ONGC-Mittal Energy plans to set up its first refinery in Nigeria with an investment of ~US$4bn. (ET)
Tata Group to set up Mother Plant of Nano car in Sanand in Gujarat. (DNA)
Bharti Airtel to launch its DTH services in 62 cities from October 9, 2008. (FE)
RNRL to produce sections of Reliance MoU in High Court today. (BL)
Infosys is looking to expand its consulting business through acquisitions. (BL)
IOC gets a credit allowance of Rs1.5bn from New Delhi for uninterrupted supply of petroleum products to Kathmandu. (FE)
Kumar Mangalam Birla, promoter has increased his stake in Hindalco to 31.59%. (Mint)
Tata Sons sells 1% stake in TCS for Rs7.01bn. (ET)
IVRCL Infrastructure secures order worth Rs4.99bn from Andhra Pradesh Government. (FE)
United Spirits plans to offer 500 shares for each acre to grape growers. (BL)
NHPC defers IPO till market conditions improve. (ET)
United Phosphorus plans to spin off its fledgling toxic gas detection instrument business. (Mint)
ITC’s Wills Lifestyle to open 50 more outlets in next two years. (BL)
ICICI Bank, Dish TV launches interactive banking service. (Mint)
Spanco and Omnia BPO to form 50:50 JV for domestic BPO. (ET)
Opto Circuits drops plans to acquire company in Europe. (Mint)
Monnet Ispat plans to enter service sector and provide total solution for setting up coal washeries. (BL)
Tata Group to set up agri, marine biology research institute. (ET)
M&M to bring its car service business in Pune in next 12-15 months. (FE)
Everonn Systems has bagged Rs68.5mn project from Nagpur Municipal Corporation. (FE)
GVK Power & Infra divests entire stake in GVK Aviation. (FE)
Essar Oil signs a product purchase and infrastructure sharing MoU with IOC. (BL)
Bajaj Electricals plans to set up lighting unit in Saudi Arabia in next 15-18 months. (FE)
Bajaj Electricals secures Rs90mn Bandra Worli Sea-Link order. (BL)
Consolidated Construction Consortium is planning to enter into nuclear power projects sector. (ET)
Consolidated Construction Consortium secures Rs12.12bn order from Airport Authority of India to expand Chennai airport terminal. (BL)
Strides Arcolab gets USFDA approval for its oral dosage manufacturing unit in Bangalore. (DNA)
REcap partners LLC to acquire HOV services for ~Rs9.5bn. (BS)
Marksans Pharma is looking for more acquisition targets in US and Europe. (BL)
Country Club launches new clubbing concept to increase its presence globally. (FE)
Essar Group may drop plan to set up wind-turbine JV. (BS)
Provogue India plans to foray into food and grocery retailing sector. (BS)
Premji Invest picks up 3% stake in NSE for US$100mn. (BS)
Economic Front Page
The Government asks states to exempt local taxes on coal transfers by JV firms from captive coal blocks. (ET)
Exploration, refiners and miners gets permission to raise US$500mn per year from ECBs. (ET)
The Ministry of Shipping to propose on the revival of the ship building subsidy to the cabinet in the next week. (FE)
GSM based mobile operator’s approaches government to seek permission to separate their non-voice revenues. (BL)
The Government is considering overseas dollar bond float to ease Indian banks and companies access to liquidities. (BS)