over `10,000 crore to set up a 2,640 megawatt (Mw)thermal power project at Gidarbaha in Punjab. The Project shall be setup as regional power project by NTPC and would also be the company’s first in the state.

INTERNATIONAL NEWS

•US Pending Home Sales Index jumped more than four percent for asecond straight month, to 82.3 in August (2001 = 100). The prior month was revised to 78.9, shaving July’s gain to 4.5 percent. The readings point to a second straight jump for existing home sales which surged nearly eight percent in August.

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•US non-farm payroll employment fell by 95,000 jobs in September following a revised decrease of 57,000 jobs in August. Economists had expected employment to come in flat compared to the loss of 54,000 jobs originally reported for the previous month.

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•UK output price index rose 4.4% annually in September, compared with a4.7% gain in August. The increase was a touch higher than the expected 4.3% rise. Output prices gained 0.3% month-on-month after stagnating in August. Excluding food, beverages, tobacco and petroleum, output prices increased 4.6% annually.

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•The Japanese Cabinet approved a 5.05 trillion yen ($62 billion) new stimulus package to boost the economy amid widespread concerns that it could slip back into recession. The new package, which will befinanced by an extra budget, is aimed at addressing labor market issues,social welfare and healthcare services. The government is trying to finalize this additional budget by the end of this month.

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Equity Market News 7th – 11th June

Economy

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·Food inflation rose to 16.55% for the week ended May 22 on account of high prices of pulses, fruits and vegetables. Inflation increased by 0.32 percentage point from 16.23% in the previous week.

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Information Technology

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·Take Solutions entered into a strategic partnership with Reliance Life Sciences to supply its unique PharmaReady eCTD, SPL and PPM modules.

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Pharmaceutical

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·Aurobindo Pharma has received a final approval from the US health regulator for sale of Ceftazidime, used to treat respiratory infections, in the American market. The company has bagged the final approval from US Food and Drug Administration for two variants of the drug.

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·Ranbaxy Laboratories’ UK-based subsidiary is recalling a single lot of its drug Gabapentin, used in the treatment of nerve pain, from the UK market for updating mandatory safety information on them.

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·Lupin has received the US Food and Drug Administration’s approval for marketing and distributing Lamotrigine tablets, used for treating bipolar disorders, in American markets. The company has received approval for Lamotrigine tablets in 25 mg, 100 mg, 150 mg and 200 mg strengths.

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Paints

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·Asian Paints has signed a MoU with the Maharashtra government to set up a Rs 735 crore mega project for manufacturing paints and intermediates.

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Realty/ Construction

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·Ahluwalia Contracts India is looking for acquisition or tie-up with a specialised construction firm to help it become an integrated urban infrastructure company. The acquisition will enable the construction company to execute value-added construction projects, like developing multi-level parking and building concrete roads.

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·Jaiprakash Associates will invest around Rs 10,000 crore in the next three years to increase its annual production capacity to 50 million tonnes from a little over 20 million tonnes at present.

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·Lanco Infratech has received an order worth Rs 91.66 crore from the Airports Authority of India for construction of a terminal in Orissa. The scope of work includes construction of a new terminal building at Biju Patnaik Airport, Bhubaneswar.

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Power

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·NTPC Ltd, India’s top power producer, is set to buy controlling stake in a coal field in Australia in a deal valued at $1 billion to $1.5 billion.

·GVK Power & Infrastructure’s subsidiary has bagged a Rs 850 crore contract for building a highway in Rajasthan. GVK Developmental Projects Pvt Ltd, a wholly owned subsidiary of the company, has won the bid for four-laning a portion of the national highway.

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Capital Goods

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·State-run power equipments giant BHEL, engineering major Larsen & Toubro (L&T), and Russian firm Power Machines, among others have evinced interest in supplying to Jindal Power’s two thermal plants in Jharkhand. Jindal Power, a subsidiary of Jindal Steel and Power, is executing two supercritical power projects of 1,320mw at Dumka and 660mw at Godda in Jharkhand by 2014. Supercritical power projects are environment-friendly and energy-efficient.

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·Bharat Earth Movers (BEML) has signed a MoU with the Karnataka government at the Global Investors Meet here for establishing another manufacturing complex in the city.

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Textile

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·S Kumars Nationwide Limited (SKNL) has launched its new apparel brand ‘World Player’ in Kerala. World Player’s product range comprises of formal, casual and occasion wear designed to give the customer a more upmarket trendy look.

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Refineries

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·Indian Oil Corp bought 6 million barrels of West African and 1 million barrels of Libyan crude oil via tender for July and August including its first purchase of Nigerian grade Okono.

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Capital Goods

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·Bharat Forge had formed a JV with KPIT Cummins Infosystems to produce a hybrid engine technology, which will hit the market in six months.

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NEWS ROUND UP 22nd – 26th March

Hello Friends here we come up with the News Round Up from various categories.

Economy

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·The Reserve Bank of India (RBI) unexpectedly raised interest rates from record-low levels for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery. The central bank raised the repo rate, the rate at which it lends to banks to 5.00 percent from 4.75 percent and reverse repo rate, the rate which it absorbs funds from the system to 3.50 percent from 3.25 percent with immediate effect.

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·India’s Wholesale price inflation accelerated to 9.89 percent in February from a year ago, above the Reserve Bank of India’s end March projection of 8.5 percent and higher than the 8.56 percent level recorded in January this year.

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·India’s food price index rose 16.30 percent in the 12 months to March 6, while the fuel index was up 12.68 percent. The rise in the food price index was lower than an annual rise of 17.81 percent in the previous week.

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Pharmaceutical

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·Elder Pharmaceuticals had increased its stake in Bulgarian subsidiary Elder Biomeda AD to 61 per cent from the present 51 per cent, as part of its strategy to strengthen its presence in the European market. The Rs 600- crore turnover Elder Pharma did not disclose the deal size. In April 2008, Elder had formed Biomeda AD in Bulgaria, to acquire three Bulgarian healthcare companies belonging to the local Biomeda group.

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Metal

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·Welspun Gujarat Stahl Rohren unit will acquire a 75 per cent stake in MSK Projects, marking its foray into infrastructure. Welspun will invest a total of Rs 400 crore, of which Rs 200 crore will be infused directly into MSK.

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Realty/ Construction.

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·Punj Lloyd has bagged a project worth $40 million (nearly Rs 181 crore) from Abu Dhabi Gas Industries (GASCO) for infrastructure related works.

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The company has secured a letter of award for engineering, procurement and construction works in UAE from GASCO.

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·Subhash Projects & Marketing has bagged two orders worth Rs 475.34 crore for infrastructure related works. The company, along with Kirloskar Brothers Ltd, has bagged a contract worth Rs 439.35 crore from Bangalore Water supply Sewerage Board for civil and electromechanical works.

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·· Hindustan Construction Company (HCC) acquired a controlling stake in Swiss real estate firm Karl Steiner AG in an all-cash deal for around Rs 150 crore (Swiss Francs 35 million), a move that will pave way for the company to enter the European and Gulf markets.

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·PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been granted a new coal mining business permit for exploration of 30,970 hectares at Mauraduwa in south Sumatra, Indonesia.

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Oil & Gas

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·GAIL India plans to transit 21 per cent more natural gas through its pipelines at 114.8 million cubic meters per day in 2010-11 fiscal. The company in a press statement that it has set a target of transmitting 114.8 mmscmd of natural gas from domestic fields and imported LNG in 2010-11 fiscal as opposed to moving 94.8 mmscmd during current fiscal.

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Capital Goods

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·McNally Bharat Engineering Company has bagged an order worth Rs 173.2 crore for works at Mahanadi Coalfields in Sambalpur, Orissa. This is the third order that the company has bagged within a week, the first two being from NPCC and SAIL.

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·Larsen & Toubro (L&T) has bagged a project worth Rs 2,035 crore from ONGC Mangalore Petrochemicals Ltd to set up an aromatics complex at Mangalore special economic zone.

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Automobile.

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·Mahindra & Mahindra has joined the long list of corporate houses looking to obtain a banking licence after the finance minister’s budget speech revealed that banking regulator RBI was planning to allow more players in the sector. A top executive of the $6.3-billion group that it was planning to seek a banking licence for its non-banking finance company Mahindra & Mahindra Financial Services (MMFSL).

IPO News

ipo news

·Astec Lifesciences IPO subscribed fully

The Astec Lifesciences IPO closed for subscription on 4th November. It received a mild response on the last day and was subscribed 1.56 times. The non-institutional investors’ portion got subscribed 3 times; retail segment was subscribed 2.36 times and QIB 0.61 times. The issue was of 75,00,000 equity shares of Rs 10 each for cash at a price of Rs 77-82 per equity share, aggregating Rs 57.75-61.50 crore. The company is engaged in the manufacture and sale of intermediates, active ingredients and formulations in the off patent–proprietary category with a focus on agrochemical and pharmaceutical sector.

·Rural Electrification Corp to divest 20% via FPO

P Uma Shankar, CMD of REC (Rural Electrification Corporation) said the company would be filing a draft red herring prospectus (DRHP) with SEBI by mid-December 2009. The company will divest 20% via FPO (follow-on-public offering) including 15% fresh equity and 5% government stake dilution. The FPO of 17.17 crore shares will hit the market by February 2010 and the company will reserve 50% for QIBs, 15% for HNIs and 35% for retail investors.

·Intrasoft Technologies files IPO papers with SEBI

Intrasoft Technologies, owner of 123greetings.com has filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) for a public issue of 37,00,000 equity shares of Rs 10 each. The issue will constitute 25.12% of the post issue paid up capital of the company. The company intends to utilize the issue proceeds for branding & promotion; purchasing a corporate office at Kolkata and investment in technology infrastructure. Out of proceeds, it is planning to use over Rs 35 crore for above three purposes. For the period ended March 31, 2009, the company reported total income of Rs 10.52 crore and profit after tax of Rs 5.2 crore.

·GPL eyes IPO by end-Dec, to strongly focus on affordable housing

Godrej group company, Godrej Properties Limited (GPL), plans to hit the market with its IPO by end-December. A DRHP has been filed with SEBI for the purpose. The company proposes to issue fresh capital to the tune of around 13 per cent of its present capital. The proceeds of the issue will be used to fuel Godrej Properties’ expansion. The company’s thrust would be on affordable housing which will be its main growth-driver and in the future the revenue-mix of the company would be 80 per cent from residential housing (primarily affordable) and the balance from commercial realty.

·Coal India engages fund managers for IPO

State-owned Coal India Ltd has engaged large fund managers for its coming IPO which is likely to hit the market within a year. CIL, which had received Navratna status last year, was scheduled to get listed in the bourses within a three year period. Apart from this, it also planned to offer stock options to its over four lakh employees besides considering a proposal to issue shares to its former employees. Turning to coal imports, he said that coal import was increasing by 20 per cent annually. Import of coal was necessary since CIL could not meet the entire demand supply gap of coal.

·PSU divestment back on govt agenda

Home Minister P Chidambaram announced on 5th November that all profitable PSU’s are to give 10% equity to the public sector. The

government has made it mandatory for all listed profitable PSUs to disinvest 10 % to public sector. All unlisted PSUs which do not have any accumulated losses and positive networth and have made profits would be listed. Hitherto, the policy was to put the sale proceeds in a National Investment Fund (NIF) and use only its dividends for social security schemes. But given the tight fiscal situation, a special dispensation is being made for the three-year period 2009-12. The corpus comprising deposits from April 2009 till March 2012 will now be available in full for investment as capital expenditure in specific social sector schemes determined by Planning Commission and Department of Expenditure.