Sensex down 39 points amid weak trend in world markets

Oriental Bank of Commerce Ltd and Canara Bank Ltd , HSBC's partners in the joint venture, have not yet decided whether to sell or not, and they may take a call depending upon the price being offered by the bidders.

India's central bank has relaxed rules on gold deposit scheme offered by banks by allowing the lenders to offer the product with lesser maturity. ENERGY/COMMODITIES

GAIL (India) said October-December net profit rose 17.8 percent to 12.85 billion rupees from a year ago.

Coal India Ltd will miss its production target for the current year by up to 6 million tonnes and will meet its supply target by drawing on stocks, its chairman said on Thursday.

Canadian oil and gas producer Niko Resources Ltd said the sale price of gas from its wells in India may nearly double to between $8 and $8.50 per million British thermal units based on a pricing formula recommended by an Indian government panel. TELECOMS

The finance ministry is likely to seek permission from the Cabinet to enter into discussions with Vodafone Group Plc to settle the long-running $2-billion tax dispute between the Indian government and British telecom giant, according to sources familiar with the matter.

AUTOS

Tata Motors Ltd posted its first drop in profits in five quarters as its Jaguar Land Rover (JLR) business faced higher spending and a drop in operating margin after 18 months of soaring profit.

PROPERTY

DLF Ltd reported a 10.5 percent rise in quarterly net profit, helped by a one-time gain from the sale of non-core assets during the quarter ended Dec 31.

IT

Mahindra Satyam will undertake organizational restructuring by creating mini business units headed by mini CEOs as the software services company works towards its 2015 sales target of $5 billion, said CEO CP Gurnani.

... contd.

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