Daily News Roundup - Sep 17 2009

RIL may raise as much as US$880mn by selling its own shares which were in a trust so far (ET)

TCS sets up global delivery unit in Argentina (ET)

Supreme court has allowed TVS Motor Company to make and sell the 125cc 'Flame' motorbikes sporting twin-spark plugs (BS)

TCS eyes US$700m outsourcing deals from Latin America (BL)

Sun Pharmaceutical Industries and US subsidiary Caraco Pharmaceuticals, plan to file 30 Abbreviated New Drug Applications with the US Food and Drug Administration (FDA) to market generic drugs (BS)

RNRL moves apex court to make NTPC a party to case with RIL on gas supplies from the Krishna Godavari Basin D6 block (BL)

Orchid Chemicals has received approvals from the US Food and Drug administration for its anti-infection drug Piperacillin-Tazobactam, in injectible form (BL)

Bharti Shipyard has increased its stake in Great Offshore to 22.5% (BL)

Petron Engg bags Rs1.5bn order from Power generation Infrastructure (BL)

Tata Capital to raise Rs21bn in Tier II capital by the end of March 2011 (BL)

GMDC to invest Rs6bn in wind power project (BS)

Power Grid Corporation of India has agreed to invest about Rs90bn for improving the power evacuation infrastructure in the state (BS)

LIC Housing Finance has raised US$135mn through sale of shares to institutional investors (BS)

Supreme Court has criticised the MIDC for allotting 17acres in Nashik industrial area in favour of M&M (BS)

MMTC has resumed the bidding process to import 12.5 MT of non-coking coal for NTPC (ET)

Unitech Wireless to roll out services by year-end (ET)

Prakash Industries to add 625mw at Chhattisgarh unit (ET)

Reliance Infra terms RIL marketing margin illegal, refuses to pay levy (ET)

Petronet LNG to set up two power plants and is planning a rights issue to partfund the project (ET)

Koutons to raise Rs1bn through QIP for expansion (ET)

The ministry of civil aviation will shortly move a note before the Union cabinet for infusing additional equity in state-owned Air India (BL)

The Government of India will unveil a new policy on solar energy as part of its target to produce 20,000MW of solar power by 2020 (BL)

The Government is expected to bring out a revised Wholesale price Index (WPI) by December (BL)

The Indian Shipowners’ association that represent 36Indian shipping companies, has estimated Rs550bn towards replacement of aging ships in India (BL)

Power Minister is believed to have instructed state-run NTPC to sign a gas supply deal (BS)

States have finally reached a consensus on having two basic rates under the Goods and Services Tax (GST), slated to be rolled out on April 1, 2010. There will be one standard rate of taxation and another low rate of taxation for essential commodities.

NPPA revises prices of 240 medicines (ET)