News update 31 Oct: Kotak

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Economy News
 India Inc gets about Rs 670 bn worth of fresh orders in the Sept quarter, a
rise of 45% sequentially and the highest in the past four quarters. The
momentum has continued into the quarter ending December, too, with
companies reporting fresh orders of about Rs 200 bn so far this quarter.
(BS)
 Underrecoveries of oil marketing companies (OMCs) on subsidised sale of
diesel, liquefied petroleum gas (LPG) and kerosene declined 16 per cent in
the first half of the current financial year. (BS)
 Ratings firm Moody's has reversed its India outlook, saying it may upgrade
the country's sovereign rating if inflation stays under control in the long
term and the recent measures to boost growth and attract investments
are implemented properly. (ET)

A special court trying the fraud at erstwhile Satyam Computer Services
Ltd said it would pronounce its verdict in the nearly six-year-old case on 23
December. (Mint)
 The Competition Commission of India (CCI) has cleared Adani Power's
proposed deal with Lanco Infratech to buy latter's 1,200-MW imported
coal-fired power plant at Udupi in Karnataka for more than Rs 60 bn,
marking the biggest acquisition in India's thermal power industry. (ET)
 Financial Technologies India Ltd (FTIL) failed to get interim relief
from a 17 December order by the Forward Markets Commission (FMC)
declaring it unfit to run exchanges, in the wake of Rs.55.74 bn payment
crisis at National Spot Exchange Ltd (NSEL). FTIL holds 99.9% stake in
NSEL. (Mint)
 State-owned GAIL (India) Ltd's drastic cut in natural gas supplies to
small industries in south Gujarat has led to few gas units like Piramal Glass
shutting down part of their operations.(Mint)
 Energy and environment solutions provider Thermax said it has bagged a
contract worth Rs 3.21 bn for setting up a captive power plant in Africa.
(ET)
 Jaguar Land Rover opened its first engine manufacturing plant, under
Tata ownership. The £500-million project will help increase the
automaker's competitiveness, giving it more flexibility to respond to
market needs and future technologies. (BL)