Corporate News Headline
•Dr. Reddy reported Q4'09 results, total income increased 12.36% yoy to Rs. 11.66 bn, but net profit declined 3.76% yoy to Rs. 1.56 bn. (BS)
•Apollo Tyres has concluded acquisition of Dutch company Vredestein Banden B.V. through a special purpose vehicle. (BS)
•Gujarat NRE Coke is planning to ramp up production in its two Australian coking coal mines from 0.8 MT in 2008-09 to 2 MT this fiscal. (ET)
Economic and Political Headline
•The Former Commerce Minister Kamal Nath has said that he was optimistic about the GDP growth rate of 8% for this fiscal year. (BS)
•The confidence among the US homebuilders in May increased to 16 from 14 the prior month, the highest level since September, providing further evidence that the housing slump that started in 2006, may be closer to a floor. (Bloomberg)
•Treasury Secretary Timothy Geithner ruled out setting specific limits for compensation as the Obama administration considers proposals to better align executives' pay with companies' long-term performance. (Bloomberg)
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Tuesday, May 19, 2009
19-May-09 News Headlines
Posted by MoneyBazaars at 8:59 AM 0 comments
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