Wednesday, December 23, 2009


Corporate News

􀂄 Sun TV Network will restructure its distribution business
and team with the creation of two verticals one focused on
managing the South Indian operations and the international
business and the second focused on expanding the Sun
TV bouquet into the north, west and eastern markets of

􀂄 Sun Pharmaceutical Industries, stated that Glass, Lewis &
Co, LLC, a leading independent proxy advisory firm,
recommended that shareholders of Taro Pharmaceutical
Industries voted against all of the proposals made by Taro's
board of directors. - BS

􀂄 Reliance Industries (RIL) has announced its third
successive gas discovery in the exploration block KG-DWN-
2003/1 (KG-V-D3), of NELP-V. - BS

􀂄 Adani Power Rajasthan, a 100 per cent subsidiary of Adani
Power (APL), has been awarded letter of intent (LoI) by
Rajasthan Rajya Vidhyut Utpadan Nigam (RRVPNL) for
purchase of upto 1,200 MW of power on long-term basis.BS

􀂄 JK Tyre is exploring possibilities to acquire a company in
the South East Asian region. - BL

􀂄 Aban Offshore announced that it has repaid bonds worth
Rs 800 crore along with accrued interest. - BS

􀂄 Lupin stated that it has settled all litigations relating to
memantine tablets, the generic version of US-based Forest
Laboratories' Alzheimer drug 'Namenda'. - BS

􀂄 Jindal SAW, a part of $12 billion Jindal Group, has bagged
orders worth Rs 1,100 crore. - BS

Macro Economic News

􀂄 Corporate advance tax payments for October-December
quarter shot up sharply, suggesting a higher profit growth in
corporate sector in the third quarter (October-December) of
the current fiscal. - ET

􀂄 FIIs bring in $8 billion between August and October, but the
RBI absorbs only $336 million. -BS

Global Cues

The economy in the U.S. expanded in the third quarter at a
slower pace than anticipated as companies curbed
spending and cut inventories at an even faster pace,
reductions that have set the stage for acceleration in
growth.The 2.2 percent increase in gross domestic product
from July through September compares with a 2.8 percent
gain previously - Bloomberg

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