Buzzing Stocks - Keynote Capitals (November-25-'10

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Buzzing Stocks

·        The Central Bureau of Investigation has arrested eight people, including senior executives of banks and housing finance companies like LIC Housing Finance, LIC, Central Bank of India, Bank of India and Punjab National Bank for giving loans to private builders after taking bribes.

·        Reliance Industries and NTPC may settle out of court their five-year-old legal battle over a contract to supply gas from Reliance’s field in KG basin.

·        NTPC has set up a JV with the Asian Development Bank and Japan’s Kyuden International Corporation to develop renewable energy projects with a capacity of 500 MW over the next three years.

·        The coal ministry issued show cause notices on Wednesday to four companies asking them to explain delays in developing mines allocated to them, the ministry's website showed. The companies, in the latest round of notices sent by the ministry, include Bhushan Steel & Stripes, SKS Ispat and Power and DCM Shriram Consolidated.

·        Abbott India agreed to merge Solvay Pharma into itself.

·        Sun Pharmaceutical Industries received a tentative approval from the US Food and Drug Administration to market the generic version of Eli Lilly & Co's Cymbalta.

·        Dr Reddy’s Laboratories has signed an agreement with GlaxoSmithKline, to buy the latter’s oral penicillin manufacturing facility at Tennessee in the US.

·        Maruti Suzuki is not contemplating any price raise, despite a 20-30 % surge in raw material prices in recent months.

·        Punj Lloyd has won ~Rs16bn domestic and overseas contracts.

·        Cairn Energy Plc may soon seek government’s approval to sell three blocks to Vedanta Resources.

·        Power Grid is likely to sign MoU with Sri Lanka for developing of high capacity power transmission link between the India and Sri Lanka from the Indian side.