Daily News Roundup - Apr 16 2009

ICAI has opposed the proposed sale of Satyam to Tech Mahindra before restating accounts. (ET)
CLB nod sought for 31% sale of Satyam to Tech Mahindra. (ET)
Infosys fresher intake at 16,000 will constitute 89% of total recruitments to be carried out in FY10. (BS)
SBI will need to raise RS600-700bn over the next five years. (ET)
Sterlite likely to match Gurpo Mexico’s bid to acquire Asarco. (FE)
L&T’s order book for FY09 is expected to be in excess of Rs700bn. (FE)
L&T signed a preliminary agreement with Russia’s ZAO Atomstroyexport for nuclear power reactors. (Mint)
Suzlon is learnt to have pledged its shares with C Sivasankaran to raise ~Rs4bn to buy its stake in REpower. (ET)
DLF has approached the government on surrendering its 5 of the 9 IT/ITES notified SEZs. (FE)
DLF may retrade its apartments at New Town Heights, Gurgaon, and Garden City, Chennai, at a discount. (BS)
NALCO to lose a weeks production as its mines were attacked by the Maoists. (ET)
Cairn India may get nod to export crude oil from the Rajasthan fields as buyers are willing to buy less than one third of the peak output. (ET)
GVK Industries commissioned its 220MW Jegurupadu phase-II power plant using gas supplied by GAIL through a swap deal with Reliance Industries. (BL)
RCom would invite tenders from existing bondholders to buying back FCCB’s at a discount. (FE)
RCom adds 3mn subscribers in March. (ET)
GSPC-Adani to pump in Rs5bn for LNG terminal land in Mundra. (BS)
Kingfisher has sought 10 more days to pay IOC its jet fuel dues. (Mint)
ArcelorMittal’s greenfield steel project in Orissa is facing trouble due to delayed payments to the state government. (ET)
Hero Group pulled out of JV with Daimler to manufacture commercial vehicles in India. (ET)
Honda Motorcycle and Scooter India plans to invest Rs3bn as part of its expansion plans in India over the next 3 years. (BS)
United Spirits FY09 volumes grew 20% to 90 million cases. (BL)
Polaris Software plans to strengthen its insurance portfolio business by introducing new solutions. (BS)
Ranbaxy Laboratories is likely to take Rs25bn MTM hit on forex contracts. (ET)
NMDC may stop iron ore exports if prices crash. (ET)
Ennore Coke looking to acquire 90% stake in Broughton coal mines.(BS)
Gitanjali Gems to buy back shares for an amount not exceeding Rs1.44bn. (FE)
Apollo Tyres sees revival in replacements during Q4 FY09. (BL)
Kotak Bank opposes merger of Subhiksha with Blue Green Investment and Consultant. (ET)
Colours TV channel emerged as the leader in viewership in hindi GEC segment that was held by Star Plus for the past 9 years. (Mint)

Air traffic slumps 14% in March on high fares. (ET)
Jet fuel prices hiked by 6.7%, third time in a month. (FE)
Steel secretary expects FY10 steel production and consumption to be higher than FY09 levels. (FE)
Coal India’s and Singareni Collieries Company’s coal production for February ’09 stood at 42.88MT, higher by 1.77MT. (FE)
Central excise collections in Orissa declined by 6.5% at the end of February ’09. (BS)
Vegetable oil imports increased 28% in March. (BL)
13 large power stations are currently reeling with less than 4 days of coal stock. (BL)
Builders Association of India seeks ban on cement exports. (ET)