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Tuesday, December 12, 2006

NEWS ROUND UP


ICICI Bank Ltd’s Board has approved the merger of The Sangli Bank Ltd. with itself. Deloitte Haskins & Sells have recommended a share exchange ratio of 100 shares of ICICI Bank for 925 shares of Sangli Bank.

Infosys Technologies Ltd will be added to the NASDAQ-100 index, effective with the market opening on December 18. Infosys is the first Indian company to be added to the NASDAQ-100 index and is the only Indian company to be part of any of the major global indices.

The Tata group is reportedly planning to buy up to 10% in Delhi-based budget carrier SpiceJet in a deal worth about Rs 1bn, The Economic Times reports.

GMR DIAL has awarded Larsen & Toubro Ltd (L&T) the contract for Design and Construction of Terminal, Runway and Associated Works of Delhi Airport. The deal, valued at about Rs54bn will give shape to the Master Plan unveiled by GMR-DIAL recently.

Bank of India (BOI) would buy more than 50% stake in Indonesia's PT Bank Swadesi, Bank Indonesia's Deputy Governor Siti Chalimah Fadjriah said on Monday.

MindTree Consulting Ltd., the Bangalore-based IT services company has filed a Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to enter the capital market with an Initial Public Offering (IPO) of equity shares.

Arcelor Mittal has successfully concluded the review of the mining development agreement, signed in 2005, with the Government of Liberia.