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ADR/GDR's: AXSB dn 2.24%, BD dn 5.09%, CIPLA up 2.30%, ITC up 2.73%, OCP dn
3.89%, RW dn 3.07%, TCOM dn 3.70%.
` SEBI is considering greater oversight over share sale in listed firms, especially small &
mid-sized cos., through large open market deals & the QIP route. (ECNT)
` A sharp slowdown in offtake from the infrastructure segment, extended monsoon,
labour shortage (due to festive season) & huge stock positions at the dealer &
consumer level have resulted in a poor set of dispatch numbers for Indian cement
industry. (FNLE)
` Unfazed by controversy surrounding its housing finance arm, LIC plans to pump
around USD 13.26bn in the equity market during this fiscal. (ECNT)
` ONGC (ONGC IN) plans to spend USD 1.8bn over 3 years to replace ageing
infrastructure & maintain production at onshore oilfields in Gujarat. (ECNT-Sat)
` The government has issued notices to four firms, including a jointventure of Hindalco
(HNDL IN) and Essar Power, asking them to explain why coal blocks allocated to them
should not be withdrawn after their failure to develop the reserves within the
stipulated time. (BSTD)
` The joint venture of BHEL (BHEL IN) with Nuclear Power Corporation of India is likely
to be approved soon by the Union Cabinet. (BSTD)
` Nuclear Power Corporation and Areva (ATD IN) would sign two crucial agreements
tomorrow for developing a 10,000 Mw nuclear power project at Jaitapur in
Maharashtra. (BSTD)
` Hero may have to play on Honda terms after break-up. Hero Group is believed to
have won rights to use the Honda brand till 2014-end. (BSTD)
` After 26 years, Honda to part ways with Hero. To sell its 26% stake to the Munjals
for USD 1.2 bn. (BSTD-Sun)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Lin
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