Sensex up 41 points on rate cut hopes

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Sensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate. (Reuters) Sensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate. (Reuters)
SummarySensex rose 41 pts in early trade on sustained buying by participants on hopes RBI will cut interest rate.

with Kohlberg Kravis Roberts & Co LP to buy up to 4 billion rupees stake in home-grown slimming and beauty services chain VLCC, said at least two people familiar with the matter, adding that the company is worth more than $300 million.

ENERGY/COMMODITIES

India's plan to raise about $2 billion selling a stake in power producer NTPC Ltd will likely take place on Feb. 7, three sources with direct knowledge of the situation said on Friday.

Coal India Ltd said in a court filing The Children's Investment Fund cannot force the state firm to raise prices for the interest of a particular shareholder, and that the company and its directors are under no obligation to sell coal at international prices.

Coal India is facing a lawsuit from TCI, with a hearing at Calcutta High Court to be heard on Wednesday.

TELECOMS

Reliance Industries Ltd's fourth generation long-term evolution services are expected to be launched between June and August, at least starting with Mumbai, New Delhi and Jamnagar, vendors in discussion with the company said.

Norway's Telenor is unlikely to bid in an auction for mobile licences in Mumbai unless India halves the fee, its Chief Executive Jon Fredrik Baksaas said on Friday. AUTOS

Maruti Suzuki India Ltd has purchased the land for its fourth plant in India, with a view to roughly doubling annual production capacity to about 3 million units, the Nikkei business daily said on Sunday.

Ashok Leyland Ltd is hoping to raise around 5 billion rupees by offloads stakes in some of its subsidiaries as well as IndusInd Bank Ltd, chief financial officer K Sridharan told analysts.

AIRLINES

Jet Airways (India) Ltd will sell a 24 percent stake to Etihad Airways for around $300 million, according to two people close to the development, neither of whom wanted to be named.

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