Larsen & Toubro, Reliance Communications, MTNL may see action

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INDIA VICTIM OF TERRORISM FROM ACROSS BORDERS FOR THE LAST 25 YEARS
EDUCATION, HEALTH CARE SECTOR NEED MORE REFORMS
FDI INFLOWS OVER $120 BN SINCE 2001-02
GROWTH ESTIMATED AT 6.5% THIS FISCAL, TO WIND DOWN FISCAL STIMULUS NEXT YR
INDIA'S ECONOMY NOW MORE OPEN TO TRADE AND INVESTMENT
ECONOMY TO GROW ESTIMATED 6.5% THIS FISCAL
INDIA TO WIND DOWN FISCAL STIMULUS NEXT YEAR
TO LAUNCH A 3 SCREEN MULTIPLEX IN KANPUR
OCT STEEL SALES UP 38% AT 4.62 LAKH TONNES VS 3.35 LAKH TONNES (YOY)
OCTOBER CRUDE STEEL PRODUCTION UP 22% AT 599,000 TONS (YOY)
OCTOBER SAW THE BEST EVER PRODUCTION IN MOST UNITS
SMS BOS < space > stock query at 56388
CRUDE FALLS 2.6% TO $77.43 BBL
COPPER DOWN TO $6490/TON ON WEAK DEMAND AND US UNEMPLOYMENT DATA
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Stock updates: SMS STO followed by scrip name to 56388
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CO TO LAUNCH ITS 3 SCREENS MULTIPLEX IN KANPUR
DOW JONES UP 0.17%; NASDAQ UP 0.34%; S &P 500 UP 0.25%
RCOM LOSES 0.1%, SHEDS 23.5 LAKH SHARES IN OPEN INTEREST
IDEA LOSES 5.2%, ADDS 30.6 LAKH SHARES IN OPEN INTEREST
ASHOK LEYLAND GAINS 4.9%, ADDS 32.4 LAKH SHARES IN OPEN INTEREST
NIFTY CLOSES JUST BELOW 4800 AFTER A GAP UP OPENING
STRONG AT $1095/OZ AS SAFETY MEASURE POST RISE IN U.S UNEMPLOYMENT DATA
U.S UNEMPLOYMENT DATA AT 26 YEAR HIGH;CRUDE FALLS 2.6% TO $77.43 BBL
SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388

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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