Sensex up over 74 points in early trade ahead of RBI policy

Dec 18 2012, 09:48 IST
Comments 0
Sensex opened 74.18 points up to 19,318.60, with all sectoral indices rising up to 0.67 per cent. (Reuters) Sensex opened 74.18 points up to 19,318.60, with all sectoral indices rising up to 0.67 per cent. (Reuters)
SummarySensex opened 74.18 points up to 19,318.60, with all sectoral indices rising up to 0.67 per cent.

way. Exactly a decade after he launched India's first low-cost carrier (LCC) Air Deccan and five years after he was forced to sell it off, Captain G R Gopinath is all set to make a comeback with a startup.

INFRASTRUCTURE/POWER

The 32-km Phase-II of the Mumbai Metro project, bagged by Reliance Infrastructure, faces termination in the absence of substantial progress.

Reliance Power promoters, Reliance Infra, Reliance Innoventures and AAA Project Ventures will sell 5.42 percent stake in the company through separate window in BSE.

The Reserve Bank of India on Monday allowed property developers to borrow money overseas through external commercial borrowing (ECB) for funding low-cost housing projects.

The government will this month finalize the bid documents for all new power projects, including those capable of generating 4,000 megawatts (MW), in which it will specify that these be transferred to the electricity buyers at the end of the 25-year power purchase agreements (PPAs).

AUTOS

Auto giant Mahindra & Mahindra is in advanced negotiations to buy out its American partner Navistar's stake in the 51:49 commercial vehicle joint venture Mahindra Navistar Automotives Ltd (MNAL). According to sources, the negotiations are almost complete and an announcement is expected shortly.

India's competition watchdog is investigating anti-competitive practices by carmakers, the country's corporate affairs minister Sachin Pilot said in a written reply in parliament on Monday.

Bracing for tough times ahead, Tata Motors, India's largest automobile manufacturer in revenues, has embarked on a major belt tightening exercise. The company is making efforts to tide over a market dip in demand for its key commercial vehicles business.

INDUSTRIAL

India's Godrej Industries said on Monday Singapore's Temasek will buy 20 percent stake in the former's agriculture business unit for 5.72 billion rupees ($104.86 million) to fund the unit's expansion plans.

HEALTH CARE

Bangalore-based biotechnology firm Biocon Ltd has given CCM Pharmaceuticals, a subsidiary of Chemical Company of Malaysia, exclusive licence and distribution rights for its insulin products in Malaysia and Brunei.

Caraco Pharmaceutical Laboratories, the US subsidiary of Sun Pharmaceuticals, has reached an agreement with Takeda Pharmaceuticals USA Inc to buy the generic business of URL Pharma. Financial details were not disclosed.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...