Investors with a horizon of 6-12 months can consider following scripts for their investment. These companies have potential to give higher returns than index over a long term. TATA Steel has achieved its target of 708.

Corporate Highlights

• The country's largest car-maker Maruti Suzuki India launched a diesel variant of its SX4 sedan at an introductory price of Rs 7.74-8.62 lakh (ex-showroom, Delhi). The company expects the new variant to be as successful as other diesel cars from MSI's stable. Swift, DZiRE and Ritz are the three other cars from the company that are available in diesel variants. MSI claims that the SX4 diesel will give a mileage of 21.5 km per litre. The SX4 also comes in petrol and CNG variants.

• ADA flagship firm Reliance Communications (RCom) has launched third generation (3G) services in Kashmir. Last year, in December, RCom launched 3G services in Delhi, Mumbai, Kolkata, Chandigarh, Punjab, Jammu and Rajasthan.

• The Additional Solicitor General (ASG) of India has held Idea Cellular in violation of merger and acquisition norms and suggested stringent penalties, including a Rs. 300 crore fine and cancellation of 3G spectrum licences in four circles and 2G licences in six circles.

• Kingfisher Airlines Ltd won’t start selling global depository receipts (GDR) to raise up to $350 million (Rs. 1,579 crore) until its stock recovers and market conditions improve, raising concerns at some vendors as their payments are linked to the issue. The Mumbai-based carrier had planned a GDR issue soon after December but that’s been stalled by the slump in its shares.

Economic Highlights

The country's food subsidy bill is expected to jump by 27% to Rs 74,231 crore in the 2010-11 fiscal. This is due to a rise in support price and higher procurement and distribution of food grains via ratio shops. Last year, the government's food subsidy bill stood at Rs 58,242.45 crore. "The amount allocated for food subsidy during 2010-11 is Rs 59,354.56 crore. Based on the actual offtake, an additional requirement of Rs 14,877.63 crore has been sought for the current year," Food Minister K V Thomas said.