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Corporate Front Page:
- Zensar Technologies to acquire US-based PSI Holdings' unit Akibia for US$66 million. (BL)
- Tata Chemicals announced the launch of ‘Paras Farmoola', the country's first ever customised fertiliser product specifically targeted at farmers in western-central Uttar Pradesh. (BL)
- Godrej Agrovet, the agri-business arm of Godrej Ltd, has planned to enter the dairy farming business and is in talks with Israeli diary farm technology providers. (BS)
- The government has approved stock split of ONGC shares, making it affordable for investors ahead of its FPO. (ET)
- Lupin has been sued in US over HIV drug. (FE)
- Gujarat State Petroleum Corporation through a consortium of banks has tied up a Rs30bn term loan to finance its DeenDayal West field in the Krishna Godavari basin. (BS)
- Jubilant Energy plans to raise US$85mn through institutional placement and plans to get listed on the London Stock Exchange on November 24. (BS)
- The initial public offer of state-owned Punjab & Sind Bank will hit the market early next month. (BS)
- Indian Bank has received the Central Bank of Sri Lanka's nod to open its branch at Jaffna in Sri Lanka. (BS)
- The follow-on public offer of Shipping Corporation of India for Rs13bn would come out on November 30. (BS)
- Religare Capital Markets, the investment banking arm of Religare Enterprises, has acquired the UK operations of Barnard Jacobs Mellet for an estimated US$40-50mn. (BS)
- Bharati Shipyard has agreed to acquire 51% equity stake in the Chennai-based Tebma Shipyard for Rs758mn. (BL)
- Kalpataru Power Transmission and Techno Electric and Engineering have achieved financial closure of a design, build, finance, operate and transfer project of 400 kV, 100 km power transmission line from Jharli to Bawana project from the Haryana Vidyut Prasaran Nigam. (BL)
- BHEL has joined hands with GE for manufacturing water treatment equipment. (BL)
- Fitch Ratings has upgraded the credit rating of Tata Steel and Tata Steel UK Holdings to stable from negative. (BL)
- Tata Teleservices’ GSM arm Tata Docomo launched its 3G services in Maharashtra. (ET)
- Axis Bank to open 100 branches under its rural banking strategy initiative in Tier–III, IV and V cities of the country. (ET)
- Suryachakra Energy & Infrastructure Private Ltd, a wholly owned subsidiary of Suryachakra Power Corp. is in line to develop a 150 Mw lignite based power plant in the Bhavnagar district of the state. (BS)
- Crisil has placed its outstanding ratings on debt instruments of 12 microfinance institutions on rating watch with negative implications (BL)
Economy Front Page:
- Airlines reported a passenger growth of 18.3% in October to 4.6 mn. (BS)
- The Drugs Controller General of India has suspended the sale of anti-obesity drugs 'Sibutramine' and 'R-Sibutramine' in the country as continued use of both drugs could lead to heart attack. (BS)
- Government likely to decontrol the retail price of Urea and shift it to the nutrient based subsidy regime by 2011-12. (FE)
- Navi Mumbai airport gets a green nod from the environment ministry, but with riders. (FE)
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