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Nifty support likely at 4,825
Despite a positive start to the holiday-shortened week, the Sensex ended with marginal losses owing to selective profit taking. Markets witnessed stock-specific activity because of derivatives expiry-related cues. The Sensex neared the 17,000-mark during the course of the week as the index touched a high of 16,943 on Tuesday. However, after slipping to a low of 16,495, the index finally ended the week with a marginal loss of 48 points at 16,693.

Pearson expands footprint
Pearson, the British-based education and education technology company, which recently picked up a stake worth $30 million (around Rs 150 crore) in Educomp Solutions’ vocational business and online tutoring firm, TutorVista, is leveraging these tie-ups to increase its India footprint.

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World is getting hotter faster: US lawmakers
Hitting hard at global warming sceptics, powerful US lawmakers have accused them of "engaging in a policy of distraction" by promoting hacked e-mails, which claimed that scientists had exaggerated the crisis and asserted that the world is getting hotter faster.
International Business

Northrop keen to nurture Indian partnerships

Even though the field trials are on for Indian Air Force’s medium multi-role combat aircraft (MMRCA) project, Northrop Grumman, the US based defence and electronic equipment supplier is keen to nurture its partnership with Bangalore-based Bharat Electronics Limited (BEL) and Dynamatic Technologies. Northrop Grumman manufactures the active electronically steered array (AESA) airborne radars which sit on the F-16 super viper aircraft of Lockheed Martin, which is competing for the Indian Air Force’s MMRCA programme. - Outside the bun - Wal-Mart to continue sourcing from India - Cricket may have roots in Belgium - CBI begins probe into copter crash, visits Nallamala forests - IAF copters carry out flood relief operation in Bengal - Too many debits “We have done some business with Dynamatic and BEL for some other projects. We have identified them as potential partners for us in India. It’s really a matter of determining what we can do for them and what they can do for us,” Dave Wallace, Capture Lead, F-16IN Radar said. To a question whether the Indian partners would manufacture the AESA radars in case the F-16IN got through the bidding process, Wallace said, the partnership was conceptual and, “the discussions are petty sensitive right now”. US-headquartered aerospace supplier Lockheed Martin is one of the six bidding companies who have offered their aircraft for the MMRCA project. The field trials and technical evaluation of the six aircraft that have bid for the programme including the Saab Gripen, Eurofighter Typhoon, Dassault Rafale, Mikoyan MiG-35 and the American F-16IN is going on in Bangalore. The defence ministry has allocated about Rs 42,000 crore for the procurement of 126 multi-role combat aircraft to strengthen the IAF fighter fleet. Northrop Grumman has already selected BEL and Dynamatic Technologies to manufacture components of the F-16 APG-68(V)9 fire control radar as part of a broader initiative to engage Indian industry as strategic business partners. “Following an extensive evaluation of the Indian defense electronic manufacturing base, we feel that these two companies are best positioned to offer the depth of capability required to meet our customers’ demanding cost, schedule, and quality standards,” Katie Gray, vice president of Northrop Grumman’s Global Sensor Solutions business unit had told earlier.


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