Daily News Roundup - Sep 22 2009

Axis Bank raised Rs34.9bn by issuing equity through a mix of QIP and GDR issue. (ET)

Reliance Industries is looking at acquiring some or all of bankrupt petrochem maker LyondellBasell. (ET)

DLF plans various options to fully or partly exit from the international luxury hotel chain Amanresorts. (ET)

Hindalco Industries has drawn up an Rs160bn capex plan for the next two years. (ET)

The cash-and-share swap deal between Bharti Airtel and MTN is ready to be signed. (BS)

M&M launches two scooters aimed at the rural market. (BS)

NTPC is exploring tie-ups with oil PSUs to jointly bid for the oil and gas blocks put on offer under NELP-VIII. (BL)

Bharti Airtel is offering to retain the top management of MTN for at least three years, giving option of an all-cash offer to minority stake holders of MTN. (ET)

NMDC to set up a 5mtpa capacity integrated steel plant in Bellary district at an investment of Rs92.8bn. (BL)

Indian Oil Corp plans Rs40bn investment in pipelines to cut transport cost. (BL)

Tata Motors and Ashok Leyland are planning to increase prices of their products by 1-3% from October 2009. (ET)

Maruti has increased its export targets by nearly 8%. (FE)

Hindalco Industries will achieve financial closure of Rs50bn by November for its Utkal Alumina project at Rayagada, Orissa. (BL)

Steel Authority of India set to take over the Salem unit of the ailing public sector Burn Standard Ltd. (BL)

NALCO plans to invest over Rs250bn to launch new projects and undertake major expansion. (BS)

NALCO plans to enter the energy sector as an independent power producer. (BS)

Tata Motors wholly-owned subsidiary received loan of Rs788mn from the UK government for its Rs1.97bn electric car programme. (BS)

Air India may hedge around 25% of its fuel requirement. (ET)

Power Grid plans to raise Rs25bn through a bond issue by October-November this year for financing various projects. (BS)

The government has proposed a penalty of over Rs410mn on Tata Tele, Rs310mn on Bharti Airtel and Rs196.5mn on RCom and others, for not rolling out network on time. (BS)

Higher project costs force IOC to raise capex by 22%. (BS)

JSW Steel is seeking allotment of a captive iron ore mine in the iron ore-rich Bellary-Hospet region of north Karnataka. (BS)

PNB is in the process of picking up a stake in a small Kazak bank, Metrokombank, Central Asian state. (ET)

HPCL enters into an agreement to supply LPG to US-based fuel cell manufacturer plug power. (ET)

Alstom Projects says it has received an Rs5.6bn contract in consortium with global players for providing signaling system to the Bangalore Metro Rail Corporation. (BL)

RPG group proposes to invest Rs150bn over five years to take its capacity to 6,000MW from 1,250MW by adding thermal and hydel projects. (BL)

RPG group is looking at bringing in a PE partner to provide a requisite fillip in overcoming the current crisis and help in expanding its retail business, Spencer's Retail. (FE)

Sante Fe Mining, a Chilean company in which the JSW Group has a 70% stake, will start producing iron ore in two years. (BL)

The DGH has approved Gujarat State Petroleum field development plan for 2 trillion cubic feet for the KG-8 Deendayal-West field in the Krishna-Godavari Basin. (BS)

Man Industries is exploring the potential to set up a manufacturing unit in the US at US$200mn. (BS)

Indian Overseas Bank plans to foray into the venture capital business. (BS)

Promoters plans to increase shareholding in Hindalco from open market purchases. (BS)

RNRL asks Supreme Court to dismiss government’s petition on Reliance Industries gas. (BS)

Maytas Infrastructure-Nagarjuna Construction consortium is likely to lose the Machilipatnam port project. (DNA)

Gujarat NRE Coke has recommended a bonus issue of DVR shares (differential voting rights) in the ratio of 1 DVR bonus share for every 10 equity shares held. (DNA)

Emami Group is likely to list its real estate business once the amalgamation of Zandu Pharmaceutical, which it acquired last year, is completed. (DNA)

NALCO to go ahead with its Rs60bn aluminium complex venture in Andhra Pradesh as the bauxite mines it had sought has been cleared by the Centre and Andhra Pradesh government. (FE)

Gujarat NRE Coke has planned further capital expenditure of Australian US$470mn to ramp up production. (FE)

Indraprastha Gas has objected to oil regulator PNGRB’s decision to open price bids for giving gas licence for Ghaziabad. (ET)

Shree Renuka Sugars has applied to the NCDEX for surrendering its trading membership. (ET)

HDFC Standard Life is likely to have a capital infusion of Rs3.5bn in the current fiscal. (FE)

Cinemax plans to add four more screens with the launch of its new property at Ghatkopar. (BS)

Tata Motors plans to launch Freelander 2, on September 22. (BS)

Serum Institute of India and its owner-promoted company, Adurjee & Bros Pvt Ltd, increased their stake in Orchid Chemicals to 10.35% by acquiring another 3.59% stake with an investment of close to Rs700mn. (BS)

Aurobindo Pharma receives USFDA approval for Atomoxetine Hydrochloride capsules. (BS)

The Centre approved the proposal for grant of mining lease to NALCO over Gudem and Katamraju Konda bauxite blocks in Andhra Pradesh. (BS)

Pipavav Shipyard’s IPO subscribed 8.21 times till the close of the issue. (BS)

THE health ministry is in talks with Novartis, Baxter and GlaxoSmithKline to negotiate a procurement price and place an advance purchase order for swine flu vaccines by Monday. (ET)

Godrej Consumer announced it would consolidate its business by going for acquisition of foreign brands. (ET)

3i Infotech raised US$66.3mn by selling stock to international institutional investors. (ET)

Blackstone is set to buy a 25% stake in Gateway Rail Freight Ltd, the container train services unit of Gateway Distriparks, for Rs2.5bn. (ET)

Glenmark Pharma received the approval from USFDA to launch its generic version of Verapamil, a hypertension drug, in the US market. (ET)

Sun Pharmaceutical aims to file 30 applications in the US for manufacturing and marketing of its generic products. (ET)

The agriculture ministry has okayed Monsanto India’s plan to do business in genetically modified material. (ET)

Emami is undertaking a major image makeover of Zandu brands. (FE)

Amul cuts butter supplies by 25% on low milk output. (ET)

The Government plans to invest Rs90bn fro the expansion of the Vizag Steel Plant. (ET)

The RBI is preparing to ban lending below the prime lending rate (PLR). (ET)

The government is likely to allow insurance companies to list after five years of operations against the 10 years prescribed at present. (BS)

Capital adequacy ratio of banks rises to 13.98% from 13.01% a year ago. (ET)

Excise kitty in the five-month period stood at Rs336.02bn, against Rs450.79bn in the same period last year. (BS)

Foreign exchange reserves grew US$3.32bn in the week up to September 11, 2009, to US$280.98bn. (BS)

A proposal to allow private players to set up nuclear projects in the country, envisaged through an amendment to the Atomic Energy Act, is likely to be put on the backburner. (BL)

IRDA is planning to bring out comprehensive disclosure guidelines for insurance companies by September-end. (BL)