Thursday, May 19, 2011

Marke Commentary ..

±  Reliance Industries has approached the Securities & Exchange Board of India for the third time seeking an out-of-court settlement for charges of insider trading.(ET)
±  L&T has bagged a Rs14.5bn offshore process platform contract from the Gujarat State Petroleum Corporation. (BL)
±  The power evacuation facility for the ONGC's 727 MW gas-based power station in Tripura is expected to get delayed. (BL)
±  ONGC Videsh has entered into an MoU with Uzbekneftegaz, the national oil company of Uzbekistan for joint cooperation in the upstream E&P sector of Uzbekistan as well as third countries. (BS)
±  Reliance ADAG Group to invest between US$5bn and US$10bn in mining infrastructure in Indonesia as stated by the Indonesian government. (BS)
±  Coal India board has referred the proposal to pick up a 15% stake in US based Peabody Energys $600-million Wilkie Creek mining project in Australia to the coal ministry.(ET)
±  Dabur to set up 2 factories and introduce more products in Africa as a part of goal to almost doble its profit in three years.(ET)

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