Market Roundup

COMPANIES

• GM may set up engine, gearbox making plant in India
• Videocon to initiate fresh negotiations with Daewoo creditors
• Biocon enters into JV with Neopharma of UAE
• Prajay ties up with Sunway City
• Essar Power may get Jamnagar power contract
• Pantaloon targets to open 100 Big Bazaar outlets

• Service tax rate could be hiked to 14 pc
• India, Italy to expand trade
• Inflation rises
• Terror attempt on Infosys, airport thwarted

• Rupee declines marginally
• Forex reserves up $1.02-bn

• BSE selects 5 foreign bourses for stake sale
• MFs can now invest upto $3b in overseas markets
• Tanla Solutions lists at a premium
• Pyramid Saimira lists at 35 pc premium on BSE
• UTI to launch overseas fund by March-end

• China to liberalize property and tax laws
• Rosneft adds 862 million oil barrels of new oil reserves in 2006
• Japan says economy recovering