MORNING NOTES

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Corporate News

􀂄 The Adhunik Group of Industries, with interests in power,
steel, cement, transmission towers and mining businesses,
has initiated talks to acquire 50% stake in an Australian
coking coal mine for $100 million - ET

􀂄 Wockhardt has received tentative approval from the US drug
regulator to market Levofloxacin tablets, used for treatment
in a broad spectrum of bacterial infections. - Et

􀂄 Dishman Pharmaceuticals and Chemicals Ltd plans to set
up four new active pharmaceutical ingredient plants. The
company will spend Rs 1.25 billion on the expansion. It will
raise Rs 750 million via debentures, while internal accruals
will contribute the remaining Rs 500 million, - ET

􀂄 GTL Infrastructure has agreed to buy the tower assets of
Aircel for about Rs 85 billion ($1.8 billion) - ET

􀂄 IVRCL Infrastructures & Projects has bagged an order worth
Rs 1,550 crore from National Highway Authority of India
(NHAI) for construction of road. - BS

􀂄 Punjab Chemicals & Crop Protection will raise Rs 200 crore
by various routes from domestic and international markets-BS

Macro Economic News

􀂄 Farm product exports in value terms have surged about 40
per cent to over Rs 80,600 crore in the past three years, with
foodgrain, oilmeals and fruits and vegetables witnessing
maximum demand in the overseas market. - ET

Global Cues

􀂄 The number of mortgage applications in the U.S. rose 14
percent last week, led by a rebound in refinancing activity.The
Mortgage Bankers Association’s index of loan applications
climbed to 528.1 in the week ended Jan. 8, from 462.2 a
week earlier. - Bloomberg
~R`MONEY