Daily News Roundup - Dec 19 2008

Satyam Computers plans buy back offer. (ET)

Wockhardt looks for potential buyers for its French subsidiary Negma laboratories to repay debt to investors. (ET)

PTC India plans to setup USD1bn offshore fund to finance power projects in India. (ET)

Chanda Kochhar set to be new ICICI CEO. (ET)

DLF unveils retail plans, targets USD1bn revenue in five years. (ET)

Hyundai motors set to launch i20 by December end. (ET)

Fortis Healthcare is in talks with two leading players – Manipal Hospitals and Wockhardt hospitalsto buy stake. (ET)

J.D Power Asia pacific assigns top rating to Maruti Suzuki .(ET)

Dishman Pharmaceuticals plans bond issue as IFC talks fail.(ET)

Hexaware Technologies has revamped organization structure along with its major industry focus area – financial services, travel and transportation and emerging markets. (ET)

Coal India eyes three Indonesian mines.(ET)

JLR in line for I billion pound bail out package. (ET)

Hyundai to lay off 2000 temporary workers.(BS)

Supreme Court asks Indian patent office to decide on patent validity of Roche before January 31st 2009. (BS)

World bank likely to lend USD600mn to Power Grid.(BS)

Bosch to shut Bangalore plant for a week.(BS)

MRF announces three day plant lock out. (BS)

GMR Holdings raises stake in GMR Infra.(BS)

Jindal Polyfilms approves Rs6bn investment in wholly owned subsidiary Hindustan Thermal Power generation. (BS)

Tata Groups acquires 3.9% in Steel Strip Wheels.(BS)

Thomas Cook India plans to raise Rs2bn via rights issue.(BS)

HDFC to raise Rs10bn through non-convertible debentures.(BS)

Hindustan Zinc cuts zinc prices by Rs2100/ton effective from today.(BS)

BGR Energy ties up funds for 600 MW project.(FE)

L&T considers exiting its petroleum dispensing pumps business.(FE)

DLF plans to add five new international brands to its existing portfolio of its subsidiary DLF brands. (FE)

Honda Siel cars advances launch of Jazz by six months.(FE)

SBI cuts rates by 50-100bps on MSME loans.(FE)

NABARD and IL&FS enter into pact to fund rural infrastructure development. (FE)

Unitech plans to invest Rs25bn to launch ten thousand residential units in the next fiscal.(FE)

Government asks ONGC and Oil India not to extend discounts to public sector OMC’s.(BL)

Marg limited ties up with Surbana to introduce prefab construction technology.(BL)

Zandu Pharma may sell loss making Zandu chemicals.(BL)

McNally Bharat bags two orders from Vedanta group. (BL)

Elecon Engineering bags Rs1.2bn order from Mundra Port.(BL)

Bharti Retail plans to open 30 stores in NCR in a year.(Mint)

Economic Snippets

Inflation at nine month low of 6.84% on fuel price cut. (ET)

DOT may ask cellular companies to cut off handsets without valid code.(ET)

Government unlikely to cut fuel prices further.(ET)

Government tells banks to cut home loan rates.(ET)

Coal ministry plans to cancel coal mines allotted to companies incase of delays in development of captive mines.(ET)

Government not to hive off Dabhol LNG terminal.(ET)

Interest rates on FD’s may fall by 100bps.(ET)

ADB has sanctioned Rs40bn for four hydro power projects totaling to 808MW in Himachal Pradesh.(BS)

Rs200bn stimulus for manufacturing companies and NBFC’s routed through stretched asset stabilization fund. (BS)

New oil subsidy plan likely in January, subsidy share of upstream firms for current year may be capped at Rs300bn.(BS)

Tyre supplies to vehicle makers drop by 70%.(BS)

USD3bn funding from world bank for core sector.(FE)

CERC defers price cap on interstate short term sale.(FE)

Tyre companies to resort to cutting output. (BL)

December quarter may be worst in ten years for IT as customers in US offshore reduce business and bargain for lower prices. (Mint)