Zero Fees From India Has Investment Bankers Relying on Private Share Sales India’s best quarter for stock sales
in at least six years was accompanied by a slump in fees as
investment banks competed to take state-owned companies public
in deals that netted them almost no revenue.
Billionaire Brothers Malvinder, Shivinder Singh to Quit Religare's Board Religare Enterprises Ltd. said
Chairman Malvinder Mohan Singh and director Shivinder Mohan
Singh, the billionaire brothers who control the Indian financial
services provider, are stepping down from its board.
Temasek in Talks to Invest in GMR Group, Indian Power Companies, Wong Says Temasek Holdings Pte Ltd., the
Singapore state investment company, is seeking stakes in Indian
power producers including GMR Group as they double capacity to
meet demand in the world’s second-fastest growing major economy.
Geithner, Visiting India, Sees `Huge Opportunities' to Expand Partnerships U.S. Treasury Secretary Timothy F.
Geithner said a new economic partnership with India offers
“huge opportunities” for both nations as the world recovers
from the worst recession since World War II.
Rupee Retreats From 19-Month High on Speculation Central Bank Curbing Gain India’s rupee retreated from a 19-
month high on speculation the central bank sold the currency to
combat appreciation that may hurt exports.
NTPC to Borrow $4.5 Billion to Quadruple Generation Capacity, Sharma Says NTPC Ltd., India’s biggest power
producer, plans to borrow about 200 billion rupees ($4.5 billion)
in the year that started April 1 as it quadruples generation
capacity to help reduce blackouts in the South Asian nation.
Most Indian Stocks Advance, Led by Bharat Heavy, Tata Steel; Wipro Falls Most Indian stocks rose amid signs
strengthening economic growth will drive earnings. Tata Steel
Ltd. climbed to a 21-month high after saying sales increased.
Bharat Heavy Electricals Ltd. reached the highest in two years.
Private Equity Firms Invest $2 Billion in India, Highest in Six Quarters Private equity investments in India
climbed to the highest level in six quarters as a rally in
equities helped stoke a revival in appetite for stakes in the
nation’s companies, a study showed.
Corporate Fraud Rises in India as Competition Increases, KPMG Study Finds Incidents of fraud in India have
risen in the last two years as competition intensified, three
fourths of respondents in a survey by accounting firm KPMG said.
Ten-Year Bonds Little Changed Before Government Debt Auction This Week India’s 10-year bonds were little
changed, with yields near the highest in more than a week,
before a debt auction later this week.
Euro, Greek Bonds Drop on Concern Rescue Faltering; U.S. Stocks Fluctuate The euro weakened and Greek bonds
plunged as the 10-year yield premium to German debt widened to
the most since the euro’s introduction a decade ago, reaching
about 4 percentage points, on concern the European Union’s
rescue plan for the nation may unravel. U.S. stocks fluctuated.
`Unloved' Junk Offers Best Bond Returns to Goldman Sachs: Credit Markets Speculative-grade bonds with the
highest rankings may offer the best returns after trailing the
riskiest debt in a record credit-market rally.
Rise in Treasury Yields Slowed as Currency Reserves Grow Fastest Since '08 The fastest growth in global
currency reserves since the credit crisis is blunting a rise in
Treasury yields even as concern increases about record U.S.
borrowing to finance an unprecedented budget deficit.
Toyota Lengthens Free Maintenance, Extends No-Interest Offer After Recalls Toyota Motor Corp. is extending no-
interest loans and discount leases for another month on some
U.S. models and expanding an offer of two years of free
maintenance to hold onto sales gains after record recalls.
State Street Beats BlackRock to Manage $2.1 Billion in Massachusetts Funds State Street Corp. won two mandates
to invest a total of $2.1 billion for Massachusetts’ public
pension fund, beating BlackRock Inc. in each case.
LBO Capital Raising Plummets 81% in Quarter From '08 Peak as Returns Slump Carlyle Group, the world’s second-
largest buyout firm, needs more time to raise $3 billion. So
does Chicago-based Madison Dearborn Partners LLC, even after
cutting its target by 25 percent to $7.5 billion.
Tanker Rates Sinking 35% in Estimates of Refinery Cutbacks From Idle Ships The most profitable supertanker
market in more than a year is heading for a 35 percent slump as
oil refineries from Japan to the U.K. shut for maintenance and
leave a surplus of vessels.
source: Bloomberg
