The power ministry has asked the petroleum ministry to direct Reliance Industries to reserve NTPC’s 12 mmscmd gas for its Kawas and Gandhar plants. (ET)
ONGC will invest ~US$729.43mn in Cairn India operated Rajasthan oilfields. (BL)
ONGC Videsh, the overseas arm of ONGC will bid for a 30% stake in Jubilee oil fields in Ghana from the US-based Kosmos Energy for ~US$3-4bn. (ET)
ONGC Videsh and Gail India along with their South Korean partners Daewoo Corp and Korea Gas Corp may invest US$3.73bn in Myanmar. (ET)
Infosys bags US$10mn outsourcing contract from Intel. (ET)
Bajaj Auto to raise stake in Austria's KTM in the coming years to leverage on the foreign company’s superior expertise in technology and brand name. (BS)
The Ministry of Power has declined Tata Power’s request for 1mmscmd of gas from Reliance Industries’ K-G basin. (BS)
RNRL wants to sell the allocated gas from Reliance’s KG basin to fertilizer and power plants, till its Dadri plant is ready. (ET)
Strides Arcolab is exploring merger and acquisitions for its speciality pharma and R&D units. (ET)
BSNL plans to spend ~Rs3.5bn for CDMA expansion in 2009-10. (FE)
Reliance Industries is currently producing 31mscmd of gas from its KG D6 basin. (BL)
SBI expects a marginal growth in credit offtake on a qoq basis in the April-June quarter. (BS)
Marico is contemplating legal action against Central Board of Excise & Customs circular of levy of 8% excise on coconut oil packs of under 200 ml. (ET)
Sterlite Industries plans to raise funds through QIP route. (FE)
Nagarjuna Construction has dropped plans to issue warrants to Blackstone GPV Capital Partners (Mauritius), after it failed to get the regulatory approval. (FE)
US EXIM Bank approves Air India’s US$2bn loan guarantee for buying Boeing aircraft. (BS)
BGR Energy has secured an order worth ~Rs16bn from the Maharashtra Power Generation Corporation. (BS)
Power Grid Corporation of India is contemplating issuing bonds in the domestic market by the end of FY10. (BS)
JLR expects summer shutdown to be shorter than normal annual shutdown. (BS)
Work on Rs50bn Utkal Alumina project, a subsidiary of the Aditya Birla Group mired in uncertainty due to the failure of the tripartite talks among the company officials, affected people and the district administration. (BS)
Fortis expects its first phase of medicity to be operational by 2010. (BS)
Power Grid Corporation of India to go slow on developing the Rs50bn evacuation line from the 4,000MW Krishnapatnam UMPP. (BL)
Ashok Leyland and John Deere Construction & Forestry Company completed all legal formalities for the formation of the JV Company - Ashok Leyland John Deere Construction Equipment Pvt Ltd. (BL)
Air India has raised US$1bn from J.P. Morgan Chase and it plans to pay for 10 aircraft including seven Boeing 777 and three Boeing 737. (BL)
Workers resume duty at MRF’s Arakkonam unit. (FE)
Banks seek sovereign guarantee for giving loan to the National Aviation Company of India. (ET)
The Andhra Pradesh Government will call for fresh bids for the Rs120bn Hyderabad Metro Rail project on July 16. (ET)
Kenya has given a clean chit to drugs imported from India. (ET)
The Government will take a decision on imposing a special import duty of 25% on flat steel products by July end. (ET)
India Inc raised over Rs1,740bn through the issue of corporate bonds on a private placement basis in FY09. (BS)
Banks expect interest rates rising 100bps in second half of FY10. (BS)
The finance ministry seeks to drop January 31, 2009 cut-off for India Infrastructure Finance Company Ltd (IIFCL) refinance. (FE)
India to share information on non-trade issues with the European Union (EU) but wants the exchange to be kept out of the scope of the Free Trade Agreement (FTA) being negotiated with the 27-nation trade bloc. (BS)
The Government has formed a nine-member empowered group of ministers headed by the finance minister to settle all outstanding issues associated with the auction of 3G airwaves. (ET)
The Government has resumed its ban on wheat exports. (ET)
GSM operators have added 9mn users in June 2009 taking the total number of subscribers to 315.8mn. (BS)
Hydel power output has dropped by 9.31% in June 2009. (ET)
Air passenger traffic in H1 2009 was down by ~8%.(BS)
Cellphone sales fall 75% in Maharashtra after VAT hike. (BS)