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Economy News
4 FOOD inflation increased marginally for the week ended November 27
after declining for nine consecutive weeks because of an increase in
prices that neutralized the favourable base effect (ET).
4 The power ministry on Thursday said it may miss the power capacity
addition for the 11th plan period by about 4,000 MW due to delay in
commissioning of hydro-power projects (ET).
4 Government panel set up to examine whether to allow foreign direct
investment (FDI) in multi-brand retail has decided against making any
suggestion (ET).
Corporate News
4 TATA Motors will offer a four-year manufacturers warranty on Nano to
boost customers' confidence as the sales of Nano sputtered to just 509
units in November(ET).
4 Strides Arcolab on Thursday announced its entry into biologics, with the
signing of an agreement to acquire 70 per cent stake in biotechnology
company Inbiopro Solutions, based in Bangalore (BL).
4 ONGC has bid for US energy major Exxon Mobil's 25 per cent stake in a
deep-sea oil block in Angola. ONGC Videsh Ltd. (OVL), ONGC's overseas
arm, has submitted a bid (BS).
4 ITC is mulling restructuring of its Paperboards and Specialty Papers
division by merging it into the company's stationery products business,
which is now under the FMCG division to gain better operational
synergies (ET).
4 The Ministry of Environment and Forests (MoEF) has asked Lavasa
Corporation, subsidiary of HCC to furnish additional information about its
hill city project near Pune which allegedly violated environmental norms
(BL).
4 Glenmark tasted more success in the US market, with an approval from
the US Food and Drug Administration (USFDA) earlier this week for
launch of Oxycodone generics in a five mg capsule and a 100mg/5ml oral
solution(BS).
4 CESC foray into the Hydel power generation business to lower risk in
terms of fuel and geography (BS).
4 State Bank of India (SBI) will renew a 8.8 bn bank guarantee given to
Uninor, despite the Supreme Court voicing concerns on bank loans to
telecom companies against licences as the only security.
4 Rallis India, a crop-protection subsidiary of Tata Chemicals, on Thursday
said it will acquire Bangalore-based seeds research company Metahelix
Life Sciences for around 2 bn.
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