Thursday, December 24, 2009


Corporate News

􀂄 Usha Martin Infotech today said it has approved capital
restructuring of the company for foray into the education
sector and focusing on learning solutions. -BS

􀂄 Consumer electronics major LG Electronics India today said
it will invest Rs 200 crore over the next three years in IT
business as it forays into the small and medium businesses
(SMB) segment. -BS

􀂄 The country's largest bulk tea producer McLeod Russel India
(MRIL) today announced the acquisition of Uganda's
Rwenzori Tea Investments for about $30 million (nearly Rs
140 crore), inching closer to becoming a 100-million kg
company. -BS

􀂄 Two-wheeler maker Bajaj Auto today said it is eyeing 1 million
sales a year from the Pulsar brand in the next fiscal with the
launch of the Pulsar 135 LS. -BS

􀂄 Kishore Biyani-led Future Group is planning entry into hotel
business and may set up the first one in the next six months.

􀂄 State-owned National Aluminium Company (Nalco) is
scouting for financial partners to part fund its Rs 7,800-
crore proposed aluminium project in Iran. -BS

􀂄 With revival of demand in the domestic automart, the
country's largest carmaker Maruti Suzuki India expects its
sales to grow by about 20 per cent during the current
financial year. -BS

Macro Economic News

􀂄 Finance minister Pranab Mukherjee on Wednesday said
the economy could grow by 7.5% to 8% during the current
financial year, though price rise and fiscal consolidation
remained areas of concern. - ET

Global Cues

􀂄 Spending by U.S. consumers increased in November less
than anticipated as Americans cut back on services after
buying more autos and electronics.The 0.5 percent increase
in purchases was the sixth gain in the past seven months
and followed a 0.6 percent increase in October - Bloomberg

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