Bhel down, ABB Down, Bajaj Down, IT Stocks up

CAIRN - City Gas Distribution
In an attempt to capitalise on the downstream opportunities, Cairn India is mulling entry into city gas distribution (CGD) in collaboration with GAIL (India) Ltd. According to sources, Cairn has sounded out the Petroleum and Natural Gas Regulatory Board (PNRGB) in this regard.

While both Cairn and GAIL officials are tight-lipped about the development, industry sources told Business Line that the companies are exploring possible joint venture opportunities in the CGD sector in Gujarat, Andhra Pradesh and Rajasthan.

City gas distribution including retail industrial supplies (excluding supplies to power and fertiliser) currently constitute 20 per cent of the total natural gas consumption in India. This is in sharp contrast to 60-65 per cent CGD requirement in the developed countries. The trend is expected to be reserved once gas availability increases in the country.

Bharat Heavy Posts Biggest Profit Drop in Six Years
India's biggest maker of power equipment, had the worst quarterly profit decline in six years on wage and raw material costs. The company's shares fell to the lowest in more than seven months.
The company's wages may rise 40 percent on a government plan to raise salaries of its employees, Credit Suisse Group analyst Vinod Chari wrote in a clients note before the earnings.

Bharat Heavy Electricals net up 17pct, below forecast;shares fall
Reuters - 8 hours ago
The result sent the shares of the state-run BHEL down more 8 percent in a firm Mumbai market, but Chairman K. Ravi Kumar said he was bullish about the ...
BHEL plunges 6.07% following provision result figures Myiris.com
India's BHEL FY provisional net profit up 16 pct Forbes
India BHEL 07/08 provisional net up 16.6 pct Reuters

Airtel, Vodafone Essar, Idea to face MRTPC probe
Both Idea and Vodafone did not comment on record with regard to the development. Admitting the DGIR’s submission, a bench of the Commission, ...
MRTPC issues notice to Airtel, Vodafone & Idea Cellular Hindu Business Line
MRTPC issues notice against three GSM operators for cartelisation TelecomTiger
MRTPC issues notice against Bharti, Vodafone for cartelisation Economic Times