Sensex up 101 pts at 10502

The markets have opened on positive note, which continue its gains. At 10:31 am, the Sensex was up 101.37 points at 10502. The Nifty was up 35 points at 3078. TCS, Allcargo, Wipro, Ashok Leyland, Ranbaxy, Tata Steel, SAIL, Tata Tea, Zee Tele, ONGC, Tata Coffee, Hero Honda, OBC and GAIL were the biggest gainers in the morning trade.

The NSE Nifty up 19 points at 3061.

However, Jet Airways and Shipping Corp were down little bit.

Wall Street ended with modest loss on Friday, Dow Jones slipped 30 points.

Corporate news:

• Tata Coffee acquires US-based eight O'Clock coffee co for $220 million
• EOC had net sales of $109 million, EBITDA of $27 million in 2005
• ANZ likely to pick up 14% stake in IndusInd Bank
• Anil Ambani says RIL violating non-compete agreement; Mukesh Ambani denies accusations
• Aditya Birla Nuvo buys Canada-based Minacs for $125 million

Jet-Sahara

• Jet has borne over Rs 220 crore (Rs 2.20 billion) of Sahara's losses
• Jet had agreed to share Sahara's losses starting January 2006
• Air Sahara losses in Jan-June period over Rs 450 crore (Rs 4.50 billion)
• Losses is one reason why Jet wanted to renegotiate prices

USFDA issues warning to Ranbaxy on deviations from current good manufacturing practices at Paonta Sahib

US court dismisses Novartis' appeal to block generic Zocor sale

Dr Reddy's launches generic version of Zocor

Ranbaxy gets USFDA nod for Simvastatin 80 mg

Dr Reddy's says generic Zocor being sold below 60% on day 1 of patent expiry

Ranbaxy expects patients shifting from Lipitor to Zocor

ITC Hotels planning to set up 2 properties in Bangalore for an investment of Rs 1000 crore (Rs 10 billion)

Inox Leisure to acquire Calcutta Cine (A multiplex)

United Western Bank Q4

Net loss at Rs 66 crore (Rs 660 million) versus loss of Rs 68 crore (Rs 680 million)

Net Int Income at Rs 46.2 crore (Rs 462 million) versus Rs 35.9 crore (Rs 359 million)

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