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Corporate Front Page:
- Reliance Industries plans to boost gasoline and diesel exports after restarting units shut for maintenance. (ET)
- The Income Tax department surveyed premises of GlaxoSmithKline, Piramal Healthcare and Wockhardt. (ET)
- Environment Ministry has issued show-cause notices to Lavasa Corporation and Jindal Steel and Power for flouting green norms in their projects. (BL)
- Coal India is likely to withdraw from talks to acquire a mine from Massey Energy. (ET)
- ONGC and OIL India have joined hands with BPCL and IOC respectively to enter the gas distribution business in cities. (ET)
- Aditya Birla Minerals, a 51% subsidiary of Hindalco has started a process to revive the Mount Gordon copper mine in Queensland, Australia. (BL)
- BHEL may offer a minority stake to a 3rd partner in the JV with SAIL. (ET)
- HDFC chalks out a major foray into education. (BS)
- M&M to acquire British Telecom’s 5.5% stake in Tech Mahindra for around US$94mn. (ET)
- Six to seven companies are likely to bid for Power Grid’s tender to lease out its tower infrastructure. (BS)
- Suzlon Energy’s overseas subsidiary, REpower Systems has received an order from Belgium based C-Power to install wind energy turbines aggregating 295MW for Thornton Bank. (BL)
- A deal between Bhushan Steel and Japan’s Sumitomo Metals has got stuck due to differences over valuation. (BS)
- Bajaj Auto, KTM and Kawasaki of Japan plan to form a global alliance. (BS)
- Shipping Corp FPO price band fixed at Rs135-140/share. (BL)
- GVK Power & Infrastructure, through its wholly owned subsidiary, has announced that it has emerged the successful bidder for the six-lane tollway road project in Gujarat. (BL)
- Claris Lifescience’s reduces the Initial Public offer price by 20% and extends it by three working days. (ET)
- The IPO of MOIL was subscribed 76% on the first day of bidding. (ET)
- NTT Data Corp. has resumed talks to acquire promoter’s stake in Patni Computers. (ET)
- Bhushan Power & Steel sets sights on global listing to raise US$700mn. (ET)
- Huaneng Power seals a deal to buy 50% stake in Intergen owned by the GMR Group. (BS)
- GVK and Lanco Infra are the biggest bidders for Australia’s Griffin Coal. (BS)
- Videocon Industries along with Bharat PetroResources, a subsidiary of BPCL have discovered gas in the Lagosta well in Mozambique. (ET)
- Steel Stripes & Wheels in advance talks with Korean company to sell 4-5% for around US$10mn. (ET)
- Star India Holdings, part of News Corp, has increased its stake in Tata Sky-its DTH JV with the Tatas-to 30% from 20% recently. (BL)
Economy Front Page:
- Foreign exchange reserves drop by US$330mn to US$298bn in the week ended November 19. (BL)
- India's crude oil output rose 13.7% to 3.3mn tonnes in October 2010. (BL)
- The RBI mulls capping banks investments in debt schemes of Mutual Funds. (ET)
- Steel prices are likely to increase by Rs1000-2000 per ton in the next three to four months. (BS)
- GDP growth for FY10 and Q1 FY11 will be revised upwards following the up-gradation of the WPI index. (ET)
- Government agencies import urea at higher prices this fiscal. (BL)
- DoT may penalize new telecom companies for lapses in network rollout. (ET)
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