Sensex rebounds, up 194 points in early trade
arm of top Indian mobile carrier Bharti Airtel, said it will allot shares worth $120 million to cornerstone investors as part of its up to $832 million initial public offering. (Reuters)
* The income tax department is seeking to reopen the case it lost against British telecom major Vodafone and wants the matter heard afresh by a larger bench.
* Russian conglomerate Sistema has warned India that a lack of progress in a dispute over telecoms licenses is putting bilateral relations at risk ahead of a visit by President Vladimir Putin later this month.
* State-run telecom operator Mahanagar Telephone Nigam Ltd(MTNL), which operates in Delhi and Mumbai, is set to raise between 50 billion rupees and 70 billion rupees this financial year by issuing sovereign bonds -those backed by the government to reduce its debt burden.
AUTO
* Great Wall Motor Co is in talks to open a plant in India, a move that would make it the first Chinese carmaker to operate in the country without a partner.
* India may consider diplomatic efforts to ask the Sri Lankan government to bring down import tariff on automobiles in the wake of the island nation hiking duties that has affected exports from the country.
* The new year is expected to give automobile industry some respite, as import tariffs for critical components imported from the Asean block, India's largest trading partner, are slated to halve from January, thus cushioning the impact of incessantly rising costs of auto components.
RETAIL
* A day after Parliament gave
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