Daily News Roundup - Nov 19 2008

Farsi block of OVL, ONGC’s 100% subsidiary, has secured the feasibility nod from the Iranian government. (ET)

OVL wins two oil and gas blocks in Colombia. (ET)

Reliance Industries is looking to raise Rs50bn from LIC. (DNA)

ICICI Bank halves its target for loan growth to 15%. (DNA)

BHEL bags an order worth Rs13.25bn from Andhra Pradesh Power Generation Corporation. (ET)

DLF defers projects, reduces manpower as demand slumps. (ET)

Sobha Developers pledges 5.9% stake to Switzerland based Bank Sarasin. (ET)

Jindal Steel & Power not to cut production and to go ahead with capex plans. (ET)

Infosys and Wipro are evaluating SAP service providers, such as BearingPoint and IDS Scheer AG, for a potential acquisition. (ET)

TCS opens fourth global delivery centre in China. (ET)

L&T bags Rs7bn order for hydrogen generation units. (BL)

NMDC may cut local iron ore contract prices. (DNA)

NMDC seeks foreign partner for Bengal coal project. (BS)

Essar Oil has failed to complete financial closure of its refinery expansion project. (DNA)

United Spirits plans to introduce two more variants of whisky from the collection of Whyte and Mackey brands in the country. (ET)

Parsvnath forms JV with Spanish company to bid for infrastructure development projects. (ET)

Ess Dee Aluminium buys 90% stake in India Foils for Rs1.2bn. (ET)

Godrej group is scouting for acquisitions in emerging markets. (ET)

Panatloon Retail pulls out of Alpha Future Airport Retail JV. (BS)

SEBI settles insider trading case of Apollo Tyres on payment of consent fee of Rs10mn. (BS)

RPG Enterprises to invest Rs15bn in next 15 months in expanding its retail business across India. (FE)

Adani group signs pact to develop auto hub at Mundra port. (BL)

Educomp is looking to buy more pre-school chains next fiscal. (DNA)

Allcargo will renew its Rs3bn capital expenditure plan. (DNA)

Gati to increase tariffs by 5-10% by January. (DNA)


New rules for stock lending and borrowing will be in place within a month, says Sebi. (DNA)

Government has imposed an import duty of 5% on some iron and steel products and 20% on crude soyabean oil. (ET)

DGH not in favor of dual price policy for oil and gas producers in the country. (DNA)

FM asks India Inc to cut prices to spur demand. (ET)

Government is examining the possibility of notifying jet fuel as a ‘declared good’. (ET)

Allahabad HC refuses to pass any interim order staying the sugarcane SAP. (BS)

Government may cut fuel prices by December end. (BS)

Government to inject Rs500bn in infrastructure projects. (BS)