Daily News Roundup - May 27 2009

Bharti gets US$4bn bridge loan for MTN deal (ET)

SAIL, NMDC and RINL mull Rs130bn expansion this fiscal (FE)

Government may kickstart its big ticket disinvestment plan by diluting stakes in power sector firms such as NTPC, NHPC and PowerGrid to 51% over the next few years (ET)

Mr N Chandrasekaran, COO & ED, will take over from Mr S Ramadorai as CEO of TCS (ET)

Madras High Court dismisses Bajaj Auto’s appeal seeking a stay on TVS Motors to manufacture and market ‘Flame’ (ET)

L&T plans to raise Rs10bn through NCDs (BL)

Nalco lowers metal prices by 5% (BL)

S&P retains stable outlook rating on Bharti (ET)

Wipro Infotech to invest Rs2bn to set-up its own data centres in India (BS)

RCOM to demerge optic fibre division (FE)

Unitech sells hotel in Gurgaon for Rs2bn (BS)

DLF, Mundra Port, SEZ plans to be reviewed by the board of approval for SEZs (ET)

DLF, Unitech, HDIL and Puravankara line-up 60mn sqft of new launches (BS)

Decks have been cleared for the merger of the Indian operations of APB with United Breweries (ET)

Reliance Power may earn Rs40bn from carbon credit sales (ET)

PTC to raise ~Rs5bn via QIP (BS)

Bharti Group JV enters food & beverages market (BS)

Sobha Developers ties-up with a private investor for joint development of projects (BL)

Public sector banks plan to cut lending rates by 100-150 bps (ET)

Finance Ministry and RBI to meet on May 30th for revising the schedule and amount of government borrowings (ET)

Government to clear 21 infrastructure projects worth Rs200bn (ET)

Government likely to double the price of natural gas sold through APM to US$4.2/mmbtu (BS)

DoT has proposed to allocate 80% of wireless spectrum on the international border to the defense forces (BS)

Peak energy deficit soared to 12.2% in April against 11.6% in March (FE)

Crude oil imports dip 12.1% in April (FE)

Government is considering a proposal to do away with FBT in the upcoming Budget (ET)