Essar Oil -SC says, company is not eligible for sales tax benefit -Company to pay sales tax to the Gujarat State Government of approximately Rs 6,300 crore -Essar Energy stock down 27% in London
FDI in aviation cleared -Proposal for 49% FDI in aviation to be sent for cabinet approval Aviation Minister says -Met Pranab Mukherjee to discuss sector issues -Govt to give funds to Air India to pay pilots -GoM on Air India to meet next week -To move cabinet note on 49% FDI by carriers -Investment by foreign carriers will help local airlines -GoM to consider companies recommendations to allow direct ATF Imports
Committee of secretary's to meet on Wednesday on power issues -To discuss removing power sector supply bottlenecks -13 power companies' CEO's to meet PM & other ministers
Sudhir Vasudeva Says -Cairn, ONGC's production ramp up at Rajasthan anytime now -No comments on FPO as department of divestment considering other options -Concerns on large under-recoveries -Expecting to get remunerative prices in excess of USD 55/barrel -At a discussion level stage with Conocophillips -ONGC final dividend to be decided in Q4
TCS Q3 IFRS (QoQ) -Revenues up 2.4% at USD 2585.6 million Vs USD 2525 million -Revenues up 13.5% at Rs 13204 cr vs Rs 11633.5 cr -EBIT at 3861.8 cr vs Rs 3154.3 cr -EBIT Margin at 29.2% vs 27.1% -PAT up 18.35% at 2886.6 cr vs Rs 2439 cr
Automotive Axles Q1FY12 (YoY) -Net profit at Rs 19.7 cr vs Rs 9.7 cr -Net Sales at Rs 292 cr vs Rs 179 cr (YoY)
Other stocks and sectors that are in news today: -Lenders may infuse USD 250 million equity in Kingfisher Airlines -Reliance Infra board approved merger of Reliance Energy, Reliance Energy Generation, Reliance Goa and Samalkot Power, Reliance Infraventures and Reliance Property Developers -Reliance Infra board approves demerger of the container business undertaking of Reliance Infrastructure Engineers. -NMDC acquires 50% equity stake in Legacy Iron Ore Industries Australia
