* JUBILANT ORGANOSYS: enters into drug discovery JV with UAB & Southern Research
Corporate News – Industry trends
* The Securities and Exchange Board of India has asked Reliance
Industries Ltd why the company should not be barred from accessing
the stock markets under rules governing fraudulent and unfair trade
practices, news agencies and television channels reported (BS)
* Arcelor Mittal India has sought approval for a six-mn tonne steel
plant in Karnataka from the single window clearance committee of the
state government, over and above the two 12-m tonne greenfield steel
plants in Jharkhand and Orissa already in the pipeline (BS)
* Sajjan Jindal-led JSW Energy will open its initial public offering
(IPO) on December 7, with the intent to raise Rs 27bn. The issue will
close on December 10. It will be the first IPO from the JSW group in 15
years (BS)
* HCL Technologies has signed a US$200 mn contract with British
insurer Equitable Life for providing end-to-end solutions to the latter,
including policy administration, finance, actuarial services, IT
operational support, quality assessment, data management and call
centre services (BS)
* Hindalco Industries, India’s largest aluminium maker, plans to sell
shares to institutional investors at Rs 130.90 each to raise Rs 29bn this
week. The board of directors met here today to fulfill the formalities
before the issue is opened (BS)
* DishTV, the country’s leading Direct-to-Home (DTH) operator, has
raised US$100 mn through the issue of Global Depositary Receipts
(GDRs) to Apollo Management, a leading alternative asset manager
(BS)
* Pantaloon Retail, the country’s largest listed retailer,raised Rs 5bn by
selling 15.8 mn equity shares to investors at Rs 316 a piece, the
company said in a statement to exchanges (BS)
* VODAFONE has warned against redistributing wireless spectrum that
has already been allocated to mobile phone firms, as the debate over
the overhaul of the rules for the telecom sector gets polarised between
established incumbents and aggressive younger rivals (ET)
* The country`s largest car maker, Maruti Suzuki India, said it will
launch a new van within this fiscal to replace its MPV Versa, whose
production has been stopped. "We will be launching a new van by the
end of this fiscal (ET)
* FIVE domestic commercial banks and two finance companies have
acquired 51% stake in the Indian venture of Experian UK —
Experian Credit Information Company (ET)
* Setting the stage for easier FDI norms in the real estate sector,
the Government is considering a proposal to do away with the threeyear
lock-in stipulation for repatriation of foreign investments in SPV
projects (BL)
* The Adanis-promoted Mundra Port and SEZ Ltd has been awarded
the Letter of Intent for development of non-LNG port facilities at
Hazira, the company announced here recently (BL)
* MNM said it could consider effecting a price hike due to rising input
costs (Mint)
* United Spirits announced the acquisition of Visakhapatnam-based
alcoholic beverages maker Tern Distilleries Pvt Ltd for Rs134.2 mn
(Mint)
* After hitting a trough last year when its two-wheeler sales recorded the
biggest fall in the industry, Pune based two-wheeler major Bajaj Auto
is looking to launch more products in the market in the near term in
the entry and premium class (BS)
Commodity/Money Market News
* After making the Centre back track on the state governments’ liabilities
over the state advised price of sugarcane, the Opposition pressed
the government to make further changes in the order notified on
October 22, to ensure farmers continued to benefit if sugar mills
registered “additional profits” (BS)
| NIFTY 
