Daily News Roundup - March 27 2009

DLF cuts rates of Gurgaon project by 20%. (ET)

SAIL, Tata Steel, JSW and Essar have all resumed normal production. (ET)

Bharti Airtel can bring in more FDI, but has no plans to raise funds at present. (ET)

ONGC has deferred investments in Imperial Energy to raise crude oil production. (ET)

January strike to impact ONGC’s output in the fourth quarter (DNA)

SAIL will not go slow on its plans to invest Rs500bn in increasing capacity by 10mn tones. (BL)

HCL Tech gets three-year contract from third-party logistics solutions player, MJ Logistics, for implementing integrated software solutions (BS)

PSU oil companies to fuel growth by spending Rs570bn next year on expanding supplies and building new transportation networks for oil and gas. (ET)

Godrej Group is looking at acquiring Sara Lee International’s stake in Godrej Sara Lee. (ET)

NTT DoCoMo completes has completed the purchase of 26% stake in Tata Teleservices by paying US$2.7bn. (ET)

Tata Steel looking to raise Corus output on signs of demand revival in Europe (DNA)

CESC likely to pump Rs1.75bn into Spencer’s Retail (DNA)

Suzlon’s pledged stake rises to 27% (BS)

HCC has recorded 17% increase in its order book to Rs170bn between March 2008 and March 2009 (DNA)

A consortium led by Tata Tea plans to acquire a controlling 51% stake in Grand, a Russian packaging and Distribution company. (ET)

Essar Oil to soon diversify into retailing of LPG for automotives (DNA)

Motherson Sumi Systems promoters have acquired the entire stake of its Japanese JV partner Sojitz Corporation for Rs2.06bn. (ET)

DKNY signs an agreement with DLF Brands, to set up exclusive DKNY stores in India. (ET)

Maruti has no plans to enter Nano segment. (BL)

Maruti admits that the launch of Tata Nano could marginally affect sales of its flagship model M800 (DNA)

Sasken wins contract from Inmarsat of UK to make satellite phones that works on GSM network. (BL)

SCI mulls JV plan with SAIL. (BL)

Bajaj Auto is looking to increase sale of its vehicles through its own financing arm, Bajaj Finserve Ltd (DNA)

Subros to raise its AC output by 33% (BS)

Lanco Infra hopes to commission 2,000mw capacity in FY10 (DNA)

HT Media receives Delhi High Court approval for de-merging its radio business (BS)


Inflation drops further to 0.27% for the week ended March 14. (BL)

India’s economy to expand by 6.5 to 7% in the current fiscal says PM Manmohan Singh. (ET)

Government predicts flat exports growth in FY10 (BS)

India has turned into a net exporter of Gold in the past few months (BS)

Government clears 26 FDI proposals worth Rs10.4bn (BS)