Daily News Roundup - Feb 11 2009

Reliance Industries to sell KG-D6 gas by March end or early April. (ET)

Wipro, TCS and WNS are vying for US$500mn BPO contract from Walmart. (ET)

Cisco is re-evaluating its JV with Satyam. (ET)

Cisco-TCS JV to develop solutions for virtualization of data centres. (ET)

IL&FS is poised to acquire management control of Maytas Infra. (BS)

DLF to invest Rs10bn in Orissa IT Park. (BS)

Ranbaxy gets nod to sell anti migrane drug in US. (ET)

Tata Power signs MoU with Hirco Developments to provide power supply and distribution management solution within Hirco’s Panvel SEZ area. (FE)

PTC India plans to foray into PE business with an initial investment of more than Rs5bn. (BS)

GE Capital, Carlyle, New Silk Route and Tata Capital are in race for a significant stake in PNB’s Housing Finance Company. (ET)

Infotech Enterprises signs MoU with Eurocopter, a Germany based company for the attack helicopter program of the Indian defence ministry. (BS)

Axis Bank will replace Zee in Nifty with effect from March 27.

Sasken has implemented pay-cuts and will work for only three days a week in the current quarter. (BS)

Wockhardt promoters pledge 40% stake in the company to raise around Rs3.5bn. (ET)

Kingfisher, Air India, SpiceJet and IndiGo have more than doubled their low-end fares with immediate effect. (BS)

Praj Industries to set up commercial demo ethanol plants. (FE)

MRF decides to cut output following a reduced offtake from OEMs and after sales market. (FE)


Finance Ministry is considering various proposals including lowering excise duties for auto components, automobiles and cement. (ET)

Petroleum ministry seeks oil bonds for Rs130bn. (ET)

DoT to review 2G spectrum allocation policy. (BL)

Aluminum Industry seeks 15% increase in import duty. (ET)

Government may soon remove licensing restrictions on imports of hot-rolled steel coils. (BS)

Government set to borrow additional Rs460bn. (ET)

GSM companies add above 9mn users in January 2009. (ET)

Steel minister seeks a ban on export of high-grade iron ore. (ET)

Maharashtra government and co-operative sugar factories have joined hands to double sugarcane production. (ET)

Shipping sector seeks Rs100bn corpus for acquisition of ships. (FE)