Sensex up 45 points in early trade

Nov 16 2012, 09:39 IST
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Sensex rose by 45.13 points, or 0.24 per cent, to 18,516.50, led by gains in stocks of realty. (Reuters) Sensex rose by 45.13 points, or 0.24 per cent, to 18,516.50, led by gains in stocks of realty. (Reuters)
SummarySensex rose by 45.13 points, or 0.24 per cent, to 18,516.50, led by gains in stocks of realty.

Capital for offering various advisory services.

ENERGY/COMMODITIES

Upstream oil regulator Directorate General of Hydrocarbons has given the nod to Reliance Industries to drill a well as part of the $1.529 billion plan to develop four satellite gas fields around the now flagging main fields in the eastern offshore KG-D6 block.

Vedanta Resources Plc may cut output at its four-year-old aluminium smelter in India as it grapples with a shortage of raw material, two people familiar with the matter said.

TELECOMS

India's mobile phone market is bound to consolidate after an expensive licensing process, helping Norway's Telenor turn a profit in the country after years of losses, finance chief Richard Olav Aa said.

PROPERTY

Private equity firm Xander Group is acquiring a 1.2 million-sq ft retail and hotel project of real estate developer Ozonegroup for about 3.5 billion rupees, a person familiar with the deal said.

AIRLINES

Air India's bond sale worth 74 billion rupees ($1.35 billion) was fully subscribed and would save the company about one billion rupees a month in interest payments, the aviation secretary K.N. Srivastava said on Thursday.

Air India is set to mandate Delhi-based real estate consultant DTZ International Property Advisors Pvt. Ltd to help it raise money by selling, leasing or redeveloping its real estate assets, according to airline and property consultancy executives.

Indian airlines are set to witness over 42 percent utilisation of seats allowed for overseas destinations, government data shows, surpassing for the first time in eight years the capacity used by foreign carriers flying into the country.

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