22-May-09 News Headlines

Corporate News Headline
•Bajaj Auto reported Q4'09 result, total income dipped 2.51% yoy to Rs. 88.14 bn, and net profit declined of 28.52% yoy to Rs. 5.35 bn. (BS)
•Reliance Power is planning to invest over Rs. 120 bn for executing 2,520-MW hydro power projects in Arunachal Pradesh, to be commissioned in the next Five Year Plan. (BS)
•Areva T&D India has secured Rs. 1.1 bn contract to set up a 400 kilo-volt sub-station in Kharagpur from the West Bengal State Electricity Transmission Company Limited. (BS)


Economic and Political Headline

•Driven by the rising prices of essential food items like cereals, tea, spices and fruit and vegetables, inflation inched up to 0.61% for the week ended May 9. (BS)
•The US Conference Board's leading economic gauge increased 1% in April, more than forecast and a manufacturing gauge improved in signs the deepest recession in five decades could end later this year. (Bloomberg)
•Treasury Secretary Timothy Geithner said the Obama administration is committed to reducing the federal budget deficit to 3% of the GDP after concerns rose that the US debt rating may eventually be threatened with a downgrade. (Bloomberg)
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