Bharti Airtel and MTN have extended exclusive merger talks until August 31, 2009. (ET)
L&T bagged two offshore platform contracts worth over Rs53bn from ONGC. (FE)
L&T plans to raise about US$600mn through the qualified institutional placement (QIP) route. (BS)
NTPC plans to diversify into renewables and hydro. (BS)
Wipro's consumer care business logged robust growth in Q1 FY10, accounting for 9% of total turnover. (BS)
Supreme Court asks BPCL to pay Rs50mn as pre-deposit to the Kerala commercial tax department towards sales tax. (FE)
Indian Hotels to look at various methods of raising funds to meet its future expansion plans. (BS)
HCL Technologies plans to convert the remaining part of ~Rs32.5bn bridge loan taken from Standard Chartered Bank of the UK last year into long-term debt. (ET)
SAIL produced 1.08mn tons of saleable steel in July 2009, a 14% increase in production on a yoy basis. (BL)
Sun Pharma has settled its dispute with US-based Medimmune for marketing a generic version of latter’s ethyol, a drug used in the treatment of head and neck cancer. (ET)
Wockhardt, Biocon insulin prices to fall by 70%. (ET)
Corporation Bank plans to raise an additional Rs7bn from bonds in the Q2 FY10. (FE)
The Government has told Parliament that GAIL India’s eight JVs for retailing CNG to automobiles and piped gas to industries have been authorised by the Centre and do not need fresh authorization from sector regulator, PNGRB. (FE)
ITC plans to expand facilities for biscuits, staples and confectionery in southern and eastern India. (FE)
Godrej Consumer is actively scouting for acquisition in China, Latin America and the Middle East. (ET)
A US Court ruled in the favour of Daiichi Sankyo in a patent litigation related to the anti-hypertensive drug, Benicar, against Mylan Inc and its Indian subsidiary, Matrix Laboratories. (BS)
The radio business of Adlabs Films Ltd (AFL), Big 92.7FM has been demerged from AFL into Reliance Unicom Ltd and will be listed on the stock exchanges soon. (FE)
Adani Power IPO issue price fixed at Rs100 per share. (ET)
The civil construction of the Rs50bn alumina refinery project of Utkal Alumina, a subsidiary of the Aditya Birla Group, near Kasipur in Orissa’s Rayagada district has resumed after being stalled for about two months. (BS)
Essar Group is looking at merging its telecom licence for Uganda with the Dhabi Group’s operations in that country. (ET)
Private equity fund D E Shaw to retain US$100mn investment in DLF assets. (FE)
South Asia Multimedia Technologies Ltd, a subsidiary of Sun TV has raised its stakes in South Asia FM Ltd from 6.98% to 20%. (FE)
Emami Biotech plans to invest Rs4bn in a plantation project in Oromia, Ethiopia within 5-6 years. (ET)
Yuksom Breweries has acquired Rhino Breweries in Assam for over Rs400mn. (ET)
Indian exports fell by 28% yoy to US$12.8bn during June 2009, dipping for the ninth month in a row. (BS)
The Petroleum Minister, Mr. Murli Deora, told the Parliament that the Government will protect its right to use and allocate gas. (BL)
The government proposes to raise the FDI in private sector insurance companies from 26% to 49%. (ET)
Government to levy stiff penalties for software pirates in new copyright law. (ET)
The government has declined to provide tax relief on the expensive energy-efficient consumer. (ET)
The Markit Purchasing Managers’ Index (PMI) for the month of July remained stationary on a mom basis at 55.3. (BS)
Bank credit to the sensitive sector comprising real estate and capital markets rose at a slower pace of 14.12% in 2008-09 compared to 26.1% in 2007-08. (BS)
Maharashtra state’s sugar production is estimated to drop by 30-40% yoy in 2009-10. (ET)