Indian ADRs: HDFC Bank, Tata Comm up 12%, ICICI Bank up 11%, Sterlite down 3%
Satyam :-Calls off deal to buy Maytas Infra & Maytas Properties
-Management says deal off in deference to views expressed by investors
-ADR recovers to $8.9 in after hours; had fallen to $5.7 from $12.5
Morgan Stanley PE fund buys 30% in Biotor for Rs 200 crore – TOI (Unlisted co- likely to see rub off effect on Listed co Gokul Refoils)
Mumbai based Standard Greases buys 12% in Tide Water – TOI (Andrew Yule is looking to divest its stake in company and is likely to call for bids next year)
Airlines may cut fares after ATF price cut by 11%
Uniform entry load for MF investors on the cards – ET
UB may bid for UK assets of Cobra Beer
Elder Pharma inks pact with Aussie firm to market pain management products in India
Geojit Financial open offer by BNP starts on December 22 and closes on January 10
ABG Shipyard faces Rs 1000 crore order cancellation by a Norway based company – BS
JP Associates board meet on December 22 to consider amalgamation of companies having synergy with itself
Colgate board approves merger of wholly owned subsidiary SS Oral Hygiene Products with itself
Vardhman Textiles board meet on December 24 to consider buyback of FCCBs
Kesoram Industries to shut OEM operations in Orissa from December 17-31
UCO Bank to Cut BPLR by 100 bps from January 1: NW18
Wednesday, December 17, 2008
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