MARKET UPDATES

• Varun has a major 81% share of the total LPG tonnage (on DWT basis) being transported under Indian flag. VSL with a LPG carrier fleet of 12 is the largest in India in terms of both fleet size and cargo carrying capacity of 351621 dwt and is the second largest global player in the mid-size fully refrigerated LPG carrier fleet with a 14.4% market share on cum basis. VSL has allocated USD 400 million capex for acquisitions of additional vessels and plans to acquire through re-sale to take advantage of strong freight rates. The company has more focus towards high technology offshore vessel to capture the boom in the sector.
• State Bank (Q, N,C,F)* of India and Australia`s Macquarie plan to jointly raise a USD 2 billion fund to invest in infrastructure projects in India.
• Gujarat Industries Power Company (GIPCL) plans to set up a 500 mw lignite-based power plant in Surat.
• Power ministry gives nod to transfer NTPC projects to BHEL.
• Inflation for week-ended April 5 has come out at 7.14% versus 7.41% the previous week, reports CNBC-TV18. CNBC-TV18 Poll had expected it at 7.3%.