Monday, November 23, 2009


Corporate News

􀂄 Ranbaxy Laboratories has recalled from the US market a
batch of 4,348 cartons of Sotret Isotretinoin capsules used
in treating skin infections. - BS

􀂄 Gammon infra secures 850 cr NHAI contract. The estimated
cost of the project which is pegged at Rs 850 crore will be
for improving the highway stretch from Patna to Muzaffarpur
in Bihar and will fall under the National Highway
Development Programme (NHDP) Phase III on build operate
transfer (BOT) basis. - BS

􀂄 Edelweiss Capital announced that it has entered into an
agreement with Japan based-Tokio Marine Holdings to
jointly float a life insurance company with an initial investment
of Rs 550 crore. - BS

􀂄 Maoists exploded a bomb in Meghatpur mine and planted
another at Kiribur, both run by public sector SAIL along the
Orissa-Jharkhand border. - BS

􀂄 Peninsula Land stated that the company has received Rs
275 crore form Alok Realtors on account of sale of 6.41 lakh
sq. - BS

􀂄 State Bank of India (SBI) launched mShop to enable its credit
cardholders shop from over 100 merchants across the
country, using their mobile phones. - BS

Macro Economic News

􀂄 Foreign exchange reserves rose $ 962 mn during the week
ended November 13 as the central bank bought the dollars
that came in as portfolio investments by foreign institutional investors - ET

Global Cues

Emerging-market stocks dropped to the lowest level in a
week and currencies fell as oil prices slumped and the
European Central Bank president said policy makers will
withdraw emergency cash gradually. - Bloomberg

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