± With an eye on having a global footprint as well as securing supplies of key raw material like coking coal and iron ore, SAIL is looking at building steel plants abroad. (FE)
± Hero Group says its exposure in the alleged financial fraud at Citigroup was Rs287.5mn. (ET)
± ICICI Bank raised its base rate 50bps to 8.25% and PLR by 25bps to 17%. (ET)
± BHEL is exploring the possibility of setting up an assembly unit in Indonesia to grab a sizeable market share of the growing demand for power equipment in the South-East Asian country. (BL)
± HDFC Bank decided to increase its base rate by 25bps to 7.75% effective January 1. (ET)
± Tata Motors hiked the prices of some its passenger vehicles and all of its commercial vehicles by a range of Rs3,000-30,000. (BS)
± Tata Steel plans to ink an agreement with Japan-based Nippon Steel by end-this month to set up a Rs24bn steel plant for producing auto-grade steel. (BS)
± JSW Steel emerges the highest bidder for debt-laden Bellary Steel & Alloys. (BS)
± Jindal Steel & Power plans to build its first oil refinery to expand its energy business in the domestic and overseas markets. (BS)
± ICICI Bank is keen to acquire more local banks to expand in the smaller towns in India. (ET)
± Marg is planning to hive-off its residential projects business to a wholly-owned new subsidiary Marg Properties. (BS)
± PNB has said that it plans to enter the life and general insurance business and has appointed Boston Consulting Group as its adviser. (TOI)
