Daily News Roundup - Feb 9 2009

UTI MF arm best bidder for non-government pension funds.(TOI)

Tata Steel says its hot metal, crude steel and saleable steel production in January 2009 was higher YoY.(BL)

Reliance Industries hires three deep sea drilling rigs for US$2.9bn.(FE)

Price Waterhouse (Bangalore) and over 350 entities linked to Satyam Computers have now come under the scrutiny of Serious Fraud Investigations Office.(BL)

GAIL to mop up Rs8bn via KG-D6 gas transportation.(BS)

Reliance Industries to begin talks with buyers soon for KG gas.(BL)

Coal India shortlists nine firms to mine coal from seven new underground mines across the country.(DNA)

Dr Reddy's Laboratories three promoters pledged 6.19% stake of the company.(BS)

Essar to set up 6-MTPA steel unit for Rs178bn.(BS)

ONGC rules out divesting MRPL stake to HPCL.(BL)

L&T to recruit 10,000 in 3 yrs; to invest Rs45bn in Hazira.(BS)

Adani Power has decided to scale down its production plans from 9,900MW last year to 6,600MW, at least for now.(BL)

Jindal Stainless has deferred its 1.6mn tonne per annum plant in Orissa by a year due to losses in the last two quarters.(DNA)

Piramal Healthcare says talk of sale to GlaxoSmithKline Plc are unfounded'.(BL)

ONGC discovers two new oil wells in Patan district in Gujarat.(ET)

KEC International plans to invest Rs1bn in a transmission tower manufacturing facility in West Asia.(BL)

HPCL to triple crude oil import from Iran while reducing supplies from Iraq next fiscal.(ET)

Satyam Computers’ board to fix bidder criteria in 7-10 days.(TOI)

Kingfisher Airlines is targeting an equity infusion of around Rs20bn through strategic and financial investors and may even monetize aircraft order book over time.(DNA)

ONGC has achieved an all-time high oil and gas production up to December in the current fiscal.(FE)

Essar Exploration expects to complete its 15 well development drilling programme at Ranigunj-East CBM block in West Bengal by March this year.(BL)

The Government challenges Tata Power’s right to question the tendering process of Sasan ultra mega power project.(ET)

United Spirits to add 10 new bottling units in next 12 months.(ET)

Dr Reddy’s, Ranbaxy seek empanelment in a government programme to sell unbranded low-cost drug.(BS)

Marcegaglia, Italy to explore further synergies with Tata Steel after signing MoU for picking up a majority stake in Corus’ Teesside Cast Products.(BS)

Jindal Stainless to invest Rs1bn in logistics arm in next two years.(DNA)


Petroleum and Natural Gas Regulatory Board working on open-access formula to develop city gas distribution network.(FE)

Group of ministers is learnt to have decided on giving 10MHz of spectrum to mobile telecom companies.(DNA)

Finance Ministry rejects DIPP proposal to let foreign companies buy shares of Indian companies from exchange as freely as FIIs.(ET)

Cement companies set to hike price by Rs5 per 50kg bag across the country.(ET)

Government set to announce a stimulus package for the media sector. (BS)

Government may extend interest rate subvention or subsidy available to exporters.(ET)

November 2008 FDI inflow down to US$1bn from close to monthly figure of US$3bn till September 2008.(TOI)

Power generation rose 1.38% YoY in January.(FE)

Maharashtra government’s energy ministry to make it mandatory for independent power producers to sell 50% power within the state.(BS)

Allocation of US$8bn of debt to FIIs will be done by open bidding and not on a first-come first-served basis as it is currently, says SEBI.(BL)

Stricter H-1B hiring norms will not impact India, says Nasscom.(BL)

Mobile companies to pay higher penalty on unverified users.(BL)

New telecom companies ask TRAI to scrap mobile termination charge.(ET)