Equity Snapshot

ECONOMY NEWS


> India's trade deficit in Feb was $4.66-bln, higher than $2.49-bln a year earlier.
> Crude oil imports registered a negative growth of 1.18% and stood at $4.06-bln in Feb 2007 as compared to $4.10-bln in Feb 2006
> Exports increased 23.83% year-onyear in Feb to $9.70-bln while imports were up 30.10% to $14.36-bln. In the first 11 months of the current fiscal, exports grew 22.95% to cross the $100-bln-mark at $109.1-bln, and imports grew 30.59% to $164.98-bln.
> Steelmaking is in for a major boost as the government plans to make ‘valueaddition’
mandatory for getting iron ore mines.
> Faced with the spectre of input costs of raw materials like iron ore shooting
up by Rs 2,500 per tonne, major Indian steel makers are finalizing plans to hike steel prices within next.
> SEBI told several hedge funds wanting to invest in India, that they should agree to a lock-in period of two years as a cushion against sudden withdrawal under adverse
circumstances.


CORPORATE NEWS


> Bharti Airtel has lowered international tariffs by up to 11% for its mobile customers from April 1.
> GM India has sold 4,542 cars in March 2007 an increase of 12% when compared with 4,070 units sold in March 2006.
> Lanco Infratech won the bid for three construction projects worth Rs 1.02-
bln in Karnataka and Tamil Nadu.
> Maruti Udyog posted a strong domestic sales growth of 20.6% in 2006-07 at 6,35,629 units as against 5,27,038 units sold in FY06.
> Property developer Phoenix Mills Ltd. said its board approved the merger of Ashok Ruia Enterprises Pvt Ltd. with itself.
> Ranbaxy Lab. said it would conduct tests for a new compound to treat respiratory inflammation.
> Tata Motors reported a 28% increase in unit sales at 5,79,378 (incl. exports)
vehicles for the fiscal year 2006-07.
> Tata Steel has agreed to sell its cold rolling mill at Sisodra for Rs 670-mln to Theis Precision Steel India.
> TVS Motor Co. has closed FY07 with a 15% growth in motorcycle sales at 9,24,813 units (8,06,708 units in FY06).