Stocks in news:

Indian ADRs: Tata Motors up 17%, ICICI Bank up 7%, HDFC Bank up 6%, DRL up 5%

NSE increases lot sizes of 243 F&O stocks ((by 2-14x)) for March 2009 expiry onward, cuts lot size of 2 stocks; effective date December 26

Tata Steel Q2 Cons
-Net Sales at Rs 44,198.97 crore versus Rs 32424.9 crore (Poll: Rs 45017.8 crore)
-Net Profit at Rs 4,703.64 crore versus Rs 3342.4 crore (Poll: Rs 3371.4 crore)
-Margins at 17.6% versus 15.2%
Tata Steel Says
-To delay capex to maintain liquidity
-To put greater emphasis on raw material projects
-Committed to savings of Rs 300 crore in next 5 months

Exclusive:
-PM's Apex Committee
-Finalises sops for exporters, interest subsidy of 2% to be given
-Rs 350 crore guarantee for ECGC in the works
-PM discusses possibility of rate cuts with RBI Governor
-Fiscal stimulus for housing sector to be unveiled soon
-Rs 50,000 crore IISCL credit line to be opened for funding domestic Infrastructure Projects
-All fiscal & monetary measures to be announced early next week

GE eyes majority stake in Indo Tech Transformers – TOI (Likely to buy promoters 54% stake)

SEBI Says:
-Positions in cash, F&O to be considered for ross-margining
-Cross-margining for all market participants
-Cross-margining to the extent of positions offsetting in cash, F&O
-Basket of positions in index stocks/ futures eligible for cross-margining

Downturn continues:
-Jet Airways asks senior employees, including pilots, to take a cut in wages over next 12 months

Tata Motors can raise up to Rs 2700 crore through public fixed deposits

Hindustan Motors says to launch two more variants of mini-truck with Chinese collaboration

Ceat inaugurates Rs 700 crore greenfield radial tyre plant in Gujarat, to invest in three phases

Amrutanjan buy back opens today, offer of up to Rs 450/sh ((CMP Rs 350))

Ipca Labs buy back opens today, offer of up to Rs 600/sh ((CMP Rs 318))

15.9 crore GMDC shares to hit the market ((bonus issue))

1.12 crore IBN18 Broadcast shares to hit the market ((QIP issue))

Force:
-German CV major MAN increase stake in JV with Force Motors from 30% to 50%
-MAN to buy 14.20% of Force Motor’s stake in JV for Rs 300 crore, rest via additional equity
-Addl equity of approximately Rs 250 crore to be raised by rights issue

NSE puts FT on the “watch list” due to system and performance failure – ET (Decision has blocked FT’s sale of software to brokers for enabling internet trading and DMA to institutional investors)

Reliance Communication likely to get $150 million Canadian fund which will be used for GSM operations – ET

DR Reddys Labs awaits AOK deal as the German maker is set to finalise 2.5 billion Euro drug supply bid – DNA (Stock was up 5% yesterday)

Unitech fires trainee and on-probation employees, defers projects – HT (Parsvnath too cut salaries of top and mid management staff by 20%)

MFs may now have to list close ended equity and debt schemes on the SEs – ET

Devine Impex open offer at Rs 10/sh ((CMP Rs 10))

Sanraa Media board meet to consider stock split

Sterling Holiday board meet on raising fund

Kingfisher gets nod for more international destinations – ET