MORNING NOTES

Corporate News


􀂄 Life Insurance Corporation of India (LIC) has hiked its stake
in Tata Tea to 13.93 per cent after buying shares worth Rs
109.75 crore through open market transactions.- BS

􀂄 Power Secretary H S Brahma stated that power generation
at state-run NTPC's two thermal power projects have been
stalled for over a month due to transportation bottlenecks.BS

􀂄 Areva T&D announced that it has signed an engineering,
procurement and construction (EPC) agreement with
Maharashtra State Electricity Transmission Co (MSETCL)
to set up sub-stations in Maharashtra state. - BS

􀂄 Reliance Industries stated that it is paying over $9 for buying
liquefied natural gas from spot market as the government
has not allowed use of fuel pumped by it for captive use. -BS

􀂄 HCL Technologies has entered into collaboration with
Mircrosoft to provide a highly cost-effective and user-friendly
retail banking solution to help banks in the Asia Pacific
region.BL

􀂄 Mahindra Satyam announced that it has secured contracts
worth Rs 38 crore (3 crore UAE dirhams) in the middle east
and north america region (MENA) in the second quarter of
FY 2009-10. - BS

􀂄 Asian stocks fell for the first time in three days, led by
technology and material shares, as China Mobile Ltd. and
China Telecom Corp.’s profit disappointed some investors
and oil prices dropped. - Bloomberg

Macro Economic News

􀂄 As part of its disinvestment programme, the government is
considering a two-phase follow-on public offer (FPO) of Steel
Authority of India Ltd (SAIL)
 
Global Cues
 
Asian stocks fell for the first time in three days, led by

technology and material shares, as China Mobile Ltd. and
China Telecom Corp.’s profit disappointed some investors
and oil prices dropped. - Bloomberg