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ITC open to raising stake up to 25% in EIH
Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH. http://smallpersonalloans.org.uk

Markets at a glance
Markets closed lower with the Sensex losing 3 per cent to close below the 17,000 mark at 16,810.80 during the last week. FIIs were net buyers to the tune of Rs 1,083 crore for the week ending October 22. However, selling over the last two trading sessions by FIIs in frontline stocks, disappointing global cues and an uptick in domestic inflation were prime reasons for the correction.

News of the day

Add debt for portfolio stability
I am investing Rs 2,000 via SIPs in ICICI Infrastructure, Reliance Regular Savings Equity and Reliance Diversified Power Sector fund for the past 18 months. I want to continue investing in them for the next 10 years. Are these schemes good for the long term? I intend to invest another Rs 5,000 through SIPs. Please suggest whether I should increase the amount in the existing schemes or go for HDFC Top 200 and IDFC Premier Equity Plan A. I can take reasonable risk.
Management

Sun Pharma, Forest settle US suit on Lexapro

Sun Pharmaceutical Industries and its subsidiary, Caraco Pharmaceutical Laboratories, have reached a settlement agreement with drugmaker Forest Laboratories and licensing partner H Lundbeck AS, over a pending patent infringement dispute over Forest’s blockbuster antidepressant, Lexapro. - Sun Pharma gets USFDA nod for generic anti-cancer drug - Sun extends Taro open offer to April 17">Sun extends Taro open offer to April 17 - Sun Pharma announces US nod for Topamax tablets - Sun, Taro chiefs meet for out-of-court settlement Caraco had filed an application with the US Food and Drug Administration (USFDA) to launch a cheaper version of Lexapro, but Forest and H Lundbeck AS moved to block the drug, alleging it infringed the company’s patents. Under the agreement announced by the companies, Forest will give Caraco patents to Lexapro, when other generic versions of the drug become available. Caraco will also take over sales of certain Forest products.


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