GLOBAL MARKET NEWS

Global News

Japan’s export growth slowed for a fifth month in July, adding
to risks in an economy already under threat by the yen’s surge to a 15-
year high against the dollar.

Ireland’s long-term sovereign credit rating was cut one step
to AA- by Standard & Poor’s on concern about the rising cost of
supporting the country’s struggling banks.

Asian stocks declined for a second day as a record plunge in
U.S. home sales and slowing export growth in Japan added to evidence a
global economic recovery is weakening.

Corporate India News

GTL Infrastructure Ltd. and Reliance Communications Ltd.’s
tower unit will convert around 60 billion rupees ($1.3 billion) of
loans from promoters into equity and issue fresh shares worth $1
billion to investors to create a combined tower entity.

Ansal Properties & Infrastructure Ltd. may raise as much as 4
billion rupees ($85 million) through a placement of shares with
institutional investors.

Muthoot Finance Ltd. raised 430 million rupees from Kotak
India Private Equity Fund.

Prakash Steelage Ltd. will make its listing debut on the
bourses. The company raised 687.5 million rupees selling 6.25 million
shares for 100 rupees to 110 rupees each in its initial public
offering.

RPower may invest $5bn in Indonesia
Impact: Positive

Religare Enterprises promoters Malvinder Mohan Singh and
Shivinder Mohan Singh would infuse Rs 857 crore to hike their stake
by 8 per cent which would trigger an open offer.
Impact: Positive

Cairn Energy finds gas in Greenland
Impact: Positive

INDIA'S MINISTRY REJECTS VEDANTA'S PROPOSAL FOR ORISSA MINING
Impact: Negative

Piramal Healthcare may a special dividend of Rs. 75/share.
Impact: Positive