COMPANIES

• MERC directs Tata Power to refund Rs322 cr
  to Reliance Energy
• Singapore, Malaysian firms to buy AT&T's
  stake in Idea Cell
• HLL's adds more power brands; increases focus
  on direct selling
• IOC goes in for aggressive sales strategy
• Amul leads in ice-cream battle
• Shantha Bio expects to grow by 100 percent this year
• Essar Steel to invest Rs 700 cr for capacity expansion
• Jubilant Organosys acquires European drug cos
• Himalaya expects to grow 30 percent
• Boeing foresees huge demand from Indian carriers
• Cola sales zoom, water sales lag
• Maruti, Hero Honda shining, Bajaj down

GENERAL

• FDI in airports to be limited to 49 percent
• Indian companies raise $1,756 m in April through ECBs

BANKING AND FINANCE

• StanChart MF to launch new `fund of funds' scheme
• Sundaram Mutual announces launch of Leadership Fund
• Stanchart plans subsidiary
• Tribunal stays ICICI notice to Mardia
  

MARKETS

• Market rebounds, Sensex up 76 pts
• BPCL, HPCL gain
• FIIs were net sellers in May

INTERNATIONAL BUSINESS

• Oil at record high