USA ecnomic calander

Continuing Jobless Claims (Jul 19) 3282K vs 3155K

Initial Jobless Claims (Jul 26) 448K vs 390

Gross Domestic Purchases Price Index (2Q) Preliminary Release 4.2% vs 3.5%

Personal Consumption Expenditure (QoQ) (2Q) Preliminary Release 1.5% vs 1.4%

Chicago Purchasing Managers' Index (Jul) 50.08 vs 49.6

U.S. July Chicago PMI prices paid 90.7, 28-year high

U.S. weekly initial jobless claims up 44,000 to 448,000

U.S. second-quarter GDP rises 1.9% vs. 2.3% expected

U.S. Q2 inflation rate ticks up to 4.2%

Tata Group on July 31, 2008 (Thursday) has given up its ambitious USD 3 billion investment plans in Bangladesh that included a steel mill and power plant as of no prospects in the country further.

IVRCL Infrastructures & Projects (IVRCL) bagged order worth Rs 3.58 billion from the Irrigation & CAD department of Andhra Pradesh.

Infosys Technologies, India`s second biggest software exporter, launched ShoppingTrip360 to help retailers and consumer packaged goods (CPG) companies achieve visibility into in-store activity. ShoppingTrip360 is a platform that enables a suite of managed-information services to create a 360-degree view of real-time in-store shopper and shelf activity.


Sintex Industries, a market leader in the plastic and textiles segment, today announced that through its wholly owned subsidiary Sintex Holdings B.V., Netherlands, acquired 90% stake in holding assets of Geiger Technik GmbH (Garmisch-Partenkirchen, Germany) for Euro 35 million. Geiger family will continue to hold 10%. This acquisition will assist the company to further enhance its presence in the European Market


French auto major Renault has invited Bajaj Auto to pick up stake in Renault Nissan Automotive India (RNAIL), which is setting up a USD 1 billion greenfield plant in Chennai, reports Economic Times.

ONGC Videsh (OVL), the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is at an advanced stage of takeover talks with London-listed Imperial Energy and may make a price offer soon,

The government is considering selling stake in Axis Bank through Qualified Institutional Placement (QIP),The government is planning to sell over 21% of Axis Bank`s equity held on behalf of the government by the SUUTI to a broad-based set of investors.

Civil contractor Unity Infraprojects bagged a contract worth Rs 920 million from Flagship Infrastructure (P)

Dr Reddy`s acquires stake in Perlecan Pharma

Dr Reddy`s acquires stake in Perlecan Pharma

Welspun Gujarat, the second largest line pipe manufacturer in the world, today announced that Genesis Asset Managers, a specialist investment manager in emerging markets, has acquired over 5% of the company`s equity share capital.

Hindustan Construction Company (HCC) announced that the company along with SEW Infrastructure and Megha Engineering & Infrastructure bagged a contract worth Rs 6.39 billion for construction of barrage of around 3.5 km with head regulator across river Pranahita (PCLIS - Package-III) in Adilabad district of Andhra Pradesh, from Government of Andhra Pradesh, Irrigation and CAD Department.


Gateway Distriparks announces buyback at Rs 110 a share.The company announced the buy-back of its fully paid-up equity shares of the face value of Rs 10 each from the existing owners of equity shares at a price not exceeding Rs 110 a equity share, for an aggregate amount not exceeding Rs 640 million. The buyback offer opens Aug. 04, 2008 and closes on Jan. 24, 2009.

ABB India bagged Rs 4.55 billion smelter order form Vedanta Aluminium to provide automation and power products, systems and solution for expansion of their aluminum smelter plant at Jharsuguda in Orissa.


Rolta, one of India`s leading IT companies, today announced the signing of an agreement to acquire WhittmanHart Consulting, the consulting division of WhittmanHart, a premier Chicago based company providing value driven solutions in digital communications, process improvement, and enabling technologies, for over 20 years.

Bank of Baroda will form two joint ventures (JVs) with Italy and UK based companies for undertaking the business of mutual fund and life insurance

Rolta is close to acquiring a Chicago-based software firm and the deal size is expected to be around USD 40-50 million

The Reserve Bank of India (RBI) has increased the CRR (Cash Reserve Ratio) by 25 bps and Repo rate (the rate at which the central bank lends money to other banks), by 50 bps.

Emami, a major FMCG player, is planning to foray into the retail segment of edible oils by March next year as it aims to be a top player within two to five years,

Taro rejection of Sun Pharma bid

Taro Pharmaceutical Industries Ltd., Haifa, Israel, drugmaker, estimated that second-quarter net income rose 73% on 13% higher revenue, and it reiterated its rejection of Sun Pharmaceutical Industries Ltd.'s $7.75-a-share tender offer for the company. In a letter to shareholders released on Monday, Taro estimated net at $13 million against $7.5 million in the year-earlier quarter. It pegged sales at $88.1 million, compared with $78 million. The estimates are based on the best currently available data, Taro said, since it's still working with its auditors to complete its financial statements for 2006 and 2007. The 2006 review must answer "questions concerning estimates of accruals for sales returns, chargebacks, rebates, and administrative items recorded in 2005 and prior years," Taro said. And the company noted that its stock is near its 52-week high and is trading above Sun's offer price. The company said it awaits a ruling by a court in Tel Aviv on its claim that the Indian company's tender offer is illegal under Israeli law.

ICRA, a leading credit rating agency and ING Vysya Bank signed a Memorandum of Understanding (MoU) under which ICRA will assign bank loan ratings to the Bank`s borrowers under the standardized approach of RBI`s new capital adequacy framework for Basel-II.


India has signed an agreement along with seven other countries US to carry out lunar exploration


Ansal Properties & Infrastucture a leading real estate developer has received a formal approval from the Department of Commerce (SEZs). Goverment of India to develop an Engineering-based Special Economic zone (SEZ). The SEZ, spread over 250 acres, is coming up on the Amritsar-New Delhi Grand Trunk Road. A separate subsidiary Ansal Kamdhenu Engineering SEZ has been set up especially for the project.


The Steel Authority of India (SAIL) plans to set up a steel processing unit at a cost of Rs 2.5 billion at Guddha in Rajasthan`s Jhunjhunu district,


Shreyas Shipping & Logistics has sold its vessel `MV OEL Strength` for consideration of USD 7.675 million on Jul. 28, 2008.

BSNL is planning a new strategy to fortune its CDMA-based mobile connections along with handsets.

Patni Computer Systems today announced the launch of its first Green IT-BPO knowledge centre.

Ranbaxy Pharmaceuticals, a wholly owned subsidiary of Ranbaxy Laboratories, India, on July 28, 2008 announced that under an agreement with AstraZeneca Pharmaceuticals it has launched an authorized generic of Omeprazole 40 mg Capsules in the United States.

Emmsons International has signed a shareholders agreement for the joint venture in mining and marketing of coal with ETA Star International LLC, Dubai. The agreement is for setting up three joint venture companies.

Nucleus Software Exports, a leading global provider of integrated software products for banks and financial institutions, on July 28, 2008 announced that it has secured a landmark deal with Prudential Finance consumer finance business in Vietnam. This marks Nucleus Software`s entry into Vietnam.

Great Offshore bagged a Rs 2.34 billion engineering services contract from ONGC. The contract is scheduled to be completed by middle of 2010.

NTPC plans to enter into nuclear power generation by setting up a 2,000 megawatt (mw) project,

Bharat Electronics (BEL) is planning to enter into solar energy space through a tie-up with Bharat Heavy Electricals (BHEL),

Reliance Infrastructure is planning to set up a Rs 120 billion power equipment plant in a joint venture with Chinese firm Shanghai Electric Corporation,

Pantaloon Retail boards approves 1:10 bonus issue

Indian Railways has invited global tenders for joint ventures (JVs) with private companies to manufacture locomotives and passenger coaches to identify suitable partners for its ventures.

Gujarat Alkaslies and Chemicals (GACL) has formed a joint venture with Dow Chemicals for setting up a Rs 6 billion plant at Dahej


Rolta India will acquire a US-based company that specializes in business intelligence so as to increase its enterprise information & communication technology business,

The government approved the merger of State Bank of Saurashtra with the State Bank of India,

Oil and Natural Gas Corporation (ONGC) plans to enter into uranium mining in alliance with public-sector Uranium Corporation of India (UCI)


Gitanjali Gems has informed that in continuance to the company`s policy towards strategic acquisition, it has acquired `B Vijay Retail Ventures` (BVRVPL) through its wholly owned subsidiary Gitanjali Lifestyle.


GAIL (India) and Bharat Petroleum Corporation (BPCL) signed a memorandum of understanding (MoU) yesterday for cooperation in the areas of natural gas - transmission and distribution, LPG pipeline, city gas projects, exploration & production, use and marketing of Naphtha, infrastructure projects and technology & knowledge sharing.

Cranes Software International through its subsidiary Systat Software has entered into an agreement to acquire Germany-based Cubeware.


Govt. moves forward on signing Indo-US nuclear deal

Bliss GVS Pharma company announced plans for declaration of bonus shares.

TAIB Bank, a leading private bank based in Bahrain, has acquired 26% stake in Anant Raj Industries arm Anant Raj Projects for Rs 2.16 billion, The deal values the subsidiary of New Delhi-firm at Rs 8.31 billion.

Bank of India opens first branch in Tanzania

Ramco Systems will raise Rs 1.73 billion through issue of shares on rights basis to its shareholders.


Tata Power plans to set up a unit for generating 1,000 MW of renewable energy from both solar and wind, in Gujarat,


India`s largest specialty nutrient manufacturing company, Aries Agro has signed an agreement with Yara Asia Pte, the world`s largest soluble fertilizer company to markets its world class specialty micro-nutrient products for crops in India exclusively.

BSNL IPO

The government has initiated steps to put state-owned telecom major BSNL`s proposed USD 10 billion listing back on track

The company is expecting to raise Rs 40 billion by selling a 10% stake. This would value the telco at approximately around USD 100 billion.

Bharti Airtel is having valuation of USD 37 billion

Diamond Cables has received an order aggregating USD 37 million from one of the leading power utilities in Africa, to supply transformers, cables, conductors and other electrical products.


Educomp Solutions announced the acquisition of a strategic stake in A-Plus Education Solutions. Educomp will invest Rs 107.5 million over the next two years to acquire a 76% stake in the company.

Indraprastha Gas (IGL) will set up a joint venture (JV) company along with Siti Energy to undertake the City Gas Distribution project in Haryana,

NIIT Technologies is looking for acquiring companies in the travel and insurance space, so as to expand its revenue base

Reliance Petroleum (RPL) on Tuesday (July 22) said that it would commission its refinery ahead of schedule. The company said that nearly 94% of the project has been completed.

Info Edge India is all set to buy 40% stake in the New Delhi-based education content developer Applect Learning Systems for Rs 65 million.

Unitech planning to enter into the business of general insurance,

Birla Leasing & Infra is now `Birla Capital and Financial Services`

Skyline Millars will be held on Jul. 29, 2008, to consider sub-division of the face value of equity shares of Rs 10 each into face value of Re 1,

US Oil co. files for bankruptcy

The US physical oil trader company, SemGroup has filed for bankruptcy, reports agency sources. The company filed for bankruptcy as it reported trading losses of over USD 3.2 billion in different energy markets after betting that crude oil prices would fall this year.

Traders sold oil futures as news emerged that tropical storm Dolly will miss oil and natural gas installations in the US Gulf of Mexico.

Marked as the fourteenth largest of US private held company, SemGroup bankruptcy will affect approximately USD 3.1 billion of debt. Oil company BP was the largest creditor, accounting for around USD 160 million.

Ranbaxy Laboratories announced the Day-1 launch of its first independently developed generic product; Amlodipine tablets 2.5mg & 5mg in Japan.

Polar Industries terminated the distributionship agreement with Asia Pacific Brands India (APBIL) from Jul. 21, 2008.

TATA Motors is positive about Fiat SpA `s help to sell the ultra-cheap Nano model overseas

Onco Therapies (OTL), the joint venture between Strides Acrolab and Aspen Pharmacare Holdings today concluded a licensing pact with leading multinational pharmaceutical corporation, Glaxo SmithKline (GSK)

Ahluwalia Contracts (India) is planning to acquire 100% stake in five private limited companies.

Valecha Engineering bagged two new projects worth Rs 1.33 billion, approximately.The first order is for a road project at Indore worth Rs 980 million approximately.The second project is for bridge project at Delhi worth Rs 350 million approximately to be executed in 18-24 months


J Kumar Infraprojects bags orders worth Rs 530 mn he first order, valued at Rs 200 million is from Mumbai Metropolitan Region Development Authority (MMRDA) for construction of `sky walk`. The second order, valued at Rs 330 million is from Planning Cell, Engineering Services & Project Building for Augmentation of SWD system of Kharoo Creek Nalla.


JP Morgan Chase will buy 33% stake in an SPV of the realty firm Alok Infrastructure, a wholly-owned subsidiary of the Mumbai-based Alok Industries.

Nu Tek India IPO opens on July 29

Nu Tek India, a telecom infrastructure services provider offering infrastructure rollout solutions for both mobile and fixed telecommunication networks, will enter the capital market on July 29, 2008, with an initial public offering (``IPO``) of 4,500,000 equity shares of Rs 10 each The price band has been fixed between Rs 170 and Rs 192 per equity share

The total approximate earnings of Indian Railways on originating basis during April 1 to June 30, 2008 were Rs 195.49 billion compared to Rs 165.61 billion during the same period last year, registering an increase of 18.04%.


The prices of petroleum products in Pakistan have been increased by 10 to 18% with an immediate effect. This is the highest ever increase in the prices of almost all petroleum products

Housing Development and Infrastructure (HDIL) floated a subsidiary that will take care of its oil and gas exploration business The subsidiary, HDIL Oil & Gas (P), was incorporated on Mar. 08, 2008 and the parent holds a 51% stake in it.
It is learnt that the remaining 49% stake in the oil & gas exploration firm is with an international firm. HDIL Oil & Gas will bid for 10 blocks under the New Exploration and Licensing Policy (Nelp) VII round.


Dr Reddy`s Laboratories has decided to buy back the shares of Perlecan Pharma (P), its demerged arm, for USD 18 million from ICICI Ventures and Citigroup

California-based Cymbiotics has signed an in-licensing deal with Elder Pharmaceuticals to market six of its patented products in India,

ONGC Videsh, the overseas arm of the state-owned ONGC, will bid for oil blocks in Ecuador jointly with PetroEcuador, its counterpart in the foreign country,

Bank of Baroda (BoB) is planning to open 10 new overseas branches across the globe and has already made the necessary applications to the RBI

Uco Bank has started talking to institutional investors afresh for raising Rs 3.25 billion through a preferential allotment of equity shares by September,

Era Infra Engineering, a medium-sized construction company, has bagged a contract for construction of buildings and associated works at Manesar by National Automotive Testing and R&D Infrastructure Project (NATRIP) valuing Rs 309.8 million.


Greycells Entertainment, that operates EMDI vocational institutes in India and middle-east, announced its acquisition of 26% stake in another Media and Entertainment vocational education company;


A meeting of the board of directors of HEG will be held on Jul. 31, 2008 to mull over the buyback of equity shares.

Indian power stocks gained on Monday on expectation the government will go ahead with nuclear deal and the controversy over nuclear deal may end soon.

Ranbaxy Lab. wins UK SFO Case

Ranbaxy Laboratories (Ranbaxy) made public that the UK Serious Fraud Offices (SFO) prosecution of its UK subsidiary, Ranbaxy (UK) (RUKL), has been quashed by the English Crown Court.

The court also declined an application by the SFO for permission to appeal to the English Court of Appeal, although the SFO retains a right to appeal to the Court of Appeal directly.

Ranbaxy welcomes the decision of the English Crown Court. the company avouched itself as a responsible company committed to providing high quality generic medicines at affordable prices to its customers and patients throughout the world.

Gujarat NRE Coke announced ssue of bonus shares subject to the approval of members, at the rate of 2 shares for every 5 shares held at the record date to be fixed by the board.


Hatsun Agro Product at its meeting held on Jul. 18, 2008, have decided in principle to open a wholly owned subsidiary company in Dubai to maximize business opportunities in dairy products.

Ranbaxy Laboratories said that a multinational player was trying to derail its deal with Japanese drug major Daiichi Sankyo and said the talks of a probe into approvals for its drugs by American authorities was part of a `larger game.`

Punj Lloyd has received an order from Tecnicas Reunidas, Spain for around USD 108 million. The order is for mechanical works on two offsites and utilities project of Abu Dhabi Polymers Company, UAE.

Sarda Energy & Minerals said that second 500 TPD sponge iron plant of the company has commenced operations on Jul. 17, 2008, taking the installed capacity of the company of manufacturing sponge iron to 3,60,000 MTs p.a. from the existing 2,10,000 MTs p.a.

Great Eastern Shipping Company (GE Shipping) signed a contract with Hyundai Heavy Industries, South Korea for construction of two Suezmax crude carriers of 158,000 deadweight tons (dwt) each

Pakistan government has blocked a proposal for importing 400 medicines from India following intense lobbying against the move by the local pharmaceutical industry


Bharti Airtel has announced its strategic tie-up with SKS Microfinance to make mobile telephony available and affordable for rural consumers.

Bharti Airtel has announced its strategic tie-up with SKS Microfinance to make mobile telephony available and affordable for rural consumers.

Yes Bank foresees huge business opportunity from its e-payment solutions offering,


Indoco Remedies is planning to launch around 40 drugs in the domestic market within a year,

ICI India may set up a decorative paints plant to increase its capacity The company is likely to finalize the location or investment details by the end of this year. The plant is expected to produce over 100 million litres a year by 2010. The company may set up the new plant in a tax free zone.

McNally Bharat Engineering has bagged Rs 2.46 billion order from Vedanta Alumina for commissioning three plants in Orissa,


Adlabs Cinemas sealed a deal with a consortium to construct a 15-screen multiplex in Mumbai,

Maxwell Industries is looking for entering into a marketing tie-up or a joint venture with an European firm

Gujarat State Petroleum Corporation (GSPC) is planning to invest Rs 40 billion over the next three to four years to produce oil and gas from the block it discovered in the Krishna-Godavari (K-G) basin off the Andhra Pradesh coast,


wholesale price index, inflation, trudged vertically up to 11.91% for the week ended Jul. 05, 2008, as compared with 11.89%

Celestial Labs has acquired the channel partnership of Microsoft to strengthen Celestial ERP business


Kilburn Engineering has entered into a MoU (memorandum of understanding) with Conwood Pre-Fab, Goregaon (E), Mumbai for purchase of land measuring about 8 acres at Dhamangaon near Mumbai, on the Mumbai-Nasik Highway at a consideration of Rs 159 million. The company will set up manufacturing facility at this location. The said project is expected to be operational by the end of 2009.

Vishal Information Technologies (VITL) is entering into capital market with a public issue of 2.79 million equity shares The issue will open on July 21 and will close on July 24. The company has fixed the price band at Rs 140 to Rs 150 a share.

BoB to launch retail loan factory in Bhopal

Polaris Software Lab, at its meeting held on Jul. 17, 2008, approved commencement of the real estate business activity,

PTC India hopes to buy a coal mine in Indonesia by March

NTPC is planning to invest in Oman`s rapidly expanding power sector, particularly in the area of clean power generation and carbon capture technologies

Voltas today nnounced it has purchased the remaining 50 per cent stake in its joint venture firm with Fedders International Air-conditioning for Rs 31.2 million.

ABG Infralogistics has concluded the terms of hiring of 2 Nos 100 tons capacity harbor mobile cranes of model 2006 and above including operations and maintenance staff for 24 hours for a period of 5 years for the use of Stevedores / Port Users at west Quay Berths and other Vishakhapatnam Port Trust (VPT).


Parsvanath Developers has announced that it had acquired 38% stake in Nanocity Haryana Infrstructure . The company plans to invest Rs 4 billion as equity and debt for the project valued at Rs 500 billion. In the first phase company will develop 5,000 acres and 6,000 acres in next phase.


EPIC Energy has announced the acquisition of Sathian Sun Power Systems, (Sathian), a Salem, Tamil Nadu-based solar energy products company.


BGR Energy Systems announced that the company`s power projects division has bagged an EPC contract from Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL), Rajasthan for the 2 x 600 MW Kalisindh Thermal Power Project.

Titan launches new segment `Titan Eye+` is the retail chain of stores in the prescription eyewear business having product offering of frames, lenses,

TRF bagged an order worth Rs 4.14 billion from Damodar Valley Corporation (DVC) for design, engineering, manufacture, supply, erection, testing and commissioning of coal handling plant on turn-key basis for 2 X 600 mw Raghunathpur Power Project (Phase-1).

UCO Bank is looking for a foreign partner for its proposed subsidiary in financial services segment,

Apollo Hospitals Group has joined hands with Lupin to create the first disease management program (DMP) for bronchial asthma and chronic bronchitis under Apollo`s `BreatheEasy Clinic

SAIL to pay three times more for Australian coking coal

Larsen and Toubro (L&T) with Malaysian firm Scomi and another consisting of Reliance Infrastructure with Japanese firm Hitachi have submitted their financial and technical bids to construct the country`s first monorail corridor in Mumbai

Jindal India plans 1,200 MW power plant

Sanra Software plans to acquire a gaming company and launch two full-length animation movies by March next year The movies will be in 3D and 2D space
.

Gammon India is said to be in talks with the Italy-based power firm, Sofinter, for acquiring majority stake This will be the third acquisition by Gammon in the Italian market, if the deal is clinched.

Oil and Natural Gas Corp (ONGC) has sent an intention notice for acquire Imperial Energy Corp, a London-listed company focused on Russia,


Larsen & Toubro (L&T) plans to form a Rs 20 billion forging venture with Nuclear Power Corporation of India (NPCIL),

Sintex Industries is said to be in race to acquire US-based industrial composite moulder, Continental Structural Plastics for around USD 70-80 million,

Bharat Sanchar Nigam (BSNL) is planning to invest around Rs 50 billion in its WiMax project. BSNL aims to roll out wireless broadband connectivity through WiMax technology commercially this year, especially in urban areas


HCL Technologies, announced the signing of a multi-year, managed network services outsourcing engagement with Union Bank of India (UBI),

CyberMedia has inked a pact with MIT`s Technology Review to launch Indian editions of the EmTech (Emerging Technologies) Conference and the award-winning magazine Technology Review.

Satyam Computer Services, a leading global consulting and IT services provider, today announced that it has collaborated with International SEMATECH Manufacturing Initiative (ISMI), a global alliance of the world`s major semiconductor manufacturers to develop ConFy - a next-generation advanced software tester solution.

Union Bank of India (UBI), a leading nationalized bank in the country entered into a strategic alliance with KBC Asset Management NV (KBC AM), a leading Belgian asset manager with operations around the world, by signing a memorandum of understanding (MoU) as a first step to form a joint venture asset management company in India in which, their respective stake will, be 51% and 49%


The board of directors of Spicejet, in its meeting held on Jul. 14, 2008 has in principally accepted the offer of PE investor WL Ross & Co. which will make available approximately Rs 3.45 billion to SpiceJet.

BEML has bagged an export order worth Rs 345 million from African countries,

Siemens` energy division has bagged Rs 2 billion order from Sri Lanka`s state power utility, Ceylon Electricity Board,

SRF, nation`s biggest tyre cord manufacturer will acquire South Africa based Inudtex Technical Textiles for about Rs 200 million,


Rural Electrification Corporation (REC) is planning to acquire stakes in upcoming power plants in coal-rich states

IFCI has decided to reconvert a part of Life Insurance Corporation`s stake in the company into convertible debentures to reduce its stake to 8.39% from 11.39%,

Steel prices may shoots up by Rs 4,000 next month

Ispat Industries is all set to get Latua iron ore mine in Jharkhand for its proposed 2.8 million tons steel plant in the state,

Jet Airways to hike fuel surcharge from July 16 The hike would be Rs 200 for the long haul and Rs 100 for short-haul flights.

Videocon is in negotiation with Japanese majors Mitsui and Hitachi to set up a logistics company in a joint venture for supporting its retail operations

Spice Energy, is planning to raise USD 300 to 400 million from global depository receipts (GDR) issue by the second week of August The proposed GDRs will be listed on the Luxembourg Stock Exchange and the issue proceeds will be used for setting up its 1,000 megawatt (mw) thermal power plant in Tamil Nadu.


Anil Dhirubhai Ambani Group (ADAG) is looking for acquisition for starting its cement business, much before it completes its 4,000-Mw mega power project at Sasan in eastern Madhya Pradesh, which is to provide the fly ash that is used to make cement, The company has initiated negotiations with various small and medium companies through a merchant banker for the acquisition. ADAG has also appointed Anil Singhvi as a vice-chairman for Reliance Natural Resources which will set up the cement business. Earlier Singhvi served Ambuja Cements as a managing director.


JSW Steel will explore the possibility of importing iron ore from its mine in Chile and sell it in the local market,


Sical Logistics is planning to foray into air freight business through acquisitions,

RPG Group will invest close to Rs 1.6 billion in its specialty retail business, especially in Music World and bookstore chain Books and Beyond, in the next two years

the joint venture (JV) between Punj Lloyd and Swissport International, is believed to be in talks with National Aviation Company of India (NACIL) for undertaking its ground handling work

Ranbaxy selling adulterated medicines in US market

The US government has placed serious allegations against Ranbaxy Laboratories

The US department of justice (DoJ) has said there are evidences which suggest that Ranbaxy used active pharmaceutical ingredients (API) from unapproved sources, blended unapproved API with approved API, and used less-than-approved API at its Paonta Sahib (Himachal Pradesh) plant in its drugs. Using this, the company has sold subpotent, super potent or adulterated medicines in the US market.

APIs are raw materials used for manufacturing medicine.

The DoJ also said contrary to the stipulation of manufacturers using approved sites, evidence suggests that Ranbaxy manufactures products at other plants and obtains API from unapproved sources.

Era Infra Engineering has bagged order from Bharat Heavy Electricals (BHEL) worth Rs 955 million approximately.

US places allegation on Ranbaxy

US government placed serious allegations against Ranbaxy Laboratories.

The US department of justice (DoJ) has said there are evidences which suggest that Ranbaxy used active pharmaceutical ingredients (API) from unapproved sources, blended unapproved API with approved API, and used less-than-approved API at its Paonta Sahib (Himachal Pradesh) plant in its drugs. Using this, the company has sold subpotent, super potent or adulterated medicines in the US market

ArcelorMittal`s India plants are making good progress and are scheduled to start operations by 2012.


Bharat Heavy Electricals (BHEL) has bid for a locomotive manufacturing facility in Europe,

Oil & Natural Gas Corporation (ONGC) may possibly buy an equity interest in the UK-based Imperial Energy Corporation.

Phoenix Mills has inked a historic deal with Adlabs Cinemas for the country`s largest multiplex cinema at its Kurla project `Phoenix Market City`

TTK Healthcare will be held on July 25, 2008, to consider buy back of equity shares of the company and unaudited financial results (provisional) of the company for the first quarter ended June 30, 2008.


Gemini Engi-Fab, engaged in manufacturing and salvaging of process equipments, filed the draft red herring prospectus (DRHP) with market regulator, Securities and Exchange Board of India (SEBI) to tap the capital market with an initial public offering (IPO) of 5.50 million equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

AV Birla to enter broking business with Rs 2.8 billion acquisition of Apollo Sindhoori Capital Investments (ASCIL), ASCIL clarified the company is in discussion with potential strategic and financial investors including A V Birla to bring in additional investment.

Madhucon Projects, a premier infrastructure development company has bagged an engineering procurement and construction (EPC) contract of Rs 9.89 billion under international competitive bidding (ICB) for setting up of thermal power plant of 2 x 135 MW (mega watt) coastal based thermal power project at Tamminapatnam and Mommidi villages at Chilakur Mandal, Nellore district, Andhra Pradesh.


Tata Steel company is looking at acquiring an iron ore mine in Western Australia.

Bajaj Auto, Nissan & Renault to sign MoU this month

Jet Airways gets permission to fly to Dubai

Orbit Corporation has acquired 85% equity stake in Ahinsa Buildtech consequent to which it has become a subsidiary of the company.

Kamdhenu Ispat has executed a joint venture (JV)agreement with Profab Steel, a Mumbai-based company, to incorporate a company in the name of Stelex Coating

Apollo Sindhoori Capital Investments Limited

The board of directors recommended sub division of equity share capital of the company from face value of Rs 10 into Re 1 each and has decided to seek members approval through Postal Ballot. The board also recommended final dividend of Re 1 a share on 5.54 million equity shares in addition to Rs 7 already paid as interim dividend.

Sony Ericsson likely to acquire Spice Mobile


Patel Integrated Logistics has acquired a property comprising of a plot of non-agricultural land measuring 7,000 sq. yards for Rs 12.1 million together with 43,000 sq ft of construction thereon, situated at Bhiwandi, Thane district.

HCL announced it has won a new multi-year, multi-location, multi-faceted contract with Bergstrom, a global leader in the design and supply of climate systems to the commercial vehicle Industry.

Artson Engineering has received an order from HPCL, Mittal Energy for Crude Oil Storage Tanks (4 nos.) work for the Guru Gobind Singh Refinery Project at Bhatinda, Punjab. The total value of the order is Rs 362.7 million.


Tamilnadu Electricity Board (TNEB) has awarded a contract worth Rs 12.75 billion to Bharat Heavy Electricals (BHEL) for supply of 600 mw thermal power generating unit on Engineering, Procurement and Construction (EPC) basis,

Welspun-Gujarat Stahl Rohren won orders worth Rs 30 billion from India and overseas.

Index of Industrial Production (IIP) growth for the month of May 2008 plummeted to 3.8% as compared to 10.6% in May 2007.

inflation, trudged vertically up to 11.89% for the week ended June 28, as compared with 11.63%

The Special Undertaking of UTI (SUUTI) to offload around 17% out of its 27.11% stake in Axis Bank through block deals on the stock market,

Biocon, a research-driven, global healthcare company is planning to set up a fully-owned R&D company to get a major pipeline of potential therapies for cancer, diabetes among a dozen ongoing discovery programs

iL&FS Investment Managers at their meeting held on Jun. 26, 2008, approved the issue of bonus shares in the ratio of one equity share for every two equity shares held. The record date for the bonus shares will be on Jul. 29, 2008.


Max India will be held on Jul. 11, 2008, to consider and approve the joint venture (JV) arrangement with UK-based BUPA Finance.


JPMorgan Chase has invested Rs 2.5 billion in a closely-held property developer BPTP for an equity stake of 3%

SBI to launch mobile banking services shortly

ICICI Bank is being presented with several acquisition opportunities across the globe and an overseas acquisition is possible

USA job claims

U.S. 4-wk. avg. continuing jobless claims rise to 3.13 mln

U.S. continuing jobless claims rise 91,000 to 3.20 mln

U.S. 4-wk. avg. initial claims fall 10,000 to 380,500

U.S. weekly initial jobless claims fall 58,000 to 346,000

U.S. initial jobless claims hit lowest level since April

Shree Ashtavinayak Cine Vision has multiple releases lined up of best quality movies with an investment of over Rs 9 billion.

DS Kulkarni Developers (DSKDL) and ICICI Prudential PMS Real Estate Portfolio (ICICI Pru PMS) have entered into a JV (joint venture) to develop a premium high-end residential project at Bangalore

ICI India board to consider buy-back of shares price not exceeding Rs 575 a share

RiskTech, a Hexaware Technologies` subsidiary and a leading provider of enterprise risk management and risk technology services, has won three new consulting and implementation contracts in UK and Middle-East.

Tata Steel is planning to list Tata Steel Global Resources, its holding company for steel and raw material assets outside India, on the London Stock Exchange (LSE)

Bureau of Energy Efficiency (BEE) signed a memorandum of understanding (MoU) with Power Trading Corporation (PTC) to leverage the financial and technical strength of PTC

WNS Holdings has acquired Aviva Global Services, the UK-based insurance captive BPO in India and Sri Lanka, for USD 230 million This is one of the largest buyouts of a foreign captive BPO in India

Allied Digital Services has acquired 80.5% stake in infrastructure management business of US-based Enpointe Technologies for USD 30 million.

The board of directors of Era Financial Services India, at its meeting held on Jul. 09, 2008, has in principal approved the merger of Era Landmarks (India), a real estate firm, with the company subject to necessary approvals

Samtel bagged a major deal order worth more than Rs 2.5 billion from the Hindustan Aeronautics (HAL) to manufacture indigenous multi functional displays (MFDs) for SU-30 fighters and jet trainers.

Bharat Earth Movers (BEML) has bagged orders worth Rs 2.07 billion to export hydraulic excavators, rear dump trucks and bulldozers to Indonesia.

KSK Energy Ventures to list on July 14 The company issued shares at a price of Rs 240 as against the price band of Rs 240 to Rs 255 a share of Rs 10 each.

Flawless Diamond India has received orders for its Designer Diamond Jewellery from Samdiam Trading, Hong Kong worth of Rs 140 million and another order Dipar International FZE, Dubai worth of Rs 175 million. Total order is worth of Rs 315 million

Era Infra Engineering, a medium-sized construction company engaged in diversified construction activities is going to establish a thermal power plant of 1,200 MW (mega watt) in Madhya Pradesh.

Reliance Industrial Infrastructure jumps 4.40% Recently the company was alloted 1,395 acres of land to set up a SEZ by Haryana State Industrial and Infrastructure Corporation (HSIIDC).


DLF Board approves buy-back of 22 mn equity shares The board has decided to buy back shares upto an amount not exceeding Rs 11 billion and 22 million shares at a price not exceeding Rs 600 a shares.

Shares of Godrej Industries jumped on Wednesday (July 09) after the company announced that the board will consider buyback of equity shares.

Sri Ramakrishna Mills enters into real estate biz.

IVRCL Infrastructures & Projects has bagged an order of the value of Rs 4.10 billion from the government of Andhra Pradesh, Irrigation & CAD Department.

Reliance Industries (RIL) has signed an agreement with Peru`s Perupetro to jointly explore oil and gas in the Andean country,

Himalya International at its board meeting to be held on Jul. 17, 2008, will discuss joint venture (JV) with US company for organic vegetable cultivation and marketing as fresh and frozen in USA.

Dr. Reddy`s Laboratories on Jul. 08, 2008 announced that it has signed a global distribution agreement for Ibuprofen API with Albemarle, a US-based specialty chemicals company. The agreement shall come into effect immediately.

Amrutanjan sells lands to LIC for Rs 1.1 bn


Crazy Infotech at its meeting held on Jul. 04, 2008 has decided to issue further shares by international offerings through a public issue of convertible securities / ADRs / GDRs / FCCBs convertible into equity shares of the company upto USD 50 million (Rs 2 billion).

Govt. abolishes custom duty on cotton

Subex introduces cost assurance solution

HCL Infosystems announced a tie-up with Echelon Corporation, US to bring Echelon`s Networked Energy Services (NES) advanced metering systems to India.The tie-up will strengthen HCL position as a leading system integrator in the field of power.

KPIT Cummins climbed on Wednesday (July 09) after the company announced the acquisition of Harita TVS


Franklin Templeton Mutual Fund has increased its stake in ING Vysya Bank to 5.05%

Geometric releases eDrawings Professional for Autodesk Inventor ver. 6.1

Suzlon Energy plans to buy Chinese wind energy company Honiton Energy Holdings for over USD 500 million,

Siemens announced that it received baggage handling contract worth Rs 3 billion for Delhi International Airport as part of its upgradation process.

BHEL beat the L&T-Mitsubishi Heavy Industries (MHI) joint venture to the order by a very slim margin. The order is valued at Rs 25 billion.

HCL Technologies has signed a global system integration contract with VMware to offer Virtualization Lifecycle Services.

Left decides to withdraw support to govt.

Larsen & Toubro (L&T), India`s leading engineering, technology and construction company, has bagged a Rs 10.48 billion order from the Indian Railways for setting up a cast steel wheel manufacturing plant in Saran (Chhapra) District of Bihar.


Hindustan Zinc has cut lead prices by Rs 2,700 a ton and zinc product prices by Rs 1,600 a ton

Indowind Energy has decided to establish a subsidiary or joint venture company in the United Arab Emirates.


Reliance Industries and GAIL India is looking for licenses to sell natural gas to households and vehicles across 60 cities in India,

Bank of Baroda (BoB) has received the license from the China Banking Regulatory Commission (CBRC) for its full fledged branch in Guanzhou city in the country`s economic powerhouse Guangdong province,


State Bank of India (SBI), may face Rs 7 billion losses in the first quarter of financial year 2009 on its treasury portfolio due to mark-to-market (MTM) losses on bonds,

The Bharat Heavy Electricals (BHEL) - National Thermal Power Corporation (NTPC) joint venture (JV) firm for manufacturing power plant equipment is likely to finalize its business plan within a fortnight.

RCom eyes 51% stake in MTN

Reliance Money, the broking and financial services arm of Reliance Capital has entered into a distribution tie-up with the Nigeria-based Chellarams

Larsen & Turbro (L&T) has secured an order worth Rs 4.46 billion from JSW Power Transco for evacuation of power

SpiceJet up 15% as UB plans to acquire stake

Century Extrusions commenced commercial production of hardware for power transmission & distribution lines, with effect from Jul. 07, 2008.


CSA India secured work order for a total contract value of Rs 798.8 million from Ajmer Vidyut Vitran Nigam.


Bharat Heavy Electricals (BHEL) is set to win the order for boilers for the 1,600-mw Krishnapatnam power project of Andhra Pradesh Power Generation Corporation (APGENCO), The order is valued at Rs 25 billion.

Infrastructure major Larsen & Toubro has decided to split its Engineering Construction and Contracts Division
plans public issue

Axis Bank plans to set up 210 more branches across the country in this year

LIC is losing business in the overseas market year after year as it has failed to attract new customers amid stiff competition

The Rs 44 billion joint venture project between Hero and Daimler to build commercial vehicles will come up in Tamil Nadu

Cairn India on July 07, 2008 signed the `Petroleum Resources` agreement for the exploration license to explore oil and natural gas in the Mannar Basin with the Government of Sri Lanka.

Satyam Computer Services, a leading IT company, entered into a joint venture with Tyfone, a global provider of mobile financial services, infrastructure and fully-integrated mobile payment capabilities. The joint venture will help companies provide a greater edge while competing in the mobile financial service sector.

India Infoline group announced that it has received the in-principle approval for the insurance broking license from IRDA. The approval has been received by its insurance broking subsidiary, India Infoline Insurance Brokers.


Biocon is proposing to set up a new R&D entity for discovery and innovative drug development initiatives.


VVF, India`s leading producer of Oleo chemicals and personal care products, acquired a soap manufacturing plant from Henkel, a German-based global company in Poland.

Everonn Systems India signed an MoU with the Director of Higher Education, Himachal Pradesh State Government to implement IT education in 793 senior secondary schools across all 12 districts of Himachal Pradesh.

Reliance Communications (RCOM) may partner with a wealth fund based in the Middle East to directly buy 40% stake in MTN,

Emco is planning to build a 600 megawatt coal-fired power generating plant in Chhattisgarh,

US economic data

U.S. payroll revisions total 52,000 fewer jobs in April, May
U.S. initial jobless claims rise 16,000 to 404,000
U.S. 4-week average continuing jobless claims 4-year high
U.S. June private-sector payrolls fall 91,000
U.S. 2008 job losses total 438,000

GM may face bankruptcy, says Merrill Lynch

One of the world`s leading financial management and advisory companies, Merrill Lynch said that General Motors Corp (GM) may face the risk of going bankrupt if the US auto market continues to slump, reports Economic Times.

On Wednesday, shares of GM touched a new 54-year low. The auto major will need to raise as much as USD 15 billion in cash to increase its liquidity and face the downturn in the US auto market through 2009.

On the other hand, Merrill Lynch estimates that the company founded in 1908 may need more money to meet the requirements.

Glenmark Pharmaceuticals, a major drug maker, signed agreements with Iceland-based Actavis to acquire seven pharmaceutical brands in Poland for an undisclosed amount.

PVR announced the crossing of the 100 screens mark with the opening of a multiplex in Chandigarh comprising of four screens with 1,141 seats

Satyam Computer Services, a leading global consulting and information services provider, announced on Thursday the launch of SatyamStarPower.com, a web portal designed to showcase the creative talents of its employees worldwide


Tera Software bags orders worth Rs 441.4 mn from government of Andhra Pradesh, to implement the computer education programme in the Nalgonda district (280 Schools)


GEI Industrial received orders worth Rs 500 million from the oil and gas sector. The company received order for supply of air cooled heat exchangers from Essar Construction India for the Essar refinery expansion project coming up in Vadinar.

Singapore based GIC SI bought 25.4% equity stake in S.Kumars Nationwide`s Reid & Taylor (India) (RTIL) for Rs 9 billion. The deals values Reid & Taylor at Rs 35.4 billion...

Pan Atlantic of Dubai acquired 40% stake in the SPV created by Sobha Developers with an investment of USD 10 million via the FDI route,

Amtek Auto is said to be leading the race to acquire Frankfurt-based KSM Castings for an expected amount of Rs 17 billion

Tata Motors to hike commercial vehicle prices

GMR Infra completes refurbishment of Delhi Airport

India`s largest oil and gas producer Oil and Natural Gas Corporation`s (ONGC), overseas arm ONGC Videsh (OVL), has been shortlisted by the Iraq government to develop its oil fields,

GPL becomes subsidiary of GVK Power

GVK Power & Infrastructure said that Gautami Power (GPL), an associate of GVK Power & Infrastructure (GVKPIL), allotted 106,009,912 equity shares of Rs 10 each at par, on Jul. 01, 2008 to GVKPIL against the share application money already invested by the company.

Farm loan waiver scheme to put Rs 110 bn burden on banks

Contradicting to the government`s earlier assertions, it is predicted that the state-owned banks will take a hit of almost Rs 110 billion, or nearly 15% more than the revised countrywide loan waiver package of Rs 716 billion,

Mortgage applications rose 3.6% last week: MBA


Piramal Healthcare, one of India`s largest pharmaceutical and healthcare companies, and part of the Piramal Group, announced the completion of a definitive agreement with Plasma, Germany (PlasmaSelect) to acquire PlasmaSelect`s polygeline based blood plasma products marketed under the brand name `Haemaccel` in over 38 countries. Piramal Healthcare will pay cash consideration of Euro 7.7 million for the transaction.


Subex & Seimens provides software to vitenam teleco


Geometric & Wonderware partner to deliver manufacturing solutions


A meeting of the board of directors of DLF will be held on Jul. 10, 2008, to consider and approve the proposal for buy-back of equity shares of the company.

ICSA India has bagged work orders for a total value of Rs 1.45 billion from Uttar Haryana for supply and erection of 132KV Substations and Lines, 33/11 KV Substations and Lines, 11KV substations and lines and also for erection, testing and commissioning of HT, LT, DTRs.


Godawari Power & Ispat has signed a memorandum of understanding (MoU) with the government of Chhattisgarh for setting-up of cement plant, worth Rs 6,280 million


I- Flex announced that Banco BICE, Chile has chosen FLEXCUBE Universal Banking for its core banking operation. The bank will deploy Flexcube at its Santiago and all its branches in Chile.

Elango Industries is planning to set up an 80MW (mega watt) coal based power plant at Gummudipoondi near Chennai,

GVK-BHP Billiton consortium wins NELP VII bid

Tata Communications has launched the first ever offering to deliver both private and public Cisco Telepresence rooms to businesses across the world.

Reliance Money, a Reliance Capital company, has entered into wealth management services, as part of its expansion plans,

UK stock market down more than 2% beacuse nation wide housing prices fall

DAX down 2% because unemployment rate raise

ABB bags Rs 3.12 bn order for Indira Gandhi International Airpot

HCC bags Rs 3.4 bn contract from NHAI

BGR Energy System has bagged an EPC contract for 1 X 600 MW from Tamil Nadu Electricity Board. The contract is valued at Rs 31 billion.

Sintex Industries is setting aside Rs 2 billion from its reserves to acquire companies,

Sun Pharma places open offer to acquire Taro

Cipla gets two new patents

SAIL to form JV with Shipping Corporation of India

JSW Steel will invest Rs 60 billion to acquire iron ore mines in the American and African continents and expanding its capacity,