Corporate News Headline
•Tata Power has hiked its stake in Tata Communications to 2.48% from 0.9% by purchasing shares worth Rs. 1.95 bn through open-market transaction. (BS)
•TRF has received an order worth Rs 997.4 mn from the Andhra Pradesh Government for setting up a coal-handing plant. (BS)
•KLG Systel bagged an order worth Rs. 300 mn from state-run power company based in Haryana to set up thirteen 33 KV substations and lay down 33 KV and 11 KV electrical lines on turnkey basis for Uttar Haryana Bijli Vitran Nigam. (BS)
Economic and Political Headline
•Inflation declined to 3.92% for the week ended February 7, from previous week's 4.39%. (BS)
•The Finance Minister announced that he would discuss the possibility of another set of fiscal and monetary measures to counter the economic slowdown with officials and the RBI. (BS)
•The UK had a USD 4.7 bn budget surplus in January, the smallest for the month for 14 years, as the financial crisis ravaged bank profits and the recession worsened. (Bloomberg)
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