Daily News Roundup - Dec 5 2008

Reliance Industries to sell KG basin gas at US$4.2 per unit. (ET)
Tata Motors unit may see another three day block closure at its commercial vehicle plant at Pimpri. (ET)
Punj Lloyd enters into an agreement with US based Thorium Power for nuclear fuel technology JV. (BS)
BPCL signs MoU with MoneyGram International to offer international money transfer services. (BS)
Grasim and Lafarge not to defer RMC expansion plans. (BS)
BHEL wins a contract worth Rs20bn from Oman. (BS)
ACC to raise Rs2bn through non-convertible debentures. (BS)
Communication and IT ministry to refund Rs1.1bn to RCOM, which the company paid as entry fee for offering dual technology in six circles. (BL)
Dish TV plans to add high definition content as a separate bouquet in the next few months. (BS)
Kerala High Court puts a stay on Rs50bn Lanco Infratech Vizhinjam project. (DNA)
Tata Steel production of hot metal rose 27% in November yoy. (DNA)
Cipla receives US FDA approval to market multiple strengths of Pamidronate disodium injection. (DNA)
Wockhardt unit gets US FDA approval to market a pediatric drug. (DNA)
Ashok Leyland November sales drop by 60% yoy. (BS)
Orchid Chemicals receives US FDA approval for Divalproex Sodium. (BL)
Sundaram Industries plans to set up JV with Bridgestone to make anti-vibration rubber components for automobiles. (BL)
Essar Oil plans Rs40bn LNG terminal in Gujarat. (BL)
Kingfisher Airlines to start non-stop Mumbai to London flights from 5th of January 2009. (BL)
SBI to raise Rs20bn through issue of upper tier II bonds. (BL)
Hindustan Zinc cuts zinc prices by 4.5% and keeps lead prices unchanged. (BL)
Concor’s Durgapur terminal is likely to be commissioned in a month. (BL)
Shoppers Stop is planning to go ahead with expansion plans despite slackening sales and credit crunch. (ET)
Maytas Infra bags order worth Rs2.2bn from Powergrid. (ET)
Tata’s call off the proposed JV plans with CitizenM, a dutch company. (ET)

Inflation for the week ended 22nd November stood at 8.4%. (ET)
Indian railways hikes freight classification for cement, coal and coke by 7-8%. (DNA)
Government is likely to cut fuel prices next week. (ET)
India likely to add 1,500MW nuclear power next year, says Atomic Energy Commission chairman. (BS)
SEBI extends validity period of IPO’s to one year. (BL)
Ship breaking industry gets tax relief from Supreme Court. (BS)