Sun Pharma to revise the revenue guidance for 2009-10 as the company was not sure when its US subsidiary, Caraco Pharmaceuticals, would be able to meet the regulatory standards of the US FDA. (BS)
India Cements plans to invest around Rs15bn over the next two years for setting up a greenfield project in Rajasthan, power plants in Tamil Nadu and Andhra Pradesh and acquiring a coal mine abroad. (BS)
B K Birla group is looking at raising its stake to more than 40% within the next three years in all the group companies where the promoters’ holding is around 26-27%. (BS)
Tata Motors Jaguar to unveil a super premium XJ sedan on July 09. (BS)
Wockhardt enters into an agreement with Vetoquinol, France to divest the animal health division. (BS)
Allahabad Bank reduces benchmark lending rates by 25bps from 12.25% to 12 %. (ET)
United Spirits may look at QIP, stake sale in W&M.(DNA)
State Bank of India reduces the interest rate on car loans to 8% for the first year.(BL)
Bharti Airtel’s proposed marriage with MTN has drawn the attention of the finance ministry, which is urgently seeking details of the proposed transaction.(BL)
Vjay Mallya, the UB group chairman, has reached out to Abu Dhabi's Al-Nahyan royal family for a possible investment in the debt-laden Kingfisher Airlines. (ET)
BIG TV, a pay-TV company owned by Reliance Communications, is in advanced talks with PE firms Carlyle Group and Providence Equity to sell a minority stake and raise capital. (ET)
Max India plans to raise equity funds of about Rs5bn in the next six months to part finance its planned investments in its insurance subsidiary.(BL)
GAIL plans two pipeline projects.(BL)
NTPC eyes takeover of ailing SEB stations.(BL)
Banks to provide Rs5bn to revive Wockhardt Pharma, while the promoters have agreed to bring in Rs7bn over three years. (ET)
Aditya Birla Group chairman Kumar Mangalam Birla to take over the reins at Kesoram Industries. (ET)
Punj Lloyd to raise Rs15bn.(BL)
Kesoram Industries plans further capacity expansion.(BL)
GRUPO Mexico revises its offer to outbid Sterlite Industries. Grupo Mexico increased the cash component to US$1.46bn from US$1.3bn. (ET)
JSL plans Rs25bn debt recast.(DNA)
MCX SX applies for SEBI nod to launch interest rate futures.(BL)
Unitech closes the second round of QIP worth US$575mn. (ET)
GE Shipping has taken up a US$1.2bn capex plan over the next three years. (ET)
Reliance Industries agrees to sell natural gas to NTPC’s power plants. (ET)
Adani Power, part of the diversified Adani Group, to come with an IPO in the third week of July to raise Rs22bn. (ET)
Mahindra Holidays IPO was subscribed 9.74 times. (ET)
Renuka Sugar raised US$100mn via the QIP route. (ET)
Rashtriya Ispat Nigam to have a controlling stake in the Bird Group of companies, including OMDC. (BS)
Suzlon looks to delist REpower.(DNA)
RPG Enterprises flagship CESC, Reliance Infrastructure and Mumbai-based Glodyne Technoserve are in the race to be franchise power distributor in Patna.(BL)
DLF and Unitech to try and re-start some of their projects in Mumbai. (ET)
JSL plans to raise Rs5bn via right issue. (ET)
Foreign exchange reserves increased by US$8mn to US$264bn for the week ended June 19.(BL)
Life insurers’ fresh premium collections decline in May.(BL)
Housing sector sales rise as much as 25-30% since April. (BS)
Gas production in May up 18%; crude oil dips.(BL)
Centre to soon hike petrol and diesel prices as prices for crude oil have gone up internationally, said petroleum minister Murli Deora. (ET)
The government proposes Rs430mn as entry fee for allowing internet service providers the right to offer domestic phone services using computers. (ET)
DoT may peg entry fee for telecom licence at Rs450mn.(BL)
IT companies eye’s government Rs400bn tech spend in next 5 yrs. (ET)
Cement prices are expected to dip by Rs3-5 on lower demand and excess supply. (ET)
The power ministry plans to award three more ultra-mega power projects of 4,000mw in the current financial year. (ET)
GST may miss its April 2010 deadline. (ET)