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Wednesday, July 08, 2009

Daily News Roundup - July 8 2009


Supreme Court has issued notice to RIL, RNRL and government on gas supply dispute. (ET)

SEBI has waived the open offer clause for Bharti-MTN deal. (ET)

Company law board has authorized Mahindra Satyam to allot nearly 2mn shares to venture bay, 100% subsidiary of Tech Mahindra. (ET)

Tata Steel witness 22% jump in sales volumes during Q1 FY10, while production volume rose by 30%. (FE)

Sun Pharma US arm cuts 350 jobs. (ET)

JSW Energy, a subsidiary of JSW Steel to set-up 3200mw super critical thermal power plant with an investment of Rs150bn in Ratnagiri. (FE)

Bharti Shipyard has revised its offer price for Great Offshore by Rs2 a share to Rs405. (ET)

GAIL to raise Rs20bn via debt for expansion. (BS)

Infosys is looking for strategic acquisition in the range of US$40-60mn for a BPO based in US or Canada. (BS)

Pantaloon get nod to raise Rs10bn through a QIP issue. (ET)

Andhra Pradesh government has cancelled Rs121bn Hyderabad metro rail project contract awards to Maytas led consortium. (BL)

ABG Shipyard plans to raise funds through QIP issue. (BL)

Bank of Maharashtra plans to raise Rs5bn of Tier I capital every year for the next three years. (BL)

GVK Power to raise Rs30bn via QIB. (FE)

Corporation Bank to raise Rs3bn via issue of bonds. (FE)

Essar Steel is close to acquiring a majority stake in Shree Precoated Steel. (ET)

TRF Ltd has acquired controlling stake in Dutch Lanka Trailer Manufacturers Ltd of Sri Lanka. (BL)

Government to announce disinvestment road map in three months. (ET)

Government will re-launch NELP-VIII. (FE)

Bankers ask RBI to extend dead line for NPA restructuring to December 2009. (FE)

Tea export plunge 10% in May. (FE)

As per the government fiscal deficit could come down to 3% by 2012. (BS)