MUMBAI, Sept 4 (Reuters) - Indian newspapers carried the
following stories in their print or Web editions on Thursday.
Reuters has not verified these stories and does not vouch for
their accuracy.
THE ECONOMIC TIMES (www.economictimes.com)
* The federal government may remove a $5-million-per-client
limit imposed on participants in the currency futures market.
Finance ministry officials, markets regulator Securities and
Exchange Board of India and the central bank will review future
initiatives for currency futures by September-end.
* Bharat Heavy Electricals <BHEL.BO> is in talks with several
firms including Alstom <ALSO.PA>, Siemens <SIEGn.DE> and General
Electric <GE.N> to sell 49 percent in a greenfield locomotive
plant it plans to set up at a cost of 10 billion rupees. The
Indian firm has identified locations in Madhya Pradesh and Andhra
Pradesh for the project.
BUSINESS STANDARD (www.business-standard.com)
* India's Oil and Natural Gas Corp <ONGC.BO> plans to list
wholly-owned overseas exploration unit ONGC Videsh Ltd in 2009.
The proceeds will be used to repay some of the bridge loans that
ONGC Videsh will raise to finance its $2.8-billion acquisition of
Imperial Energy <IEC.L> and for future acquisitions.
FINANCIAL CHRONICLE (www.mydigitalfc.com)
* Auto parts maker Sona Koyo Steering Systems <SONA.BO> plans
to diversify into new verticals like aerospace and windmill
technology in order to lower dependence on automotive sector,
which has been plagued by rising input costs and demand slowdown.
* Gujarat NRE Minerals, the Australian unit of metallurgical
coke producer Gujarat NRE Coke <GJNC.BO>, plans to invest $450
million to ramp up capacities at its two mines in New South Wales
by 2012/13.
DNA (www.dnaindia.com)
* Bombay Dyeing and Manufacturing <BDYN.BO> expects to sell
450,000 square feet of commercial property that it is developing,
for about 9 billion rupees next year. The funds will be used to
reduce its borrowings.
(Compiled by Prashant Mehra; Editing by Prem Udayabhanu)
(([email protected]; +91 22 6636 9029; Reuters
Messaging: [email protected]))
Keywords: INDIA PRESS/