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Buzzing Stocks
· ONGC and Russian conglomerate Sistema have decided to merge their oil & gas businesses in Russia under a joint venture in a no-cash deal where the Indian firm will have a 25% shareholding.
· Maruti Suzuki plans to launch its much awaited D-segment car Kizashi in high end luxury space in January next year.
· Union Bank of India signed an agreement with its public sector peers from the telecom space, BSNL and MTNL, under which the lender will get access to telecommunication technologies at competitive rates.
· M&M re-enters compact SUV segment with Mahindra Thar priced at `5.97-6.28L.
· Patel Engineering along with its consortium with BS TransComm and Simplex Infrastructure has won an order worth `3bn from REC Transmission Projects to set up a 765 KV transmission system. The completion of the project is expected by March 2014 and the operation period is for 35 years.
· Lanco Infratech has bagged a `4,100Cr order from an arm of Moser Baer Projects to execute a 1200-MW power project.
· Texmaco has signed an MoU with UGL of Australia for setting up a joint venture. The JV would cover design, manufacture and supply of locomotive bogies, frames, wagon components for both Australian and Indian markets.
· Dr Reddy's Laboratories has signed a pact with Russia-based R-Pharm for co-development of high technology products and collaboration in manufacturing and marketing.
· SAIL is talking with a state-run South African company to set up a steel plant there to tap the resources of the continent’s biggest producer of the metal.
· Jain Irrigation will grow its presence in contract farming and food processing apart from expanding in drip irrigation for which the company has charted out a `3.5bn capital expenditure plan.
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