Wockhardt: Sources
-Close to selling France-Based Negma Laboratories
-Looking to sell Ireland-Based Pinewood Labs
Alert:
-Sale of Negma, Pinewood Labs part of CDR (corporate debt restructuring) process
-Wockhardt to repay debt worth Rs 3,100 crore

Indian Hotels
-To buy stake in Elel Hotels for Rs 680 crore
-Alert: Elel Hotels is the holding company of Sea Rock Hotel
-To fund Sea Rock Hotel buy via rights issue proceeds
-Not to mount hostile bid for Orient Express Hotels

Pfizer
-Pfizer near deal to acquire Wockhardt’s biotechnology and veterinary division – Mint
-Pfizer's open offer for 34% in its Indian arm to begin today

L&T
-L&T plans to end insurance JV with Travellers – DNA
-L&T buys out Demag from JV – BS

Board meets:
-Ansal Properties on fund raising
-Flawless Diamond on issue of shares / convertible warrants on pref basis

Indian Hotels FY09 Standalone
-Net sales at Rs 1,534.03 crore versus Rs 1,764.51 crore
-Net Profit at Rs 234.03 crore versus Rs 377.46 crore

Other stocks that are in news today:
Bombay High Court to pronounce final judgment on RIL-RNRL case today
Suzlon seen in talks to sell Hansen stake – ET
Hindalco in talks with lenders to recast bank covenant – ET
Nalco raises aluminium prices by Rs 5000/t: NW18
Nahata to exit Datacom, sell stake to Videocon – ET
MTN may take GDR route for 25% stake in Bharti Airtel – ET
Maytas Infra, lenders may soon seal debt-recast deal – ET
TCS, Wipro eye $200 million BPO deal from UK’s RMG – ET
Pricing cloud over GMR Infra QIP issue – DNA
Rishabhdev public issue subscribed 7.76 times
Thomas Cook parentage may change hands, German courts put Arcandor 52.8% stake on block
SBI reduces deposit rates by 25 bps effective today
Bajaj Holdings board approves issue of up to 1.01 crore convertible warrants to promoters on pref basis
Tulip Telecom promoter Cedar Infonet pledges 14.14% stake in company
NSE bars further F&O positions in Dish TV as 95% of market wide limit reached

Indian ADRs: Satyam down 15%, MTNL down 8%, Wipro down 5%, HDFC Bank down 3%

source: MC