Business news tablet........

[RAJESH DESAI]

Morning News (click on link to read article)

Economic Times		Business Standard
Ø  RBI's draft exposure norms to affect banks' investment in subsidiaries Ø  Europe needs 'years and years' to fix economy: Timothy Geithner Ø  NTPC invites bids for 7 million tonnes of imported coal Ø  'RIL may shut KG D6 gas fields in 2015-16' Ø  Govt to cap ONGC and OIL's subsidy contributions Ø  Q2 may turn out to be another subdued quarter for the Indian capital goods industry		Ø  Govt may have to take Rs 40k-cr hit Ø  Govt caps upstream oil cos' subsidy share at $56 per barrel Ø  FIIs net buy Rs 614cr, DIIs net sell Rs 431cr Ø  Britain likely to cut 1 billion pound aid bill to India Ø  Sebi exempts shareholder from complying with open offer rules Ø  Rupee falls for 3rd day, importers buy dollars
Business Line		Mint
Ø  ONGC to drill for hot water in Cambay Ø  IRB Infra buys unlisted MVR Infrastructure Ø  Tata Elxsi, US firm A Squared end joint venture Ø  R Power raises Rs 1,588-cr to fund Rajasthan solar project Ø  Vijay Mallya, Chhabria to settle pending lawsuits Ø  Mirae Asset buys over 58,000 Shree Cement shares		Ø  RBI says aware of risks from big firms starting banks Ø  Shipping industry to start recovering from mid-2013: SCI Ø  Sanofi introduces India’s first indigenous insulin pen Ø  Irda issues fresh draft guidelines on bancassurance Ø  Rs.2,500 cr RINL IPO deferred on valuation differences Ø  Educomp wants to raise money again
Financial Express		Financial Chronicle
Ø  Govt weighs ordinance to speed up new bank licences Ø  India reforms agenda: US all praise Ø  Vedanta's Q2 iron ore sales down 86% Ø  Fined! ICICI Rs 30L, ING Vysya Rs 55L Ø  Lease rent revised: Maharashtra windfall Ø  'Shriram poised for strong growth'		Ø  Geithner welcomes India's new drive for reform Ø  M&A value drops nearly 50% to $3.4b in Jul-Sep Ø  Ranbaxy launches generic version of Evoxac in US market Ø  Rangarajan to recommend price for coal-bed methane Ø  Apeejay-Eredene Capital JV to set up nine logistic parks in India

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CA. Rajesh Desai