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Mumbai: In yet another mega acquirement in the steel segment, JSW Steel has adopted three steel companies in Texas, U.S for $900 million to get a foothold in the North American market.

Divya Arora, assistant manager, Karvy Stock Broking told that today selling pressure was seen in the stock markets. There was fear in the market that China might raise the rates of interest that resulted in selling pressure in the Indian market whilst the genuine news of rate increase came after market hour. IT stocks are touching new lows day-after-day. There was some profit booking in the fertilizer stocks.

Sujana Towers has listed at a price of Rs 122.20.

Vijay Mallya has announced his plans to use Air Deccan to fly abroad by year 2008. Currently, any domestic airline has to operate for 5 years to be eligible for flying overseas. The booming Aviation industry is asking Government to change the norms regarding this 5 year period.

Ranbaxy Laboratories has got sanction from the US Food and Drug Administration (USFDA) to produce and market Hydrocodone Bitartrate and Acetaminophen Tablets USP, 75 mg/750 mg, 10 mg/500 mg, 5 mg/500 mg, and 10 mg/325 mg strengths.

Housing Development Infrastructure Limited has informed the exchange about its plans to buy Kilburn Engg's Bhandup Unit. During afternoon trading, Housing Development and Infrastructure, HDIL is hovering near Rs 510. During the day, it touched an intraday high of Rs 530 and an intraday low of Rs 479.10. The stock ended the day at 490 on NSE with a net loss of Rs 30.