News:
Ø The Supreme Court has allowed Bharti Airtel to continue offering 3G services in seven regions for the next few days, and in a separate case said it would decide next Monday whether the company's founder and chairman, Sunil Mittal, should be summoned as accused in the excess spectrum case.
Ø Aditya Birla Nuvo has decided to sell its carbon black business to a group company, SKI Carbon Black (India), for Rs 1,451 Cr, as part of its plan to exit the business in the near future.
Ø Barmer oil fields in Rajasthan may hold more reserves than initially assessed, feels the operator Cairn India. Also Cairn India is keen to start city gas distribution in Rajasthan as it sees huge natural gas potential in its block.
Ø Reliance Industries (RIL) has stopped gas supplies to power plants after its KGD6 output hit an all-time low.
Ø Coal India chairman defends company arm, says non-payment is putting a severe strain on ECL.
Ø Engineering major ABB is preparing for the turnaround in the Indian market and will keep investing $100 million a year even though power equipment makers are facing difficult times.
Ø Moser Baer defers bondholders' meeting for mulling FCCB recast.
Ø Shriram Transport Finance to raise Rs 1000 Cr via NCD
Ø Maharashtra Seamless board approves buy-back at max Rs 300/sh (CMP 215)
Ø Panama Petrochem board OKs buyback at Rs.160/sh (CMP 135).
Ø Union Bank labels Bilcare as willful defaulter, to send winding up notice to the company.
Ø ONGC, Gail, RIL-BP, Petronet LNG and Torrent Power eyes 25% stake in GSPC LNG.
Ø Today is the Ex date for Scheme of Arrangement. Demerger of Wipro Consumer Care & Lighting and Wipro Infrastructure Engineering & Medical Diagnostic Product & Services from Wipro into Wipro Enterprises. April 11 has been fixed as the record date for the demerger, which is effective March 31.
Key events for the day:
Ø Mahindra Holidays IPP Opens and closes today. Price band Rs 255 - 265, to issue Rs 41.41 lakh shares
Ø Release of Manufacturing Production & Industrial Production data in UK.
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