MORNING NOTES

Corporate News

􀂄 Tata Motors reported over 100 per cent growth in its sales
during the month of December 2009. The company sold
51,627 vehicles compared to 25,219 vehicles during the
same period last year - ET

􀂄 Ranbaxy Laboratories, announced the transfer of its entire
holding in the Chinese JV firm, Ranbaxy Guangzhou China
(RGCL), to state-owned Chinese firm HNG Chembio
Pharmacy. - ET

􀂄 Ashok Leyland will have no joint branding with Japan's
Nissan for light commercial vehicles to be manufactured by
a joint venture between the two firms. - ET

􀂄 Pantaloon Retail (India) today said it will transfer its value
retail business to its group company, Future Value Retail. -
BS

􀂄 Bain Capital would be investing about Rs 580 crore for over
35 per cent stake in Himadri Chemicals and Industries. -
BL

Macro Economic News

􀂄 India's forex reserves declined by $144 million to $283.499
billion in the week ended December 25 as compared to
$283.643 billion in the previous week, the Reserve Bank of
India (RBI) - ET

􀂄 India's exports rose an annual 18.2 per cent in November
to $13.2 billion, the first rise after 13 straight months of
decline - BS


Global Cues

􀂄 China's manufacturing expanded at the fastest pace in 20
months in December. The boost to Chinese manufacturing
from subsidies for home- appliance purchases and tax
rebates for exporters will continue this year as the
government extends policies to counter the financial crisis.
Industrial production grew in November at the fastest pace
since March 2008, exports dropped the least in 13 months
and imports surged. - Bloomberg