Pre Session Commentary - Sep 25 2009

Reliance Industries threatens to stop gas supply to Reliance Infra on payment defaults. (ET)

Reliance Industries has signed natural gas sales pact with NTPC. (BS)

Reliance Infratel, an arm of Reliance Communication to sell 10% stake through IPO. (ET)

South Africa government officials met representative from market regulators and the finance ministry on a proposal to permit dual listed companies involving Bharti-MTN deal. (BS)

Reliance Infra, Sterlite and Lanco Infra have submitted bids for PFC’s mega transmission project. (ET)

Jaguar-Land Rover, subsidiary of Tata Motors will close one of its two plants in west Midlands. (ET)

L&T bags Rs20bn order from GMR Energy. (ET)

Sesa Goa to raise up to US$500mn through FCCBs. (FE)

Jet Airways to raise up to US$400mn through QIP to meet its working capital requirements. (FE)

Tech M, TCS and IBM are in race for US$400mn Sistema deal. (ET)

Tech Mahindra to raise Rs3bn via NCB. (FE)

GE deal to stay with Mahindra Satyam for three years. (ET)

Wipro bags Rs1.35bn contract from Punjab and Sindh Bank. (ET)

M&M may buy Kirloskar’s stake in Swaraj Engines. (FE)

TVS Motors set to make twin spark plug for their motorcycle model Flame. (FE)

Nalco plans to increase sales of alumina in immediate delivery market by 20% next year. (BL)

Tata Communication enters cloud computing segment. (FE)

Fortis Healthcare has received SEBI approval for its plans to raise funds by issue of equity shares and warrants on rights basis. (BL)

Government to offload 10% stake in MMTC this fiscal. (FE)

Inflation for the week ended September 12 rises to 0.37% from 0.12% in previous week. (ET)

According to trade Minister Anand Sharma, India's exports fell an annual 19.7% in August. (FE)

The government is considering increasing maximum area of iron ore mining from 25sqkm to 100sqkm. (ET)

RBI has asked banks to meticulously assess the inherent group risk on borrowal accounts coming under real estate category. (BL)

Centre plans to extend duty free imports of refined sugar beyond November. (BL)

India’s oil product consumption grew by 6.2% yoy in August. (BL)