MORNING NOTES

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Corporate News

􀂄 Oil and Natural Gas Corp stated that its energy trading joint
venture with steel tycoon Lakhsmi Mittal will be merged with
their exploration tie-up, but did not tell why it failed to make
equity contribution in the venture.

􀂄 Venus Remedies has bagged patent for Potentox drug from
South African patent controller. - BS

􀂄 Aurobindo Pharma announced that it had received final
approval from the US Food and Drug Administration (USFDA)
for Perindopril Erbumine tablets meant for treatment of
hypertension. - BS

􀂄 Infosys Technologies today said its subsidiary Infosys BPO
will acquire US-based McCamish Systems for an initial
payment of $38 million (about Rs 176.6 crore). - BS

􀂄 Power trading firm PTC India is likely to have minority stake
in its proposed joint venture with UK-based Ashmore Group
for funding power projects in the country. - BS

􀂄 The government allowed ONGC Videsh, the overseas arm
of state-run Oil and Natural Gas Corp, to invest an additional
$70 million in an oilfield in Brazil, taking its total investment
in the project to $748 million. - BS

􀂄 Asian stocks slumped, led by BHP Billiton Ltd. and
PetroChina Co., and bonds climbed as oil prices fell on
concern the global economic recovery will falter. -Bloomberg

Macro Economic News

􀂄 Industrial output rose at faster-than-expected 9.1% in Sept
from a year earlier. August's annual industrial growth rate
was revised up to 11 per cent from 10.4 per cent previously.- ET

􀂄 A new comprehensive wholesale price index (WPI) is likely
to replace the current one by the beginning of the new fiscal,
as the government expects data collection issues for the
wider index to be sorted out by April next year. - BS

Global Cues

Asian stocks slumped, led by BHP Billiton Ltd. and
PetroChina Co., and bonds climbed as oil prices fell on
concern the global economic recovery will falter. -Bloomberg
~~R`MONEY