Daily News Roundup - Aug 19 2009

Cairn Energy, ONGC to invest US$4bn in Rajasthan (ET)

RIL has no objection to CAG audit on gas field costs (ET)

Cipla gets High Court approval to sell copy of Bayer’s cancer drug (ET)

Steel Minister has asked SAIL to complete its ongoing Rs700bn expansion program on time (ET)

NTPC FPO likely next year (BL)

NTPC invites global bids for 2.5mmscmd gas (FE)

Infosys to foray into new application areas (FE)

M&M to spend Rs20bn to augment capacity at its Chakan plant to drive into the US market (ET)

M&M to launch four tractors in the current fiscal and expects 10% growth in farm equipment sales (BS)

Mahindra Satyam is eyeing business shift to spur revenues (FE)

SBI to launch host of sector-specific PE funds in addition to a venture capital fund (BS)

DLF is set to bag a 350-acre land parcel in Gurgaon for ~Rs17bn (ET)

Unitech Wireless raises Rs50bn as bridge loan from SBI to fund the rollout of its operations (ET)

Reliance Infra takes MSRDC to High Court over toll bid rejection (ET)

Bombay High Court admits AB Nuvo’s application challenging IT department’s demand for capital gains tax (ET)

DLF Pramerica to infuse Rs1.5-2bn by 2010 to maintain its solvency ratio and to develop infrastructure (BS)

AB Nuvo expects Rs6bn equity infusion from its promoters in the current financial year (BS)

Bharat Forge to raise Rs7.5bn to meet its long-term financial requirements (BL)

Welspun Group firm, Welspun Power & Steel, plans to invest Rs60bn towards setting-up a fully integrated 1.5mtpa steel plant in Maharashtra (BS)

Puravankara Projects plans to develop a high-end villa project in its 26-acre land parcel on Colombo’s airport road (ET)

RPG Group owned Spencer’s Retail is looking at diluting 10% stake to raise funds (ET)

Dish TV to raise US$200mn through issue of securities in domestic and international market (ET)

Glenmark is facing a lawsuit in US for a patent infringement case of an anti-malaria product (ET)

Foreign investment in local banks in the form of ADRs, GDRs, FCCBs and any type of convertible warrants may not be part of FDI (ET)

Power Ministry will ask for more natural gas for additional power generation capacity of around 15,000MW (BL)

Government to divest stake in at least 6-7 PSUs in next ten months (BL)

Government has cleared FDI proposals worth Rs11bn (ET)

Exports in July 2009 declined by 26% yoy, as per trade secretary (BS)

Gold imports dip 67.5% in July 2009 (BS)