MORNING NOTES

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Corporate News

􀂄 Electrical and Gulf Projects Operating Company, a part of
L&T's construction division, has bagged orders aggregating
Rs 582 crore for four electrical projects in India and UAE. -
BS

􀂄 L&T Finance, the financial services arm of the engineering
giant Larsen & Toubro, today said it is planning to extend its
micro-finance business to Gujarat and Orissa soon - BS

􀂄 Mahindra & Mahindra Ltd and UK's BAE Systems will inject
a total of USD 21.25- million (Rs 99.4-crore) over a threeyear
period into their joint venture company, Defence Land
Systems India - ET

􀂄 The French auto major Renault ruled out breaking away
from its existing joint venture with the Mahindras, but said it
wants to restructure the operations of the partnership entity.
- ET

􀂄 GMR Infrastructure is in advanced discussions with a couple
of private equity funds to raise nearly Rs 1,500 crore for its
power subsidiary GMR Energy, to enable it to fund its planned
expansion - ET

􀂄 Sadbhav Engineering has bagged a road project worth Rs
1,225 crore in Karnataka from the National Highways
Authority of India (NHAI).A consortium led by the company
has bagged a four-laning project in Karnataka. The
concession period of the project is 20 years. - BS

Macro Economic News

􀂄 Industrial output to rise 12 percent in December from a year
earlier, the median forecast in a poll of 21 economists shows.
That is marginally higher than an annual rise of 11.7 percent
in November. - ET

Global Cues

􀂄 Inventories at U.S. wholesalers unexpectedly fell in
December following the biggest increase in more than five
years, indicating distributors had trouble keeping up with
demand. The 0.8 percent decrease in stockpiles followed a
revised 1.6 percent gain in November that was the largest
since July 2004. - Bloomberg
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R`MONEY