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Reliance Industries (RIL IN) has restarted its crude distillation unit one and coker unit
at the Jamnagar Refinery complex. The two units were under planned shutdown for
carrying out maintenance activities from last week of October 2010. (BSTD-Sat)
The Government maintains that state-owned Oil & Natural Gas Corp (ONGC IN) has
the right of first refusal in the USD 9.6 bn Cairn-Vedanta deal buy it will not allow the
company to exercise this right as the price is very high. (ECNT)
IOC (IOCL IN) said it would invest about USD 200 mn to pick up a 26% stake in
Nuclear Power Corporation's 1,400 Mw atomic power project at Kota in Rajasthan.
IOC may launch FPO in January end. (BSTD-Sat)
Competition watchdog Competition Commission of India (CCI) has imposed a find of
USD 220k on Kingfisher Airlines for not furnishing information it sought during the
investigation into the carrier's proposed strategic agreement with another private
player Jet Airways (JET IN). (ECNT)
Tata Power (TPWR IN) that aims to produce at least 25% of its total power
generation from clean sources by 2017, will invest around USD 1 bn in wind energy
alone. (ECNT)
ICICI Bank (ICICIBC IN) expects 18% credit growth in 2010-11. (FNLE)
Sun Pharmaceuticals Industries (SUNP IN) has been stopped from launching the
generic version of a schizophrenia drug that had generated revenue if USD 4 bn in
the United States market in 2009. (BSTD)
Emami (HMN IN) is in talks to acquire a personal care company in Africa. (BSTD)
S Kumars Nationwide Ltd (SKNL IN) is undertaking a re-positioning exercise for its
apparel brands, including Reid & Taylor and Belmonte. (BSTD)
Dr Reddy's (DRRD IN) gets FDA nod to launch Zafirlukast in US. The drug has total US
sales of USD 50 mn. (BSTD-Sun)
Vedanta Resources sealed a USD 6 bn financial deal with a consortium of banks to
help fund its acquisition of a majority stake in the Indian unit of Cairn Energy.
(BSTD-Sat)
Essar Shipping, Ports & Logistics Ltd (ESRS IN) will be investing around USD 1.2 bn in
capacity building in Ports and shipping activity. (THBL)
Tilaknagar Ind (TLNGR IN) takes QIP route to raise USD 30 mn. (ECNT)
Spice mobility (SPCEM IN) to mop up USD 133 mn. Co to raise fund through sale of
35 mn treasury stock to Institutions. (ECNT)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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