Reliance Communications in preliminary talks with China Mobile, for a strategic alliance and possible equity participation of 5 to 6%. (BS)
Government is considering the proposal to divest 10% stake in BHEL, says the Minister for Heavy Industries and Public Enterprises.(BL)
DLF is close to raising US$300mn through ECB to invest in its integrated township projects. (ET)
ONGC and Reliance Industries are rumored to be the bidders for UK-based Addax Petroleum, which could be sold for £5bn.(DNA)
RNRL files a caveat before the Supreme Court to preclude the chances of an ex parte order on the gas-sharing deal it had signed with Reliance Industries. (BS)
Infosys eyes mid-ticket BPOs in US, Europe.(FE)
SAIL, Tata, JSW, Essar may face anti-dumping duty in Thailand. (BS)
Tata Steel has raised product prices by Rs500 to Rs750 a tonne for the second time in the last two months.(BL)
Sun Pharma gets USFDA approval for the generic version of Quinapril Hydrochloride tablets used in the treatment of hypertension and congested heart failure. (BS)
Pfizer charges Sun Pharma with another patent violation for generic version of Lyrica. (ET)
SBI in talks with the governments of Qatar and sovereign entities in Oman to set up a private equity fund. (ET)
Tech Mahindra renames Satyam Computers to Mahindra Satyam. (BS)
GMR Infrastructure consortium emerges as the lowest bidder for Chennai Outer Ring Road project worth Rs11bn. (ET)
Aditya Birla Nuvo and partner Sun Life Financial of Canada to invest Rs5bn in Birla Sun Life Insurance in the current fiscal (FY10) to finance JV’s growth plans. (ET)
Shipping Corporation of India shelves its plan to purchase four very large crude carriers worth US$320mn.(BL)
GSPC submits plan to develop KG-8 gas; development plan likely to cost US$1.7bn.(BL)
Air India asks its top executives to forego Jule. (FE)
Mahindra Holidays public issue price band fixed at Rs 275-325.(BL)
Mahindra Holidays & Resorts to add new properties and expand some of its existing resorts with the proceeds raised through its IPO. (BS)
IRB Infrastructure emerges as the lowest bidder for its first BOT project worth Rs12bn. (ET)
State Bank of Indore to be merged with SBI.(BL)
Paramount Airways has signed a MoU with Airbus Industrie to purchase 10 Airbus A-321 aircraft, with the option of buying another 10, at an estimated price of US$1.5bn.(BL)
Zandu’s FMCG business to be merged into Emami.(BL)
Future Group to venture into the real estate biz through a 50:50 JV with Sumit Dabriwal, Kolkata for building affordable, branded, ready-to-move-in homes. (BS)
UCO Bank proposes a 50bps reduction in its benchmark prime lending rate with effect from June 27. (BS)
GSPC is all set to revive its plans to raise funds from the primary market, to take a call on the IPO after the Union Budget. (ET)
Essar Group subsidiary Aegis is looking to acquire a BPO company in Africa to expand its presence in the region. (ET)
ICRA says is open to acquisitions in the KPO and IT space to boost its non-rating revenues in the coming years.(ET)
ESS Dee Aluminium plans to pump in nearly Rs2bn to add fresh capacity at India Foils Hoera unit. (ET)
Four Soft won a contract from Polar Speed Distribution Limited, for flu vaccine distribution. (BS)
Century Plyboards to replace Aztecsoft Ltd in NSE CNX 500 index with effect from June 23. (BS)
IOC’s refinery project at Paradip in Orissa to be operational from November 2012. (BS)
International Finance Corporation to give US$50mn loan to Apollo Hospitals for providing high quality services to smaller cities across the country. (BS)
Indian Continent Investment, promoter of Bharti Airtel hikes its stake to 6.53% by acquiring 4.90mn shares of the firm worth Rs4.02bn in two separate off market trades. (ET)
Dealers of Chrysler agree to sell M&M’s vehicles in the US. (BS)
Honda Siel Cars clarifies that the Rajasthan plant has not been shut down and the company’s plans for the next small car are on track. (ET)
Aditya Birla Retail chain plans to further roll out 80 stores this year, but may wind up 10-20 existing outlets as part of a clean-up.(DNA)
Tatas may scale down JLR investment plans.(FE)
Titagarh Wagons plans to buy stake in the sick wagon unit of the S K Birla Group, Cimmco-Birla. (BS)
The government asks Air India to cut the number of staff per aircraft as pre-conditions for bailing out the national carrier. (ET)
BK Modi and family to sell out their stake in Modi Rubber at a nominal price in the public-listed company to VK Modi. (ET)
Elusive monsoon to arrive in Mumbai and the western coast over June 21-23: says Met. (ET)
Foreign exchange reserves increased by US$2.4bn to US$263.6bn for the week ended June 12.(BL)
3G spectrum base price doubled to Rs40bn.(TOI)
DoT revives plan for waiving licence fee on rural fixed lines.(BL)
TRAI says there were 11.4mn new users in May slightly lower than 11.7mn new subscribers in April.(BL)
Open bidding in coal likely by year-end; Centre plans to set up regulator for the sector.(TOI)
Oil and gas producers could be forced to pay royalties to the government on the basis of sale prices in the future rather than the present system of ‘wellhead value’, (ET)
Shipping industry asks the government to set up special fund to help the industry finance projects. (BS)
Government extends stock limit on sugar till Jan 2010.(DNA)
Monsoon is likely to advance into Mumbai and adjoining parts of Maharashtra in two or three days. (BS)
The government plans to relaunch the eighth phase of bidding for oil and gas blocks under the NELP-VIII in the second week of August. (BS)
The government is considering a proposal to redefine exports of services in the service tax rules in the forthcoming Budget. (ET)
The BOA approved 23 SEZ proposals. (BS)
Tobacco shipment shot up by about 70% to exceed Rs3bn in April 2009. (ET)
Banks’ credit to realty sector expands in 2008-09.(BL)
RBI may look at reversing the easy money policy that it had adopted from September last following the global credit crisis.(BL)
Apparel exports fell by close to 10% in April this fiscal. (BS)