Daily News Roundup - May 19 2009

Private equity giant Kohlberg Kravis Roberts and Diageo likely to acquire 10% & 14.99%, respectively in United Sprits. (ET)

Amtek Auto has entered into Rs1bn JV (50:50) with Sumitomo Metals, which is part of Sumitomo Corporation of Japan. (ET)

Apollo Tyres has acquired Dutch tyre maker Vredestein Banden for an undisclosed sum. (ET)

Madras HC allows TVS to use Bajaj's patented technology. (BS)

The Tiruchirappalli unit of BHEL has asked its subcontractors to increase their capacity to 50% from the current 32% in order to achieve a turnover of Rs100bn for FY10. (BS)

Indiabulls Real Estate plans to raise US$600mn through qualified institutional placement of equity shares. (ET)

ONGC to float new tender for cancelled rig contract. (BS)

M&M workers call off a 15-day-long ‘tool down’ strike at Satpur plant in Nashik. (ET)

Maytas Infra wants IL&FS to increase its stake in the Hyderabad Metro Rail Project. (FE)

Coal India board has cleared the draft agreement for the proposed fuel supply agreement with NTPC and other power utilities. (FE)

KS Oils plans to raise Rs4.5bn from a PE companies and promoters. (ET)

Aditya Birla Nuvo will allot 18.5mn convertible warrants to its promoters for Rs10bn. (ET)

MRF has declared lockout at its Arakonam plant in Tamil Nadu, effective from May 17, 2009. (FE)

Tata Motors will give performance-linked wage hikes to its employees in FY10. (BL)

The Switzerland based Oetiker Group, a supplier of clamps for Tata Nano has set up a unit in Patalganga near Mumbai. (FE)

The rupee gained 2.98% against the dollar, the biggest single-day rise in 23 years. (BS)

The Finance ministry seeks amendment to Fiscal Responsibility & Budget Management (FRBM) Act. (FE)

20 public sector banks have failed to achieve the annual farm sector lending target till November 2009. (BS)

Cement companies have added ~8mn tons capacity in April, taking the total installed level to 219mn tons. (BL)

The new Government is likely to ease curbs on fuel pricing and restore a tax brake for gas production. (FE)

RBI Governor said banks must pass the benefit of lower costs from technology-based products and services to customers. (BS)

Consumption of petroleum products grew by 4.6% in April, the second highest since September 2008. (BS)

Saudi Arabia has lifted the ban on Indian seafood imports that had been in place for several years. (BL)