Daily News Roundup - Feb 18 2009

JSW Steel will commission its 3mn ton extended production line at Vijayanagar today, making it the largest single-location steel producer in the country. (FE)

Reliance Industries may restart production from KG-D6 next month but will shut it again in April. (FE)

Hindalco plans to write off Rs70bn from net worth. (BS)

HUL plans to enter into the economy segment in the tea market with Sehatmand tea. (Mint)

DLF lowers prices in Hyderabad and Bangalore. (Mint)

Sterlite to buy Asarco at half the offer rate. (BS)

NTPC is likely to source 30-40mn tons of coal from coal reserves in Indonesia, Mozambique or South Africa. (ET)

SAIL to set up steel processing plant in UP. (FE)

SAIL may be able to buy coking coal from BHP Billiton at US$150 per ton. (BS)

Reliance Power to start construction work at Butibori next week. (BS)

GSPC plans two 1,000 MW power projects. (BS)

Government will consider 16 SEZ proposals including those from DLF, L&T and Navi Mumbai SEZ next week. (FE)

Supreme Court has ordered customs department not to take any action against ITC. (FE)

Maruti Suzuki India expects volumes to grow by 5-7% for the month. (FE)

Reliance Capital set to lend to corporates, with focus on SME’s. (Mint)

Spencer’s Retail plans to focus more on private labels. (Mint)

Private equity firms are in talks with DLF to buy a majority stake in its affiliate company, DLF Assets. (ET)

Jain Irrigation forays into dehydrated vegetables market. (FE)

Government has sought approval from the company law board to appoint one director each on Maytas Infra and Maytas Properties boards. (ET)

Fortis Healthcare has entered into a management contract with Apollo Modi Hospital, Rajasthan. (ET)

Satyam calls back overseas staff as projects shut down. (ET)

Dassault Systemes to tie up with KPIT Cummins Infosystems to develop industry specific solutions. (ET)

DTH license fees may be slashed to 6% of revenues. (FE)

Emami to supply 90 ton bio-diesel per month to CTC. (BS)

Air India pushes for fare hike. (ET)

Premji Invest, Wipro’s investment vehicle, opposed to the reverse merger between Blue Green Construction and Investments and Subhiksha. (ET)

CERC has rejected to hike tariff of Dhabol project. (FE)

Kingfisher, NACIL and Jet Airways owe public sector oil companies Rs22bn as payment for jet fuel. (FE)

Apollo Hospitals’ promoters pledge 18.2% stake. (BL)

Ashok Leyland promoter pledged 17.8% stake. (BL)

JSPL to mine diamonds in Congo. (BL)

3G spectrum auction is likely to be conducted by March end. (ET)

Government may extend the seven year tax holiday to natural gas producers too. (ET)

Government is considering a ban on FDI in manufacture of cigarettes in the country. (ET)

Government may levy upto 35% safeguard duty on certain aluminium products. (ET)

Government will fund only 50% of the expenditure incurred by major automobile companies for R&D. (ET)

Government may allow private companies to set up captive cargo handling berths at the existing 12 major ports. (ET)

Planning commission is mulling the idea of allowing power companies to sell 3% of their generation in the open market. (ET)

Government has not allowed foreign airline companies to pick up stake either directly or indirectly in commercial airline sector. (FE)

Government is likely to announce more sops for export oriented sectors. (FE)

Subscriber base for 2G may face changes soon. (FE)

Media and entertainment industry registered a 12.4% yoy growth. (FE)

Changes in foreign investment norms will affect future ability of some Indian firms to invest in their subsidiaries. (Mint)

India to miss US$200bn trade target this fiscal. (BS)