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

Vijay Mallya-owned Kingfisher Airlines is likely to join global airline alliance One world by the year-end and seeks to leverage this membership to increase share in the domestic market. One world is a global alliance of 11 airlines that serves 800 airports in nearly 150 countries. The alliance enables its members to offer their customers more services by giving them a wider range of connectivity to any destination covered by the member airlines. At present, Kingfisher is the second largest air carrier by market share.

• Indian refiner Essar Oil is set to buy Royal Dutch Shell's Stanlow refinery in the United Kingdom for about $350 million to $400 million.

• Larsen & Toubro, Gammon-Ansaldo and other equipment makers, who hope to rival BHEL in India's power equipment market, fear they would lose out heavily to Chinese rivals as private power firms are willing to place orders only with tough conditions that add costs to their supplies. Private power firms such as Tata Power, Reliance Power, Patel Engineering, Visa Power and Moser Baer Projects are asking equipment suppliers to give an undertaking that their foreign technology suppliers will ensure proper functioning of the equipment after delivery.

Economic Highlights

• Country's foreign exchange reserves declined by $752-million to $298.663-billion for the week ending February 11, the Reserve Bank said on Friday. India's total foreign exchange reserves had stood at $299.415-billion the previous week. Foreign currency assets, the biggest component of the foreign reserves were down $707-million for the week ended February 11, the Reserve Bank said in its weekly data released this evening.