Daily News Roundup - Apr 20 2009

Cipla does not support Adcock proposal to buy Cipla Medpro.(BL)

Power Grid may not fully utilize capital expenditure for 11th Plan.(BL)

Jet Airways, Kingfisher and SpiceJet to hike fuel surcharge by as much as Rs300 for long-haul flights and Rs200 on short routes. (BS)

Unitech partially repays Rs5bn loan it owes to mutual funds. (ET)

Tech Mahindra raised Rs6bn from non-convertible debentures for the acquisition of Satyam Computers. (BS)

Maruti Suzuki to invest Rs12bn to replace engines of existing models with a new light-weight fuel-efficient one. (ET)

Suzlon Energy plans to start business operations in the Canadian market in 2010. (ET)

GVK Power & Infra looks to dilute stake in power and road ventures. (BS)

Wipro announces organizational reshuffle, w week before its annual earnings announcement.(TOI)

Cipla plans to terminate its 20-year drug-supply agreement with Cipla Medpro if the South African company Adcock Ingram succeeds in acquiring the latter. (BS)

SBI extends its special home and car loans scheme last week at eight per cent and 10 per cent respectively, for the first one year, till September 30, 2009. (BS)

Unitech plans to raise up to Rs16.2bn by issue of equity shares through private placements to partly pay back the borrowings. (BS)

The government claims Maytas Infra did not have a land bank. (BS)

Tata Motors nets Rs150mn on 500,000 Nano forms. (BS)

DLF has sought denotification of four IT SEZs planned in Sonepat, Gandhinagar, Bhubaneswar and Kolkata. (BS)

ONGC Mittal Energy is talking to other players to come in as a partner for developing its oil and gas exploration project in Trinidad and Tobago.(BL)

Reliance Industries to open closed fuel stations soon. (BS)

Unitech assures investors it won’t buy more land in the near future to expand its business. (BS)

NTPC may place bid to run and maintain a project in Bangladesh.(Mint)

Swedish telecom gear manufacturer Ericsson is set to bag a multi-million dollar deal from Swan Telecom for rolling out its cellular network.(BL)

Government looks at special audit to fix Satyam Computers’ tax liability.(Mint)

BEML sets up assembly unit in Brazil. (BS)

Videocon to launch DTH on April 27, wireless telephone service in Aug’ 09.(Mint)

Bharti Airtel’s direct-to-home arm to launch its mobile DTH units for cars. (BS)

Power Grid Corp plans up to Rs200bn spending in mega-projects by 2012.(Mint)

Kotak Bank opposes merger of Subhiksha, Blue Green. (ET)

Nalco mines may resume operations on April 19. (ET)

Wockhardt expects stake sale in hospital business by May-end. (ET)

Telenor may invest up to US$2.24bn in Unitech Wireless. (ET)

Tatas start work on IT SEZ in Chennai.(BL)

ARCIL has decided to put fertilizer company Spic on the block.(TOI)

Lanco Infratech to invest Rs150bn in power.(BL)

MTNL has postponed the launch of its 3G mobile services in Mumbai to May. (BL)

MTNL’s FY10 capital expenditure likely at Rs17bn.(Mint)

Independent News & Media, may consider selling back its stake in Jagran Prakashan to repay its debts. (BS)

Bhushan Steel approached the West Bengal Industrial Development Corporation for an additional 1,000 acres in West Bengal, in the wake of negotiations with Sumitomo Metal Industries (SMI) for participation in its steel project. (BS)

Tech Mahindra is likely to settle the dispute with the UK's Upaid Inc. out of court. (DNA)

Two-wheeler manufacturer Honda Motorcycle and Scooter India is targeting sales of 1.25mn units during the current fiscal translating to a growth of 18% over the 2008-09.(BL)

Forex reserves fell by US$2.2bn in the week ended April 10.(BL)

The Ministry of Power to come out with detailed guidelines within a month to privatize the power transmission sector for attracting major investments. (BS)

RBI may put cap on reverse repo window.(BL)

DoT has sought the finance ministry’s approval for banning the promoters of new telecom operators from pledging their shares to raise capital during the three-year lock-in period. (ET)

Centre announces extra 0.6mn tonnes as free sale quota for sugar mills.(BL)

WHO lifts vaccine embargo on India.(Mint)

Government mulls banning sugar exports.(BL)

Centre defers NELP VIII auctions as it fails to iron out ambiguity of its own making on tax break for gas finds.(TOI)

Power plants to get more KG gas than LPG plants. (BS)