ONGC may see action

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COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA
INDIA MAY TAKE TWO YEARS TO GET BACK TO 9% GROWTH

Updated: 23/06/2009 | 12:00 AM IST

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ONGC may see action

Capital Market

Tuesday, June 23, 2009 (New Delhi)

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Oil and Natural Gas Corporation (ONGC) has reportedly struck oil and gas in three new blocks. One of these, a gas find off the eastern coast of India, could prove as rich as the Reliance Industries' D-6 block. The other two discoveries included an oil find in Charada-3 offshore block in Cambay basin and oil and gas find in Matar in Vadodara district, both in Gujarat.

Telecom players Bharti Airtel and Reliance Communications have reportedly joined the race to acquire the African business of Kuwait-based Zain Group. According to reports, Bharti Airtel and Reliance Communications have joined French company Vivendi, which is still locked in discussions with the Kuwait group for a business valued at $12 billion.

IFCI is reportedly exploring options to rope in a strategic investor by issuing convertible instruments or by facilitating the acquisition of 26% equity from existing partners.

Power Grid Corporation of India reportedly plans to raise about Rs 3000 crore through a public offering.

The board of Gremach Infrastructure Equipments & Projects will meet on 27 June 2009, to consider raising funds. The funds will be raised through global depository receipts, American depository receipts or a qualified institutional placement.

NTPC is buying a 44.6% stake in Transformers and Electricals Kerala from the Kerala state government. The country's largest power producer said the stake was valued at Rs 31.34 crore, although the final price was subject to valuation of assets as at end March 2009. Transformers and Electricals Kerala makes and repairs heavy duty transformers.

Hindustan Dorr-Oliver won Rs 53.05 crore order from HPCL-Mittal Energy for 30 MLD raw-water treatment plant. The project will be executed in 14 months and Engineers India will be the project management consultants, the company said in a statement.

Siemens won a order worth Rs 112 crore from Vedanta Aluminium Ltd to provide high voltage power distribution systems. The order includes design, engineering, supply and installation of 33 kilovolt (kV) and 11kV electrical distribution system for Vedanta's Orissa smelter expansion, scheduled to be completed by 2010, the company said in a statement.

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