Sensex dips 166 pts on profit-booking
to take it up at its meeting this week even after the Group of Ministers (GoM) approved it, sources with knowledge of the development said.
TELECOMS
The Bombay High Court dismissed an Income-Tax Department's appeal on tax claims from Reliance Communication on nearly 56.35 billion rupees of revenues, saying the transactions being examined did not qualify to be taxed.
AIRLINES
Kingfisher Airlines is preparing a comprehensive plan to re-start operations, which will be shared with banks and regulators, the airline said in a statement, while also announcing its July-September net loss had widened to 7.54 billion rupees from 4.69 billion rupees a year ago.
Separately, the chairman of State Bank of India said on Wednesday Kingfisher needs to raise or commit at least $1 billion by Nov. 30, adding that lenders are not looking at liquidating the carrier's assets as of now.
AUTOS
Eicher Motors and Volvo AB will invest 18 billion rupees ($331 million) over the next two years in their Indian joint venture, Eicher's head said on Wednesday, and begin exports of engines to Volvo's European operations next year.
IT
Strong demand from the financial services industry and from companies in Europe boosted Cognizant Technology Solutions Corp's third-quarter results and prompted the IT services company to raise its full-year earnings forecast.
RETAIL
Delta Corp has increased stake in Daman Hospitality to 87.16 percent through conversion of fully convertible debentures, according to a stock filing.
OTHER FACTORS TO WATCH
Indian debt/FX factors to watch
Yen rallies on risk aversion; NZD hit by jobs data
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