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Govt moves to end cane price politics
Raising the price at which sugar mills are mandated to purchase sugarcane from farmers, over that fixed by the Centre, could punch a hole in the pockets of states. The Union government has said that anything that the state mandates above the centre-assigned price will have to be paid by the state.

Ranbaxy gets nod to sell Ran-Simvastatin tablets in Canada
Ranbaxy Laboratories, received the final approval in Canada to manufacture and market Ran-Simvastatin tablets from Health Canada, Therapeutic Products Directorate. The total generic market size of Simvastatin tablets in Canada is $CAD153 million.

News of the day

Reliance Media World to list on BSE, NSE
Anil Ambani’s radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 4. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.
Small Business

Investors give thumbs-down to Power Grid's overseas plans

Power Grid ended at Rs 113, lower by Rs 1 or 1.2%, on the BSE. - Rate sensitives dismiss markets - Sensex tumbles over 500pts - Asian markets end with moderate losses - Sensex off day"s low - Sensex in red in early trades - Cadila Healthcare gains on 114% jump in Q3 net The stock had opened at Rs 114 and touched a high of Rs 117 and a low of Rs 112 during the day. The counter saw trades of 9.01 lakh shares as against the two-week average of 6.41 lakh shares. -------------------------------------------------------------------------------------------------------------(Updated at 0934am) Power Grid Corporation has moved up in early trades on news of overseas venture. The stock opened at Rs 114 and touched a low of Rs 113. It gained 3.5% from teh low to touch a high of Rs 117. The stock is now trading with a gain of 1.2% at Rs 116. Around 68,000 shares have been traded on the counter in BSE so far. The company is set to float its overseas subsidiary by early next year. The overseas subsidiary would operate in the lines of ONGC Videsh. The company has plans to launch a Follow-on Public Offer (FPO) in the second quarter of the coming financial year, to raise around Rs 3,000 crore, which would include a partial stake sale by the government.


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