Sensex up 64pts on reform hopes

Bharat Forge America, the U.S. subsidiary of Bharat Forge is in the final stage of either shutting down the operations or an imminent sale.

Reliance Infrastructure, Tata Power and Crompton Greaves have placed bids to partner with state-run NTPC in its foray into electricity distribution, a senior official at NTPC said.

The government will initiate action against nine companies that have been booked by the Central Bureau of Investigation for misrepresentation of facts to win coal mining licences, a senior ministry official said.

INFRASTRUCTURE/INDUSTRIAL

GMR Infrastructure is in talks with some large companies to sell 51-74 percent stake in three operating toll road projects as part of its plan to unlock value and lower its debt, according to a senior company official close to the development.

DuPont, the diversified US industrial group, is hoping to be a billion-dollar company by sales in India by the end of 2012, said Rajeev Vaidya, president of Dupon'ts South Asia operations.

PHARMA

A panel of ministers is understood to have finalized a fresh pricing mechanism, which will lead to a sharper reduction in drug prices.

Sources said that the new formula will take into account "the simple average method" for determining the ceiling price of all the molecules for drugs under a particular area versus the "weighted average" method cleared in September by a panel.

Cipla appointed Subhanu Saxena as Chief Executive Officer. Saxena has been with Novartis AG, where he led the Global Product Strategy and

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