Daily News Roundup - Aug 17 2009

Tata Steel aims for JV with South Africa, Vietnam mining firms. (FE)

Idea Cellular plans to hive off the six overlapping licences it inherited from Spice Communications it acquired last year into two entities. (ET)

Special Undertaking of UTI is looking to divest around 17% stake from its 27.02% holding in Axis Bank within next four months. (ET)

Tata Motors may buy the entire stake of its partner, Thonburi Automotive, in the Thailand venture in case the overseas entity is unable to raise fresh equity. (TOI)

Maruti Suzuki plans to launch sports luxury car Kizashi in India in 2010. (ET)

Reliance Industries drops out of the alliance with ONGC and IOC for jointly bidding for a US$16-18bn oilfield in Venezuela. (TOI)

Tata Motors plans to invest about Rs80bn during the next three to four years as capital expenditure and product development.(TOI)

Reliance Industries is ready to supply gas to NTPC’s NCR plants. (ET)

Tata Motors seeks guarantees from state-owned banks to raise money to meet working capital needs and upgrade technology. (ET)

Coal India plans two-phase 15% disinvestment.(BL)

JSW Energy has filed regulatory application for an IPO to raise up to Rs30bn. (ET)

ONGC approaches the DoT for allocation of spectrum to set up a captive communication network for its Western Offshore site. (BS)

Reliance Industries has found natural gas reserves in a well drilled on its NEC-25 block in Mahanadi basin, off the Orissa coast.(TOI)

L&T plans of forming two separate JVs for manufacturing and servicing of defence equipment with Germany’s EADS Deutschland is facing roadblocks. (ET)

The civil aviation ministry has sought Cabinet’s nod for Air India to float tax-free bonds worth Rs50bn and fresh equity from the government to fund its fleet expansion plans and other expenses. (ET)

Coal India plans a price hike of 11%. (Mint)

Bajaj Auto planning 1-tonne commercial vehicle. (BL)

Orbit has raised Rs1.45bn through the issue of shares to QIB on a private placement basis. (ET)

The Delhi High Court rejects a petition by Jet Airways challenging a penalty of ~Rs44 lakh imposed on the airline by the government for a delay in submission of Indland Air Travel Tax. (ET)

Government has fixed a price of Rs36/share for the allotment of shares in NHPC, thus raising Rs60bn. (TOI)

The Supreme Court has rejected iron-ore mining lease application of Orissa Sponge Iron and Steel. (ET)

HCL Infosystems plans to raise Rs8.25bn through the issue of securities, including shares and warrants, in the global or domestic markets. (ET)

Man Industries receives Rs7.5bn order.(BL)

Quippo Telecom Infrastructure, the telecom tower subsidiary of SREI Infrastructure Finance, will raise Rs9bn by issuing fresh equity and selling shares in the secondary market.(Mint)

Religare Enterprises submits a non-indicative bid to buy the Asian private banking assets of ING, Dutch insurance and banking major. (ET)

Datacom Solutions has signed an infrastructure sharing deal with Tata Teleservices that will allow it to lease bandwidth as well as towers across the country from the Tata group firm. (ET)

Whirlpool plans to invest Rs3bn in India over 3 years. (ET)

India's foreign exchange reserves fell to US$271bn as on August 7, from US$272bn a week earlier.(BL)

The Road Transport and Highways Ministry is set to award 58 projects worth Rs190bn for building over 7,000 km roads in various states. (BS)

Centre is mulling granting sugarcane growers a bonus over and above its already announced statutory minimum price of Rs1,078/tonne for the ensuing 2009-10 crushing season.(BL)

Oil companies hike ATF prices by 4.5%.(FE)

RBI sees more pressure on food prices as drought looms.(BL)

Private oil field companies may have to detail capex spend to CAG.(BL)

Government moots higher FDI for FM radio, DTH.(DNA)

State government lines up Rs750bn of investment to boost power generation in Maharashtra alone. (ET)