Tata Motors may see action

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
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%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
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)

Updated: 23/10/2009 | 12:00 AM IST

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Friday, October 23, 2009 (New Delhi)

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The service tax department in Mumbai, a wing of the Central Board of Excise and Customs (CBEC), has issued a show-cause notice to Tata Motors, relating to a potential service tax liability of Rs325 crore for five years between 2004-05 and 2008-09. CBEC is the apex body that regulates and administers collection of indirect taxes.

Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation have reportedly recovered their entire losses of Rs 3,400 crore incurred on petrol and diesel from their upstream counterparts. While the Oil and Natural Gas Corporation (ONGC) has contributed a lion's share of Rs 2,600 crore, Oil India and GAIL (India) have made good the balance Rs 800 crore. This has come by way of discounts on crude and products supplied to the three refiners.

Infosys Technologies' co-founder and chief mentor N R Narayana Murthy, on Thursday, sold Infosys shares worth Rs 180 crore to start a venture capital firm that would fund start-ups mainly in India. Murthy on Wednesday and Thursday sold a combined eight lakh shares of Infy to raise money to fund VC firm. The number of shares owned by him in the company now stands reduced to 23.8 lakh valued at Rs 526 crore at Thursday's closing price of Rs 2,211. The Murthy family's combined holding is around 5% with his wife Sudha owning the largest chunk. Murthy's individual holding in Infy which has been less than 1% for a while now stands reduced to 0.4%.

Wipro has bagged a 10-year total outsourcing contract from Delhi International Airport Ltd (DIAL) to provide information technology infrastructure and services for Indira Gandhi International Airport (IGIA). The award followed a globally competitive process which attracted several global and Indian IT partners. The company, however, declined to disclose the value of the contract.

The board of Everonn Education has approved increasing the investment limit of foreign institutional investors (FIIs) up to 100% of paid-up capital of the company.

Pfizer has approached several Indian drugmakers such as Zydus Cadila, Emcure, Intas Pharma and Mankind Pharma for possible alliances to try and bolster revenues threatened by the expiry of patents on key blockbuster drugs in the next three years.

Jaiprakash Associates and JSW Steel have urged the Reserve Bank of India to relax rules governing the repayment of foreign borrowings, after having failed to meet the terms on their overseas loans.

Petronet LNG is reportedly set to pick up a 10% stake in ONGC Petro Additions, which is setting up a Rs 12400 crore petrochemical complex in Gujarat. The deal size is estimated at Rs 400 crore.

Bharat Heavy Electricals, ITC, Punj Lloyd, IDFC, Dr Reddys Laboratories, Indian Bank, Bharat Forge, Zee Entertainment, 3i Infotech, HCC, Titan Industries, Pantaloon Retail, Edelweiss Capital, TVS Motor Company, JSW Steel, Zee News, Titagarh Wagons, GSK Consumer, SKF India, Bata India, Binani Industries, Kirloskar Oil Engines, Ponni Sugars, and Century Textiles, will declare their September 2009 ended quarter results today, 23 October 2009.

Net profit of Asian Paints rose 108.96% to Rs 254.32 crore in the quarter ended September 2009 as against Rs 121.71 crore during the previous quarter ended September 2008. Sales rose 18.61% to Rs 1386.46 crore in the quarter ended September 2009 as against Rs 1168.97 crore during the previous quarter ended September 2008.

Reliance MediaWorks reported net loss of Rs 6.99 crore in the quarter ended September 2009 as against net loss of Rs 19.00 crore during the previous quarter ended September 2008. Sales declined 48.03% to Rs 102.29 crore in the quarter ended September 2009 as against Rs 196.82 crore during the previous quarter ended September 2008.

Net profit of Raymond declined 69.47% to Rs 7.43 crore in the quarter ended September 2009 as against Rs 24.34 crore during the previous quarter ended September 2008. Sales declined 8.10% to Rs 398.54 crore in the quarter ended September 2009 as against Rs 433.65 crore during the previous quarter ended September 2008.

Net profit of Hindustan Zinc declined 2.56% to Rs 934.95 crore in the quarter ended September 2009 as against Rs 959.51 crore during the previous quarter ended September 2008. Sales rose 2.62% to Rs 1789.59 crore in the quarter ended September 2009 as against Rs 1743.84 crore during the previous quarter ended September 2008.

Net profit of Bhushan Steel rose 32.31% to Rs 189.16 crore in the quarter ended September 2009 as against Rs 142.97 crore during the previous quarter ended September 2008. Sales declined 14.32% to Rs 1298.48 crore in the quarter ended September 2009 as against Rs 1515.49 crore during the previous quarter ended September 2008.

Net profit of Edserv Softsystems rose 251.33% to Rs 3.97 crore in the quarter ended September 2009 as against Rs 1.13 crore during the previous quarter ended September 2008. Sales rose 350.81% to Rs 11.18 crore in the quarter ended September 2009 as against Rs 2.48 crore during the previous quarter ended September 2008.

Net profit of Kirloskar Brothers rose 41.50% to Rs 33.14 crore in the quarter ended September 2009 as against Rs 23.42 crore during the previous quarter ended September 2008. Sales rose 30.38% to Rs 548.15 crore in the quarter ended September 2009 as against Rs 420.43 crore during the previous quarter ended September 2008.

Net profit of Noida Toll Bridge Company declined 32.48% to Rs 5.03 crore in the quarter ended September 2009 as against Rs 7.45 crore during the previous quarter ended September 2008. Sales rose 5.59% to Rs 20.78 crore in the quarter ended September 2009 as against Rs 19.68 crore during the previous quarter ended September 2008.

Net profit of Tata Coffee declined 8.27% to Rs 6.99 crore in the quarter ended September 2009 as against Rs 7.62 crore during the previous quarter ended September 2008. Sales declined 14.91% to Rs 84.62 crore in the quarter ended September 2009 as against Rs 99.45 crore during the previous quarter ended September 2008.

Net profit of Hanung Toys and Textiles declined 4.06% to Rs 18.65 crore in the quarter ended September 2009 as against Rs 19.44 crore during the previous quarter ended September 2008. Sales rose 12.05% to Rs 182.61 crore in the quarter ended September 2009 as against Rs 162.97 crore during the previous quarter ended September 2008.

Spice Communications reported net loss of Rs 62.45 crore in the quarter ended September 2009 as against net loss of Rs 81.03 crore during the previous quarter ended September 2008. Sales rose 9.98% to Rs 339.06 crore in the quarter ended September 2009 as against Rs 308.29 crore during the previous quarter ended September 2008.

Rama Newsprint & Paper reported net loss of Rs 13.57 crore in the quarter ended September 2009 as against net profit of Rs 1.57 crore during the previous quarter ended September 2008. Sales declined 25.68% to Rs 73.27 crore in the quarter ended September 2009 as against Rs 98.59 crore during the previous quarter ended September 2008.

Net profit of Garware-Wall Ropes declined 38.90% to Rs 4.90 crore in the quarter ended September 2009 as against Rs 8.02 crore during the previous quarter ended September 2008. Sales declined 6.86% to Rs 108.20 crore in the quarter ended September 2009 as against Rs 116.17 crore during the previous quarter ended September 2008.

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