Daily News Roundup - Apr 9 2009

RIL and ONGC Videsh may buy 20% stake each in at least one of the three large fields in Venezuela’s Carabobo region (ET)

Tech Mahindra to review Satyam bid (ET)

NTPC to triple its annual power capacity addition to 3,300MW in FY10 (BS)

DLF has entered into an agreement with an HNI to sell its 60-room hotel at Saket, New Delhi, for Rs550mn (ET)

ACC to invest Rs16bn in 2009 and Rs13bn in 2010 (ET)

Wockhardt to hive-off its Bio-tech division into a separate company and is planning to rope in a global Pharma major as a strategic investor (BS)

M&M is working on a new product to hold its market share in UVs (ET)

IOC re-deploying staff from BRPL as a part of merger (BL)

Idea rolls out GSM services in Orissa (BL)

Moody cuts Tata Chemicals corporate family rating to Ba1 from Baa3 (ET)

BHEL earmarks Rs9bn for R&D by 2011-12 (FE)

NALCO sells 30,000 tones of alumina at US$227.6/ton (FE)

DLF sold more than 85% of its west-Delhi housing projects in less than 24 hours (BS)

FIPB has approved a JV between John Deere and Ashok Leyland for construction equipments (ET)

GAIL inks pact with fertilizer companies to pipe KG basin gas (ET)

Aurobindo Pharma has received its first approval from Government of Switzerland for finasteride tablets (BL)

ABB opens automation facility near Bangalore (BL)

Banks are likely to buy Wockhardt’s FCCBs from foreign investors (ET)

Omaxe gets moratorium on 40% of its debt (BS)

Shriram properties in talks to buy Sobha Developer’s assets worth Rs2-3bn (ET)

Strides Arcolab gets tentative US FDA approval for its Aids drug (BL)

UCO Bank is talks for general insurance venture (BL)

Four Soft has entered into a contract with UK-based Calderhead Refrigerant Transport to implement the warehouse management system (FE)


Bank credit grew by 17.3% yoy in FY09 (BS)

Indian imports to fall faster than exports in March 2009, as per early estimates of the Commerce Department (ET)

Cement prices likely to stabilize, says Deputy Chairman of ACC (ET)

Banks see 50bps PLR cut soon (FE)