Corporate & Economy Front Page:: IIFL

Visit http://indiaer.blogspot.com/ for complete details �� ��

Corporate Front Page:

- RIL prolific D-1 and D-3 gas fields off the east coast have seen a 15% drop in production to about 45-46mn cubic meters per day because of reservoir complexities. (ET)

- Siemens Ltd plans to invest US$87mn on the development of wind turbines over the next two years. (ET)

- BHEL has bagged an order worth Rs37bn to supply the country’s first super critical 700-Mw coal fired unit of Karnataka Power Corporation Ltd for its thermal power station (TPS) at Bellary. (BS)

- HCL Technologies has signed a multi-year IT infrastructure management deal with pharmaceutical firm Purdue Pharma. (ET)

- Sun Pharmaceutical has received a tentative approval from US health regulator to market generic donepezil hydrochloride tablets used for treating Alzheimer's disease in the American market. (ET)

- Videocon Industries along with its partners Oilex, Sasol Petroleum Australia, Bharat Petro Resources and Hindustan Petroleum, have entered into a farm agreement with Apache Northwest for WA-388-P gas exploration license in offshore West Australia. (FE)

- SAIL has signed a memorandum of understanding with Japanese steelmaker Kobe Steel Ltd for a comprehensive strategic collaboration covering technologies, projects and other areas. (BL)

- Neyveli Lignite Corporation sets up a 1,980 mw coal-based power project near Kanpur. (FE)

- IDBI Bank plans to raise US$1bn through bonds in the overseas market in next 12-months. (ET)

- NPTC plans to place orders for generators worth US$7.2bn by March 31 as it accelerates capacity addition to help reduce blackouts. (ET)

- PNB has revised interest rates on fixed deposits above Rs10mn to 8% for maturity over one year. (ET)

- The Shipping Corporation of India plans to raise Rs50bn via EBD route in the next two years to finance its fleet expansion. (ET)

Economy Front Page:

- Indian economy grew 8.9% in the second quarter of the current fiscal. (ET)

- India's core sector output grew 7.0% yoy in October. (ET)

- India's agriculture and allied sector grew by 3.8% yoy during H1 FY11 on the back of better Kharif crop output. (ET)

- The Centre's fiscal deficit narrowed by 33.76% yoy for the period April-October, 2010, on the back of better-than-expected revenue from the sale of spectrum and robust tax collections. (ET)

- PSU oil firms hiked jet fuel prices by 1.4%, the fourth increase in rates in two months. (FE)

- The Directorate General of Civil Aviation has set up a tariff analysis unit to monitor route-wise fares across networks, on a regular basis. (FE)

- The Department of Pharmaceuticals, along with the domestic drug industry, will launch a global campaign to highlight the quality of generic drugs made in the country. (BS)