Daily News Roundup - Feb 12 2009

DLF stalls two of its biggest mid-income housing projects (BS)

Unitech Wireless signs tower sharing deal with TTSL and Quippo (BS)

Reliance Communications has reduced its GSM tariffs by 50% (BS)

Tata Power to import 7mn ton coal for its proposed power plants (BL)

NTT DoCoMo open offer to acquire upto 20% in TTML to start from February 19th (BS)

Government to infuse about Rs38bn capital in three PSBs – Central Bank, Vijaya Bank and UCO Bank (BS)

Tata Sons pledges 11.32% stake in Tata Tea for ~Rs3.9bn (FE)

Indian Hotels plans to sell its corporate office, Oxford House, in Colaba for an expected consideration of Rs600mn (ET)

PNB in pact with Oriental Insurance Company to sell insurance products (BS)

BEL has signed preliminary collaborative agreement with Astra Microwave of Hyderabad and SELEX Galileo of Italy (BL)

Hindustan Zinc raises silver prices by Rs450/kg (BL)

Nalco invites bids to sell 30,000 tonnes of alumina (BL)

Amara Raja Batteries has entered into pact with Maruti Suzuki to launch co-branded battery for replacement market (BL)

Nifty index to include Axis Bank in place of ZEE Entertainment from March 27th, 2009 (BL)

Patni Computer Systems drops bid to buy Satyam (ET)

ING Vysya, part of the ING Group is set to invest Rs6bn in the next two years in India (ET)

Indian Overseas Bank will sign MoU to acquire the assets and liabilities of Shree Suvarna Sahakari Bank. (ET)

Piramal Healthcare has roped in investment bank Credit Suisse as an advisor for a likely deal (ET)

Kinetic Engineering has announced a VRS for its 496 workers at its Ahmednagar plant in Maharashtra (ET)

Government okays major easing of FDI norms (BS)

Outstanding bank credit shrinks by Rs250bn mom in January 2009 (BS)

Domestic cement dispatches register healthy growth of 7.6% in April-January period (BS)

Government announced custom duty exemptions for the newspaper and magazine publishing industry (BS)

Government to provide sops to fertiliser companies for converting their existing urea plants running on furnace oil into gas-based units (BL)

Finance Ministry is examining whether to go for reduction of central sales tax by 1% from April 1 this year (ET)

Government plans to extend the tax sops for software & technology parks of India and 100% EOUs beyond March 2010 (ET)

Government may announce tax soaps for natural gas companies in the Interim Budget (ET)

Central Electricity Regulatory Commission will come out with new trading regulation for the country next month (FE)

Planning Commission member, Mr.Kirit Parikh, says that country might miss its target of adding 78.7GW power generation capacity in the current plan period (BS)

PNB chief, Mr.K C Chakrabarty has emerged as favourite candidate for RBI Deputy Governor post (BS)

SEBI to consider uniform face value of shares (BS)