Daily News Roundup - Aug 13 2009

Reliance Communications ties up with Kodiak Networks, a group communications solutions provider for commercial roll out of mobile conferencing services. (BS)

Reliance Industries and IGL to sign gas supply pact for a supply of 0.308mmscmd. (BS)

Reliance Industries has pulled out of ONGC led consortium, which was formed to bid for a 40% stake in Venezuelan oil field. (ET)

Minister of Heavy Industries and Public Enterprises says, BHEL sell-off is not on agenda. (FE)

L&T bags Rs40bn Jaiprakash Power plan order. (BL)

Unitech to offer 5,000 affordable homes in 7 cities. (BS)

Supreme Court tells NTPC to seek transfer of high court case to Supreme Court. (ET)

NHPC IPO subscribed over 23 times. (ET)

Axis Bank to raise Rs9.4bn through preferential allotment of 18mn shares to its promoters. (ET)

Jaiprakash Ventures, the power vehicle of Jaypee Group will merge with Jaypee Hydro in the next 4-5 months. (BS)

Coal India hopes to raise Rs60bn from stake sale. (BS)

Ranbaxy enters protein supplement market with the launch of Revitalite. (BL)

Nalco may delay the construction of an aluminum smelter in Jakarta due to problems of securing coal supplies for power generation. (BL)

Fortis Healthcare to spend Rs6.6bn on retiring debt, setting up a hospital in Gurgaon and redemption of preference shares. (BS)

Jet Airways is in talks with real estate developers to jointly develop around 1.5 acre in Bandra-Kurla Complex, Mumbai. (ET)

Sun Group plans to enter aviation business. (ET)

Yes Bank not to hive off I-Banking arm. (BS)

Tata Chemicals to intends to buy additional 35.8% stake in Rallis India at a price not exceeding Rs850/share. (ET)

Adlabs to raise Rs6bn via rights issue. (BL)

DoT may demerge surplus VSNL land into a new company. (BL)

Orchid Chemicals has settled its patent litigation with Schering-Plough, a US based drug major. (BS)

Uttam Galva to increase galvanized and CR steel prices by Rs2,000/ton. (BS)

Mphasis has acquired the Indian IT captive unit of AIG for an undisclosed sum. (ET)

Yash Birla group plans Rs5bn education foray. (BL)

The Finance Minister unveiled the new direct tax code. (ET)

IIP for the month of June 2009 rises 7.8% yoy. (BS)

Monsoon rainfall deficit widens by 1% from the previous day to 29% on August 10. (FE)

Imports decline by 37% in July 2009 to US$18.31bn, while exports dropped by 26.6% to US$12.53bn. (ET)

Credit growth is marginally up to 15.8% for the fortnight ending July 31, 2009. (FE)

The Government has placed orders for generation equipment adding up to 80,610MW of power projects in the XI plan, exceeding an initial target of 78,750MW. (FE)

India will sign a free trade agreement with ASEAN. (ET)