WOCKHARDT: Pharmaceutical firm Wockhardt and Development Bank of
Singapore Ltd have agreed on an out-of-court settlement of a dispute over loan
amounting to 440 mln rupees. The pharmaceutical major has a debt of over 37
bln rupees and has hived off some of its non-core business to pay off debt.
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SBI EXPANSION: State Bank of India will open 23 new branches overseas in
the next four months. This will take the total number of branches of the bank
in foreign countries to 160 by March, from 137 at present. The bank derives
around 12% of its total revenue from overseas business
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OIL FIND: The Oil and Natural Gas Corp has found new oil reserve in
Gujarat which could increase the company's total onshore oil production by
about 20%. The new reserve in Mehsana is likely to produce about 20,000
barrels of oil per day.
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TATA REJECTS: Tata Group has rejected a 10 mln pound sterling (767 mln
rupees) loan offered by the UK government to develop electric cars at the
group's European technical centre. The loan was part of automotive assistance
plan announced last month by the UK government.
AUTO : Carmakers are gearing up for a two-phase price hike after
almost a year on the backdrop of rising input costs and the need to switch to
stricter emission norms. Prices of popular cars, such as Mahindra Scorpio,
Maruti Swift and Honda Civic are likely to go up by 10,000-20,000 rupees.
* CIPLA: Gets US Food and Drug Administration's approval for its generic
version of Kaletra, or lopinavir/ritonavir, tablets.
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* GMR INFRASTRUCTURE: In talks with 3i Investments, Macquarie-SBI
Infrastructure to raise $450 mln for GMR Airport Holdings.
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* GREAT OFFSHORE: ABG Shipyard, Bharati Shipyard open offers for Great
Offshore on Dec 3-22..
* HINDUSTAN MOTORS: Sales of Hindustan Motors Ltd's iconic Ambassador cars
for use as taxis have risen 10-fold over one year driven by demand to replace
taxis that are old 15 years and more in West Bengal as directed by the
Kolkata High Court
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* LARSEN & TOUBRO: Not worried over Dubai exposure of $20 mln-$25 mln. Company and state-owned Nuclear Power Corp to form a 20-bln-rupee joint
venture for making forgings.
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* LG BALAKRISHNAN & BROS: Approves setting up 100% arm in China.
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* MAHANAGAR TELEPHONE NIGAM: Qualifies to place financial bid for Oman
unified services licence.
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* OIL & NATURAL GAS CORP: Has found traces of a new oil reserve in Gujarat
which could increase the company's total onshore oil production by about 20%.
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* RANBAXY LABORATORIES: Gets US Food and Drug Administration's nod for the
generic version of acetaminophen extended release tablets.
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* RELIANCE COMMUNICATIONS: Brings down tariff for SMS service by launching a new add-on plan priced at 1 paisa per SMS that can be subscribed to by
purchasing a voucher of 11 rupees a month.
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* SPAN DIAGNOSTICS: Receives order worth 229.6 mln rupees.
* TATA MOTORS: Jul-Sep consolidated net turn's positive; JLR posts operating
gains. Tata Nano's component suppliers are under pressure with TATA MOTORS not
compensating them for moving facilities from Singur to Sanand and the slow
speed at which production is being ramped up at the Pantnagar facility.
Levels....MARUTI 1578-1590...Support 1554...SUZLON > 76.50 78 Support at 73
DHANLAKSHI BANK::: +VE Reserve Bank
of India, has conveyed their no objection in raising FIIs, NRIs percentage
holding in the Bank to 49 percent and 24 percent respectively, which had been
approved by the shareholders
