Shares of Mumbai-based Raj Oil Mills will debut on the bourses today, 12 August 2009. The company had priced its initial public offer at the top end of the Rs 100-Rs 120 price band. The IPO had closed for on 23 July 2009, with a total subscription of 1.24 times.

Tata Steel has reportedly reduced prices of long products, used primarily in the construction sector, by Rs 1,000-1,500 a tonne with immediate effect due to market conditions and low demand on poor monsoon.

A consortium of DLF and IL&FS has reportedly bagged a contract from the Haryana Government for the construction of the metro system in Gurgaon. The project called DLF MetroRail, Gurgaon has been bagged on concession by the consortium for a period of 99 years to build and operate the metro system at a cost of Rs 900 crore. A special purpose vehicle (SPV) is likely to be formed wherein DLF will have a 26% stake while IL&FS will hold the rest. Reports added that the SPV is likely to raise Rs 700 crore within the next six months.

Sun Pharmaceutical Industries got USFDA approvals for two Abbreviated New Drug Applications (ANDAs), for generic versions of Eloxatin and Imtrex.

Reliance Industries (RIL) has reportedly filed a caveat in the Supreme Court, seeking to be heard before it considers any petition by National Thermal Power Corporation (NTPC). NTPC is expected to file a petition challenging last month's order of the Bombay High Court that allowed RIL to amend its plea in its dispute with NTPC.

RIL had bid to supply gas to NTPC's projects for 17 years at $2.34 per mmbtu. But RIL did not sign the contract and the matter is pending in Bombay High Court for resolution.

Pharma companies including Cipla, Ranbaxy Laboratories, Strides Arcolab, and Natco Pharma may see action on reports the government may award a contract for manufacturing a vaccine used in treating swine flu.