Tuesday, December 22, 2009


Corporate News

􀂄 TVS Motor announced that it may venture into the above 200
cc segment in the bikes market as the company looks to
increase its footprint in two-wheeler business. - BS

􀂄 Zee Entertainment Enterprises stated that it would hold a
meeting of its board this week to discuss a proposal for
restructuring the businesses of ETC Networks. - BS

􀂄 Resolving the issue of fuel supply guarantee to upcoming
gas-based power projects, Oil Ministry has asked state-run
GAIL India to extend 'comfort letters' assuring gas supplies
so that the developers can raise finances. - BS

􀂄 After developing the electric version of its flagship passenger
car Indica, country's largest auto maker Tata Motors is now
working on hybrid city buses aimed at providing eco-friendly
transportation solutions for Indian cities. - BS

􀂄 BHEL announced that it has bagged another Rs 640-crore
order from Adhunik Power and Natural Resources for
supplying equipment for the company's thermal power
project in Jharkhand. - BS

􀂄 Ranbaxy Laboratories, announced that it would launch
Olmesartan Medoxomil, an anti-hypertensive drug from
parent company Daiichi Sankyo's portfolio, in six African
countries. - BS

􀂄 L&T Infotech, announced a strategic partnership with
Savvion to provide Business Process Management (BPM)
solutions. - BS

Macro Economic News

􀂄 Indian firms paid 24 per cent more in advance tax for the
October-December quarter year-on-year, suggesting higher
profit growth as economic recovery picked up pace.

Global Cues

􀂄 Japan’s exports fell at the slowest pace in 14 months in
November as demand from Asia supported the nation’s
recovery from its worst postwar recession.Shipments
abroad slid 6.2 percent from a year earlier, the smallest
drop since September 2008 - Bloomberg

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