Market Roundup

• ONGC-Mittal combine considering counter offer for Petrokazakhstan
• Tata Steel to set up second steel plant at Jharkhand
• Nokia to expand Bharti Tele's mobile networks
• Tata Tele, VSNL in partnership agreement with IIMC
• L&T to tie up with domestic oil majors for global bids
• Motorola to boost presence in domestic market
• Grasim eyes bulk domestic sales
• Biocon in research collaboration with Nobex
• Yuvraj Singh to endorse Marico's after-shower hair cream

GENERAL

• Indo-GCC FTA talks likely to begin early 2006
• Lok Sabha passes the rural employment guarantee bill
• Parliamentary standing committee recommends new airports for Mumbai and Delhi
• Infrastructure sector growth down 0.5 per cent in July

• Rupee dips further - securities move lower
• HDFC Bank to raise micro-financing level to Rs.250 crore
• HDFC Bank, Idea Cellular launch co-branded Visa cards

MARKETS

• Reliance Capital to pick up 14.96 per cent in Spanco for Rs.32.27 crore
• Fidelity and ICICI Mutual pick up 10 per cent stake in Patel Engg

• EU under pressure from retailers over Chinese textile imports
• Rolls-Royce and GE win US$1bn deal for the US F-35 stealth fighter