Daily News Roundup - Aug 27 2009

Infosys, Wipro and IBM have won new outsourcing contracts worth US$1.5bn from BP. (ET)

Bharti Airtel may have to pay Rs20bn more than originally presumed to shareholders of MTN as the South African currency has significantly appreciated against the US Dollar. (ET)

ICICI Bank has come out with special offers on new home loans - 8.75% for a loan up to Rs2mn, 9.25% up to Rs5mn and 9.75% above Rs5mn. (ET)

Oil Ministry to consider a defamation suite against RNRL for persisting with false claims. (BS)

Government is likely to allocate 4.3mmscmd of gas from Reliance Industries’ KG Basin to five power plants by end of this week. (BS)

Reliance Infratel has entered in a tower sharing pact with Chennai based telecom operator STel. (ET)

Reliance Communication and China Telecom have launched a terrestrial cable connecting East Asia with the Indian sub-continent. (BS)

NTPC has signed a power purchase agreement with the Chattisgarh government. (BL)

Cairn India and ONGC to invest US$1.5-1.8bn more in Rajasthan over the next two years. (BS)

M&M to demonstrate its hydrogen powered three-wheeler vehicle ‘Hy-Alfa’ in 2010. (BS)

Mahindra Satyam is planning to add 300 people by next month. (BS)

Cipla plans to raise Rs15bn to retire debt and fund capex.(ET)

Union Bank to raise Rs15bn during the current fiscal. (FE)

Maytas Infra dilutes stake in highway projects to stay afloat. (ET)

Tata Tea plans major push in health and wellness sector by launching more products in this category. (FE)

Biocon to list two subsidiaries by next year. (BS)

Government has rejected REC QIP plans. (ET)

BEML bags order worth Rs2.1bn from an Indonesian coal mining company. (BL)

MRPL has shut down its refinery due to power breakdown. (BL)

Thermax has formed a 51:49 JV with US based SPX Corporation for manufacturing of plant equipments for large coal based power plants. (ET)

EIH has joined hands with Max India Chairman Aniljit Singh to set up a 100-room 5-star hotel in Dehradun. (ET)

United Spirits to mop up funds from PE investors or through rights issue to de-leverage its balance sheet. (BS)

Alstom Projects plans to set up metro rail coach facilities in Sri City, Chennai. (BL)

Motherson Sumi bags an order worth Rs40bn from a German contractor. (FE)

India’s headline inflation increases to -0.95% for the week ended August 15 from -1.53% in the previous week. (FE)

Foreign trade policy to be announced today. (ET)

Six core industries index grows by 1.8% for July 2009, lowest in the past five months. (ET)

Fund raising through ADRs to get easier. (ET)

ECB volumes have crossed over US$2bn mark in July, for the first time in past nine months. (BS)