MORNING NOTES

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Corporate News


􀂄 HCL Infosystems will have to give up two large IT contracts
jointly worth over Rs 1,700 crore after the company emerged
as the lowest bidder in all the four zones for state-run Bharat
Sanchar Nigam's (BSNL) $1-billion IT outsourcing
contract.BL

􀂄 Fortis Healthcare on Tuesday said that the acquisition of
ten hospitals from rival Wockhardt Hospitals for Rs 909
crore announced recently, will be completed by December
and will start contributing to the financials from the next
quarter - ET
􀂄 NTPC would float the bulk tender order for securing
equipment for five 800-MW units before March 2010. NTPC
recently floated tenders inviting bids for 11 units of 660 MW.ET

􀂄 Binani Cement is in talks to acquire a cement firm in Turkey
for around Rs 1,000 crore as part of its strategy to more than
double its production capacity by two years. - BS

􀂄 Glodyne Technoserve will merge Pune-based project
management software services firm Compulink Services
with it. The merger is expected to help Glodyne to leverage
on Compulink's strong intellectual property rights (IPRs)
and client relationships - BS

􀂄 McNally Bharat has sold two per cent stake in its arm McNalli
Sayaji Engineering to Mauritius based investor EIG. The
company sold 148,598 shares for a total consideration of
Rs 1.4 8 million - BS

􀂄 Sales of new U.S. homes unexpectedly fell in September, a
sign the housing recovery may lose momentum after a
government tax credit expires. Sales decreased 3.6% to a
402,000 annual pace.The median price of a new home
dropped 9.1 percent from September 2008. - Bloomberg

Macro Economic News

􀂄 India's six core industries logged a growth of 4% in
September and 5% in the first six months this fiscal,
Production registered a decline of 1.2%, compared to a
decline of 0.8% during the same period last fiscal. The
petroleum refinery sector grew 3.4% this September, up
from the 2.8% growth registered in the corresponding month last year.- ET
 
GLOBAL CUEs
 
Sales of new U.S. homes unexpectedly fell in September, a

sign the housing recovery may lose momentum after a
government tax credit expires. Sales decreased 3.6% to a
402,000 annual pace.The median price of a new home
dropped 9.1 percent from September 2008. - Bloomberg
~R`MONEY