Daily News Roundup - Nov 20 2008

TCS is likely to win the e-governance contract to computerize ESIC. (ET)

BHEL in talks for JV with UK based Sheffield Forgemaster International and Japan’s Kobe Steel for nuclear forging units. (BL)

Maruti launches A-Star with a price tag of Rs3.46 lac for the base version. (ET)

NALCO gets nod from Indonesian government for Rs170bn aluminium smelter and captive power projects. (FE)

HUL hikes prices of various products by 1-28% since October 2008. (BS)

Maruti cuts production at Gurgaon plant by 5%. (BS)

Biocon is planning to launch drugs for the treatment of cancer, diabetes and auto immune diseases in India. (ET)

DLF requests Haryana government to refund license fees worth Rs2.3bn for various commercial and residential projects in Gurgaon. (ET)

RIL is expected to start commercial production from D6 KG-Basin field by next month according to Canadian partner Niko Resources. (ET)

RIL writes to government to re-start retailing petrol and diesel. (ET)

The DLF-Fortis hospital joint venture facing delay. (FE)

IndusInd Bank gets RBI nod for expansion. (ET)

Asian Paints shuts its phthalic anhydride (PAN) plant in Gujarat. (BS)

Tata Steel aims to double its return on capital in the next four years via improving process at the European factories. (BS)

Powergrid boards approve investment plans of Rs75bn to set-up three power transmission projects. (BS)

HCL-Tech inks deal with Xerox for managed printing services. (ET)

Aurobindo Pharma gets US FDA nod for its alfuzosin hydrochloride extended realize tablets. (DNA)

Fitch affirms ICICI ratings, says market disruptions can hurt. (BS)

Andhra Bank hikes NRE term deposit rates. (BS)

Sobha Developers has reduced prices by 8% on an average in 25 of its 34 ongoing residential projects last week. (DNA)

MindTree has revised downwards its recruitment plans for the current fiscal by 40%. (DNA)

GAIL eyes Rs500bn revenues by FY11. (DNA)

US drug major Eli Lilly sues Wockhardt on anxiety drug patent. (FE)

NTPC and various state power firms appeals to coal ministry to resolve coal shortage issues. (FE)

Economic Front Page

CMIE revises India’s economic growth forecast to 8.2% from the earlier expectation of 8.7%. (ET)

Government to spend Rs8bn for uranium exploration projects. (BL)

RBI makes recast of realty loans tougher, forcing builders to cut house prices. (ET)

Import of sensitive items up 27% in first half of current fiscal. (ET)

Bailout package for Indian industry hit by global slowdown is likely to be finalized by this weekend. (ET)

Credit off take falls by ~Rs166bn between in week ended November 7th 2008. (ET)

Crude oil slips to 22-month low, touches US$53 per barrel. (BS)