Thursday, May 7, 2009

Corporate News

Tata Sons sells 1% in TCS to raise funds for the JLR deal. (ET)

ONGC has added a record 284mt of oil and gas reserves in FY09, the highest addition by the company in the past 18 years. (BS)

Workers at M&M's Nashik plant have gone on an indefinite 'tools down' strike, denting the company's revenue by Rs250mn a day. (BS)

ICICI Bank has scaled down its overseas operations, especially in the United States and Sri Lanka. (BS)

PNB decided not to lend below benchmark PLR. (ET)

ICAI raises apprehension about accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and Central Bank. (ET)

SBI to provide Rs5bn loan to Kingfisher Airlines. (ET)

ITC grabs 11% on the national biscuit market. (ET)

Supreme Court upheld the PPA by Tata Power with BEST, setting aside an earlier petition filed by Reliance Infra. (ET)

Wockhardt to sell its animal healthcare business for up to Rs1.5bn. (ET)

RIL has started selling diesel from its Jamnagar refinery to PSU companies. (FE)

SAIL, Essar Steel and JSW Steel ask government to immediately impose safeguard duty on cheap imports of HR coils. (ET)

BHEL achieved ~20% of its FY09 turnover by commercialization of products and systems developed by the in-house research and development efforts. (BL)

Nalco plans to use sophisticated technologies, which do not require explosives, for the extraction of bauxite from Panchpatmali mines. (BS)

SBI entered into an agreement with telecom firm Tata Communications Ltd and C-Edge for the roll-out and management of 500 ATMs. (BS)

Suven Lifescience has received US FDA approval for its second API plant. (FE)

NHPC is taking up projects worth Rs450bn in Myanmar, Bhutan. (BL)

McNally Bharat signed a MoU with KHD Humboldt Wedag International GMBH to buy German co's engineering and mineral technology business. (BL)

Gujarat Gas looks at LNG option to enhance sales. (BL)

Patni Computer is evaluating acquisition in the area of BPO and Infrastructure management services. (ET)

Essar Steel will invest Rs10bn on steel processing unit in India, Middle East and North America. (ET)

Bombay High Court has reserved its order in the dispute between Jet Airways and Sahara Airlines over income tax liability. (ET)

Loop Telecom says it has not violated telecom norms and Essar Group holding in it is full compliant with licensing conditions. (ET)

Tata Housing to offer value homes under the 'Shubh Griha project. (ET)

No comments:


The information in this publication is provided by is intended for use for Readers & Traders . Every effort is made to provide accurate information, but cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.

free counter