Market Roundup

• VSNL and Reliance submarine cables damaged
• Infosys to set up new campus in Shanghai
• Tata launches Safari with Direct Injection Common Rail engine
• VSNL and Bharti in agreement for sharing of undersea cables
• Reliance empire announces demergers
• RIL to invest Rs.3,900 crore in Hazira
• VSNL refutes USTR charges on global bandwidth pricing
• Assocham: Steel prices may bounce back in third quarter
• Haldia Petro: Purnendu Chatterjee group moves CLB
• HeroITES spun off as separate company

GENERAL

• Iranian envoy: Change in government not to affect gas policy
• MPs demand greater relief for Maharashtra
• Country's exports set to rise 17 per cent to US$80bn
• Lok Sabha: Government working on a new spectrum policy
• PAC hauls up Govt. on I-T refunds
• Operations at JNPT and Mumbai ports pick up pace

• Rupee firms up - securities decline
• RBI: T-bills auctions fully subscribed
• Mumbai insurance claims - defaults in Fac Re arrangements apprehended
• Shareholders clear merger of Centurion Bank and Bank of Punjab

MARKETS

• Ahmedinejad takes over presidency in Iran
• Adidas picks up Reebok for US$3.8bn