Daily News Roundup - Sep 11 2009

NTPC to save Rs320bn by procuring gas at US$2.34/mmbtu from Reliance Industries. (ET)

Reliance Industries seeks further allocation of KG-D6 gas. (BL)

Infosys targets US$1bn revenue from India in the next 3-4 years. (ET)

Government may shed 5% stake in NTPC before March. (ET)

Bharati Airtel may pay higher rate of interest for MTN loans. (ET)

L&T bags Rs4bn order from Nuclear Power Corporation. (BL)

L&T aims Rs40-60bn business from Nuclear Power equipments. (BS)

Oil India IPO was over subscribed 31 times. (ET)

Jet Airways and its pilots have reached a pact to break the deadlock. (ET)

M&M has launched two new 125cc power scooters The Rodeo and The Duro. (ET)

Jindal Power to invest Rs134bn for enhancing its power generation capacity to 3,400 MW by 2013. (ET)

JSW Energy plans to pre pay debt worth Rs4.75bn. (BL)

BHEL gets Rs9.9bn order from Indian Railways. (ET)

BPCL to spend around Rs30bn in the current fiscal to fund drilling operations in some exploration blocks, upgrade refineries and build a product pipeline. (FE)

IVRCL Infra has bagged order worth Rs5bn from Maharashtra Government, among others. (BL)

Ranbaxy asks USFDA to re-inspect Dewas facilities. (ET)

IT department raids 12 HDIL premises. (ET)

United Spirits plans to raise US$300mn to prune debt. (BL)

Axis Bank gets nod for GDR issue. (BS)

Ansal Properties may consider converting 3 out of 4 SEZ plots into a residential project. (BS)

IDFC PE to buy out wind power assets of BP for Rs6.5bn in India. (ET)

Murugappah to exit Chola DBS. (ET)


Inflation for the week ended August 29, inched up to -0.12%. (ET)

DGCA has asked airlines to drop fares to September 6 levels. (ET)

Petroleum ministry has recommended a 44% hike in APM gas prices. (FE)

Foreign exchange reserves for the week ended 28 August rose by US$4.4bn to US$276.4bn. (FE)

India’s exports contracted for 11th month in a row. August exports fell 19.7% to US$14.3bn, the lowest contraction since January. (ET)

GSM user base grows by 9.3mn in August. (ET)

SEBI panel has recommended limiting the period for participation by QIBs to 2-3 days in subscription process of an IPO. (ET)

FDI inflows up 55% in July to US$3.5bn. (ET)

Centre to import 5mn tons of raw sugar. (ET)

Power sector faces Rs5tn funding gap says Power Minister. (BL)

SEBI may ask institutional investors to cough up more than 10% of a public issue subscription upfront. (FE)

Tyre manufacturers are likely to raise tyre prices within a month. (BL)

ULIPs to have five year lock in period from October. (BS)