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Buzzing Stocks
· JSW Steel is close to buying a 45% equity stake in Ispat Industries for `21.6bn.
· DoT has directed telecom service providers Tata Teleservices (TTSL) and Reliance Communications (RCom) to stop launch of 3G mobile services till a lawful interception mechanism is in place.
· Ranbaxy Laboratories' South African joint venture (JV) has bagged a two year government order to supply HIV medicines worth `6.03bn.
· Voltas to form a joint venture with Saudi Arabia’s Olayan Financing Company to execute electro-mechanical projects in the country.
· Reliance Industries plans to shut its fluid catalytic cracker (FCC) of about 200,000 barrels per day (bpd) at its older refinery at Jamnagar at the end of January.
· Tata Chemicals is set to acquire British Salt, a soda ash raw material maker in the UK, for £93mn (`6.6bn).
· Coal India (CIL) has signed a MoU with the Shipping Corporation of India (SCI) to create a JV to provide end-to-end logistics solutions for bringing internationally-produced coal into the country.
· The Munjal family, promoters of the Hero Group, is likely to have over 50% stake in a special purpose vehicle to hold Honda's 26% share in Hero Honda, following termination of the joint venture.
· Reliance Infrastructure has enhanced the capacity of its existing network by adding about 300 sub-stations and 450 kilometres of cable network to its Mumbai distribution.
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