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Wednesday, November 11, 2009
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ANNOUNCEMENTS: RIL strikes oil in Cambay Basin
First on-land discovery in the block; commercial viability being assessed. Mumbai/ Ahmedabad, Nov. 10 Reliance Industries on Tuesday announced the discovery of oil in one of the onshore blocks in the Cambay Basin in ...

CORPORATE DISPUTES: Can’t wait for RNRL plant to come up to sell gas: RIL
New Delhi, Nov. 10 Reliance Industries Ltd (RIL) said it has no legal right to wait for the power plant of Reliance Natural Resources Ltd (RNRL) to come up and then sell gas from the KG Basin D6 block as it was not permissible under ...

OUTLOOK: Steel prices may stabilise at current low levels
SAIL targeting 8-10% growth this fiscal: Roongta. New Delhi, Nov. 10 Steel prices are likely to remain stable at ...

ANNOUNCEMENTS: NTPC units shut down on coal shortage
MMTC import tender process delayed. New Delhi, Nov. 10 Operations at two units each of power major NTPC Ltd’s 1,600-MW Farakka and the 2,340-MW Kahalgaon stations have ground to a halt due to an acute coal shortage, hitting the Eastern ...

OUTLOOK: Renault-Bajaj small-car will cost lower than any other made in India
To be launched in 2012, vehicle to wear Nissan-Renault badge. New Delhi, Nov. 10 Ending all speculation on the specifics of the ultra low-cost (ULC) small car and differences between the partners, Renault-Nissan announced on Tuesday that it has ...

OVERSEAS INVESTMENTS: OMEL defers exploration in Nigeria to December end
New Delhi, Nov. 10 ONGC-Mittal Energy Ltd (OMEL) has pushed back its plans to start the first phase of hydrocarbon exploration in Nigerian block OPL-279 due to technical ...

ALLIANCES & JOINT VENTURES: Titan Energy, Enfinity tie up for solar power project in AP
Hyderabad, Nov. 10 Titan Energy Systems and Enfinity, based in Waregem Belgium, have joined hands to establish a 1 Giga Watt Power (GWp) or 1000 MW of solar Photovoltaic (PV) installations in ...

MERGERS & ACQUISITIONS: Rallis now Tata Chem subsdiary
Tata Chemicals has invested Rs 89 crore to acquire 9.80 lakh equity shares of Rallis India. The shares were allotted on a preferential basis at Rs 908.51, Rallis India said in a statement to BSE on Tuesday. With the allotment, Tata Chemicals ...

OUTLOOK: Advik to make oil pumps for 4-wheelers
The Advik group of companies, a manufacturer of components for two-wheelers, is foraying into oil pumps for four-wheelers in technical collaboration with Trochocentric GmbH, and has formed Advik Precision Pvt Ltd for ...

OUTLOOK: Petronet likely to award LNG jetty contract next month
Kolkata, Nov. 10Petronet LNG Ltd expects to award contracts for the second LNG jetty at Dahej in Gujarat next ...

CORPORATE DISPUTES: Govt stand in gas row is dishonest and collusive: RNRL
RNRL filed an additional affidavit in the Supreme Court on Tuesday alleging that the Government’s stand in the case was “dishonest ...

OUTLOOK: Volvo-Eicher semi low-floor buses to hit the roads next year
New Delhi, Nov. 10 Volvo-Eicher Commercial Vehicles (VECV) said on Tuesday that it plans to roll out its semi low-floor buses by the second half of next ...

ALLIANCES & JOINT VENTURES: NMDC, AP body to enter mining pact
Hyderabad, Nov. 10 The Andhra Pradesh Mineral Development Corporation and the National Mineral Development Corporation (NMDC) are all set to enter into an MoU by this month-end for exploration of iron ore in Kadapa, Kurnool, Chittoor ...

PERFORMANCE: Highest ever monthly sales in Oct, says Volkswagen India chief
New Delhi, Nov. 10 Volkswagen India said on Tuesday that sales in October have shown a 38 per cent growth over the same month last ...


Columnists: C Gopinath Harish Bijoor Ramanujam Sridhar Radhika Chada K Srikrishna




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Markets (Nov 10)
Nifty (at close)4,881.70 (-16.60)
US Dollar (Buy/Sell)46.50/51
Brent crude (a bbl) Rs3,597
Gold (a gram) Rs1,568
Silver (a kg) Rs28,500

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