Daily News Roundup - Oct 12 2009

Tata Motors raised US$750 million through an issue of GDR and convertible bonds to fully pay off JLR loan (FE)

Infosys Technologies says business climate was improving and the IT industry had the potential to return to double digit growth rates from around the middle of next year. (TOI)

Reliance Infra agrees to pay marketing margin to RIL. (ET)

L&T is planning to list the FCCBs on Singapore bourse. (FE)

Bharti Shipyard hikes stake in Great Offshore to 23.17% (ET)

Oil India in talks with explorers for strategic alliance to participate in NELP-VIII. (BL)

Teva Women's Health of Israel and Warner Chilcott of Puerto Rico have sued Lupin in separate patent infringement cases in the US. (BS)

BHEL is in talks with Areva, Toshiba and Westinghouse for nuclear technology tie ups.(ET)

DLF is set to launch DKNY Jeans in India by opening exclusive outlets in Mumbai, Delhi NCR, Kolkata and Hyderabad. (ET)

The Foreign Investment Promotion Board approves Jet Airways’ plans to raise US$400mn through sale of fresh shares to qualified foreign institutions. (ET)

MRPL is likely to receive 0.2mn tonnes of crude oil from the Rajasthan fields of Cairn India and ONGC. (BL)

IVRCL Infrastructures & Projects has announced it has received orders worth Rs5.2bn. (BL)

UTV Software will raise Rs7.5bn through various channels. (FE)

Parsvnath Developers is looking to raise about Rs. 5bn this fiscal by selling equity at project level. (FE)

Sterlite Energy is believed to have bagged the country’s first ultra mega power transmission project. (FE)

The high court has given its approval for the merger of the two group companies of Godrej Consumer. (FE)

GMR energy plans IPO to fund expansion. (ET)

The battle for control of Chiria mines seems far from over with its prime stakeholder SAIL stepping up the ante to get full control of the over 2bn tonne ore reserves estimated in the region. (ET)

Kishore Biyani, MD of Pantaloon will consolidate the 22 companies in the group into three verticals-retail, logistics and financial services-which in turn will be controlled by the promoters through a main holding company. (Mint)

Tata Steel to set up Rs300mn hospital near its rehabilitation colony at Gobarghati. (BS)

The telecom unit of PowerGrid Corp. is in discussion with SingTel and British Telecom for leasing out broadband capacity on its optical fibre network. (BL)

Five foreign investors have stepped in as anchor investors in Indiabulls Power IPO, picking up shares worth about Rs3.2bn. (TOI)

Dabhol power project owned by cash-strapped Ratnagiri Gas and Power is yet to be fully commissioned, but an additional capacity of at least 2,000MW is already being planned at the same location with an investment of around Rs80bn. Mint)

JK Tyre, Ceat up tyre prices by up to 4%. (DNA)

Coal India to select foreign partners for overseas assets by March 2010. (FE)

PNB expects to acquire a controlling stake in Kazakhstan-based Kazakh Lender Metrokombank shortly. (BL)

PNB may seek Rs30bn of World Bank fund for recapitalisation of public sector banks in India. (BS)

Prajay Engineers will invest Rs6bn in developing two hotels and a 23-tower residential project in the city. (BL)

EID Parry acquired 76% equity stake in Sadashiva Sugars for Rs500mn. (BS)

Prajay Engineers launches Rs7bn residential project in Hyderabad. (BS)

RBI clears Standard Chartered IDR issue with a few conditions. (ET)

Foreign reserves for the week ended increased by US$430 million to US$280bn. (FE)

PM reaffirmed continuation of stimulus package till the economy is completely out of the woods. (ET)

Hopes for raising Rs350 billion through 3G auction have been clouded by fresh questions raised by defence authorities over vacation of spectrum (ET)

The 12 ports owned by the Union government together handled 268 mn tonnes of cargo in the first six months of the current fiscal, a growth of 2.3% yoy. (Mint)

Private sector projects accounted for over 60% of the 4,423-MW commissioned so far this fiscal, according to Central Electricity Authority data for April 1- September 15. (BL)

Government to tweak new direct tax code; may have a relook at MAT, low-income segment to get more incentives. (TOI)

105 out of the 591 central-sector projects have reported slippages of 1-18 months, according to the Union ministry of statistics and programme implementation. (DNA)

A group of ministers looking into the pricing structure of jet fuel is expected to take up a proposal on Monday for freeing up imports of the commodity. (ET)