Electrotherm India, Rolta India, Wipro may see action

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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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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
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
ISSUES REGULATORY FRAMEWORK FOR AUTHORISED PERSONS
AUTHORISED PERSONS CAN FACILITATE TRADING THROUGH BROKER TERMINALS
STOCK BROKERS TO SEEK SEBI APPROVAL FOR APPOINTING AUTHORISED PERSONS
NO PLANS TO OFFER HOME LOANS AT 8%: NW

Updated: 30/12/2008 | 12:00 AM IST

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Tuesday, December 30, 2008 (New Delhi)

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The board of Electrotherm India has approved spinning off its engineering business into a new entity - Electrotherm Engineering & Projects.

Reliance Communications has reportedly raised $1.5 billion from international export development banks at less than prevailing commercial interest rates to fund the rollout of its national GSM services.

Wipro is reportedly scouting for IT firms servicing oil, telecom and healthcare industries.

Rolta India has acquired US-based Piocon Technologies, which provides solutions to oil and gas refineries.

IDBI Bank has reportedly put its home finance unit for sale to raise Rs 200 crore and is reported to be in talks with Tata Capital, Edelweiss, Religare Enterprises and two private equity investors.

Shriram EPC reportedly expects the number of steel-related projects coming its way to slow down in the coming months due to production cuts in the sector and deferment of expansion plans.

Jai Balaji Industries has reportedly cut investment target for its proposed steel plant in West Bengal by 30% to Rs 16000 crore due to a drop in commodity prices.

Idea Cellular reportedly plans to invest Rs 300 - Rs 400 crore over the next 15 months to enhance network coverage in Karnataka.

Reliance Money, controlled by the Anil Dhirubhai Ambani Group, and Financial Technologies are reportedly exploring the option of setting up their own equity exchanges.

Four companies including Tata Power and Larsen & Toubro reportedly chose not to bid for the Rs 16000 crore ultra mega power project in Tilaiya, Jharkhand even as Reliance Power, Lanco Infratech and NTPC submitted their technical bids.

The combined operating loss for direct-to-home players such as Dish TV, Tata Sky, Big TV and Sun Direct for 2008/09 may double, crossing Rs 2000 crore.

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