News:
Ø TCS has bought French firm Alti SA for over ?75 million (Rs.530 cr) in a deal aimed at giving the Indian company an edge in the European market.
Ø The Supreme Court today asked a host of companies including Vedanta, Adani and Tata Steel and Essar Steel to pay up 50% of the tax demanded by the state of Odisha by way of entry tax for now.
Ø Reliance Communications is likely to complete its deal to sell 74 percent stake in subsidiary Reliance Globalcomm to Bahrain Telecommunication Co (Batelco) for around Rs.6,000 crore by first week of May.
Ø The RBI is not in favour of auctioning bank licenses as it will deter the cause of financial inclusion, Governor D Subbarao told a parliamentary panel on new banking licenses.
Ø Cairn India has reported another oil discovery in the prolific Barmer block in Rajasthan.
Ø Reliance Industries has discovered a new reservoir of natural gas below its existing fields in the KG-D6 basin, raising prospects that output from the region will rise again after a long period of decline.
Ø ONGC has signed a MoU with KK Birla Group Company, Chambal Fertilisers and Chemicals for setting up a fertiliser unit in Unakoti district. The estimated cost of the project for producing 1.3 million tonne of fertiliser per annum is Rs.5,000 crore. The construction of the plant would be completed by 2016.
Ø Dr Reddy's Laboratories is setting up a new R&D centre in Princeton, New Jersey.
Ø Reliance Infrastructure will slash power tariff by 37% to keep supplying to the Goa government as the state threatened to suspend the power purchase from the company citing unviable pricing.
Ø Jindal Stainless has entered into a strategic agreement with Korean steelmaker Posco, which will help JSL stabilise production of alloy used in cars and home appliances.
Ø Merck sought HC's order to restrain Glenmark from manufacturing & sale of anti-diabetes drugs Zita & Zita-Met.
Ø eClerx Services board approves buy-back of shares up to 10%.
Ø Ansal Housing to announce Bonus in ratio of 2:1 today.
Key events for the day:
Ø Power, Coal Officials to meet FM on price pooling today.
Ø United Spirits open offer commence today, closes on 26th April 2013(offer at Rs.1440/share).
Ø Release of EUR Industrial Production m/m.
Ø Release of USD Crude Oil Inventories, 10-y Bond Auction & Federal Budget Balance.
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