Morning Notes - April 11th, 07

Corporate Snippets
>Suzlon Energy has raised its takeover offer for REpower Systems AG to 150 euros a share after its subsidiary bought 7.7% in the German firm at that price. –ET
> With an aim to enhance its focus on tier-II cities, Arvind Mills plans to open nearly 100 Megamart stores in the country in the next five years. Megamart, an apparel discount chain, currently has 54 outlets in 16 cities, with footfalls in excess of 1.5 lakh consumers per month. –ET
> ABG Shipyard has bagged Rs 618 crore order from Cyprusbased Essar Shipping & Logistics Ltd, for construction of four supramax bulk carriers. –ET
> Educomp Solutions has acquired 76% stake in ThreeBrix EServices Pvt Ltd. Partnership with ThreeBricks would leverage Educomp’s large content library for providing tutoring in several ways - online, offline and through learning centers mainly focused on serving Indian students. –ET
> Uttam Galva Steels has decided to raise prices of all its products as a result of rising demand from construction companies and makers of automobiles and home appliances. –BS
> The board of directors of Strides Arcolab has given its in-principle approval to acquire the entire shareholding of Grandix Pharmaceuticals, Chennai. –BS
> Subhash Projects & Marketing Ltd has secured orders worth Rs 309 crore for execution of various power projects in Karnataka state. –BL
> Jet Sahara in a fresh deal.New agreement sets Air Sahara’s enterprise value Rs 250 Crs lower at Rs 2050 Crs. - ET.
> NTPC Ltd is open to sourcing equipment from Chinese vendors in an effort to keep project costs down for its new power stations. The Rs 30,000-crore utility is also looking at the possibility of tying-up with Chinese suppliers for the 4,000-MW Ultra Mega projects in the pipeline. - BL

Macro Economic & Geo-Political News
> Industrial output in February is expected to have risen 10.9% from a year earlier, the median forecast in a Reuters poll shows. That would be the same as in January, but down from 12.5% in December. –ET
> The Bank of Japan have voted unanimously to keep interest rates unchanged. –BS


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