MORNING NOTES

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Corporate News


􀂄 Disclosing that it has increased salaries of its offsite and

and onsite employees, Infosys Technologies said it would

continue to invest in manpower in view of its expansion plans. - BS


􀂄 Tata Power's 4000 Mw coal-based ultra mega power plant

(UMPP) at Mundra in Gujarat is likely to be commissioned ahead of schedule. - BS


􀂄 Construction firm Gammon Infrastructure Projects stated

that it has fixed October 27 as the record date for the proposed stock-split. - BS


􀂄 Mangalore Refinery and Petrochemcial today received the

first parcel of crude oil from Cairn India's prolific Rajasthan fields. - BS


􀂄 Tata Power signed an MoU with Multi Commodity Exchange

(MCX) to enable farmers take benefits of futures trading.BS


􀂄 Sterlite Energy is believed to have bagged the country's first

ultra mega power transmission project, breaking the

decades old monopoly of state-run PowerGrid Corporation.


􀂄 Yes Bank, has signed a loan agreement with development

finance institution DEG, under which it will borrow a 5-year

loan of euros 20-million.- BS


􀂄 Developing-nation shares rose for a fifth day, capping their

biggest weekly gain in a month, as Chinese stocks surged

after an eight-day holiday and Samsung Electronics Co.

rallied on rising chip prices. - Bloomberg


Macro Economic News

􀂄 A sharp surge in the gold prices in the global markets has

helped enhance India's foreign exchange reserves by $430

million during the week ended October 2. ET


􀂄 The Planning Commission stated that the impact of the

global meltdown will be felt also in the next fiscal and it

would not be possible to achieve the average growth target
 
of 9 per cent in the Eleventh Plan. -BS
 
Global Cues
 
Developing-nation shares rose for a fifth day, capping their


biggest weekly gain in a month, as Chinese stocks surged

after an eight-day holiday and Samsung Electronics Co.

rallied on rising chip prices. - Bloomberg
 
~~R'MONEY