upon exercise of 13425 options by eligible employees under the itc employee stock option scheme consequently the issued subscribed share capital of the company stands increased to rs 2476426370 divided into 247642637 ordinary shares of rs 10 each at 1150 am selan exploration technology ltd has entered into a production sharing contract and crude offtake and sales agreement with the ministry of petroleum and natural gas for the exploration of oil and gas with respect to the ognaj and karjisan fields in the state of gujarat at 1145 am cement stocks also contributed to the weak trend in the markets associated cement companies lost 04 per cent to rs 269 and grasim industries shed 09 per cent to rs 1163 at 1140 am stmicroelectronics europes largest chipmaker will invest 100 million in its indian rd unit spread over five years to ramp up design activities president pasquale pistorio said at 1135 am punjab alkalies chemicalswill reinvite expressions of interest eoi and carry forward the process of disinvestment strategic sale by the punjab state industrial development corporation ltd psidc of its 4426 equity stake in the company with the assistance of advisors at 1130 am bharat gears geared up 10 to rs 2565 on strong buying interest the stock is trading with volumes of over 3104 shares on the bse at 1125 am sterling biotech touched a 52week high of rs 13950 on firm buying support the share was trading at rs 13405 up rs 725 or 572 in midmorning trades at 1120 am technology scrips were the worst hit pulling the sensex urther down infosys wipro and satyam were subdued at 1115 am psu pivotals lost ground after opening on firm footing hpcl was trading lower by 073 at rs 47330 mtnl down 057 to rs 13950 and bhel down 023 to rs 619 were also trading lower on selling pressure after recent gains at 1110 am power sector pivotals remained subdued tata power down 120 to rs 38825 and reliance energy down 056 to rs 662 eased on profit booking after recent gains at 1105 am pcs industries ltd has informed bse that it has set up a manufacturing assembling unit at mapusa goa at 1100 am org informatics reprted that it is contemplating to sell off one of its small unit namely spec which is engaged in the business of mechanical equipments making this is small undertaking and incurring losses since last 45 years the company may discuss the matter with other parties subject to approval of the shareholders of the company at 1055 am indo count industries ltd has informed bse that the production of the unit affected by fire has resumed operations the production is expected to achieve normalcy by first