Daily News Roundup - Apr 17 2009

Reliance Industries is set to start selling fuel in the country by next week from its Jamnagar unit following the withdrawal of refinery’s EOU status. (ET)

Unitech has raised Rs16.2bn at Rs38.5 per share through a QIP. (ET)

L&T anticipates 25-35% growth in order inflows in the current fiscal. (FE)

PNB is planning to expand in Australia and Saudi Arabia. (FE)

FIs object to Pfizer’s open offer to increase stake in its Indian arm from 41% to 75%. (ET)

SBI has agreed to lend Vodafone Essar Rs100bn to finance the company’s entry into 3G telecom services and expansion of broadband operations. (BS)

Tata Communications has joined an international consortium to build a US$600mn West African cable system. (ET)

Vedanta Resources is leading the race for Zambia’s Luanshya copper mines. (ET)

Indian Hotels plans to open 12 new properties in the next 2-3 years under its Gateway brand. (BS)

Essar Oil Ltd has shut its refinery in Gujarat for maintenance for 18 days. (BS)

JSW Steel is likely to finalize the long term contracts for supply of coking coal in FY10 by April end. (BS)

KKR has initiated talks with United Spirits to pick up a minority stake. (ET)

Jet Airways to recast its operations and trim its workforce to enhance efficiency. (ET)

Hindustan Zinc has raised zinc prices by 5% to Rs87,600 per ton. (BL)

Punj Lloyd has secured 3 contracts worth Rs3.1bn from the Bangalore metro rail corporation for construction 8 stations. (BL)

HPCL, BPCL and IOC have decided to form a JV with Mumbai Airport for distribution of ATF to aircrafts. (ET)

Nokia has entered into a JV with HCL Infocomm to set up exclusive retail outlets for selling handsets and servicing customers directly in India. (ET)

The long term fuel supply agreement between CIL and NTPC will be signed by the end of this month. (ET)

Areva T&D received an order from PGCIL for delivering two 500MVA power transformers by Q3 FY10. (BL)

Arvind Ltd has rescheduled its long term debt worth Rs9bn. (BS)

Bhushan Steel gets SEBI nod for Orissa Sponge open offer. (ET)

Natco Pharma has entered into an agreement with Dr Reddy’s for manufacture and supply of value added generic oncology drugs for global markets. (BL)

Promoter stake in GHCL dips to 18% from 38% in past 3 months. (BS)

Rallis India expects its Dahej plant to become operational in April-May 2010 and generate Rs4-5bn revenue over 3-4 years. (FE)

Inflation for the week ended April 4 dips to 0.18%. (ET)

India’s iron ore exports increased 17% to 12.6mn tons in February 2009. (ET)

Steel production and consumption grew at 1.2% yoy and 3.8% yoy respectively in Jan-March quarter. (ET)

Domestic fuel sales are likely to rise by 4-5% in the current fiscal, as per petroleum secretary. (ET)

Sugar prices may hit Rs30/kg on acute shortage of cane. (ET)

Petroleum production consumption grew by 6.9% in March 2009. (BS)