Daily News Roundup - Oct 6 2009

Rcom launches 50p/min rate for all telecom services. (BS)

Bajaj Auto plans to set up an assembly plant in a free trade zone in Manaus in Brazil in FY11. (BS)

TechM wins US$50m deal with Etisalat DB, the Indian arm of Emirates Telecom for rolling out GSM services in Bahrain (ET)

HCL Infosystems has bagged a 5-year IT outsourcing deal from Fortis Healthcare. (BL)

Lupin has out-licensed a new drug delivery system, developed in-house, to US-based drug major Salix Pharmaceuticals. (BS)

Daiichi signs marketing deal for Mexico with Ranbaxy, the third in recent months. (BS)

ArcelorMittal may exit Orissa & Jharkhand, and may begin a search for alternate sites for its US$20bn green-field steel projects in India. (BS)

Bharati Shipyard has hiked the open offer price to acquire stake in offshore service provider Great Offshore to Rs560 per share. (BS)

Dalmia Cement, the second-largest cement maker in south india has raised over Rs31bn in debt through a consortium of bankers (ET)

Radico Khaitan to seek shareholders approval to raise Rs3.8bn by share sale from domestic and international markets (ET)

Parsvnath to raise Rs6bn by selling stake in realty projects. (BS)

Ashok Leyland is in talks with Grupo Plaza of Argentina to set up a joint venture. (BL)

Madhucon Projects has secured a US$3.9mn order for a road project from the Government of Nepal. (BL)

ACC has raised Rs3bn through private placement of 3,000 secured non-convertible debentures. (BL)

MindTree has entered the mobile products business with the recent acquisition of Kyocera’s captive unit in Bangalore. (BL)

BSNL and MTNL have outlined their terms to buy stakes in Kuwait Zain Telecom group (ET)

Glenmark Generics Ltd, a unit of drug maker Glenmark Pharmaceuticals Ltd, plans to raise Rs 5.75 billion through an intial public offer (FE)

The government has asked SAIL to give a specific proposal for its proposed public offering (FE)

Ultratech board to meet today to consider the proposal from Samruddhi cement to merge the cement business (FE)

FM radio companies have threatened to shut shop soon due to no solution emerging in the legal battle between music companies and private FM radio operators over royalty rates. (BS)

The Supreme Court rejected the plea of Navi Mumbai SEZ Pvt Ltd seeking to restrain Maharashtra from demanding taxes in respect of land acquired for the special economic zone. (BS)

Trai is planning to make the one-second pulse a mandatory tariff option for all operators. (BS)

3G spectrum auction will be delayed further by 3 months as the foreign telecom companies have asked for more time since the auction dates clash with the Christmas break. (BL)

India’s foreign direct investments have increased to US$100bn through equity since 2000 up to July this year. (FE)