Sensex up 65 points in early trade

Nov 21 2012, 10:21 IST
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SummaryNational Stock Exchange index Nifty moved up by 2.45 points.

blocks from Vijay Mallya's investment holding company UB Holdings, said two people familiar with the developments.


* Canadian Securities Administrators, the securities market regulator of Canada, has barred Indian asset management companies from selling investment products to local investors, dealing a blow to these fund houses.

* India's central bank has extended the relaxation of the period of realization and repatriation to the country of the full value of goods or software exported by six months. The relaxation will now be effective till March 31, 2013, the Reserve Bank of India said in a release.


* Reliance Industries and the oil ministry have narrowed their differences over auditing of the controversial KG-D6 block and pricing of natural gas, raising hopes of quicker approvals and development of more fields in the gas-rich region, government and industry sources said.

* Jindal Power & Steel has started producing coal at its mine in Mozambique this month, with first exports expected by January next year, the company's country head for Mozambique said at an industry conference on Tuesday.

* The cabinet committee on economic affairs will on Thursday consider a proposal to sell A 9.5 percent stake in NTPC It will also consider a proposal to allow state miner NMDC to acquire 50 percent stake in Legacy Iron Ore , a listed Australian entity.

* Oil & Natural Gas Corp is planning to sell dollar bonds to fund the $1 billion acquisition of a stake in oilfields in Azerbaijan, Bloomberg reported on Wednesday.

* Rahul Dhir, the former CEO of Cairn India, is teaming up with Warburg Pincus to set up an international oil and gas exploration and production company focused on promising assets in sub-Saharan Africa, a person close to the transaction


* Bharat Petroleum Corp Ltd and Oil and Natural Gas Corp Ltd have put a plan to jointly develop a terminal in Mangalore on hold, senior executives in both companies said.

* The Essar group's Ruias family is working on a plan to lower its stakes in Essar Shipping and Essar Ports, said a source close to the developments. A group spokesperson confirmed the stake sale plan in the Indian companies.


* Maruti Suzuki exported 8,300 units of the M800, an increase of 57 per cent compared to the 5,300-odd units sold in the corresponding period last year, said Shashank Srivastava, executive director of international business development at the

auto maker.


* Media baron Kalanithi Maran and his

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