| National Thermal Power Corp.: FY2007 provisional results: operational performance inline/ maintain IL |
| Operational performance during FY2007 in line with expectations. |
| Mining plan for Pakri Barwadih approved. |
| Retain IL rating with target price of Rs160/share. | |
| Updates |
| Oil & Natural Gas Corporation: Further good news; don't ignore it this time too |
| New 'significant' oil and gas discovery in Egypt (North Ramadan block) |
| DGH accepts ONGC's discovery in KG-DWN-98/3 block |
| Sentiment should improve on positive developments | |
| Reliance Communications: 5 mn wireless subs deactivated but no impact on revenues, profitability as per company |
| Completes re-verification of 85% of wireless base at end-FY2007; deactivates the rest |
| Says no impact on revenues and ARPU, which we find astonishing |
| Begets issue about defunct subs remaining in system and execution | |
| GAIL (India): New developments; value creation will depend on acquisition price or regulations |
| Decision on Dabhol-LNG terminal due this week; GAIL to be one of the bidders |
| GAIL, Reliance group carve up gas network in India; value creation will depend on regulations |
| We will factor in new capex once more clarity emerges on timing, regulations | |
| UTI Bank: Increasing risk due to changes in management, downgrading stock to Underperform |
| Dr.P.J Nayak has conveyed his decision to step down as CMD of UTI Bank post July 31,2007 |
| Increases uncertainties relating to UTI Bank's strategies and prospects |
| Downgrading price target to Rs350 (earlier Rs435) and rating on the stock to In-Line | |
| Zee Entertainment Enterprises: None of the recent events can really explain recent re-rating of already very high multiples |
| CAS to be extended to other parts of the three identified metros by mandate; this is as per expectations |
| Too early to give meaningful value for possible broadcast rights of ICL; market has already given Rs10 bn value |
| ZEEL's TV ratings steady but watch for entry of several new channels | |
| Lupin: Strikes a good deal with Servier; the innovator of Perindopril |
| Receives Euro20 mn from Servier of France, for sale of intellectual property relating to Perindopril |
| Lupin has said that it will launch the product in international markets, post regulatory approvals |
| Maintain OP. | |
| Mahindra Gesco Developers: eGoM go ahead likely to provide more clarity on SEZ policy |
| eGoM gives go ahead to SEZ policy; imposes a few restrictions |
| We raise discount factor on Karla SEZ from 50% to 90% pending clarity on land acquisition. |
| Retain outperform rating with a revised target price of Rs945 | |
| Economy: Indian interest rate outlook: Rising political mercury escalates pop monetarism, policy risks |
| Politics escalates policy risks - CRR, strong INR - till inflation peaks off (1QFY08E) |
| Real lending rates already almost neutral, further action to impact growth |
| Congress party panel blames excessive money supply for inflation, poll defeats |
| Exit polls predict hung UP assembly in May 2007; BJP wins municipal Delhi polls
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