Sensex dips 166 pts on profit-booking
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India's federal cabinet is set to discuss and likely approve a plan to levy a total surcharge of $5.7 billion on long-established mobile phone carriers for additional airwaves they hold.
The Cabinet is also likely to approve the new pharmaceutical policy that could bring over 300 essential drugs under price control from 74 drugs as at present.
Oil and Natural Gas Corporation, Ranbaxy Laboratories, Sun Pharmaceutical Industries, Steel Authority of India, Reliance Communications to report July-September earnings.
INDIAN STOCKS TO WATCH
India's Tata Motors Ltd net profit fell short of expectations as rising marketing costs hurt its margins and slowing economic growth curbed demand for its commercial vehicles.
India's state-run upstream oil companies are likely to bear a total subsidy burden of 151.08 billion rupees ($2.8 billion) for the September quarter, a government source said, to compensate state oil marketing companies for losses on fuel sales.
India has pushed back a decision on divesting stake in state-run National Aluminium Co to the January-March quarter, federal minister of state for mines Dinshaw Patel said on Wednesday.
India's Mahindra & Mahindra Financial Services launched a share sale on Wednesday to raise about $160 million, two sources with direct knowledge of the situation said.
Mahindra and Mahindra set a floor price for the qualified institutional placement at 880.70 rupees.
The Land Acquisition Bill is set to be delayed as the Cabinet is unlikely
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