• DLF Ltd has embarked on a land-selling spree. The company recently sold 500 plots of 200-400 yards in Indore, Madhya Pradesh, mopping up around Rs 110 crore at an average Rs 800 per square feet. Further, the company seems to be having second thoughts on many of its plans in South India. After converting its IT special economic zone (SEZ) in Bangalore into a residential housing project, DLF is changing its plans for a mall in Chennai into a luxury housing project.

• Pantaloon Retail was likely to open its qualified institutional placement (QIP) issue from today. The company plans to raise anywhere between Rs 3 billion to Rs 4 billion from the issue. The floor price is expected to be at Rs 316, average of the share price for the two weeks preceding the QIP date.

• Mundra Port and SEZ (MPSEZ) has been awarded letter of intent (LOI) by Hazira Port. (HPPL) for development of non-LNG port facilities at Hazira. HPPL, a 74:26 joint venture between Shell Gas BV and Total Gaz Electricite Holdings France, has built the Hazira (Surat) port pursuant to a concession granted to it by the Gujarat Maritime Board (GMB) and Government of Gujarat (GoG) in April 2002.

• Infosys Consulting Inc, the strategic consulting arm of Infosys Technologies, is planning to acquire a small consulting company with revenues in the USD 100-140 million range (Rs 4.5-6.5 billion) as part of its inorganic growth initiatives in the US.

• Suzlon Energy has sold a 35% stake in a subsidiary Hansen Transmissions, for $370 million as part of its efforts to reduce debt. • Sugar stocks will remain under pressure after farmers signalled their discontent by protesting low state-controlled sugarcane prices. • Visa Steel expects to receive captive mining leases in Orissa soon and begin production of special and stainless steel.

• Four Soft will be entering the business process outsourcing (BPO) vertical to offer services like freight settlement reports, customer service and transaction entry to global freight forwarding companies in the next quarter.

• Ranbaxy Laboratories has initiated a voluntary recall of 4,348 cartons of its skin infection drug Sotret (isotretinoin) in the United States. The entire lot pertains to a single batch of tablets which were found to be `out of specification.

• Bhushan Steel is looking to sell a 5% stake to strategic investors for close to Rs 4 billion. The funds raised through fresh issue of shares will be used to finance its ongoing capacity expansion plans. The company is looking to sell new shares at a high premium.

• Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal mining company to aid supply of coal for its Rs 140 billion thermal power plant in Andhra Pradesh. NCC is setting up its maiden thermal power plant in the Srikakulam district of Andhra Pradesh to generate 1,320 mw of power. ``

• Sources from banking industry said Union Bank, Bank of Baroda and Punjab National Bank were keen on acquiring Corporation Bank while Canara Bank and Punjab National had shown interest in Dena Bank.

• Thermax has bagged Rs 4.77 billion order from a leading conglomerate in Orissa. The order work includes constructing and commissioning a turnkey captive power plant for its ferro alloy unit in Orissa.

• The Bombay High Court has granted two months time to Jet Airways and Sahara India Commercial Corporation Ltd to file additional affidavits, in regards to the takeover deal of Sahara Airlines by Jet Airways.

• Nalco is considering buying coal, copper and uranium mines in Namibia. The company saw its bottom-line shrinking significantly in the last fiscal due to a steep fall in aluminium prices amid the global financial crisis.

• NTPC is looking for long-term supply of coal from overseas market to meet the requirements of its local plants. Further, the Supreme Court has asked the Centre to file an affidavit stating that it will ensure the supply of gas from the Krishna-Godavari basin to state-owned power utility NTPC in a ‘non-discriminatory manner’.

• NDTV Group announced that it has entered into a strategic alliance with US-based lifestyle media group, Scripps Networks Interactive. The proposed transaction will see Scripps Networks Interactive acquiring 69 per cent of NDTV Group’s lifestyle programming subsidiary, NDTV Lifestyle, for $55 million.

• NMDC is in plans to produce iron ore from hematite rocks. • Power Finance Corporation (PFC) has signed a pact with NTPC Ltd, Power Grid Corporation of India Ltd and Rural Electrification Corp Ltd to set up a joint venture company to promote energy-efficiency projects in the country.

• Japan's JFE Steel Corp has entered into a strategic collaboration with JSW Steel to produce automotive steel products, thereby marking the entry of yet another foreign company into India after ArcelorMittal.

• Bharti Airtel has slipped to third position in terms of monthly additions. Bharti Airtel in October added about 2.7 million new users, lower than 2.9 million added by Vodafone Essar and over 3.8 million added by Tata Teleservices.

• NTPC has formed JV with Power Finance, Power Grid and REC for climate change operations, energy conservation.

• Patni Brothers have sold 0.6% stake in the company via open market operation in last 2 days, puts a questions mark on stake sale with potential strategic investors.

• Astec LifeSciences has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band. • As per reports, Reckitt Benckiser may be close to a “multi-billion pound cross-border transaction.” Colgate-Palmolive is an “obvious candidate” to merge with Reckitt, the report adds.

• Zee Entertainment has asked Dubai-based Taj TV for a one-month extension of a deadline to acquire a higher stake in Ten Sports. Sources close to the development said Zee had the option of increasing its stake by October 31, at the 2006 valuation.

• Jindal Drilling & Industries has bagged an order worth Rs 635 crore from Oil and Natural Gas Corporation (ONGC) for hiring a drilling unit for five years.

• IndiaBulls Power will replace Indage Vintners in BSE 500 index from December 1. • JSW Steel has overtaken Tata Steel in terms of steelmaking capacity in India and will continue to be ahead even as the two companies go into their next phases of expansion.

• ICICI Bank is planning to raise funds for its overseas branches through five-year dollar-denominated senior unsecured notes issued through its Bahrain branch.

• Welspun Gujarat has launched a USD 50 million share sale to institutions that can be upsized to USD 100 million. JPMorgan is arranging the offer. • Ashok Leyland is looking at about 10-15% market share in the LCV area.