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Corporate News
Steel Authority of India (SAIL) and mining major NMDC will
invest Rs 260 crore in developing the Arki limestone reserves
in Himachal Pradesh. - BS
Larsen & Toubro Power Development is likely to bag the Rs
6,000-crore Rajpura thermal power project in Punjab as it
has turned out to be the lowest bidder among others during
the price bid opening. - BS
Bharat Forge is planning to make a big foray into the power
sector with an investment of up to Rs 50,000 crore and a
targeted generation capacity of up to 10,000 Mw, over the
next 10 years. - BS
Steel Authority of India (SAIL) cut prices of some of its
products, used primarily by the automobile and the white
goods industry, by a further Rs 500 a tonne mainly on weak
global demand. - BS
Glenmark stated that it has settled all pending patent
disputes with US-based Medicis Pharmaceutical Corp over
a skin disease drug, besides signing a licensing agreement
for new drug delivery system (NDDS). - BS
Suzlon Energy announced that its US-based arm Suzlon
Wind Energy Corporation, has received order for supply of
10 wind turbines. - BS
Asian stocks gained, driving the MSCI Asia Pacific Index to a
three-week high, after regional leaders pledged to maintain
stimulus measures and a Chinese government spokesman
said he expects retail sales to accelerate. Bloomberg
Macro Economic News
Amid inflation doubling to 1. 54 per cent in October on
monthly basis, the Government admitted that there have
been supply constraints on some food items, leading to
rising prices of those items. - BS
The government has assured the National Highways
Authority of India that the cess on diesel and petrol will
continue for 20 years, ensuring that adequate funds are
available for highways development. -ET
Global Cues
Asian stocks gained, driving the MSCI Asia Pacific Index to a
three-week high, after regional leaders pledged to maintain
stimulus measures and a Chinese government spokesman
said he expects retail sales to accelerate. Bloomberg
~~R`MONEY
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