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Friday, July 31, 2009

Daily News Roundup - July 31 2009


Bombay High Court allows RIL to amend plea in NTPC suit (ET)

Supreme Court declines RNRL’s plea for September 1 settlement (BS)

Software firms such as Infosys, Wipro are in talks with ECGC for risk cover against payment dues from overseas customers (Mint)

SAIL may hit capital market through another public offering this year to raise funds for its ongoing expansion program (ET)

Cairn to start production from its Rajasthan desert field of Mangala next month (ET)

Essar Power has tied-up debt required for Rs48.6bn, 1200MW thermal power plant in Madhya Pradesh (ET)

Tata Communication bags an outsourcing deal from Gotalk, an Australia-based communication company (BS)

BoB is planning to foray into private equity space (BS)

Bharat Forge and MIDC join hands for a multi-product SEZ to be developed at Khed in Pune district (ET)

UTV founder may sell minority stake in UTVi, its English news channel (BS)

Mphasis plans to double its BPO employees over the next 2-3 years from the current strength of 18,000 (BS)

Subex has moved about 20% of work being done by its subsidiaries in Europe and America to India (BS)

Apollo Hospitals to invest US$175mn on five new specialty hospitals for children (BS)

Inflation for the week ended July 18 was at -1.54% (ET)

Approvals for overseas borrowings by Indian corporates have touched almost US$2bn in June 2009 (ET)

Undistributed dividends of foreign entities controlled or owned by Indian companies will be taxed in the near future (ET)

STT collection clocks positive growth in July 2009 after nine months of yoy decline (ET)

Government will award road projects worth Rs2,000bn in the next two years (ET)

Monsoon progress still weak so far with deficit standing at 19% (FE)