TCS acquires Citigroup Global Services for US$505mn and also gets US$2.5bn contract from Citi. (BS)
Tata Power may increase stake in Bumi Resources (ET)
M&M to launch green SUVs in US by early 2009 (ET)
Satyam Computers is considering Eastern Europe and Latin America as potential markets (ET)
Wockhardt signs a 10-year exclusive in-licensing agreement with UK-based pharma company to market a range of dermatology and dental products (ET)
Cairn is yet to receive ‘right of use’ for Rajasthan pipeline (BL)
ONGC may generate 4 lakh carbon credits by 2012 (BL)
Siemens sets up a new arm for rail transportation sector (BL)
US Department of Justice has withdrawn its motion against Ranbaxy. (ET)
Reliance Infra files an appeal against MERC order allowing Tata Power to sell 100MW to Tata Group’s power trading arm (BS)
Ashok Leyland’s September sales decline by 15% yoy (BS)
Mittal and Tata Steel are learnt to have shown interest in mining collaboration with Coal India (DNA)
Kotak Mahindra Bank has hiked deposit rates. (FE)
ACC plans expansion to retain market share (BS)
Tata Communication’s South African subsidiary plans to raise US$1bn in debt (BS)
BPCL in talks with Nippon for power via fuel cell technology (BS)
ONGC’s arm OVL seeks Kazakhstan oil company stake (DNA)
Videocon Group to set up IT park in Kolkata. (ET)
Videocon Industries plans to diversify into selling of power inverters and mobile phones. (Mint)
JSW Steel remains firm on expansion plans in spite of the economic crisis. (BS)
Dr.Reddy’s to stop innovative drug research at Perlecan Pharma, its wholly owned subsidiary, to freeze on R&D spends. (ET)
Essar Steel plans to invest Rs12bn to expand its steel and power capacity at Steel Algoma plant. (ET)
Nagarjuna Constructions has ruled out fund inflow from PE player Blackstone and is contemplating other routes of raising finance. (Mint)
Government has rejected a plan of Mahindra Defence Systems, a unit of M&M to set up a defence JV with an overseas company. (Mint)
US-based Merck is set to enter oncology segment in India (ET)
IDFC raises US$855mn under India Infrastructure fund. (BS)
SCI to buy four cargo ships for Rs16bn (ET)
IFC is likely to pump in US$74mn in United Phosphorous (FE)
Aspen Pharma and Matrix Labs enter into an asset-selling agreement (DNA)
Biocon arm launches cancer drug in UAE (BL)
Tata Chemicals to put Tanzanian JV on hold (ET)
Subex bags order from Norwegian telecom to deploy data integrity management solution. (BS)
Sterlite Technologies receives a contract from BSNL worth Rs240mn (DNA)
Elecon Engineering bags orders worth Rs520mn (BL)
Economic Front Page
Private airline carriers ask for Rs47bn bailout package from Government (BS)
Banks to stop lending to oil marketing companies owing to liquidity crunch and high debt (BS)
Finance ministry may ease norms for Indian non-infrastructure companies, especially those in manufacturing. (BS)
All proposals in respect to the telecommunication sector are now required to be approved by the Ministry of Home Affairs. (BS)
Government plans to make India a power equipment making hub. (BS)
Government rules out FDI in general retail (BS)
Commerce minister says FDI inflows have rose 124% in first five months of the current fiscal. (ET)
FIPB clears 17 FDI proposal worth Rs7.9bn. (ET)
Steel prices may decline 10% by FY10 (BS)
Hotels dish out discounts up to 50% to keep room occupancy steady (ET)
According to Trai, 30% of new mobile users are from rural areas (BL)
Government has decided to extend the rehabilitation package scheme for farmers by two years. (FE)
Railways to raise freight charges for iron ore movement (BL)