Larsen & Toubro, Reliance Communications, MTNL may see action

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
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INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 05/12/2008 | 12:00 AM IST

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Friday, December 05, 2008 (New Delhi)

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Larsen & Toubro has reportedly deferred its entry into the commercial shipbuilding business and has also decided to scale back its investment for a new shipyard near Chennai.

The communications ministry will reportedly refund about Rs 112 crore to Reliance Communications, which it had paid as part of the entry fee while taking approval for offering dual technology in 2007 as it is surrendering the permission for the technology in six circles.

Mahanagar Telephone Nigam (MTNL) is reportedly set to launch mobile video surveillance services on 11 December 2008, a month ahead of a process to offer private firms 3G licences.

Tata Steel is reportedly planning to reduce its headcount by more than 7,600 by 2010 from mechanisation of plants, outsourcing work and the closure of some units among other rationalisation measures. The current strength is nearly 31,500.

Glenmark Pharmaceuticals has reportedly filed counterclaims in the US district court of New Jersey, claiming two patents of Teva Pharmaceutical Industries for making the cardiac drug carvedilol, are invalid and unenforceable.

Kingfisher Airlines said on Thursday, 4 December 2008 it would start daily flights from Mumbai to London from 5 January 2009. This would be the second international route to be operated by the airline following the launch of its Bangalore-London sector in September 2008. Kingfisher on Wednesday, 3 December 2008 said it had received approval from the federal government to operate flights on nine international routes, including Mumbai-London.

State Bank of Mysore said on Thursday, 4 December 2008 will meet on 6 December 2008 to consider the record date for splitting its shares. In May 2008, the board had approved splitting each share into ten.

Wockhardt said on Thursday, 4 December 2008 its US subsidiary, Morton Grove Pharmaceuticals, received US FDA approval to market augmentin suspension, a pediatric drug. The drug is used to treat several common infections, especially in children. The company intends to launch the product in the US in the third quarter of 2009, it said in a statement.

Ashok Leyland, which makes trucks and buses, on Thursday, 4 December 2008 said its domestic sales tumbled 66.7% to 1,788 units in November 2008 over November 2008.

NMDC said on Thursday, 4 December 2008 it has decided to cut prices of iron ore products by about 25%, with effect from 1 December 2008.

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