Power NEWS (30 Aug - 04 Sept, 2010)

- Sumit Kalra

April-June quarter GDP growth at 8.8% vs 8.6% QoQ

1. The strong growth may allow the Reserve Bank of India (RBI) to focus more on containing near double-digit inflation.

2. The RBI has raised interest rates four times since mid-March to stamp down inflationary pressures.

(http://www.moneycontrol.com/news/economy/april-june-quarter-gdp-growth-at-88-vs-86-qoq_481886.html)

Reliance Industries hikes stake in EIH to 14.80%

1. RIL subsidiary Reliance Industries Investment and Holding Pvt Ltd on Tuesday bought 26,86,885 additional shares in off- market trade.

2. RIL had acquired a 14.12 per cent stake in EIH for Rs 1,021 crore at a premium of 22 per cent per share.

(http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Reliance-Industries-hikes-stake-in-EIH-to-1480/articleshow/6475867.cms)

39 Indian cos in Forbes 'Best Under A Billion' Asia list

1. Among the 200 companies listed by the magazine, 39 are from India while 71 firms are based in China.

2. To name a few, Jindal Drilling & Industries, Emami, Exide Industries, Jubilant Organosys, KNR Constructions, have made it to Asia's 'Best Under A Billion' 2010 list of companies.

(http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/39-Indian-cos-in-Forbes-Best-Under-A-Billion-Asia-list/articleshow/6480654.cms)

Tirupati Balaji's jewels to get 52K-crore cover

1. Temple owns about 20 tonnes of gold and diamond jewellery and some of them date back to the 12th century.

2. Preliminary data shows that the valuation of the assets to be insured could be over $10 billion.

3. Till now, ONGC has the largest insurance cover of $26 billion.

(http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Tirupati-Balajis-jewels-to-get-52K-crore-cover/articleshow/6483019.cms)

PTC India Financial Services plans IPO

1. PTC India Financial Services is a 100 per cent subsidiary of PTC India Ltd.

2. It would enter the capital market to raise Rs 700-800 crore.

3. The money could be either raised by IPO or through a mixture of IPO and PE funding.

(http://economictimes.indiatimes.com/markets/ipos/PTC-India-Financial-Services-plans-IPO/articleshow/6492711.cms)

FY11 tax collection may top budget estimate

1. Tax collections could beat budget estimates of Rs 7,46,000 crore ($160 billion) in the fiscal year to end-March 2011

2. Together with non-tax receipts it could lower the fiscal deficit to below the targeted 5.5 per cent of GDP.

(http://economictimes.indiatimes.com/news/economy/finance/FY11-tax-collection-may-top-budget-estimate/articleshow/6487118.cms)

Market WatchTop Gainers (Previous Week)Company Group Previous Close (Rs) Current Price (Rs) % Change

BEML Ltd. A 1,006.90 1,134.30 + 12.65

Hind. Copper A 407.85 456.05 + 11.82

Top Losers (Previous Week)

Apollo Hospitals A 804.25 414.15 -48.50

Jet Airways A 778.55 698.95 -10.22

BSE   LIVE 18,221.43  -16.88 (-0.09%)

NSE LIVE 5,479.40 -6.75 (-0.12%)(http://money.rediff.com/)