Daily News Roundup - Sep 18 2009

Reliance Industries-owned Petroleum Trust gained Rs31.9bn through the sale of 15mn treasury shares of RIL at Rs2,125. (BL)

Gas allocation for Ratnagiri Gas & Power Pvt Ltd’s from Reliance Industries KG-D6 block has been more than doubled to 5.67mmscmd. (BL)

NTPC will invest Rs177bn in the current financial year to add 3,300 MW of generation capacity. (BL)

ONGC expects to complete awarding contracts for B-193 cluster of marginal fields by early November. (BL)

Mahindra Satyam is close to getting back multi-million multi-year contracts from Telstra and Merrill. (BS)

Ten days after the West Bengal Government cancelled land allotment to Infosys and Wipro, the Government has now offered alternative plots of 45 acres each to the two IT majors. (BL)

Wipro is eyeing about Rs7bn from Government projects in the current fiscal. (BL)

HCL Technologies has bagged IT infrastructure management contracts worth US$113mn from Energy Future Holdings Corp (EFH), a Texas-based, privately-held energy company and Oncor, a listed subsidiary of EFH. (BL)

Patni targets 6% revenue from domestic market by 2012. (BS)

SBI is looking at acquisitions of up to US$1bn in UK and expected to maintain a 40% growth rate in its UK business. (BS)

Thermax has bagged an order for the turnkey project worth Rs10bn for supply of a 270 MW power plant being set up by a Hyderabad-based infrastructure company. (BL)

Hero Honda has decided to expand its Haridwar manufacturing facility after resolving issues with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (Sidcul) to retain its hold over the 94 acres of vacant land. (BS)

Nalco aims to scale up its annual business turnover from Rs60bn at present to Rs100bn in the next five years. (BS)

Ranbaxy Laboratories has entered into an in-licensing agreement with South Korea’s Medy-Tox Inc for marketing its anti-ageing cosmetic product Neuronox in India. (BL)

Alstom and its consortium partners have signed a contract worth Rs5.6bn with Bangalore Metro Rail Corporation Ltd (BMRCL) to supply signalling system for the first two lines of the new Bangalore metro system. (BS)

SBI plans to increase share of its profit from overseas operation to 10% as against 8% currently. (ET)

Bharti-MTN deal stalled by Indian law, says President of South Africa. (FE)

ACC has planned a capex of Rs14bn to expand its capacity to 30mtpa by 2010 end. (ET)

ACC to raise Rs3bn to retire debt. (ET)

South Africa based Millicom rejects BSNL bid; Bharti Airtel still in fray. (ET)

Axis Bank has opened its QIP and GDR issue to raise up to US$1bn. (ET)

Raymond has announced plans to enter real-estate business to capitalize on surplus land. (ET)

HCL Technologies has bagged two five year contracts worth US$110mn. (ET)

Glaxo may pick up 5% in Dr.Reddy’s for Rs7.3bn. (ET)

ABG Shipyard may revise Great Offshore bid price. (ET)

Century Textile moves Bombay High Court against Bombay Dyeing over a land dispute. (ET)

IDFC and Kribhco buy 5% each in Indian commodity exchange jointly promoted by Indiabulls and MMTC. (ET)

Aban Offshore plans to raise Rs44.2bn via ADR, GDR or QIP issue. (ET)

Dabur plans to launch OTC drugs. (BS)

AIG to sell its 26% stake in Tata AIG life insurance JV to its Indian partner. (FE)

Coal India to get prospecting license for Mozambique coal blocks soon. (BS)

Genpact and Blackstone are the frontrunners to buy majority stake in WNS. (ET)

UBS in talks with Genpact Cognizant to sell captive IT business and KPO operations in India. (ET)


Inflation for week ended September 5 stood at 0.12%; in positive after 13 weeks. (ET)

Divestment PSU to continue says PM. (ET)

CERC announces tariff norms for renewable energy sector. (ET)

CNIE has raised it FY10 GDP forecast to 5.9% from 5.8%. (ET)

RBI issues draft norms for REPO in corporate debt securities. (FE)

Rainfall deficit has increased from 20% in early September to 21% on September 16. (BL)

Steel imports in July surged 94% to 561,000 tons against 289,000 tons. (BL)

The World Bank has agreed to provide a US$3bn loan for developing national highways in India. (BS)

Government extends stock limits on sugar, pulses, rice and oil seeds upto September 2010. (ET)

As per the US Foreign Agricultural Service, rice output in India will decline 7% more than forecast next year because of a drought in the main growing regions. (BS)