Stocks in Action for the day: Unitech, RIL, Sasken Comm, Rel Cap; Maytas Infra, Pantaloon

ADRs update: Wipro down 7%, Satyam down 6.8%, Tata Motors down 6%, HDFC Bank down 5%

Results Today: TCS, PFC, Bajaj Finserve, HOEC, IndusInd Bank, Infotech Enterprises, JK Lakshmi Cement, Vishal Info Tech, Bongaigaon Refineries

RIL categorically deny rumours of out-of-court settlement or negotiations with RNRL, says rumours of settlement Unsubstantiated & Baseless (The entire Reliance pack was buzzing on settlement rumours)

Nortel files Chapter 11 bankruptcy protection: Nortel says: Operations expected to continue without interruptionSufficient cash on hand to fund ongoing operations Companies impacted: Sasken, Infosys, Wipro
Alert: Nortel holds 9.5% stake in Sasken Comm

Reliance Capital gets nod for setting up housing finance, NBFC arms: NW18

Maytas Infra may sell assets to raise funds, in talks with Nagarjuna and Ramky Infra – ET (Other reports suggest Maytas Infra and Maytas Properties will be attached to protect Satyam shareholders)

SEBI Sources say: SEBI seeks explanation from all erstwhile independent Directors of Satyam. SEBI asks for written response to the proceedings of December 16-board meet. SEBI seeks details of 'whatever transpired' at the board meet. Even those not present physically & were on tele/video link questioned

Fitch downgrades Unitech, says doubtful of company's repayment ability to refinance debt obligations

Price Waterhouse withdraws opinions on Satyam's financial statements

Regional UL media roots for JLR bailout – ET

Steel companies raise output as demand picks up – ET

Pantaloon sales dip for first time in 4 years, Biyani expected double digit sales growth in January – BS (Stock was down 5% yesterday)

International Tobacco players lobby against government move to ban FDI in tobacco – BS

Wockhardt signs in licensing agreement with Swiss firm to market Bonistein, patent product for Osteoporosis (Anti osteoporosis market in India is worth over Rs 250 crore growing at 19%)

Thomas Cook Rs 199.8 crore rights issue closed

MVL allots 5 lakh Fully convertible debentures of Rs 100 each to HT Media on a preferential basis

Vishal Info tech to mull stock split of 10:1 on January15. (Stock was up 10% at Rs 318)

Result Updates:

Honda Siel Q3: Net Sales: Rs 48.94 crore versus Rs 64.4 crore Down by 24%
Operating Profit: Rs 2.84 crore versus Rs 9.86 crore Net Profit: Rs 2.65 crore versus Rs 7.22 crore

Supreme Ind Q3: Net Sales: Rs 351.4 crore versus Rs 288 crore Up by 22%
Operating Profit: Rs 17.3 crore versus Rs 30.3 crore Net Loss: Rs 1.5 crore versus Net Profit: Rs 13 crore