Daily News Roundup - Nov 18 2008

Infosys Technologies maintains its quarterly and FY09 revenue guidance. (BL)
Air India to receive a US$1bn loan and Jet Airways is close to striking a deal for a Rs5bn loan from Indian Overseas Bank for aircraft funding. (BS)
Five state-owned entities have come together to lend about Rs8bn to Gammon Infrastructure Projects Ltd for setting up container terminal at Mumbai port. (Mint)
Unitech Ltd to sell its 200-room budget hotel Courtyard by Marriott in Gurgaon ahead of its inauguration in January 2009. (BS)
Unitech plans to sell all its six hotel projects under construction in Gurgaon and Kolkata, to reduce its capital expenditure and raise cash to fund its other ongoing projects. (ET)
Unitech repays Rs2bn loan to Indiabulls Financial. (ET)
Holcim may review the current capacity expansion projects in India amid global slowdown and poor pricing situation. (BS)
Cairn India Ltd has approached the Petroleum Ministry to take an early call on the refineries it will nominate to lift Rajasthan crude. (BL)
L&T has bagged four contracts worth Rs16.37bn from HPCL-Mittal Energy and Hyderabad Metro Water Supply. (FE)
UTV is shutting down its Delhi operations to cut costs. (BS)
Reliance Industries is keen to sell products in the domestic markets from its existing export oriented refinery and the soon to be commissioned refinery at Jamnagar SEZ. (FE)
Suzlon Energy is foraying into solar energy sector and has identified sites in Gujarat and Rajasthan. (ET)
The three media companies TV18, Dow Jones and Lokmat seek FIPB nod for expansion. (BS)
Bharti Airtel has launched VeriSign Identity Protection (VIP) services for its enterprise customers in India. (FE)
Ispat Industries may cut as much as 40% of its production as demand slumps from Ashok Leyland and Tata Motors. (BS)
Infosys eyes US$600-700mn acquisitions in Europe and Japan. (BS)
JSW Steel has tied up with UK-based Severfield-Rowen to float an equal-stake joint venture company for manufacturing construction steel. (BS)
The Government may allow Gail India and NTPC to keep 5mtpa LNG terminal as an integral part of the 1,850MW power project. (ET)
Vijay Mallya is likely to divest 15% stake in United Spirits to the world’s largest liquor manufacturer, Diageo. (FE)
Tata Chemicals plans to ramp up its current capacity in Gujarat by 66%, from 0.9mtpa to 1.5mtpa, in a phased manner. (BS)
Coal India Ltd to finalise the deals to develop seven underground and 19 abandoned mines in next six month's time. (BS)
Jubilant Organosis has acquired Canada-based TrialStat Clynical Analytics for a consideration of Canadian dollar 0.75mn.
Odyssey puts on hold expansion in new cities. (BL)
Tata Investment Corp. Ltd has approached shareholders seeking their approval to make provisions for up to Rs1.35bn for current and future diminution in value of investments. (Mint)
General Motors Corp to raise US$230mn by selling its 3% stake in Suzuki Motor Corp. (BS)
GVK Power plans to divest 25% stake in its energy business, valued at ~US$500-700mn. (ET)
Ranbaxy expects early resolution to USFDA ban. (ET)
Oil PSU employees have deferred their proposed indefinite strike by one week. (ET)
Rio Tinto and ArcelorMittal, and domestic majors including RNRL, Sterlite, Essar and JSW Steel have evinced interest in reviving 18 abandoned mines of Coal India. (ET)
SBI, ICICI Bank and PNB have raised non-resident deposit rates. (FE)
Bhoruka Power plans to raise second round of PE investments in the next year in a bid to increase its installed power generating capacity in renewable energy sector to 300MW by 2012. (FE)
Himatsingka Seide has paid Rs92mn to HDFC bank to settle dispute over a foreign exchange derivative contract. (ET)

Mutual funds have borrowed about Rs110bn until Friday from banks through the special repo window to tide over the liquidity crisis. (BS)
The government is working on a fiscal package for exporters and reviewing the target of US$200bn for this fiscal. (BS)
USFDA to set up office in India by September 2009. (BS)
Banks hike NRI deposit rates by 75 basis points. (BS)
Major public sector banks expect loans for purchase of cars and other passenger vehicles to grow 20-25% in the current fiscal.(BL)
The Government may increase period for post-shipment credit by another 30-60 days and is also reviewing refund of Rs12bn of terminal excise duty to exporters. (ET)
Group of Ministers will meet today to decide on FIIs being allowed to acquire a higher stake than the set FDI limit. (ET)
The Petroleum ministry will soon seek the approval of the cabinet for rig holiday to oil exploration and production companies. (FE)
India will have power capacity addition of 13,000 MW by FY09 against the capacity addition of 7,300 MW in FY08. (FE)