Reliance Petroleum (RPL) plans to begin production at its second refinery in Jamnagar by mid-November

BPCL to invest Rs 20 bn in three years

Ranbaxy likely to lose USD 140 mn on US ban

Tata Steel acquires 7% more in Mozambique coal mines

Moschip Semiconductor introduces next generation processor

Mitsubishi UFJ to acquire stake in Morgan Stanley

Wipro arm signs agreement with Oracle

EPIC Energy has successfully commissioned a 500 kva energy saving project for Aditya Trade centre at its Hyderabad property.

Karuturi Global is raising USD 100 million by selling a 15% stake in its Dubai-based subsidiary,

Indian Farmers Fertiliser Cooperative (Iffco) plans to add new capacity locally and consolidate raw material supplies overseas after the government eased investment and pricing rules for fertilizer makers

Sterlite Technologies is in advanced discussions to acquire UK-based cabling company Brand-Rex for roughly USD 55 million,

Wockhardt Hospital, part of Rs 30 billion Wockhardt Group of Companies, has opened 200 bed super specialty hospital at Nashik, at a total investment of Rs 700 million,

Punj Lloyd receives EPC contract worth USD 800 mn

Infotech Enterprises, plans to buy three firms by March and has set aside Rs 3 billion for the acquisitions.

Moser Baer India has announced that its wholly owned photovoltaic (PV) subsidiary has received in full the agreed capital injection of Rs 4.15 billion from a consortium of global investors to fund the capacity expansion of its high efficiency crystalline silicon and thin film solar verticals.


Patni Computer Systems on Sept. 23, 2008 announced the introduction of Patni Financial Exchange Management, a business process framework that streamlines the operations of stock, commodity and mercantile exchanges at Oracle OpenWorld in San Francisco.

Satyam Computer Services announced today that it has opened a development center in the Pune Special Economic Zone (SEZ) at the Rajiv Gandhi InfoTech Park, Hinjawadi.

Nagarjuna Construction Company announced that the company secured four new orders aggregating Rs 4.13 billion.

Ranbaxy gets notice from Canadian drug regulator

SMS Pharmaceuticals announced that the Board of Industrial & Financial Reconstruction of India (BIFR) has approved the modified rehabilitation scheme vide its order dated Sep. 17, 2008 for the merger of Plant Organics (POL) with SMS Pharmaceuticals with effect from Jan. 01, 2008.

Satyam to provide clinical development applications with Oracle

Alok Industries, a leading Textiles manufacturer in India, is planning to invest Rs 1.5 billion to open 500 stores by FY10 from the current 35 stores. The company will invest 800 million rupees to open 215 new stores by March 2009.

Hindustan Petroleum Corporation (HPCL) will commission its Rs 189.19 billion grass root refinery at Bhatinda, Punjab by March 2011

JSW Steel is likely to start the construction of its proposed 10 million-ton steel plant in Jharkhand by early next year,

USA economic data

July House Price Index m/m -0.6% vs -0.2% consensus

Richmond Fed -18 vs -12 consensus

Nomura acquires Lehman operations in Europe

Japanese investment bank Nomura Holdings Inc. said Tuesday it's agreed to acquire the European and Middle Eastern equities and investment banking operations of Lehman Brothers. The divisions being acquired employ around 2,500 staff, of whom a "significant proportion" are expected to be retained, Nomura said. The deal doesn't include any trading assets or liabilities and Nomura didn't disclose what it is paying. On Monday Nomura acquired Lehman's Asia Pacific operations, which have around 3,000 employees.