Thursday, December 31, 2009


Corporate News

􀂄 Oil and Natural Gas Corporation and GAIL India plans to
take 12.5 per cent stake in the USD 2.01 billion (around Rs
9,300 crore) gas pipeline that China is building in Myanmar
to transport natural gas found in the Bay of Bengal. - ET

􀂄 Bharti Airtel is close to acquiring a majority stake in the
Bangladesh operations of Warid Telecom. The Indian
company is looking at buying a 70 per cent stake in Warid
and has received a favourable response from the
Bangladeshi firm's promoters -- the Abu Dhabi group. - ET

􀂄 Cox and Kings (India) Ltd has acquired Australia-based
MyPlanet Australia Pty Ltd & Bentours International Pty Ltd
from a unit of TUI Travel Plc - BS

􀂄 Max India Ltd will sell 9.4 % stake in the company to
Goldman Sachs Capital Partners for a rupee equivalent of
around $115 million on preferential basis - BS

􀂄 Neyveli Lignite Corporation (NLC) today said that it proposed
to venture into power generation and mining industries
business - ET

Macro Economic News

􀂄 India's fiscal deficit is estimated at 6.8% of gross domestic
product for 2009/10 (April-March).

􀂄 Oil prices rose above $79 a barrel in Asia despite a surprise
rise in weekly US crude inventories ahead of the release of
government data.

Global Cues

􀂄 Companies in the U.S. expanded in December at the fastest
pace in almost four years, signaling the economic recovery
is gaining speed heading into 2010.Stimulus programs and
discounting have propelled a rebound in global sales that
is reducing stockpiles, which may spur manufacturers to
further increase production in coming months - Bloomberg

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