Daily News Roundup - May 6 2009

Wipro has been awarded a 9-year IT outsourcing contract by Unitech Wireless worth Rs25-28bn (ET)

L&T and EADS set-up JV to make products for Indian defense segment (ET)

Pfizer sues Sun Pharma, Wockhardt and Lupin in US against generic versions of its best-selling nerve drug (BS)

SEBI issues a show-cause notice to RIL and its associated entities following a probe into charges of insider trading in shares of Reliance Petro (BS)

RIL seeks partner for its Rs400bn Haryana SEZ (FE)

Reliance Infrastructure to sign a 500MW PPA with Tata Power (ET)

SAIL records highest-ever average monthly sales of over 50,000 tons of steel products for construction in 2008-09 (ET)

BHEL to invest Rs120bn over the next four years to pick up equity in power projects and to ramp up capacity (ET)

Tata Steel and RINL have increased prices of long products sold in the spot market by Rs1,000/ton (ET)

Cipla’s HIV drug gets clearance from the US FDA (ET)

Work at the M&M’s Nashik plant has been affected following a tool down strike by the workers (BL)

Indian Hotels picks up 2.25mn shares of Orient Express for US$12.9mn (ET)

Kingfisher Airlines is understood to be finalizing a working capital loan of over Rs20bn from SBI (ET)

Jubilant Organosys has signed a R&D deal with AstraZeneca (BL)

Sobha Developers to raise Rs7.5bn and increase investment limit by FIIs to 100% (BS)

Strides Arcolabs has started exporting its flu drug to various countries (BL)

Maytas Infra to raise Rs8-10bn through asset sales and loans and gurantees from banks to complete various projects (BS)


Government considering various measures including imposing anti dumping duty on auto parts (ET)

India’s coffee exports are expected to jump by 21% to 2,30,000 tones in FY10 (ET)

Country’s engineering exports declined 13.7% yoy in 2008-09 (FE)