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* ECONOMY : Govt indicates that it prefers RBI to refrain fm hiking key policy

 rates at this juncture, despite rising inflation.. Govt also pitches for

 continuing with fiscal stimuli for atleast two more quarters, indicating the

 forthcoming Budget is unlikely to reverse the cuts in excise duty/service tax

* RIL : SEBI to consider appropriate action against co for allegedly routing

 funds to dummy cos for buying large quantity of its own shares in 2000

* HDFC : plans to disburse Rs30bn over the next two months under its spl.loan

 scheme launched early this month

* REAL ESTATE : HDFC V.Chmn says home loan interest rates are unlikely to move

 up even if RBI hikes the cash reserve ratio as there is ample liquidity

* L&T : President (Operations) cos sales wud grow at 14-15% in FY10 & op.margin

 wud increase to 14% by Mar 10

* NTPC : proposes to build a power project in Ghana in retrn for liquified

 natural gas

* AXIS BANK : puts overseas bond issue on hold as it waits for spreads to

 narrow before it raises funds

* DR REDDY's : plans to launch generic version of Lipitor which has annual

 sales of >$12bnin US mkts in next 2-3 yrs

* BHARATI SHIPYARD : to consider another open offer for 20% more @ Rs 590/share

 to acquire mgt control of Great Offshore

* WELSPUN GRP: merging 3 promoter owned investment cos into Welspun investments

 to unlock value and help raise funds

* NIIT : has deferred its plans to raise Rs2.3bn thru QIP

* INDUS IND BANK : says it has presented a roadmap to RBI on bringing down the

 promoter stake to 10% over the next 2-3 years

* PBA INFRA : bags order worth Rs 1.45bn from Oriental Structures Engineers

* INDIABULLS FIN : ends JV with Societe Generale for Life Insurance

* ONGC : declares Rs 18/shr mid yr dividend

Corporate News – Industry trends

* Even as the government has yet to grapple with the problem of

runaway food prices, investors in food stocks are laughing their way

to the bank. The returns — 150-340% since April 2009 — from most of

these companies has outperformed the broader indices, indicating

increased investor interest (BS)

* Market regulator SEBI has asked the government to consider

appropriate action against Reliance Industries for allegedly routing

funds to dummy companies for buying large quantity of its shares (BS)

* A few months ago, labour unions at JLR facilities defied attempts

towards restructuring of pension or cutting pay of new hires. However,

Tata Motors, owner of the two luxury brands, has reiterated its

intention to do so by having employees accepting lower benefits, and

new hires will join a defined contribution pension scheme (BS)

* System integration company Teracom said it had bagged Rs 400

mn order from state-run telecom operator BSNL for supplying 3G data

cards. 3G data cards would help users in video streaming applications

like Live TV, movie downloads and high speed data download on

mobile phones (BS)

* Drug maker Dr Reddy’s Laboratories plans to launch generic version

of the world’s largest selling anti-cholesterol medicine ‘Lipitor’ in the

US market in the next 2-3 years (BS)

* Bharati plans second open offer for 20% more in Great Offshore,

move to be the first for India’s capital market, co. to offer Rs

590/share (ET)

* Realty major DLF has decided to bring all of its rental properties under

a single umbrella, as part of business restructuring, to optimise the

value of its various realty verticals (BS)

* LEADING component makers are cautious about committing huge

investments for capacity expansions in the face of growing uncertainty

over Euro IV emission norms and a possible hike in excise duty on

cars (ET)

* NTPC has proposed a power plant in Ghana and wants 2.5 mn tonne

per annum of Liquified Natural Gas for 25 years (Mint)

* Societe Generale, France’s second largest lender and Indiabulls

Financial Services have decided to sever ties for setting up a life

insurance JV in India (FE)

* Aditya Birla Group plans to revive its back office business Aditya

Birla Minacs by infusing fresh capital and becoming profitable through

cost-cutting initiatives, apart from winning new projects both from

within and outside the group. (ET)

* Tata Motors, is developing an entirely new range of buses along with

partner Marcopolo that will cater to both inter and intra-city transport

(DNA)

Economic/Regulatory development

* The services sector remains the favourite destination for foreign

investors as the country attracted US$2.62 bn FDI in the segment in

the first six months of 2009-10 (BS)

* Exchange-traded currency derivatives, which made a hesitant

beginning in the second half of 2008, are gaining currency, giving the

over-the-counter (OTC) market for foreign exchange a run for its

money (BL)

International trends

* The US Senate is poised on Monday to take an early morning vote

that will lead toward passage of the most sweeping overhaul of the

nation’s health-care system in more than four decades (BS)

* Hyundai Motor Co, South Korea’s largest automaker, plans to form a

US$400 mn venture with Baotou Bei Ben Heavy-Duty Truck Co in

China next year to expand in the country set to become the world’s

biggest auto market (BS)

* Royal Dutch Shell, Europe’s largest oil company, is planning to sell

oilfields in Nigeria valued at up to US$5 bn, the Sunday Times

reported, citing sources linked to companies interested in the assets

(BS)

* UAE-based Etisalat has acquired a majority stake in its Indian

venture Etisalat DB Telecom by buying a 5.27% stake from Genex

Exim Ventures for about Rs 3.8 bn (ET)