Stocks in Action for the day: Ranbaxy, RIL, Unitech, Parsvnath under pressure for sell while, Pyramid Saimira & Jindal Poly will be in action for Buy

Indian ADRs: Tata Motors up 12%, Wipro up 4%, Satyam down 5%, HDFC Bank down 2%
SBI cuts BPLR by 75 bps to 12.25% w.e.f. January 1, 2009

HDFC reduces PLR by 50 bps

Union Bank cuts deposit rates by 75-150 bps w.e.f January 1

Telecom Commission rejects TRAI proposal for 2% additional levy on 3G operators: Sources

Exclusive: Banks' exposure limits to infrastructure projects may be relaxed: Sources

Centre seeks imposition of 19% CVD on import of long steel items – ET

Bajaj family likely to settle dispute, announcement expected in next 10 days: BS

Fortis plans rights + warrants issue of Rs 1800 - 2000 crore ((for acquisitions)): BS

Ranbaxy may sell 3 plants in Asia to rationalize costs, 3 plants could be valued at $ 25-30 million – ET

US puts pressure on Reliance Industries, RIL to stop gasoline sales to US: ET

ITC, Accor in the race to acquire 6 hotel properties owned by Unitech: ET ((Unitech reported to sell hotels several times before))

Unitech sells Gurgaon hotel for Rs 265 crore: DNA money

REL (Reliance Energy, now it is Reliance Infrastructure) contests RBI’s FEMA violation charge; RBI has asked company to pay Rs 125 crore as compounding fees: ET

Parsvnath Developers puts 12 SEZ projects on hold: Reports

SEBI asks Pyramid Saimira promoter to make open offer at Rs 250 or more (CMP Rs 75) – ET

AP to review fund raising capacity of Maytas Infra for its Rs 1590 crore deep water port project: DNA money

ACC puts on hold its Rs 600 crore ready mix concrete expansion plans. - ET

Alert: Taj & Trident reopen on Sunday

ECB window could be opened for realty firms: FE

Distilleries of Bajaj Hindustan, Dhampur sealed in UP: FE

Sun Pharma extends offer to buy Taro to January 9, 2009

Aurobindo Pharma to buyback portion of FCCBs ((has outstanding $200 million FCCBs, which mature in May, 2011))

Jindal Poly buyback opens today, CMP Rs 153 ((Max price Rs 350, max issue size Rs 150 cr))

Ceat cuts tyre prices by 6.6–7.6% with immediate effect

Shoppers Stop extends option of acquiring 51% in HyperCity Retail to June 30 from December 31 ((has already acquired 19%))

Supreme Petrochem buyback offer of up to Rs 14/sh, opens December 24 ((CMP Rs 11.7))

Board meets:
-JP Associates to consider amalgamation of companies having synergy with itself