Daily News Roundup - Oct 9 2009

L&T raises US$600mn through sale of shares and bonds to institutional investors for infrastructure play. (ET)

Government has cleared SBI and State Bank of Indore merger. (DNA)

SAIL logs 14% sales growth in 2nd quarter. (FE)

RIL says cant stick to gas pacts due to government policy. (FE)

ICICI Bank has reduced its auto loan floating interest rate by 50bps to 10.75-11%. (FE)

Tata Motors to launch Manza sedan next week. (BS)

Reliance Capital to enter into Investment Banking business. (FE)

IVRCL Infra bags order worth Rs5.2bn. (FE)

MTNL joins the race to acquire majority stake in Zambia Telecommunications Company (Zamtel). (ET)

Essar Group, may sell stake in its oil and shipping units, as part of a global expansion plan. (ET)

Bharati Shipyard has increased its stake in Great Offshore to a little over 23%. (ET)

Shree Cement to foray into commercial power business and will invest Rs12bn in the next two years to set up a 300MW thermal power plant in Rajasthan. (ET)

Kingfisher yet to settle fuel dues with BPCL. (ET)

CBI to extend Satyam probe overseas. (FE)

PTC India Financial Services, the investment arm of PTC raises raised Rs1bn through the issue of secured non-convertible debentures. (ET)

SRF to spend Rs10bn on a new factory to make fluorine-based products for sales overseas. (DNA)

JLR recalls 41 SUVs from the Indian market in September. (DNA)

Zee Entertainment enters into a multi-year content sharing deal with Disney-ABC. (DNA)

Home ministry puts off decision on Balco stake after Korba tragedy. (ET)

A consortium of Siemens Ltd and Siemens AAAG has bagged an export order worth Rs4.0bn from Ezdan Real Estate. (FE)

Bata India to open 60 stores every year to reach out to customers across India. (FE)

National grid to outsource work to TCS. (BS)

Cairn India crude to go for refinery with MRPL. (BS)

JSW energy to tie up funds for 4,800MW. (BS)

Port Pipavav tie ups with Malaysian Shipping Corporation. (BS)

Inflation for week ended September 26 stood at 0.7%. (FE)

GST discussion paper on final structure soon. (FE)

Banks chalk out modalities for 1% subvention on home loans. (FE)

Tyre prices rises by 7% due to strong demand ahead of festive season. (ET)

Per second-billing model will not become mandatory. Operators will be free to offer various tariff plans, including per second-billing scheme, says TRAI. (ET)

The rupee gained 30 paisa to close at 46.36 against the dollar, a fresh 13-month high. (ET)

Planning Commission deputy chairman Montek Singh Ahluwalia says the concessions given to the industry to combat global financial meltdown need to remain till the economy achieves a 7% growth. (ET)