Sensex rebounds, up 194 points in early trade

Dec 11 2012, 09:47 IST
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US stocks edged higher on Monday as technology shares bounced back. (Reuters) US stocks edged higher on Monday as technology shares bounced back. (Reuters)
SummaryThe 30-share barometer lost over 77 points in the past two trading days.

the company said, in a deal which sources said could add up to $1.1 billion to government efforts to ease its yawning budget deficit. The government may on Tuesday announce a floor price for the NMDC issue in a range of 145 rupees to 150 rupees a share, said two sources with direct knowledge who asked not to be named as details are not yet public.

* After prolonged wrangling, power generator NTPC and coal producer Coal India appeared to have ironed out differences over the fuel supply agreement (FSA) and said the pact will be signed in a month's time.

* Hindustan Petroleum Corp Ltd has told the Oil Ministry that its proposed 240 billion rupees refinery at Barmer in Rajasthan will be unviable unless it is given all of the crude oil that Cairn India produces from oilfields in the state.

* The DGH has rejected Reliance Industries' proposal to do a single test to confirm three natural gas discoveries in the flagging KG-D6 block, saying separate tests

are required as the three finds are distant and unconnected.

* Even as domestic gas production has fallen 8 per cent, Oil India Ltd is planning to set up a liquefied natural gas (LNG) receiving terminal in India. The company plans to set up a 2.5-million tonne (mt) capacity terminal.

* The coal ministry is yet to make much progress in getting companies that have been allotted captive coal blocks to sign so-called power purchase agreements (PPAs) with state-owned power distribution companies, as it has been asked to do by the power ministry.

INFRA

* The government said it has so far awarded barely 11.5 percent of the targeted projects for construction of 8,800 km of highways during the fiscal.

* Chennai-based public sector undertaking, Neyveli Lignite Corporation Limited, is contemplating seeking additional compensation from Bharat Heavy Electricals Limited

for the loss it had incurred due to the latter's delay in the execution of its 500-Mw (2x250 Mw) power plant at Neyveli.

AGRI COMMODITIES

* Cargill said it has signed an agreement with Wipro to acquire the latter's flagship brand Sunflower Vanaspati.

OTHER FACTORS TO WATCH

* Indian debt/FX factors to watch

* Euro survives Italy worry, Fed in focus

* Brent oil gains after Chinese oil imports grow

* Foreign institutional investor flows

* For closing rates of Indian ADRs

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