News:
Ø Reliance Jio Infocomm, the telecom arm of RIL, will get access to Reliance Communications' national and international optic fibre for an up-front payment of Rs.1,200 Crs. The amount will be paid to RCOM as soon as it readies the network for RIL's use.
Ø US-based MSD Pharma, has asked the Delhi High Court to bar Glenmark from selling two popular anti-diabetic drugs, triggering yet another legal battle between an Indian generic company and a member of Big Pharma.
Ø Cash-Rich Piramal Lines Up Big Infra Play Set to invest over Rs.1,000 Crs in road and renewable energy projects.
Ø A Metropolitan Magistrate court in Mumbai has summoned the top management of logistics major Arshiya International for non-payment of dues to lessors.
Ø ONGC Videsh, the overseas arm of state-owned ONGC, aims to raise up to $1 billion through a dollar issue this month to fund its recent acquisition in Azerbaijan.
Ø NTPC signed three loan agreements aggregating to Rs.1,870 Crs with Punjab and Sindh Bank (Rs.570 Crs), Andhra Bank (Rs.300 Crs) and Canara Bank (Rs.1,000 Crs) recently".
Ø Kirloskar Brothers Limited (KBL),has signed a memorandum of understanding with Mechanical and Electrical Department (MED) and Ministry of Water Resource and Irrigation of Government of Egypt to train MED's engineers and technicians.
Ø Govt Likely to Re-tender Road Projects Dumped by GMR & GVK.
Ø Hero MotoCorp commenced exports to Africa, Latin and Central America.
Ø The CAG is likely to resume audit of Reliance Industries' spending on the KG-D6 gas block as issues over scope of the scrutiny are "more or less resolved".
Ø IMFA, has adopted a new organisation structure. The new structure entails two business units – one for ferro alloy and another for power. Company's captive chromite mining activity will now come under the ferro alloys business unit.
Key events for the day:
Ø Timken India IPP opens and closes today. Promoters to sell 42.65 lakh shares, price band Rs 115-120/shares.
Ø Release of in CPI Flash Estimates Euro Zone.
Ø Release of Construction PMI in UK.
Ø Release of ADP Non-Farm Employment Change, ISM Non-Manufacturing PMI, Crude Oil Inventories in US.
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