25-July News

Headlines for the day
Corporate News Headline ONGC is planning to enter uranium mining in alliance with public-sector Uranium Corporation of India. (BS) GAIL India and Bharat Petroleum have signed an agreement for cooperation in transmission and distribution of natural gas. (ET) Tata Motors would shortly be approaching the SEBI to seek permission for its Rs. 72 bn rights issue. (ET) Economic and Political Headline Inflation for the first time since May eased by 0.02% to touch 11.89% mainly due to a moderation in prices of certain food items like sea fish, tea, and imported edible oils. (BS) In a move to improve the tradability of domestic convertible bonds, the finance ministry has proposed a mechanism, under which the equity option can be traded separately. (BS) The sales of previously owned US homes fell 2.6% in June to the lowest level in a decade as tumbling real- estate prices and consumer confidence signalled no end in sight to a housing recession now in its third year. (Bloomberg)