Daily News Roundup - Feb 6 2009

Satyam Computer Board has appointed AS Murty as the CEO. (ET)

Tata Motors has said that three quarters of its purchases have been paid immediately through an arrangement with banks. (ET)

Reliance and ONGC have agreed to share drilling rigs. (BL)

Infosys said that some of the clients of Satyam Computers have approached them. (ET)

TCS is not bidding for Satyam Computers. (ET)

iGate pulls out of race to acquire Satyam Computers. (ET)

Maytas Infra has issued a legal notice to Vedanta Aluminum alleging fraudulent and illegal encashment of two bank guarantees valued at Rs640mn. (ET)

Tata Motors may roll out Nano on March 3. (BS)

Government has sought dismissal of Tata Power petition seeking re-tendering of Sasan UMPP. (BS)

Vijay Mallaya is ready to sell up to 38% stake in United Spirits from Treasury stock. (BS)

Sterlite Industries is close to signing a contract to buy Asarco LLC. (BS)

Maruti plans to replace Wagon R, Omni and Versa. (BS)

PNB may cut rates further if inflation continues to fall. (BS)

Dr Reddy’s Labs has launched 5 new generics drugs in US. (BL)

Era Infra has bagged Rs2.2bn contract from NTPC. (BL)

JSW Steel’s production of crude steel increased by 41% to 321,000 tons in January. (BL)

Parsvnath Developers is looking to restructure its debt. (BL)

MTNL launches 3G services in Delhi. (BL)

Promoters have raised their holdings to about 60% in Adlabs. (FE)

Jain Irrigation aims at 30% growth in FY10. (FE)

Nagarjuna Constructions has raised Rs1bn through sale of NCDs to LIC. (FE)

Vishal Retail to close down one-third of its outlets. (BL)






Inflation for the week ended January 24 fell to 5.07% from 5.64% in previous week. (ET)

Interim budget may offer tax sops. (ET)

RBI has extended forex swap facility for banks till FY10 and has raised the ceiling rate on foreign currency export credit to Libor plus 350bps. (ET)
Government may impose stock holding limit on sugar to control prices. (ET)

Government has approved road projects worth Rs32.3bn. (BS)

RBI wants Basel II advanced approaches to begin by 2011. (FE)