News: Ø ONGC Videsh, the overseas arm of state-owned ONGC, pulled out of an auction of $184 billion oilfield in Brazil after it could not stitch an alliance to bid for the giant project. Ø Mahindra Holidays & Resorts India unveiled a new brand identity in respect of its flagship brand Club Mahindra and chalked out future expansion plans, including adding 1,000 rooms by FY15 in its properties. Ø Bajaj Auto to launch 100 cc bikes, 2 more discover bikes. Company plans to close gap with Hero Moto corp. Ø The tax-free bonds of NHPC were sold out a day before the official end of the sale period and received bids for Rs. 1,950 Cr, nearly double the Rs. 1,000 Cr it planned to raise. Ø Exporters will be able to mask shipments to Iran as the govt. has asked state-run trading agencies MMTC and STC to front-end exports to evade Wests sanctions on that country. Ø Kokuyo Camlin has won a legal battle for Kafty Glue trademark with the Bombay HC restricting Atul Paper from copying the Camlin brand in any manner. Ø NSE has lifted the ban on 26 entities, including Gitanjali Gems promoter Mehul Choksi and firms linked to Prime Broking from trading in securities market. Ø Wockhardt said Britains drug regulator has revoked the quality compliance certificate, or production license, issued to its manufacturing plant in Gujarat. Ø The oil ministry has decided to exempt Gail India from paying any compensation to PSU fuel retailers for selling diesel, kerosene and cooking gas below market rates because it does not make windfall profits when international crude oil and gas prices soar. Ø US court turns down Apollo Tyres plea for Cooper Tire suit dismissal. Ø ICICI Bank introduced a slew of products and services for its NRIs customers. Ø Tata Power may sell some investments and raise equity to help reduce debt. Ø Jubilant Life Sciences might soon list itself on the New York Stock Exchange (NYSE). Ø Apollo Hospitals Group is soon going to launch the next version of telemedicine, a web-based platform with a Skype-like video conferencing tool embedded. Key Events for the day: Ø Board Meeting for Q2FY13 Results: Hero Motocorp, ACC, Amubuja Cements, Emami, Jet Airways, L&T Finance Holdings, Power Grid, SKS MIcrofinance, Raymond, Dish TV, Exide Industries, Escorts, Hindustan Zinc, Autoline Industries, Firstsource Solutions, Indiabulls Housing Finance, Onward Technologies, Piramal Enterprises, Ramco Industries, Ramco Systems, TTK Healthcare. Ø Release of Consumer Confidence in Euro Zone. Ø Release of Crude Oil Inventories in US.
Posted on: Wed, 23 Oct 2013 05:16:54 +0000
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