Jet Airways and Kingfisher Airlines announced a strategic alliance to help them reduce cost and enhance efficiency. (BS)
Oil India defers IPO on choppy markets. (BS)
Tata Teleservices plans to restructure the company to offset losses of around Rs51.4bn by way of capital revamp. (BS)
TCS bags Rs10bn Passport Seva Project from the government. (BL)
HCL Tech has purchased 6.7mn shares of Axon from the open market, representing 10.43% of Axon’s total paid up capital. (BS)
Tata Motors plans to launch Xenon, Indicruz, the new Indigo and Nano to rev up a sluggish sales growth. (ET)
HPCL is seeking by tender 130,000 tons of low-sulphur diesel and 57,000 tons of kerosene and gasoline for Dec-Jan delivery. (ET)
Nalco has cut aluminium prices by Rs4,500 a ton. (ET)
Jaiprakash Associates is planning to raise Rs20bn through a rights issue. (ET)
ONGC and GSPC are likely to fetch a minimum of 20% premium over Reliance Industries’ gas price. (FE)
Ranbaxy seeks nod for human clinical trials. (BS)
Emco Ltd has set up a US$20mn joint venture with Edison Power Ltd of South Africa for manufacturing transformers. (BL)
BSNL to roll out 3G services in North-eastern states and Chennai. (FE)
Axis Bank plans to form an asset management company with Geneva based Banque Privee Edmond de Rothschld Europe. (FE)
Dr Reddy’s, Ranbaxy and Wockhardt, are in race for Germany’s largest health insurer Allgemeine Ortskrankenkasse’s US$3.5bn drug supply contract. (ET)
Ipca Laboratories has entered into a strategic alliance with US-based Heritage Pharmaceuticals to manufacture and market Propranolol HCI Oral Tablets, used for cardiovascular treatment. (ET)
McLeod Russel has acquired Vietnam-based Phu Ben Tea company for ~US$7mn. (BS)
Reliance Brands forms JV with Italy's Diesel. (BS)
Apollo Hospitals International Ltd to invest Rs20bn in the next five years in developing reach hospitals, high-end hospitals and knowledge centres. (BL)
Wanbury has launched its new drug delivery system product Nitrofur SR targeted at urinary tract infections. (FE)
Dish TV and TataSky plan to roll out DVR technology. (FE)
Aurobindo Pharma has received US FDA approval for manufacturing and marketing of Fluconazole tablets used as an anti-fungal drug. (FE)
PS Saminathan, one of the promoters of Pyramid Saimira, plans to hike his stake in the company by ~25% to 51%. (ET)
Subhiksha Trading Services plans to invest upto 10bn to fuel its expansion plans; may dilute part of the promoter’s stake. (FE)
Subhiksha retail chain is likely to list on bourses through a reverse merger with its newly acquired publicly traded entity Blue Green Construction and Investments Ltd soon. (FE)
Economic Front Page
To ease the liquidity situation the government and the RBI are considering a special window to enable banks with farm loan relief scheme arrears to raise funds. (BS)
Post the 150 basis points cut in CRR call rates dropped below 10% as the liquidity condition eased. (BL)
The Government has set up a committee to look into 2G, 3G revenue split. (ET)
Car sales grew by 5.4% during H1 F09 as against 13% last year. (ET)
Indian Railways registered an increase of 17.64% in total earnings during H1 FY09. (FE)
The hydro power generation dipped by 11.8% to 12.15bu in September 2008 compared to 13.77bu in last year. (FE)