120 billion rupees ($2.2 billion) of federal government bonds on Dec. 4 through open market operations (OMO), it said in a release on Thursday.
* The Central Vigilance Commission is examining a reference received from Punjab National bank involving 24 of its officials in an alleged fraud involving over 25 billion rupees.
* Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel, is likely to raise up to $825 million in what would be the country's biggest IPO in two years, sources with direct knowledge said. (Reuters)
* The telecom department (DoT) plans to simultaneously sell unsold spectrum from the recently concluded auctions along with a portion of airwaves held by existing operators such as Bharti Airtel, Idea Cellular and Vodafone in the 900
MHz frequency before March 31, 2013, as the government scrambles to meet its target of raising 400 billion rupees from the sale of airwaves in the current fiscal, said a ministry official.
* India's civil aviation ministry will try to convince the country's petroleum ministry next week to declare jet fuel as a "notified good," which would lead to exemption from high state taxes, providing some relief to battered local carriers.
* German drugmaker Bayer has filed a lawsuit in the United States against Indian generic drug maker Lupin , to prevent it from selling a version of Bayer's birth-control pill Natazia in the US.
* Glenmark Pharmaceuticals said it is aiming for up to 30 percent growth in revenues this fiscal to touch 50 billion rupees, with US and Latin America expected to be primary drivers.
* Indian group PVR is to buy control of rival Cinemax India for 3.95 billion rupees ($71 million) to create the country's biggest operator of multi-screen movie
* British sports car maker Aston Martin said it is in "advanced" talks with potential investors over an injection of capital into the business. Indian tractor maker Mahindra and Mahindra last week topped an offer from Italian private equity fund Investindustrial that had been agreed with Aston's owner, Kuwaiti investment house Investment Dar, sources said. (Reuters)
* US car major Ford today said it will make India its export hub with plans to sell its products in more than 50 countries over a period of time.
* Hero MotoCorp, the world's largest two-wheeler manufacturer, reported record retail sales in the festive season this year. HMCL has already retailed over 1.1 million two-wheelers