Monsoon update: Planning Commission sources say:
-India facing worst drought since independence
-Expect over 50% of country to be drought-hit

Met Department says: from NW18
-August rains seen 90-95% of normal versus 101% previous estimates
-June 1-August 8 rains 28% below normal

Bharti-MTN Deal: Exclusive
-Bharti investor moves SAT over SEBI guidance on MTN deal
Petition to SAT
-Questions exemption of open offer by SEBI in guidance
-Alert: Bharti-MTN deal triggers open offer; estimated worth Rs 45,000 crore
-Says no open offer denies exit option to Bharti shareholders
-Alert: Bharti said agreements will be struck with global depository
-Says MTN will enjoy 25% voting rights via global depository
-SAT may take up Bharti shareholder petition today

Bid for Asarco
-Sterlite raises bid to $1.58 billion from $1.1 billion
-Grupo Mexico ups cash portion by $260 million; total bid at $2 billion

Tata Steel
-Plans to raise Rs 5000 crore via issue of securities in domestic, international market
-To seek shareholder approval in AGM on August 27
Mint Exclusive: Tata Steel Says
-To secure supply of 60% of raw materials by 2015
-Presently has secure supply of 25% raw materials
-To invest more in holdings in overseas mines
-Evaluating several mineral projects in Brazil & Australia

Glenmark
-Nycomed, Forest Labs sign distribution agreement for Roflumilast
-Forest to make upfront payment of $100 million to Nycomed plus milestones
-Alert: Forest earlier licensed Oglemilast from Glenmark, paid $45 million

Kinetic Engineering
-Bags new order worth Rs 20 crore for Nano project
-Bags order worth Rs 40 crore from European manufacturer: Kinetic Engineering
-To sell non-core assets at Pune for Rs 44 crore

Other stocks that are in news today:
GMR eyes London listing for holding company, a step towards building $10bn global assets portfolio – BS
Fortis Healthcare board approves rights issue @ Rs 110, ratio 2:5 ((plans to raise up to Rs 1000 crore))((Rights issue to open in September first week: NW18))
Petronet LNG signs gas supply agreement with Exxon Mobile
BOC India bags order from Jindal Stainless for installation of air separation unit
Board meets: FCS Software on stock split, FCCB / ADR / GDR issue
Ex-rights: Piramal Glass @ 7:2

source:MC