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Saturday, March 14, 2009

Business India - Latest Buzz In Indian Stocks

Have a look at the latest buzz in some of the big companies in Indian stock markets.

• Reliance Industries is likely to begin gas production from the KG basin by mid-April, about a month after the previous deadline of mid-March. (BS)

• BHEL may team up with Bharat Forge and Areva, France, for its proposed nuclear forging business. (ET)

• Power ministry backs NTPC to expedite the delivery of fuel. (ET)

• Tata Communication has dropped its proposed rights issue of Rs10bn, but plans US$400-500m capex in the next financial year. (FE)

• Tata Motors JLR will be getting about GBP27m from UK government for production of a new ‘green car’ model. (ET)

• Sanjay Kapoor, president of Bharti Airtel’s mobile division, is now deputy CEO of the company. (ET)

• Wipro Infotech along with Middle East arm of Wipro bagged an IT outsourcing contract from ESIC worth Rs12bn. (ET)

• Allcargo Global Logistics has acquired 5.97% stake in Gateway Distriparks Ltd. (FE)

• Tech Mahindra, L&T and Spice Group are in the final list of bidders for Satyam. (ET)

• Dish TV may break even before targeted date. (BS)

• ICICI Ventures hints at corporate governance lapses by Subhiksha MD.(ET)

• National Environment Appellate Authority has dismissed an appeal against the implementation of Reliance Power’s 4,000MW power project at
Shahpur. (ET)

• Cochin Port Trust signed a concession agreement with Petronet LNG for transfer of 33.4hectares on a 30 years lease in port based SEZ for setting up an LNG terminal and a re-gassification plant. (ET)

• Aircel plans to invest Rs10bn in Andhra Pradesh by December ’09. (FE)

• Wockhardt promoters plan to sell property and put company’s marketing division on the block to repay loans. (Mint)

• TVS Motor targets 36% increase in sales with the launch of TVS Scooty Streak. (BS)

• TVS Motor converted a Rs185m loan it gave to its wholly-owned subsidiary, Sundaram Auto Components Ltd, last year, into equity. (BL)

• Nagarjuna Construction Company secured three new orders aggregating Rs2.6bn. (BL)

• Piramal Healthcare Ltd plans to sell its pharma solutions division, and is looking at acquiring brands in the female healthcare and osteoporosis area.
(BL)

• Reliance-ADAG is acquiring 51% stake in UK based currency exchange and money transfer firm No1 Currency for ~Rs1bn. (ET)

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