Stocks in Action for the day: Satyam, L&T, IFCI, Patni, Tata Steel

Indian ADRs: Satyam up 9%, ICICI Bank up 6%, HDFC Bank up 5%, Tata Motors down 1%

SEBI on Satyam: -Difficult To Estimate Actual Size Of Scam; Reviewing Details Of Bank Deposits. -Not Yet Formally Ordered Investigation Against Maytas

SEBI's Satyam Probe; Sources Say
-No Money As Reflected In FD Receipts In Bk A/cs In Past 6 Qtrs
-Auditors Did Not Verify Fixed Deposit Receipts With Banks

Satyam update:
-PC Gupta Says Govt Directed By CLB To Get Bank A/c Details Of Raju/Vadlamani
-Kiran Karnik Says Got Contract Termination Notices From 2 ‘Large’ Clients
-Satyam Says Promoter Stake In Co At 2.18% As On Dec 31: NW18

L&T To present revival plan to Satyam board, will put a bid only once auditors KPMG and Deloitte come out with re-stated results – ET

IFCI emerges as largest shareholder in Maytas after shares were transferred in favour of advisory firm through invocation of shares – DNA

Sicom gets 7% of Maytas through invocation of shares

General Atlantic, Patni may join hands for Satyam bid – ET

Raman Roy led Quatrro joins race to acquire Satyam’s BPO arm – ET

Tata Steel to sell Corus' aluminium smelters to Briand Investments

Vijay Mallya’s son joins Diageo’s London office, move a precursor to Diegoe picking stake in United Spirits – ET

HCC plans IPO of Lavassa by 2010 – BS

SCI-ONGC JV for rig building fails to take off as crude prices plummet – BS

Omaxe pays Rs 21 cr to Indiabulls in Dec, manages to repay Rs 200 cr out of the total loan of Rs 300 cr – FE

IFCI emerges as largest shareholder in Maytas after shares were transferred in favour of advisory firm through invocation of shares – DNA

Indiabulls Financial releases 2.32% capital or 15.5 lakh shares of Akruti City held under pledge

Austin Engg buyback up to Rs 65/sh ((CMP Rs 51))

Alert: Akruti still in NSE F&O curb