Equity Snapshot 5th April , 07

ECONOMY

> The government will announce the much-awaited 3G-spectrum policy by the end of the month - a move that will pave the way for mobile operators to offer voice, video and data services to subscribers.
> The Indian government has an open mind on reviewing a levy imposed on cement in the budget but no decision has been taken, a finance ministry official said.
> Low and stable inflation is necessary to support India's economy, which is headed for a growth path of 8.0-8.5% in the coming years, a senior central bank official said.
> Mutual Fund (MF) industry grew nearly 41% in FY07 to Rs 3,263.285-bln as against Rs 2,310.454-bln in FY06.
> Pakistan offered to export cement to India, a move that may help lower the commodity's market price by at least Rs 20 per bag of 50 kg and bring relief to the government.
> India and Pakistan renewed their commitment to a controversial pipeline that will supply Iranian gas to their two countries and said they would pursue the project sincerely and seriously.

CORPORATE

> Fortis Healthcare has set a price band of Rs 92-110 per share for its proposed initial public offering (IPO).
> Godrej Properties is planning to enter the capital market this fiscal.
> Hindustan Copper (HCL), raised provisional prices of its products across the board by 12.57% for April.
> ICSA India bagged an order for a total contract value of Rs 231.7-mln.
> JSW Steel reported a 20% growth in crude steel production at 7,14,000 tonne during the final quarter for FY2007.
> Jupiter Bioscience plans to invest $5-mln to set up a unit in the United States.
> Reliance Inds and GAIL decided to lay the national gas grid jointly at an estimated investment of Rs 530-bln.
> The BoD of SAIL has given inprinciple approval for a Rs 112.6-bln ($2.6-bln) expansion plan.
> The Sherwin-Williams Co., based in Cleveland, Ohio, announced the acquisition of Mumbai-based Nitco Paints for an undisclosed amount.
> Whirlpool India earmarked an investment of Rs 1.56-bln for production and marketing purposes.