Stock News

Monday, November 9, 2009

* APOLLO TYRES: To soon raise product prices due to increased rubber cost.
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* BAJAJ HINDUSTHAN: In talks with STATE BANK OF INDIA and ICICI BANK for a 15-20- bln-rupee loan to acquire BALRAMPUR CHINI MILLS. May also raise around
2 bln rupees through issue of non-convertible debentures.

EDUCOMP- BATA:Bata India’s joint-venture, Riverbank Developers, is in talks with the Educomp Group for setting up an "international-quality" school.
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* DR REDDY'S: Has developed generic version of Pfizer's
cholesterol-lowering drug Lipitor, the world's largest selling drug
with sales of over $10 bln.
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* HINDUSTAN CONSTRUCTION: Looks to add new orders worth around 50 bln rupees by March, mainly from power, roads and water sectors.
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* INDAGE VINTNERS  (-ve): The west Bengal sales tax department seizes the company's bank accounts for alleged non-payment of dues.
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* LARSEN & TOUBRO: Plans to sell part of its 17% stake in Bangalore
International Airport to its partners at 108 rupees a share.
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* ONGC: May be allowed to sell gas from its C-series
field at $4.75 mBtu.
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* RELIANCE INDUSTRIES: May acquire part of the assets of petrochemical major
LyondellBasell.
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* TATA STEEL: Gets land in Vietnam for building a 4.5 mln per year steel
plant with an investment of $5 bln.
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* UNITED SPIRITS  (+VE): Reserve Bank of India allows foreign institutional investors
to buy up to 59% in the company.

 Marginally +ve:Mahindra Satyam has lifted its hiring freeze and is set to hire 120 employees in the next one month.  It has also called back 1,400 of its 6,000 employees who are on the bench

 + VE Satyam:Upaid issue to be settled before Jan hearing: