Daily News Roundup - Sep 15 2009

South Africa seeks dual listing for MTN before the expiry of the merger talks deadline between Bharti Airtel and MTN. (ET)

RIL has received approvals from high courts of Bombay and Gujarat for the RPL merger. (ET)

NTPC has set two riders for KG gas deal - that the agreement will not have any ‘prejudice’ to pending cases and the marketing margin being charged on the gas price by Reliance Industries is reviewed by the Government. (ET)

IOC is implementing projects worth Rs600bn, including over Rs200bn in petrochemical and refinery capacity expansion. (BS)

RNRL has moved the Supreme Court seeking to become party to the NTPC case against RIL. (FE)

Sun Pharmaceuticals has won a temporary injunction from the Israeli court to prevent shareholders’ meeting of Taro Pharmaceuticals Industries. (ET)

Jindal Power Ltd, part of JSPL, plans to raise ~Rs40bn from the primary market to partly fund its 2,400MW superthermal power project in Chhattisgarh. (BS)

The Sri Lankan government wants to rope in RIL for exploration of oil in the island nation. (BS)

Corus, Tata Steel’s European unit, to restart its mothballed Port Talbot plant in South Wales, a month after reopening its Llanwern strip mill at Newport on renewed demand. (BS)

IOC’s board has approved the bonus issue in the ratio of 1:1. (FE)

Tata Motors has raised ~Rs2.4bn by selling 0.7% stake in Tata Steel. (ET)

Coal India is set to commission 19 washeries over the next five years with an investment of Rs30bn. (FE)

IOC to buy 1mn ton of crude oil from RIL’s KG basin. (FE)

RIL is keen on buying Cairn India’s Rajasthan crude oil, but said it cannot take the oil unless the pipeline from fields to Gujarat coast is built. (ET)

IOC expects oil bonds worth Rs62bn from the Centre. (FE)

OIL India’s issue price fixed at Rs1,050 per share. (ET)

Union Bank of India’s IPO is expected to hit market in the first week of January 2010. (ET)

Whyte & Mackay, the scotch whisky arm of United Spirits, is sewing up new bulk scotch supply contacts at 40-50% higher rates, possibly replacing a large existing deal with Diageo. (ET)

Areva T&D has bagged an order worth Rs760mn from Haryana Vidyut Prasaran Nigam Ltd. (FE)

Ingersoll Rand to invest US$100mn in India over 3 years. (BL)

Yes Bank to raise US$250mn in FY10 through private placement of shares and bonds issue. (FE)

Container Corporation of India is setting up an inland container depot at Baddi, which is expected to start operations by March 2010. (FE)

BASF India has received approval from its board for the merger of Ciba India and two affiliate firms with itself. (FE)

HDIL has agreed to pay tax on additional income of Rs3.5bn following raids by the revenue department. (ET)

Fortis Healthcare plans to float its Rs10bn rights issue by October. (FE)

Tata Chemicals to expand its edible salt production capacity at a capex of Rs1.5-1.7bn. (BS)

Sobha Developers plans to sell two of its land parcels with a total area of close to 44 acres in Bangalore. (BS)

Future Logistics Solutions, an arm of Future Group, has forayed into third-party logistics (3 PL) operations with Hitachi and Nestle. (BS)

Suven Life Sciences has received two patents in the US for its two chemical entities used in treatment of neurodegenerative diseases like Parkinson and Schizophrenia. (FE)

Mafatlal Industries has put an 85,000 sq ft property in Lower Parel on the block, hoping to generate between Rs1-1.5bn. (ET)

The Hinduja Group will invest up to Rs3.5bn in increasing capacity of its hospital in Mumbai. (FE)

The fertilizer ministry has laid claim to another 43.37mmscmd of RIL’s D6 gas to enable conversion of all existing non-gas based fertiliser unit to gas, revival of closed units and expansion of existing projects. (BS)

The Fertiliser Ministry has asked for a uniform price for natural gas delivered to urea plants across the country. (BL)

The Finance ministry has dropped its plans to amend or replace the Fiscal Responsibility & Budgetary Management (FRBM) Act of 2004. (FE)