Tata Motors cut production of medium and heavy commercial vehicles. (ET)
S&P revises its rating on Tata Steel UK to stable from positive. (ET)
Sterlite Industries to pay US$50mn break-up fee for dropping Asarco bid. (BS)
Several developers including Unitech, Parsvnath and Omaxe which had bought land from Greater Noida Authority last year are likely to defer payments. (ET)
Proposed divestment of 21.5% stake in Axis Bank by SUUTI has been put on hold due to lack of buyers. (BS)
BHEL bags an order worth Rs14.7bn from NTPC to set up two 660mw steam turbine generators in Bihar. (BS)
Starwood exits HCC’s Lavassa hotel project. (DNA)
Tata Group stake in auto company set to cross 50% mark. (ET)
Bajaj-Auto Finance to shut down 32 branches and reduce 56 attached location. (FE)
TCS eyes new business models for growth. (FE)
RCom enter into a tie-up with HTC to develop and promote next generation CDMA devices for Indian consumers. (FE)
Hindustan Zinc cuts prices of zinc and lead by Rs2,800 per ton and Rs3,400 per ton, respectively. (FE)
MMRDA asks short listed companies to submit detailed financial bids for second Mumbai Metro line. (ET)
Domestic steel companies cut output on rusty demand. (ET)
Gail to buy 19% stake in ONGC’s Dahej plant. (BS)
Apollo Tyres to raise prices by 3-4%. (BS)
ONGC earned US$119 barrel from oil sales in quarter ended September 08. (BS)
ICICI Bank raises its home loan rates by 100bps. (BS)
Alfa Laval to hike stake in Indian arm by 90%. (BL)
Three PSU’s to firm JV for export of nuclear reactor. (BL)
Vijaya Bank seeks approval from government to raise Rs8bn. (BL)
UB Group unlikely to infuse funds into Kingfisher Airlines. (BL)
IL&FS fund buys 30% in JB Pharma SEZ. (ET)
Economic Front Page
Inflation for week ended October 11 drops to 11.07% from 11.44% reported in previous week. (ET)
RBI is expected to cut SLR and tweak loan rules. (ET)
FM says SEBI has told FIIs that it disapproves of lending to offshore entities and asks them to reverse those transactions. (ET)
SEBI is set to bar early withdrawals from upcoming Fixed Maturity Plans (FMP). (ET)
Government is likely to cut fuel prices once the Indian crude basket prices slips below US$59 per barrel. (ET)
FDI in telecom sector up by 62% at US$1.26bn in FY08. (ET)
Government has raised overall cap on the overseas borrowing by India Inc to US$35bn. (ET)
Civil aviation minister says FM may ease taxes on jet fuel soon. (BS)
RBI survey indicates that the corporate profit growth in the current financial year be better then estimates. (BS)
RBI survey says India’s GDP is expected to grow 7.7% this year. (BS)