Tata-SIA Airlines to take off by June next.

This is Tatas second venture in the

aviation sector after its tie-up with Malaysian carrier Air Asia in February for a
low-cost passenger air service in the country.

ICICI Bank reported a net profit of Rs.2,352 crore for the quarter ended
September 30, 2013, against Rs.1,956 crore in the year-ago period, an
increase of 20 per cent.
ITC clocked a 21.5 per cent growth in net profit in the second quarter ended
September 30, 2013, despite sluggish business environment.
Biocon has reported revenues of Rs.753 crore in the second quarter ended
September 30, 2013, an increase of 17 per cent over the previous year.
Adani Ports & SEZ has reported a consolidated net profit of Rs.342 crore for
the second quarter ended September 30, 2013, as compared to Rs.276 crore
in the same period last year, up 24 per cent.
Essar Oil has reported a net loss of Rs.71 crore for the second quarter ended
September 30, 2013, as compared to a net profit of Rs.105 crore in the same
period last year.
The Department of Telecommunications (DoT) is readying a proposal to bring
mobile tower companies under the licensing regime, following governments
decision to allow 100 per cent foreign direct investment in the telecom
sector, official sources said. Mobile tower companies, called IP-I in technical
jargon, will have to pay 8 per cent licence fee on the revenue earned from
telecom services if brought under the licensing regime.

ZTE Corp of China has teamed up with online marketplace eBay to introduce a
new smartphone device, based on Mozillas Firefox mobile operating system, to
the Indian market. ZTE, eBay bring first Firefox OS-powered phone to India

Indian Overseas Bank (IOB) has reported a decline of 16.3 per cent in its net
profit at Rs. 132.55 crore for the second quarter ended September 30, 2013,
against Rs. 158.43 crore in the same period in the previous year. Total income
has risen to Rs. 5,999.75 crore from Rs. 5,515.02 crore in the year-ago period.
GAIL (India) on Friday announced that it had sold nearly a fourth of its 4.6 per
cent stake in city gas distribution company China Gas Holdings for Rs.385
crore. GAIL had to use imported gas (LNG) for manufacturing cooking gas
after supplies from Reliance Industries KG-D6 fields dried up. Mr. Tripathi said
the profit was also impacted because of drop in gas that GAIL transported
during the quarter to 95 million metric standard cubic meters per day
(mmscmd) from 106 mmscmd.
Twitter has set a price range of $17 to $20 a share for its initial public
offering, and says it can raise as much as $1.6 billion in the process.

The Securities and Exchange Board of India, on Friday, ordered attachment of over 50
bank accounts of West Bengal-based MPS Greenery Developers for recovery of Rs.1,520
crore, along with applicable returns, collected from investors through illegal collective
investment schemes. This is the first direct attachment order issued by SEBI in a case
involving an unauthorised collective investment scheme, which has emerged as a major
route for illegally raising public funds. SEBI has taken action against a number of

unauthorised collective investment scheme entities from West Bengal, including Saradha,
Rose Valley and Sumangal group entities.

A meeting of the board of directors of the Amul cooperative to consider noconfidence motion against its Chairman had been cancelled following the
Gujarat High Courts stay on it. The resolution to bring no-confidence motion
against Mr. Chaudhary was signed by 14 out of 17 directors of various district
dairy cooperatives.
Indicating keen interest in the possibility of privatisation of Air India, Tata
Group Chairman Emeritus Ratan Tata, on Friday, said he would be glad to look
at the issue whenever it took place. Mr. Tatas comments come weeks after
Civil Aviation Minister Ajit Singh had said it was his personal opinion that the
government should not be in the services sector such as airlines or hotels,
and any future regime could consider privatisation of Air India, as the
government would not give any more funds to the airline after it completed
equity infusion of Rs.30,000 crore till 2021.

Lack of proper supervision at the troubled National Spot Exchange Ltd.s (NSEL)
accredited godowns led to irregularities and the Rs.5,600-crore payment crisis at the
bourse, Food Minister K. V. Thomas said here on Friday. We have burnt our hands in the
NSEL case...None of the warehouses accredited with NSEL was registered with the
Warehousing Development Regulatory Authority (WDRA) and were not properly
regulated, Mr. Thomas said.

Pharmaceutical major Wockhardt, on Friday, reported a 70 per cent drop in its

net profit for the second quarter of 2013-14 at Rs. 138 crore (Rs. 453 crore).
TVS Motor Company announced a 17 per cent rise in revenue for the quarter
ended September 2013 to Rs. 1,962.03 crore from Rs.1683.41 crore in the
same period in the previous year.
The Indian Cotton Federation has estimated cotton production this year
(2013-14) to be 384 lakh bales. Production in Gujarat is likely to be 125 lakh
bales and 75 lakh bales each in Maharashtra and Andhra Pradesh.
Financial Technologies (India) Ltd. (FTIL), on Friday, said Chandrakant Kamdar
had resigned from its board as director, amid continuing payment crisis in
group firm NSEL.
The S&P BSE Sensex fell 42 points amid profit-booking on Friday, posting its
first weekly drop in four, as investors turned cautious ahead of the Reserve
Bank of India (RBI) meeting. The rupee ended unchanged against the dollar
for the second time this month, holding steady at 61.46 on Friday amid
caution before next weeks Reserve Bank of India (RBI) meeting and a
weakening U.S. currency overseas.