Epic Update : Oil India

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Epic Research
Oil India (OIL), along with Oil and Natural Gas Corporation’s overseas subsidiary – ONGC Videsh (OVL), has inked definitive agreements in Singapore with Videocon Mauritius Energy to acquire 100% of shares in Videocon Mozambique Rovuma 1, the company holding a 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique (Area 1), for $2.475 billion. The acquisition is expected to be implemented via a newly incorporated special purpose vehicle jointly owned by OIL and OVL.
 
Epic Update : Oil India

Oil India is planning to raise about $900 million in order to fund its latest stake buy out in Mozambique gas project. State run firm is likely to go for overseas market to raise 80%u0025 to 90% of its share of $1 billion in the acquisition. It also expects to have marginal impact of the currency variation on the deal size, which it has to pay from its reserves.
 
Epic Update : Gas price

Gas price hike big hit for power, fertiliser companies to take Rs 14000 crore hit, gas based power plants to become unviable.
 
Epic Update : United Spirits

Morgan Stanley Asia PTE buys 10.8 lakh shares (0.7%u0025) at Rs 2118/share
Morgan Stanley Asia already hold 4.02 percent stake in company as per March filing.
 
Epic Update : Natco Pharma

Natco Pharma gained 2.6 percent after the pharmaceutical company received approval from US FDA for generic Maxalt tablets.
 
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