MORNING NOTES

~
Corporate News


􀂄 Coal India is moblising a Rs 1,600 crore funding for two of
its ailing firms - BCCL and EC - to take them out of the Board
for Industrial & Financial Reconstruction's purview in the
next two years. - BS

􀂄 JK Cement Ltd has informed that the commercial production
of its unit J.K. Cement Works, having 3 million tonnes per
annum capacity grey cement plant and located at Bagalkot
district in Karnataka, has commenced with effect from
October 24. - BL

􀂄 Hyundai Motor India has taken Mahindra Renault to the Delhi
High Court objecting to the latter's plan to launch a compact
car in the country with the name 'Sandero'. - BL

􀂄 GMR Energy, a subsidiary of the GMR group, has challenged
in the Delhi High Court its disqualification from bidding for
three power transmission projects worth Rs 6,800 crore
and sought a stay on the tendering process. - BS

􀂄 Caught in the bitter Ambani gas dispute and facing CBI probe
over allegations of favouring Mukesh Ambani-led RIL, oil
regulator V K Sibal may not continue as Director General of
Hydrocarbon from next week. - BS

􀂄 Asian stocks fell, dragging the MSCI Asia Pacific Index to a
three-week low, as losses at National Australia Bank Ltd.
and Canon Inc.’s lower profit raised concern about the
strength of the global recovery. The yen advanced. -
Bloomberg

Macro Economic News

􀂄 RBI revised the inflation target to 6.5 from 5%. It also hiked
the SLR from 24 to 25%. RBI left the repo rate at 4.75 percent
and the reverse repo rate at 3.25 percent. CRR was held
steady at 5.0 percent. - ET
 
GLOBAL CUEs
 
Asian stocks fell, dragging the MSCI Asia Pacific Index to a

three-week low, as losses at National Australia Bank Ltd.
and Canon Inc.’s lower profit raised concern about the
strength of the global recovery. The yen advanced. -Bloomberg
~R`MONEY