MORNING NOTES

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Corporate News

􀂄 Reliance Industries (RIL) is close to striking a deal to buy
crude oil from Cairn India's prolific Rajasthan oil fields and
the first parcel may reach its Jamnagar refineries by the
fourth week of November. - BS

􀂄 VE Commercial Vehicles (VECV), a subsidiary company of
Delhi-based Eicher Motors (EML) has signed a non-binding
memorandum of understanding (MoU) with the Vinn Group
of Sweden to explore business opportunities in the field of
engineering design services. - BS

􀂄 Nucleus Software Exports stated that it has entered into an
alliance with Senior Solution for distribution and marketing
of its product in Brazil. - BS

􀂄 NHPC, which plans to diversify into thermal energy
generation, has assigned NTPC to prepare a detailed report
of 1,320 MW coal- based plant at Khandwa in Madhya
Pradesh. - BS

􀂄 Tata Steel announced that it has cut prices of some of its
steel products mainly on account of weakening global
trend.BS

􀂄 Tata Communications has signed a partnership agreement
with SugarCRM to provide On-Demand CRM applications
to its customers in India. - BL

􀂄 Europe’s services and manufacturing industries expanded
for a third month in October as evidence mounted that the
global economy is pulling out of the recession.A composite
index based on a survey of purchasing managers in both
industries in the euro-area economy rose to 53 from 51.1 in
September. - Bloomberg

Macro Economic News

􀂄 Power generation in October rose 4.5 per cent from a year
ago, as coal supply dwindled. - ET

􀂄 India's farm sector growth will be less than 4 percent this
fiscal on account of floods and deficient monsoon in some
parts of the country as stated by the Planning Commission.BS

Global Cues

Europe’s services and manufacturing industries expanded
for a third month in October as evidence mounted that the
global economy is pulling out of the recession.A composite
index based on a survey of purchasing managers in both
industries in the euro-area economy rose to 53 from 51.1 in
September. - Bloomberg

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