Daily News Roundup - Jan 16 2009

GAIL may get exclusive marketing rights for distribution of Reliance Industries D6 gas from KG Basin. (ET)

Ranbaxy has missed the deadline to convert equity warrants issued by Jupiter Bioscience. (ET)

M&M plans more launches in 2010. (ET)

Essar’s Aegis may bid for Satyam BPO. (ET)

Lazard plans to sell its 5.3% holding in Satyam. (ET)

IndiGo plans to lease 6 new A320’s this year. (ET)

Kingfisher gets approval to Kuala Lumpur, Bangkok and Singapore. (ET)

PSU oil companies hike ATF prices by 3.4%. (ET)

World Bank plans to issue Power Grid US$1bn loan. (ET)

Mutual funds willing to bail out cash strapped Unitech. (ET)

Three new directors join Satyam board Mr Tarun Das, Mr T.N. Manoharan and Mr Suryakant Balkrishna Mainak. (BL)

Hiranandani Group has cancelled a sub contract awarded to Maytas Infrastructures for development of a township in Chennai. (FE)

Tyre majors cut prices sharply. (FE)

Punj Lloyd bagged a Rs13.1bn contract in JV with Public Works Company Tripoli for execution of utilities in Libya. (FE)

Leela Group puts 3 of its ventures on hold. (FE)

ICAI says KPMG cannot be auditors to Satyam since it is not registered. (BL)

Ancillary units for the Nano project are in talks with Tata Motors for compensation. (BL)

Reliance Industries to commence exports from its Jamnagar SEZ from this month. (BL)

IFC likely to sanction US$12m loan to PT TVS Motor Company, Indonesia, a subsidiary of TVS Motor. (BL)

ONGC has inked MoU with Australia’s Arrow Energy for co-operation in the coal bed methane sector. (BL)

Matrix Labs assigned purchase rights for a portion of Astrix Laboratories Ltd to its parent company, MP Laboratories (Mauritius) Ltd. (BL)

Andhra Bank reduced the BMPLR by 75 basis points. (BL)

Ranbaxy Laboratories plans to exit its Japanese JV — Nihon Pharmaceuticals. (BS)

Motorola plans to shut its India unit. (ET)

GTL plans buy back of shares up to 25% of its networth. (BS)

JV between Sasken and the Tata Group formed almost two years ago has been called off. (BS)

Maytas Infrastructure may lose Hyderabad Metro project. (BS)

ADAG rethinks its foray into steel, shipping sectors. (BS)


Inflation dips to 5.24%, its lowest level since February 2008, on cheaper food items. (ET)

Government clears Rs30.8bn NHDP projects. (ET)

FDI inflows hit a 15 month low of US$1bn. (ET)

Government has cleared a new formula for MSP of agricultural commodities. (FE)

Commerce ministry is planning to relax norms governing special economic zones (SEZs). (BS)