Stocks in news:

• Indian ADRs:
  Infosys down 7%, Wipro down 6.3% after Cognizant’s results
• Board meetings:
  Alphageo India to consider allotment of convertible warrants to promoters
  Igarashi Motors on business restructuring
  Lyka Labs on preferential issue
• NSE bars further F&O positions in RPL & Essar Oil & as 95% of marketwide limit reache
• GAIL says:
  Looking at LNG imports from Nigeria; eyeing stake in Nigerian oil, gas blocks: NW18
  Keen to invest in petrochemical plant in Nigeria: NW18
• Lafarge, Holcim in race for majority stake in Birla's controlled Shree Digvijay Cement - ET
• RIL, Essar in race to acquire management control of Petronet VK,  Both RIL and Essar currently holds 13% stake in PVK
• RBI
  Notifies norms for oil cos hedging on overseas exchanges: NW18
  Says oil cos can use OTC, exchange-traded contract to hedge abroad: NW18
• Jaguar- Land Rover Deal
  Tata Motors, Ripplewood & One Equity Partners shortlisted for final round: Sources
  Tata Motors frontrunners; Ripplewood might rope in M&M as partner for bid: Sources
  Bids conditional; in $2 bn range: Sources
• RIL discovers gas in Krishna basin
• Govt constitutes committee on Telecom Engineering Centre's report on spectrum: PTI
• ABG Heavy acquires worlds largest crawler crane with lifting capacity of 3200 MT
• Raymond board approves issue of 61.38 lakh warrants on preferential basis to promoters at Rs 340/sh
• Tata Sky plans 2nd round funding of upto $200m, likely to dilute 10% stake - ET
• India Star Fund makes open offer for Garware Offshore at Rs 230/sh
• Amtek Auto close to buying UK based Tripex Ketlon, deal pegged at around Rs 600 cr - ET
• Shriram Transport looking to raise USD 100-150 mn via PE - ET
• IFCI stake sale may be delayed on lack of clarity of conversion of debt into equity - ET
• Oil India to file DRHP this month, plans to raise Rs 2000 cr via IPO - Agencies
• Lupin plans to buy a US based speciality pharma co in next 3 months - ET
• Cognizant Q3 CY07 (QoQ)
  Revenues up at $558.8 m from $516.51 m
  Net profit up at $96.14 m from $82.27 m
• Cognizant
  Q4 CY07 Revenue guidance at $590 - $595 m
  CY07 Revenues guidance at $2.12 -2.13 bn
• IT budgets outlook:
  Across cognizant customer base - 150 CIO, CTO, Senio decision makers
  BFSI, Insurance, Healthcare, Retail, Telecom
  Despite the uncertainty, 92% do not see IT budgets to decline in FY08
  What happens to offshore budgets if IT budget declines: 19% may reduce budgets
  Outsourcing budget will surpass IT budgets: 90% see more spend in offshore spending
  Fin services: 90% do not expect IT budgets to decline