Daily News Roundup - Apr 1 2009

Wockhardt announced major organizational changes and admitted that it was facing problems in servicing its debts. (ET)

Talks between Sun Pharma and Taro fail over price for the latter’s promoter holding. (ET)

Mindtree is eyeing strategic buyouts in package application in mechanical engineering service areas. (BL)

Sahara India takes Jet Airways to high court claiming the airline defaulted in its payment commitments. (BL)

TRAI dismiss COAI petition to allow RCOM to offer services using both GSM and CDMA technologies. (BL)

Kalpataru Power bags three projects for transmission lines worth Rs4bn. (BL)

Aurobindo Pharma gets US FDA approval for anti-AIDS combination drug. (BL)

Ranbaxy is all set to launch a drug for high blood pressure discovered by Daiichi. (BL)

Micro Technologies is close to sign a MoU with Japan Homeland Security Corporation. (BL)

GAIL-HPCL out bids Reliance for the city gas projects. (BL)

Suzlon Energy’s Australian subsidiary enters into contract with AGL Energy Ltd for supplying 132.3MW wind turbine capacity. (BL)

Canara Bank cuts BPLR by 50bps to 12%. (FE)

HPCL’s Vizag refinery and Mangalore refinery of ONGC have been named as buyers of the initial crude oil from Cairn India’s Rajasthan block. (ET)

SAIL likely to produce 12mt steel in FY10. (ET)

PNB reduces interest rate on retail term deposit below three years by 50-100 bps. (BS)

Zydus Cadila receives nod from US FDA for its anti-epileptic drug, Topiramate. (BS)

Godrej looking at acquiring companies in the household and haircare segments in developing economies. (BS)

Suzlon has entered into an agreement with AGL Energy for a 132mw project. (BS)

Vijaya Bank cuts BPLR by 50bps to 12.25%. (FE)

India recorded capital account deficit Q3 FY09, first time in over a decade. (BS)

Fiscal deficit reaches 94%of the annual revised target of 6% for FY09 in the first 11 months. (ET)

ADB predicts 5% growth for Indian economy in FY10 sharply below its earlier estimate of 7%. (BS)

Telecom tribunal TDSAT upheld Government’s decision to allow CDMA players to launch GSM services. (ET)

Cement price to rise Rs3-8 per 50kg bag in major consumption markets such as Maharashtra and Gujarat. (BS)

Government mulls anti-dumping duty on steel to protect domestic steel companies. (BS)

TRAI rejects DOT views on imposing entry fee on internet service providers. (BL)

The ministry for commerce and industry has recommended special duty on imported CR stainless steel. (ET)

Oil companies hike ATF prices by 10%. (ET)

Consumer price inflation for industrial workers remained at 9.6% in February 2009 against 10.45% in the previous month. (ET)

Indian companies borrowed US$452mn in February 2009. (ET)

RBI has decided to extend the special refinance facility available to NBFCs by three months till June 2009. (BS)

Economic slowdown to hurt the retail sector for another 12-18 months, as per KPMG. (ET)

RBI wants to regulate NBFC holding companies. (BS)