Market Roundup

• Reliance companies in gas pact
• Suzlon enters Australian market
• Monnet Ispat to raise US$60mn through FCCBs
• L&T to acquire Spectrum Infotech completely
• Apollo Hospitals plans to set up hospital in Mumbai
• L&T plans to enter power sector
• Satyam launches automotive centre for excellence
• Airlines rush to set up MROs
• Sakthi Sugars to expand operations with US$50mn investment
• Toyota to increase sourcing from India
  

GENERAL

• Solution in sight for airport strike
• Govt. set to garner Rs.1,100-cr from FM radio licensing
• IPMA seeks uniform excise duty of 8 pc
• More cities needed in Maharashtra
• Central advisory board to conduct study on contract labour

• Rupee strengthens
• Forex reserves up US$37mn on inflows into equity market
• Dena Bank not to use new instruments to raise capital
• RBI norms nullify banks' securitisation plans
• Pakistan banks apply for licenses for offices in India
• IDBI to float venture, pvt. equity funds

MARKETS

• Saraswat Co-op Bank and India Infoline in tie up for online and offline services
• Sahara MF to launch retail fund
• UTI declares 60 per cent dividend under Tax-Savings Plan
• Federal Bank GDR lists at a premium

INTERNATIONAL

• No white knights for Arcelor — France cools off rhetoric
• Chip sales in 2005 up at US$227.5bn
• UK 's "now culture" sees record numbers go bust
• Harrods shuts pension scheme