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Headlines
• L&T has bagged orders worth Rs11.6bn for its metallurgical and water operating
division, which includes an order of Rs5.2bn from Tata Steel. (ET)
• SBI plans to raise Rs10bn through Tier-II bonds and Rs2bn through bond offering to
retail investors during the remaining period of FY11 and FY12. (BS)
• JSW Steel plans to hike product prices by 3-5% in January to mitigate impact of
higher input costs. (FE)
• JSW Energy has commissioned it’s second unit of 300MW of the 1200MW power
project at Jaigad in Ratnagiri. (BS)
• Nano by Tata Motors, is set to recover from its successive decline in growth for 5
months, post robust sales in December of about 5000 units buoyed by new finance
schemes and other incentives. (ET)
• HCL Infosystems plans to buy 20% stake in Dubai based Techmart Telecom
Distribution FZCO with an option to increase it to 51%. (BS)
• Lanco Infratech has won a contract for two-laning of Aligarh to Kanpur section of
NH 91 from 140km to 418km on toll basis from NHAI with a concession period of 12
years. (BS)
• Pfizer has bought 22 Abbreviated New Drug Applications from Strides Arcolab Ltd.
which include 16 approved and 6 pending filings for sale of off-patent steriles and
injections for about US$28.2m. (BL/Mint)
• Sun Pharma has received tentative approval from USFDA for its generic
Ibandronate sodium Injection. (BS)
• Suven Life Sciences has received two product patents from Indian Patent Office,
valid till 2027, for its new chemical entities for treating disorders like Alzheimer’s
disease, Parkinson, Schizophrenia and attention deficit hyperactivity disorder. (BS)
• Corporation Bank has revised the base rate from 8.25% to 8.90% with effect from
January 3. (FE)
• Rallis India Ltd, a subsidiary of Tata Chemicals Ltd, has completed the
acquisition of Metahelix Life Sciences Pvt. Ltd in an all cash deal of Rs1bn. (Mint).
• Patni Computer System’s board is reportedly likely to take a call on the promoter
stake sale to iGate in a board meeting scheduled on January 3. (BS)
• Sahara group firm Aamby Valley has bought Grosvenor House Hotel in Central
London from RBS group for Rs33bn. (BS)
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