Tuesday, December 1, 2009


Corporate News

􀂄 Cairn India has produced and sold one million barrels of oil
from its Mangala oil field in Rajasthan. The oil is sold at 10-
15 per cent discount to the average price of Brent crude oil
during the six months to September - BL

􀂄 Mahindra First Choice Wheels Ltd, a part of the Mahindra &
Mahindra group, opened its first multi-brand pre-owned car
outlet in the state and plans to open eight more in the current
fiscal year. - BL

􀂄 Shriram EPC (SEPC) has signed a MoU with China-based
North West Electric Power Design Institute to form a
consortium for execution of thermal power projects to be
implemented on an EPC basis in India. - BL

􀂄 Suven Life Sciences said the European Patent Office (EPO)
has issued three patents to its chemical entities which are
used in treating nerve disorders. - BL

􀂄 State-run NTPC stated that it has identified three more coal
blocks in Indonesia for acquisition. The company has
already acquired a coal mine in Indonesia. - BL

􀂄 The Nuclear Power Corporation of India Limited (NPCIL)
and Larsen & Toubro (L&T) today signed a joint venture
agreement to make special steel and ultra-heavy forgings
at a plant in Hazira (near Surat) for an investment of Rs
1,725 crore. - BS

Macro Economic News

􀂄 India's economy grew by 7.9 percent in the quarter through
September from a year earlier, shattering forecasts as
stimulus measures boosted demand and manufacturing
activity surged.-ET

Global Cues

􀂄 European consumer prices increased for the first time in
seven months in November led by energy costs as the
economy recovered from the worst slump. Prices in the 16-
nation euro region rose 0.6 percent from a year earlier after
falling 0.1 percent in October, the European Union statistics
office in Luxembourg said today. Economists had projected
a gain of 0.4 percent - Bloomberg

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