Morning Bell 11-02-11

                                                                    Morning Bell

Tata Motors bags order of 250 Tata Prima trucks from LINFOX

Tata Motors has won an order for supplying around 250 Tata Prima trucks to LINFOX Logistics. Tata Motors has started deliveries and by March 2011, it will add 50 Tata Prima 4928.S tractors to LINFOX’s fleet. Tata Motors plans to complete deliveries in the next two years. (Business Standard)

SAIL to invest Rs 5,000 cr in Chiria mines

SAIL will invest Rs 5,000 crore to develop the mines in Chiria and start mechanised mining in the next three years to feed its plants in Bokaro, Burnpur, Durgapur and Rourkela. Mechanised mining is expected to become operational in Chiria in around three years' time. The estimated cost for the development of the Chiria mines is about Rs 5,000 crore. (Business Standard)

L&T in pact with EADS arm

Larsen and Toubro and Cassidian, a division of leading European aerospace and defence group EADS, have formed a joint venture aimed at the global defence electronics market. As per the agreement, both companies will transfer their existing contracts to the joint venture. L&T will hold 74% and Cassidian the rest in the venture.          (Economic Times)

IOC's $4.4 bn share sale on hold

Indian Oil Corp's planned share sale of up to $4.4 billion will be delayed due to unfavorable market conditions and rising global crude oil prices. The public issue, earlier planned for the first quarter of 2011, includes a 10% stake sale by the Indian government and an equal number of new shares by IOC. (Economic Times)

SBI raises Rs 1,500 cr via foreign bond issue

SBI has raised around Rs 1,500 crore via an international bond issue to meet its increasing forex needs. The issue is in the form of senior debt fixed rate bonds with a maturity of five years and comes under the medium term notes (MTN) programme. The current issue carries a coupon rate of 3.37 percent. (Business Standard)