Daily News Roundup - Feb 24 2009

ONGC’s onshore drilling schedules are expected to get delayed.(BL)

Andhra Pradesh (AP) government cancels a Rs11bn contract for development of multi utility AP international centre in New Delhi, awarded to the consortium, headed by Nagarjuna Construction Company.(BL)

Hotel Leelaventure repurchases US$30mn worth FCCB.(BL)

ICICI Bank to go slow on auto loans disbursal.(BL)

Kingfisher Airlines seeks permission from the petroleum ministry to extend the date for paying dues to PSU oil companies for ATF.(BS)

DLF cuts OMR project prices.(BL)

ICICI Venture, which holds 23% stake in Subhiksha, is working on a revival plan to put the company back on track.(ET)

Bombay Stock Exchange announced 12:1 bonus issue ahead of IPO.(FE)

Spice Group head says he is interested in bidding for majority control of Satyam Computers, but would reconsider if a smaller stake was offered.(BL)

DLF in talks with banks, LIC to raise Rs10bn to pay off short term debt.(FE)

Tata Communications said it was exploring 'alternative options', including the sale of its stake in Tata Teleservices to keep its capital expenditure plans on track.(DNA)

Oil India makes deepest hydrocarbon discovery in upper Assam. (Mint)

LIC hikes stake in ICICI Bank to 9.38%.(FE)

Areva T&D India will invest Rs4.5bn more in calendar 2009 to increase equipment-making capacity at its three new plants as also existing ones.(DNA)

Suzlon mulls power plant in Bagalkot.(BS)

CCEA approved the proposal of NTT DoCoMo to acquire 27.3% stake in Tata Teleservices for about Rs129bn.(ET)

Reliance Industries to acquire clean storages in the US East Coast and Gulf Coast to sell huge volumes of fuel.(FE)

Banks refuse to finance term loans of Hindustan Oil Exploration Co, which it sought for development of its PY-I field in the Cambay basin.(BS)

Hindustan Zinc’s silver output to touch 100 tons this fiscal.(BL)

Power Grid plans to form a joint venture with a private sector firm outside India to secure international orders.(Mint)

Lanco Infratech has emerged as the lowest bidder for the much-delayed 1,600MW Dhopave coastal power plant.(DNA)

Essar Oil plans to divest stakes in its three oil blocks in Vietnam and Australia to raise funds for exploration and production.(BS)

Bharat Electronics signs an agreement with US aircraft manufacturer Boeing to jointly set up a facility to help modernize India's defence forces.(ET)

Centre has alleged Maytas Infrastructure to have diverted money raised from public to group companies.(FE)

Aurobindo Pharma got tentative approval from US FDA for Tenofovir Disoproxil Fumarate tablets.(FE)