Daily News Roundup - Sep 3 2009

RIL has told power ministry about NTPC reluctance to sign the gas supply contract. (BS)

Maruti is considering hike in production capacity at Manesar plant. (BS)

Power Ministry wants more gas from RIL’s KG-Basin block for new power projects. (BS)

MTNL has submitted a bid to acquire a 75% stake in Nigerian Telecommunications. (ET)

NTPC plans to move the Supreme Court against a decision by a division bench of the Bombay High Court that allowed Reliance Industries to make changes in its written arguments. (ET)

Tata group may consider diluting its stake in Infiniti Retail, its wholly-owned subsidiary, which runs the consumer durable chain Croma. (ET)

IOC is likely to sign a JV agreement with Nuclear Power Corp of India this month to foray into nuclear power generation. (ET)

Bharti Airtel plans to roll out 3G services by October 2010. (FE)

Tata Sons plans to raise its stake in some group companies, after its dividend from TCS doubled to Rs20bn. (ET)

DoT has asked Sistema Shyam Teleservices to seek fresh approval for its wholly-owned subsidiary Shyam Internet Services, an internet service provider. (ET)

Bank of India eyes entry into 14 foreign locations with Rs6bn investment in FY10. (FE)

Tata Motors is considering raising small commercial vehicle manufacturing capacity after its Pantanagar facility reaches full capacity. (ET)

Godrej Appliances plans to invest Rs1.2bn for setting up a television facility in Himachal Pradesh by the middle of next year. (ET)

Tata Steel, SAIL and ISPAT Industries have increased flat product prices by upto Rs1,500/per ton . (BS)

Bajaj Auto august two-wheeler sales rise 4% yoy. (BS)

Tata Motors to hike its production ACE light truck by 15-20% till end of March. (BS)

IL&FS backs out of stake buy in Tata Tea plantation unit. (BS)

Tata Motors to phase out 15 truck model by March 2010. (BL)

Ranbaxy to sell products of Daiichi Sankyo in Romania. (BL)

IL&FS has announced an open offer for Maytas Infra at Rs112.8 per share. (BS)

Oil India is looking in overseas acquisition in partnership with IOC and may form JV for pipeline projects. (BS)

Shriram EPC arm to set up 18MW wind farm in Czech Republic. (BL)

SEBI has granted MCX-SX one more year to complete the exchange’s disinvestment process. (BS)

Government may sell 15% stake in Coal India as against 10% proposed earlier. (BS)

Modi Rubber plans to sell an undisclosed equity stake to German technology partner Continental. (ET)

Carborundum Universal has signed a division agreement with its Chinese JV partner, China Metallurgical Geology Bureau for restructuring the JV, Jingri-CUMI super hard materials Co. (ET)

Golden Tobacco may co-develop or sell its 7.5-acre property in western Mumbai. (ET)

Loop Mobile plans to invest Rs3.6bn as FY10 capital expenditure. (FE)

Europe based hospitality group Accor, owning ~4,000 hotels across the world, plans to open 45 new properties in India by 2012. (FE)

Finance ministry has exempted transport of goods by Railways from the service tax. (BL)

The Government has made it mandatory for automobile manufacturers to sell vehicles with energy-efficiency tags from 2011. (ET)

The Government is looking at a proposal to remove a 1mn ton limit on white sugar imports. (ET)

Airfares are likely to rise by 10% in the current month as jet fuel prices go up. (ET)