MORNING NOTES

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