Corporate News Headline
•ACC would invest around Rs. 29 bn in the next one year to increase its capacity to over 30 mtpa from the present 22.63 mtpa. (BS)
•Jindal Stainless is planning to raise up to Rs. 5 bn to part fund the second phase of its Rs. 57 bn Orissa project. (BS)
•IDEA Cellular is planning to invest Rs. 10 bn in Orissa in the next three years to expand its footprint. (ET)
Economic and Political Headline
•The total passenger car sales in the domestic market increased marginally in March to 1,29,358 from 1,28,098 units in the same month last year. (BS)
•The sales at the US wholesalers rose 0.6% in February for the first time in eight months, contributing to a record drop in inventories that indicates distributors are well on the way to eliminating the glut in stockpiles. (Bloomberg)
•The UK economy shrank 1.5% in the first quarter as the recession increasingly resembled the one that started in 1979 when Margaret Thatcher took power. (Bloomberg)
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