Daily News Roundup - Feb 10 2009

Tata group pledges shares of 3 companies; Tata Steel, Tata Power and Tata Teleservices Maharashtra; to raise funds upto Rs65bn. (FE)

M&M are in talks with Australian aerospace firms. (Mint)

Bajaj Auto may hike its stake in KTM Power Sports, Europe, to 30% from 25% currently. (ET)

ONGC achieved an all time high production of oil and gas of 0.2028mn tons of oil till December. (ET)

ONGC issues bids to hire four rigs. (FE)

BHEL bags four orders worth Rs70bn. (FE)

Jet Airways plans to phase out most of its expatriate pilots and not fill the vacant positions in the coming months. (FE)

IDBI and Bank of Baroda lend Rs6bn to Satyam. (FE)

Aditya Biral Retail Ltd plans to renegotiate lease rentals and close unviable stores. (Mint)

ICAI has found two members of Lovelock and Lewis guilty of professional misconduct in the Global Trust Bank case. (ET)

Chola DBS, one of the largest NBFCs of the country, plans to utilize a part of its securities premium reserves to offset losses. (ET)

Opto Circuits launches catheter to treat coronary artery disease. (ET)

Mumbai International Airport Ltd, a GVK Group company, has appealed for a 10 year tax exemption to the Maharashtra government. (FE)

Government has allowed GMR to levy Rs200 fee per flier flying out of Delhi as fee to enable it meet its shortfall of Rs18bn. (FE)

BEML eyes a slice of the global high speed train parts market. (FE)

RCF lines up Rs40bn to restart Trombay plant. (ET)

Petroleum ministry may ask Essar Oil to pay more royalty for Ratna oil. (ET)

Kingfisher Airlines pilots plan to protest against pay cuts. (ET)

Subhiksha may sell stake to raise funds. (ET)

United Spirits chief, Vijay Mallya, plans to sell up to 49% stake in Whyte & Mackay. (BL)

SAIL January output down 2%. (BL)

Sterlite Projects to consider allotment of preference shares on February 11. (BL)

Nagarjuna Construction bags Rs7bn orders.(BL)

GSPC to relocate LNG terminal within Mundra port. (BL)

Infotech eyes buys in aerospace sector. (BS)

Rs121bn Hyderabad Metro Rail Project awarded to Maytas Infrastructure may be taken back if it is unable to achieve financial closure. (BS)

Coal India shortlists 9 companies for developing underground mines. (BL)

Central Statistical Organization pegs India’s GDP growth at 7.1% for 2008-09. (FE)

Combined fiscal deficit may be 10% of GDP. (Mint)

Per capita income doubles to Rs38,084 in 7 years. (BL)

SEBI is planning to make it compulsory to disclose the end use of funds raised through pledging of shares. (ET)

TRAI said that the CDMA companies will have to match top GSM bids in 3G auction. (ET)

Government may hike fund allocation to flagship programs by approximately 16% during the interim budget. (ET)

Steel ministry recommends import duty upto 15%. (ET)

Government may cut loan rates to NBFC’s by tpo 200bps. (ET)

Bond yields rise as government borrowing increases. (FE)

Vehicle sales decline by 7.4% in January. (FE)

Agricultural sector to witness a growth of 2.6% in FY09. (FE)

India’s tea exports rise by 10%. (Mint)