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Buzzing Stocks
· JSW Energy to buy Canada's CIC Energy Corp for $414.5mn.
· Coal India hopes to acquire a stake in at least one of the Australian mines of Peabody Energy in a few months and is in advanced negotiations with foreign firms for long-term coal import contracts.
· State Bank of India has raised 750 million euros through global capital markets to fund euro-denominated assets.
· Dr. Reddy’s Laboratories has bought GlaxoSmithKline’s oral penicillin facility and products in the US for an undisclosed sum.
· The finance ministry has agreed to compensate Rs130bn to oil marketing companies, IOC, HPCL and BPCL, for the losses they incur this fiscal due to selling diesel and cooking fuel below cost.
· Nestle has increased its stake in its Indian arm by 0.8% through stock market purchases during the quarter ended September.
· HPCL and its partners will divest 40% of their stake in a gas bearing block in offshore Australia to US based Apache Corp.
· GMDC has extended the deadline to submit Expression of Interest (EoI) for its 1 million tonne per year (mtpy) alumina refinery and 0.5 mtpy aluminium smelter by another week.
· Kingfisher Airlines has entered into a code sharing arrangement and frequent flyer relationship with American Airlines starting 2011.
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