Corporate News Headline
•Power Grid Corporation of India has bagged Rs. 10.33 bn worth transmission project from Punjab State Electricity Board. (BS)
•BHEL has signed an MoU worth Rs. Rs 18.5 bn with SAIL for supply of steel materials like flats and long products. (BS)
•Anant Raj Industries is planning to raise Rs. 20 bn by issuing securities, including ADRs and FCCBs, to qualified institutional buyers on a private placement basis. (BS)
Economic and Political Headline
•Braving the global recessionary trends, India managed 6.7% economic growth in 2008-09. (BS)
•The UK house prices unexpectedly jumped 1.2% in May, matching the biggest gain since 2006, displaying signs of an easing property market slump. (Bloomberg)
•Japan's consumer prices fell 0.1% for the second month in April, adding to signs that the recession will herald a return to deflation. (Bloomberg)
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