Reliance Communications may reportedly partner with a sovereign wealth fund in Middle East and may directly buy a large equity stake in South Africa`s MTN, thereby emerging as the single-largest shareholder.
The government is reportedly considering liberalising the 10% mandatory cap on price hike for drugs outside the price control. Drugs outside the price control currently constitutes about 75% of the Rs 33000 crore drug retail market.
Videocon Group is reportedly interested in buying out greetings card maker Archies and has already picked up 4% stake from the open market in the last one month.
Anil Dhirubhai Ambani Group is reportedly picking up 26% stake with management control in a financial service firm in Saudi Arabia, which has been renamed as Riyada Reliance Money.
The government of the southern state of Karnataka is reportedly likely to scrap the proposed Rs 30000 crore petroleum, chemicals and petrochemicals project on the state`s coastline citing possible law and order problems arising from land acquisitions.
At least a dozen firms have reportedly shown interest to pick up stake in the petrochemicals project of Oil and Natural Gas Corporation in the western state of Gujarat. The company is also considering an equity tie-up with Petronet LNG, the reports added.
The Bajaj family reportedly plans to sell its entire 69.49% stake in material handling equipment maker Hercules Hoists for about $100 million. Some European and a US firm are interested in buying the stake.
Dabur India is reportedly increasing prices by 5% across product categories to accommodate the sharp rise in the price of flexible packaging material made of polymers.
The Employees` Provident Fund Organisation (EPFO) is reportedly planning to abolish State Bank of India`s 56-year old monopoly over its banking business due to growing differences between the two institutions.
National Aluminium Company reportedly plans to acquire 51% stake in Tajik Aluminium Company, which is owned by the Tajikistan government. The combined output of the two firms will be 800,000 metric tonnes.
Hinduja Foundries is reportedly close to acquiring two foundry companies in Europe and the acquisitions will be in the range of 300-500 million euros.
Oil and Natural Gas Corporation (ONGC) reportedly expects the cost of replacing its exploration and production infrastructure in the north-eastern state of Assam to double to around Rs 4000 crore due to rising steel prices.
The government reportedly plans to decontrol the sugar industry from the new crushing season beginning 1 October 2008. It is likely to dismantle the 10% levy on mills and the monthly release mechanism regulating the balance 90% free sale quota, the reports added.
Aditya Birla Nuvo will turn ex-dividend for a dividend of Rs 5.75 per share,
Bank of India will turn ex-dividend for a dividend of Rs 4 per share,
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