Sensex up 116 points in early trade

Nov 20 2012, 09:36 IST
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Sensex added 116.29 points, or 0.63 per cent to 18,455.29 in the morning trade.  (Reuters) Sensex added 116.29 points, or 0.63 per cent to 18,455.29 in the morning trade. (Reuters)
SummarySensex added 116.29 points, or 0.63 per cent to 18,455.29 in the morning trade.

targeting to buy a majority stake at a coal mine in Colombia, said N.C. Jha, CEO of the Mining Business division.

FINANCIAL/REGULATORY

Insurance sector regulator IRDA is objecting to the finance ministry's plan to allow Life Insurance Corporation (LIC) to own up to 25 percent of a listed company.

Officials of the Foreign Investment Board will meet Tuesday to discuss the potential implications in India from a recent report by the U.S. Congress Panel that said Huawei Technologies and ZTE Corp posed a security threat.

RETAIL

Dairy giants Danone is among potential acquirers of a controlling stake in Tirumala Milk Products after promoters and private equity investor Carlyle Group started work on a share sale plan, said sources directly familiar with the process.

AUTOS

Honda Motor Co on Monday announced the recall of 11,500 units of standard variant of its premium motorcycle CBR 250R, which were produced and sold in India, due to a defective brake system.

AIRLINES

Air India Ltd is undertaking a series of steps to rid itself of debt while hoping to post an operating profit by the end of fiscal 2013 and a net profit by 2020, according to two senior airline executives. IT

Polaris Financial Technology is planning to allocate $100 million to acquire two to three product firms in four years, as part of its new plans to double its revenue, said Arun Jain, chairman of Polaris.

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