~
Corporate News
Bank of India has signed a memorandum of understanding
with TVS Motor Company to provide finance for customers
who intend to buy the latter's TVS Flame SR 125 motorcycle.BS
The government has threatened to cancel a coal block
allocated jointly to Jindal Steel and Power (JSPL) and Gagan
Sponge Iron for captive use, citing unsatisfactory progress
in development of the mine. - BS
Welspun-Gujarat Stahl Rohren, announced that its
outstanding order book has reached Rs 10,000-crore mark.- BS
Private sector lender HDFC Bank is looking at increasing
its reach in the microfinance segment through tying-up with
the postal service department and is in talks with it for the same. - BS
Reliance Industries (RIL) has surrendered 14 blocks back
to the government after incurring an expenditure of Rs 1,400
crore in unsuccessful exploration. - BS
Most Asian stocks dropped as a decline among financial
companies offset gains among technology shares after Intel
Corp.’s sales forecast topped estimates. - Bloomberg
Macro Economic News
Industry growth surged to a 22-month high at 10.4 per cent
in August fired by consumer demand. India's industrial
output for August rose 10.4% as against 1.7% year-on-year
Global Cues
Most Asian stocks dropped as a decline among financial
companies offset gains among technology shares after Intel
Corp.’s sales forecast topped estimates. - Bloomberg
~~R'MONEY
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