Daily News Roundup - March 13 2009

Vedanta Resources to set up a large aluminum complex at Bihanbag, Asansol, at an investment of Rs200bn. (ET)

DLF REIT to raise Rs20bn from a clutch of PE investors. (ET)

TCS forms JV with Thai Re-Insurance Public Corporation to offer IT outsourcing services on an ASP model to insurance providers in Thailand. (BL)

Bharti Airtel signs a US$100mn investment agreement with the Board of Investment of Sri Lanka to begin operations there. (ET)

Ashok Leyland plans to invest Rs60bn to shore up CV business in the next few years. (ET)

NTPC Board approves an investment of Rs73.4bn in 1,920 MW Barh super thermal power project stage-II in Bihar. (FE)

Tata Steel to source chrome ore from Iran for its upcoming ferro chrome plant in South Africa. (BS)

IOC to invest Rs5bn in R&D during the 11th five-Year plan ending 2012. (BL)

M&M’s arm, Mahindra Intertrade opens an electrical steel plant in Vadodara, Gujarat. (BL)

Alok Industries has taken 50% stake in Ashford Infotech through a 100% subsidiary for joint development of realty projects. (BS)

Hikal to invest Rs2bn to set up four new manufacturing facilities in Bangalore and Mumbai and a R&D centre in Pune. (BS)

Gujarat Gas Company expects 10% drop in the availability of natural gas from Panna-Mukta-Tapti source from April. (BL)

Voltas eyes 20% share in AC market by adding 1,000 new channel partners to the distribution network. (DNA)

Gayatri Projects to enter the urban infrastructure and water treatment business segments. (DNA)

Everonn Systems plans to raise US$50mn to carry forward the expansion in the virtual classroom segment. (ET)

Tanla Solutions is in acquisition talks with 3-4 US-based firms with annual revenues in the range of US$30-70mn. (DNA)

Godfrey Phillips launches ‘Fundamint’ brand of mouth freshner. (DNA)

Goldstone Tech plans to roll-out IPTV services in 11 countries by the end of FY09. (BS)

Mumbai-based property developer, Oberoi Constructions, is planning Rs40bn IPO by the year end. (BS)

Piaggio eyes 5-fold increase in its Ape Truk (sub-one-tonne light CV) sales. (BS)

Shriram Properties to invest Rs5bn to develop mid-income housing projects across India over next 2-3 years. (ET)

Blackstone has picked up minority interest in Titagarh Wagons at Rs672/share. (ET)

The Government has notified new FDI norms for sectors including PSU oil refineries, industrial parks, credit information companies, titanium mining, commodity exchanges and civil aviation. (BL)

Royalty on iron ore mining may be changed to an ad Valorem rate of 10% from the current fixed rate of Rs13-27/ton. (ET)

Cement sales for the month of February were up 13% yoy. (BL)

Indian battery industry is set to double by 2011, says Exide Industries. (BL)

India's Travel & Tourism revenues are estimated at US$100bn in 2008 and may increase to US$276bn by 2018. (ET)

Global PC shipments to grow 12.8% this year, as per IDC. (BL)