Daily News Roundup - Apr 2 2009

Maruti is planning to phase out Maruti 800 and Omni models in 11 major cities. (BS)

Government has ordered special audit of books for Bharti Airtel, Vodafone, Idea Cellular and Tata Teleservices. (BS)

TCS, Wipro and Infosys along with multinational rivals are currently chasing an outsourcing contract worth US$100mn from Australia’s Woolworths. (ET)

Reliance Industries has started gas production from its KG-D6 field. (BS)

A minor fire broke out in a section of Reliance Petro’s Jamnagar refinery. (ET)

NTPC’s capacity crosses 30,000MW after commissioning of a 250MW unit. (BS)

West Bengal has claimed that Tata Motors’ Nano will be made in Singur. (BS)

ICICI Bank has repurchased bonds worth US$90mn. (BS)

Central Bureau of Investigation will probe the diversion of funds from Satyam Computers. (ET)

Cements makers such as ACC, Gujarat Ambuja Cements, Grasim and Ultratech Cement have hiked prices. (ET)

L&T has bagged Rs11bn worth of orders in Q4 FY09 from electrical construction sector. (BL)

Bajaj Hindusthan chairman is scaling up his group’s equity holding in the company by nearly 5% through subscription of preferential warrants. (ET)

HCC bags order worth Rs6.9bn from Bhutan. (BS)

Suzlon’s US subsidiary has bagged a repeat order from Duke Energy, US. (BS)

The Khorakiwala family, the promoters of Wockhardt has put its headquarters Wockhardt Towers up for sale. (ET)

HDIL is selling development rights for about 400,000sqft. (BS)

GMR may refinance its US$1.1bn loan taken to acquire InterGen in 2011. (BS)

GMR Infra plans to set up aircraft parts assembly plant in the country. (ET)

Hotel Leelaventure plans to invest US$500mn to set up five hotels across the country by 2012. (BS)

Over the next four-five years Bharti Shipyard and ABG Shipyard can claim subsidies to the tune of Rs17bn and Rs10bn respectively. (BL)

Shipping Corporation of India will place orders for 10 vessels in FY10. (FE)

Corporation Bank has reduced its PLR by 50bps to 12%. (BS)

RGPPL has proposed a per unit tariff of Rs4.44 for FY10. (FE)

For the month of February 2009, exports dipped by 21.7% yoy, while imports declined by 23.3% yoy. (BS)

Ministry of Corporate Affairs has accepted the recommendation to defer the implementation of AS-11. (BS)

First phase of bidding for blocks under NELP VIII will take place on April 9, 2009. (BS)

Wheat prices have crashed below the MSP following record output. (BL)

Government has imposed an anti-dumping duty on imports of polyester yarn from China, Vietnam and Thailand. (FE)

Finance ministry is in consultation with RBI to relax the provisioning norms for restructured loans. (ET)

The new regulations make it mandatory for insurance company to renew a health insurance policy irrespective of how much it has already paid out its claims. (ET)