CORPORATE NEWS UPDATE

MARKET UPDATES!!!

Reliance Inds makes 8th oil discovery in Cambay basin block; may
commission Krishnapatnam ultra mega power project 8 months ahead of
schedule; to acquire 60% stake in the Shale Acreuge in Pennsylvania.
→ ABC PAPER: promoters Khaitan and Bajaj families to part ways; Bajaj
family promoted AMRIT CORP to sell 26.36% stake in company to
Khaitan-promoted Esteen Finventures in 7-10 days.
→ L&T bags new orders worth 10.25 bln in Buildings & Factories Segment.;
has embarked upon a 5-year plan, named 'Perspective Plan 2010-15', that
may lead to restructuring of its current portfolio of businesses
→ Mahindra & Mahindra may get board nod for Ssangyong bid today; bid
expected to be in US$ 350-450 mln range, likely financed through debt and
internal accruals.
→ TCS eyes 2 contracts for defence communication systems worth 28 bln;
also wins Pricewaterhouse Cooper's contract to handle IT support system.
→ Infosys Tech’s arm Infosys BPO wins shared service centre contract from
Global Group.
→ Petronet may buy more spot LNG as D6 output stagnates to fill in the
anticipated demand-supply gap for gas
→ Tulip Telecom plan 5 bln capex each year in FY11 and FY12; may buy
back more out of US$98 mln FCCB if time ripe; plan to set up more data
centers in 2-3 cities.
→ JK Tyre to set up radial tyre unit near Chennai for 15 bln.
→ Mundra Port & SEZ lines up 60-bln expansion plan for next 3-5 years.
→ NMDC hikes capex for FY11 to 10 bln.
→ IFCI seeking bank licence as part of one of the co's growth strategy.
→ Godrej Consumer in talks with Procter & Gamble to give up its licence to
sell air freshener Ambipur in India.
→ Omnitech to invest upto 1 bln in disaster recovery mgmt site.
→ PFC is considering financing nuclear power projects, in talks with Nuclear
Power Corp.
→ Allcargo Global to set up second warehouse in Mundra in next 3-4
months.
→ VIP Industries plans to buy European firm this year.
→ Lakshmi Vilas Bank has got shareholder nod to dilute equity by 40%.
→ AK Capital Services aims to raise 4 bln via a QIP issue to fund both
organic and inorganic growth.