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Global News
 Japan’s exports grew at the slowest pace this year in August
as a decrease in global demand and an advance in the yen threaten to
undermine the nation’s recovery.



Corporate India News

 Bharat Heavy Electricals Ltd. is in talks with the Steel
Authority of India Ltd. and Vizag Steel on forming a joint venture to
manufacture high-grade steel in India.
Impact: Positive

 Bharat Petroleum Corp. plans to spend 200 billion rupees ($4.4
billion) to expand its oil processing capacity by almost 50 percent.
Impact: Positive

 Gammon Infrastructure Projects Ltd. may raise as much as 2
billion rupees selling stakes in Indian port developments and road
projects by March 31.
Impact: Positive

 Hindustan Construction Co. won two contracts worth 6.6 billion
rupees from GMR (Badrinath) Hydro Power Generation Pvt. for a project
in North India.
Impact: Positive

 India’s consumer affairs ministry approved Reliance-Anil
Dhirubhai Ambani Group’s proposal to buy a 26 percent stake in Indian
Commodity Exchange Ltd. from Indiabulls Financial Services Ltd.

 Indian Hotels Co. plans to set up at least three hotels in
China soon. Contracts to manage two hotels have already been signed,
and another is expected soon.
Impact: Positive

 Reliance Power Ltd. is speeding up the construction of railway
lines from coal mines to ports in Indonesia. Coal extracted from the
mines is meant for the company’s proposed power plant in Krishnapatnam
town, southern India.
Impact: Positive

 Satyam Computer Services Ltd. said its American depository
receipts will move from the New York Stock Exchange and may trade in
the Over-the- Counter market.

 RIL plans Rs. 40000 crore investment to set up a cracker unit
and coke gasification plant by 2014 as part of its expansion drive

 Balrampur Chini Mills Ltd. and Shree Renuka Sugars Ltd. were
raised to “overweight” from “underweight” at Morgan Stanley with a
price target of Rs. 129 and Rs. 109.
Impact: Positive

 Tata Steel Ltd., Steel Authority of India Ltd. and JSW Steel
ltd., may raise prices by as much as 4 percent next month because of
lower imports from China and a surge in rural demand
Impact: Positive

 L&T's shipping arm, L&T Shipbuilding, has earmarked ~Rs 15bn
to develop ~800 acres of land in Chennai for expanding its vessel
building capacity.
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