Daily News Roundup - Sep 1 2009

Oil ministry seeks to form a new EGoM for allocation of next 40mmscmd of gas from Reliance Industries’ KG-D6 field. (ET)

Aircel and RCom are in the final stages of negotiations for US$300mn infra sharing deal. (BS)

RCom prepays term loan worth Rs50bn. (BS)

The Union Government to hand over the reins of management and promoter status of Maytas Infra to IL&FS. (BS)

NTPC plans to bid in the eighth round of NELP. (FE)

Tata Motors aims to reach full capacity utilization at its Pantnagar plant in Uttarakhand for Nano in near term. (FE)

Britannia Industries has is planning to hike biscuit prices in the near future. (FE)

Britannia Industries bought out Khimji Ramdas Group’s 30% stake in Dubai-based Strategic Food International Co LLC (SFIC), to make it a wholly-owned indirect subsidiary of the company. (BL)

Oil India plans to invest nearly Rs45bn in the next two years on exploration-related activities. (BL)

Oil India plans to add five more rigs to its kitty. (BS)

The first phase of the NTPC-BHEL power equipment project at Mannavaram in Chittoor district of Andhra Pradesh will be completed by 2011-12. (BL)

Tata Steel to spend Rs11bn to augment capacity of its iron ore mines at Joda (Orissa) and Noamundi (Jharkhand). (BL)

Oriental Green Power (OGP), promoted by Chennai-based Shriram EPC, would invest Rs7.3bn for setting up biomass-based power plants. (BS)

Crompton Greaves eyes another overseas acquisition in the next eight months. (BS)

Four Soft is exploring acquisition opportunities in Europe and the US. (BS)

US-based Intel Capital may emerge as one of the bidders for a stake in the factories owned by ITI Ltd, as part of its strategy to spread WiMax technology in India. (BL)

Kingfisher Airlines plans to raise Rs10bn via GDR, rights issue. (ET)

Jet Airways to raise US$400mn through various fund raising routes. (ET)

The Godrej Group is looking at selling its non-core businesses, including the food business. (BL)

Unity Infraprojects has bagged Rs3.2bn order from the Municipal Corporation of Mumbai. (BL)

Corporation Bank has raised Rs 100 crore through issue of tier-I bonds. (BL)

The proposed Godrej Properties IPO could be floated as early as November. (BL)

Supreme Infrastructure has secured Rs2.4bn contract for construction of a housing project at Gurgaon from Ramprastha Developers. (BL)

Corporation Bank has raised Rs1bn through issue of bonds. (FE)

India’s GDP growth stood at 6.1% in Q1 FY10, primarily due to expansion in manufacturing and services sectors. (BS)

Annual retail inflation as measured by CPI for industrial workers rose by 11.89% in July. (ET)

India’s fiscal deficit hits 40% of FY10 target in first four months. (ET)

Growth in bank credit to corporate sector dipped further to 14.89% for week ended August 14. (FE)

Government grants 6 more months to repay farm loan to farmers in view of drought in many parts of the country. (BS)

The petroleum ministry said it will ensure unfettered access to the accounts of private oil and gas contractors for the Comptroller and Auditor General (CAG). (BS)

The Insurance Regulatory and Development Authority (Irda) plans to cut Ulip approval time from 30 to just 3 days. (BS)