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Corporate Front Page:
- Dalmia Bharat Enterprises plans to invest Rs25bn to set up two green-field cement plants in Karnataka and Meghalaya. (BL)
- Larsen & Toubro has bagged a Rs7.2bn infrastructure contract from the Department of Transport, Abu Dhabi. (BL)
- Opto Circuits India has acquired 76% of the outstanding common stock of US-based Cardiac Science Corp.; price of the acquisition was not divulged. (BL)
- Godrej Consumer Products has decided to buy two domestic brands – Genteel (a liquid detergent) and Swastik (soaps) for an undisclosed amount. (BL)
- Bhushan Power and Steel Group is planning a £450mn London flotation next year and has appointed investment banks for this purpose. (DNA)
- HDFC hikes home loan rates by 75bps. (BL)
- Siemens will invest nearly Rs4bn in the development of wind turbines in the country in the next two year. (BL)
- Honda could end up selling its 26% stake to Hero Group at a substantial discount to the market price, but this will be offset by higher royalty payment till 2014. (BL)
- ICICI Bank announced increase in both lending and deposit rates. (BL)
- Nuclear Power Corporation and Areva will sign two agreements for developing a 10,000MW nuclear power project at Jaitapur in Maharashtra. (BS)
- M&M will invest Rs2bn to set up a tractor manufacturing plant in South India, the location of which will be decided in the next three months. (BL)
- DLF has sold 150 plots, garnering more than Rs5bn, in a township project at Gurgaon. (BS)
- ONGC plans to spend US$1.8bn over three years to replace ageing infrastructure and maintain production at onshore oilfields in Gujarat.(ET)
- Central Bank of India plans to raise Rs25bn through a rights issue in the fourth quarter of the current fiscal to augment capital adequacy. (BL)
- Sun Pharmaceutical Industries is set to delist its troubled US-based subsidiary Caraco Pharmaceutical from the US bourses. (BS)
- Pratibha Industries says it has got an order worth over Rs3.5bn from Dubai Electricity & Water Authority. (FE)
- Aurobindo Pharma gets a tentative nod from the US FDA for its anti-depressant drug. (FE)
- Shipping Corporation of India is looking to spend around US$3bn on expansion activities over the next three years. (ET)
- Maharashtra state government has refused to clear HCC’s additional claim of 6.5bn for completion of the Worli Bandra Sea link project in Mumbai. (BS)
Economy Front Page:
- Foreign exchange reserves drop by US4$bn to US$294bn in the week ended November 26. (BL)
- Last-minute fares on domestic flights have fallen 20-25% from the previous high levels. (BL)
- RBI Governor has asked banks to operate on lower margins so that they can offer higher rates on deposits and lend at lower rate. (BL)
- Government says it plans to release more spectrum soon and that notices will be sent to errant companies that secured the licences along with 2G spectrum despite their ineligibility. (FE)
- Group of Ministers headed by Finance Minister approved the draft mining Bill, which will provide for sharing 26% of company profits with local populace in mining projects. (BS)
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