Corporate News
ONGC has awarded an USD 162-million (over Rs.753cr)
engineering and construction contract for an oil well platform
project at the Mumbai High Field to Abu Dhabi-based
National Petroleum Construction Company (NPCC), - ET
The USFDA has issued a warning letter to Ranbaxy
Laboratories' American subsidiary Ohm Laboratories for
violating current good manufacturing practice (cGMP)
norms.ET
Fortis Hospitals plans to invest Rs 250-crore, to expand its
facilities pan-India to complete the projects in Kolkata,
Mumbai and Bangalore. - ET
Shriram Transport Finance Company (STFC) has acquired
Rs 1,200-crore worth of assets of GE Capital India's
transportation finance portfolio - ET
Varun Industries is setting up a Rs.800cr stainless steelcum-
alloy steel plant at Rohat, Jodhpur. The plant would be
set up in two phases and the first phase of the proposed
project is estimated to cost Rs.230cr - ET
Reliance Power Transmission Limited, a subsidiary of
Reliance Infrastructure, is believed to have bagged two
transmission projects worth Rs 4,100 crore connecting six
states - BS
Macro Economic News
India's foreign exchange reserves declined to USD 283.643
billion for the week ending December 18, as against USD
285.742 billion in the previous week
Global Cues
Japan's industrial production climbed the most in 6 months
in November, while falling wages restrained retail sales,
underscoring the nation's reliance on overseas demand to
sustain the economy's recovery. Factory output rose 2.6 %
from the previous month. Retail sales advanced 0.2 % after
a 0.9 % drop in October, and fell 1 % from a year before.-
Bloomberg
~R`money
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