Tata Motors-owned Land Rover to launch its cheapest SUV, the Freelander, in October for under Rs3.5mn.(BS)
Sterlite Industries not to increase its offer price further for Asarco. (BS)
Suzlon Energy will set up a blade manufacturing facility in Andalusia, Spain; scheduled to be commissioned by December 2010.(BL)
Infosys Technologies reported a consolidated net profit of Rs15.27bn a growth of 17.3% YoY. (ET)
SAIL to consider setting up a steel processing unit in Himachal Pradesh. (BS)
BHEL plans five JVs in the nuclear sector and locomotive manufacturing; to invest Rs10bn in a castings and forgings JV.(BS)
Sun Pharma and its subsidiary, Caraco Pharmaceutical reaches a settlement agreement with Forest Laboratories and licensing partner H Lundbeck AS, over a pending patent infringement dispute.(BS)
Essar Oil to cut petrol and diesel prices by Rs0.50-2.50 a litre with effect from July 16.(BS)
Nacil raises US$1bn from JP Morgan.(Mint)
LIC plans to invest at least Rs500bn in equities this fiscal. (ET)
Tech Mahindra subsidiary, Venturbay Consultants, hikes stake in the Mahindra Satyam to close to 43%.(ET)
Punj Lloyd wholly owned subsidiary Sembawang Engineers and Constructors receives three commercial and residential projects worth US$1.2bn in Libya.(ET)
Alstom Projects India has been awarded the Rs2.7bn project of Lanco Infratech for installation of a new power plant on Teesta River in Sikkim.(BL)
S Kumars Nationwide plans to raise Rs5bn through the issue of securities, including shares and bonds, on QIP basis for funding its expansion plans. (ET)
LIC MF sells 35% stake to Nomura.(TOI)
Glenmark Pharma US-based subsidiary receives approval from the USFDA for fosinopril sodium and hydrochlorothiazide tablet. (ET)
The government is set to exit Bharti arm as ministries clear 30% stake sale in Bharti Hexacom. (ET)
Reliance Life Insurance may not be able to come out with an IPO for now as IRDA says Indian promoter having more than 26% equity can reduce stake only after 10 years.(FE )
Sterlite Energy mulls IPO to raise Rs 30bn.(DNA)
Yes Bank to foray in the retail lending segment, by the beginning of the next financial year. (ET)
Ranbaxy plans a new growth hormone product to target the emerging global market. (ET)
US based Novavax to conduct trials for a swine flu vaccine from September in joint collaboration with Cadila Pharmaceuticals. (ET)
Orbit Corp halves QIP target, plans to raise Rs2bn by July-end. (ET)
Apollo Tyres expects its greenfield facility near Chennai to go on stream from November.(BL)
Dhanalakshmi Bank plans to raise Rs4bn this year. (ET)
Century Plyboards plans to acquire a Thailand-based medium-density fiberboard making company at Rs3.5-4bn. (BS)
Industrial output expanded 2.7% in May against forecast of a 1.4% rise.(BS)Foreign exchange reserves fell by US$107mn to $264bn for the week ended July 3.(BL)
Government plans to build 12,000km of roads at a cost of Rs1tn this year, preferably on toll collection mode, says the Union Minister for Road Transport and Highways.(BL)
Private oil companies may get government subsidy.(Mint)
SEBI rejects plea to ease QIP pricing norms. (BS)
Department of Industrial Policy & Promotion recommends relaxation in FDI rules for small constructions.(BS)
USO subsidy in second phase of rural mobile project may be limited to infrastructure companies; DoT not to invite bids to rent space on towers.(BL)
Empowered GoM on the reserve price and number of slots for the 3G spectrum auction expected to be set up in August.(Mint)
Fertilizer Ministry may come up with guidelines for the new subsidy policy in the next two months.(FE)
Government plans to liberalize FDI guidelines for the realty sector.(ET)
Government constitutes a 13-member Cabinet Committee on Infrastructure headed by the Prime Minister.(BS)
Government considering stimulus package for the construction sector.(FE)