* AUTOMOBILE: General Motors India faces a 110-mln-rupee penalty for corporate fraud. Toyota Kirloskar Motor has planned to cut production of assenger cars and utility vehicles at its Bidadi factory. KLT Automotive & Tubular Products will invest over 3.2 bln rupees in setting up two chasis manufacturing units in Chennai and Sri City in Tamil Nadu.
* BANKING: Government will take a view on the additional capital requirement of public sector banks depending on their individual credit growth during the
festival season, Financial Services Secretary Takru said. Reserve Bank of India has sought additional information from companies that have applied for banking license by the weekend.
* COAL: The Central Bureau of Investigation Tuesday filed in Supreme Court a status report on the progress on its probe into the coal block allocation
scam.
* COMMODITIES: India has imported 600 tn onion from China in the past two months amid spiralling domestic prices, Commerce Secretary S.R. Rao has said.
Mother Dairy will raise prices of all variants of milk by up to 2 rupees per ltr effective Wednesday. The government is mulling banning onion exports to contain rices. The government is considering duty hike for refined edible oil and a decision in this regard will be taken at the Cabinet Committee on Economic Affairs' next meet.
* CORPORATE: Ministry of Corporate Affairs has invited comments on the third set of draft rules for implementation of the Companies Act, 2013.
* EXPORTS: The government has asked MMTC and STATE TRADING CORP to act as front for exports to Iran and mask them as government shipments to evade western sanctions on that country.
* MINING: An association of workers employed in Goa iron ore mines has urged the Supreme Court to consider the impact of mining ban in the state on the
their livelihood.
* MUTUAL FUNDS: UTI's board is likely to meet today to appoint former Life Insurance Corp of India chief D.K. Mehrotra as UTI Asset Management Co's
non-executive chairman.
* PHARMACEUTICAL: Private equity firm Actis has bought significant stake in Indore-based Symbiotec Pharmalab for $48 mln. According to analysts, pharmaceutical companies such as CIPLA, TORRENT PHARMACEUTICALS, and Mankind Pharma have raised trade margins for stockists and retailers to 10% and 20%, respectively, from 8% and 16%.
* REGULATORS: The SEBI-mandated National Securities Depository and Central Depository Services to jointly create centralised database of corporate bonds and debentures.
* STEEL: World crude steel production increased 6.1% on year to 133 mln tn in September, according to the World Steel Association.
* STOCK MARKET: National Stock Exchange has lifted the ban on 26 entities, including GITANJALI GEMS' promoter Mehul Choksi and firms linked to
Prime Broking, from trading in the securities market.
* TELECOM: Nimbuzz has entered into a partnership with Spectranet to offer calling service that will allow users to make international voice calls at
1 paisa per second. The telecom department may hold the 2G spectrum auctions in a two-stage bidding process to charge a premium for a contiguous band of bandwidth. Loop Mobile has been asked by its lenders to sell its towers and real estate assets to raise funds to repay debt.
* BANKING: Government will take a view on the additional capital requirement of public sector banks depending on their individual credit growth during the
festival season, Financial Services Secretary Takru said. Reserve Bank of India has sought additional information from companies that have applied for banking license by the weekend.
* COAL: The Central Bureau of Investigation Tuesday filed in Supreme Court a status report on the progress on its probe into the coal block allocation
scam.
* COMMODITIES: India has imported 600 tn onion from China in the past two months amid spiralling domestic prices, Commerce Secretary S.R. Rao has said.
Mother Dairy will raise prices of all variants of milk by up to 2 rupees per ltr effective Wednesday. The government is mulling banning onion exports to contain rices. The government is considering duty hike for refined edible oil and a decision in this regard will be taken at the Cabinet Committee on Economic Affairs' next meet.
* CORPORATE: Ministry of Corporate Affairs has invited comments on the third set of draft rules for implementation of the Companies Act, 2013.
* EXPORTS: The government has asked MMTC and STATE TRADING CORP to act as front for exports to Iran and mask them as government shipments to evade western sanctions on that country.
* MINING: An association of workers employed in Goa iron ore mines has urged the Supreme Court to consider the impact of mining ban in the state on the
their livelihood.
* MUTUAL FUNDS: UTI's board is likely to meet today to appoint former Life Insurance Corp of India chief D.K. Mehrotra as UTI Asset Management Co's
non-executive chairman.
* PHARMACEUTICAL: Private equity firm Actis has bought significant stake in Indore-based Symbiotec Pharmalab for $48 mln. According to analysts, pharmaceutical companies such as CIPLA, TORRENT PHARMACEUTICALS, and Mankind Pharma have raised trade margins for stockists and retailers to 10% and 20%, respectively, from 8% and 16%.
* REGULATORS: The SEBI-mandated National Securities Depository and Central Depository Services to jointly create centralised database of corporate bonds and debentures.
* STEEL: World crude steel production increased 6.1% on year to 133 mln tn in September, according to the World Steel Association.
* STOCK MARKET: National Stock Exchange has lifted the ban on 26 entities, including GITANJALI GEMS' promoter Mehul Choksi and firms linked to
Prime Broking, from trading in the securities market.
* TELECOM: Nimbuzz has entered into a partnership with Spectranet to offer calling service that will allow users to make international voice calls at
1 paisa per second. The telecom department may hold the 2G spectrum auctions in a two-stage bidding process to charge a premium for a contiguous band of bandwidth. Loop Mobile has been asked by its lenders to sell its towers and real estate assets to raise funds to repay debt.
