Daily News Roundup - Nov 6 2009

Wipro’s subsidiary, Wipro Consumer Care & Lighting, has acquired the rights of premium brand Yardley across several regions for US$45.5mn. (ET)

Axis Bank has cut first-year home loan rates to 8% and has also extended maturity of loans to 25 years. (ET)

IOC has proposed to double its investment on R&D. (FE)

M&M and US-based Navistar JV to start its production at Chakan plant from this month-end. (FE)

Jindal Steel to compete with Chinese firms for a stake in Australian coal explorer Rocklands. (FE)

GVK Power picks up 12% stake in Bangalore International Airport for Rs4.8bn. (ET)

Patni Computers promoters to take a call on stake sale in January 2010. (BS)

M&M to launch motorcycle next year. (BS)

Government shortlists three advisors for IFCI stake sale. (FE)

TTML to increase its capex in the fourth quarter from Rs10bn earlier planned. (FE)

Kajaria Ceramics has entered into a pact with GAIL India to shift from propane as a fuel for its Rajasthan unit to LNG. (BS)

Maytas Infra has bagged an order worth Rs7.9bn. (ET)

Prime minister approves a plan to sell shares in PSUs which may help government to raise Rs600bn. (ET)

TRAI mulls fixing SMS termination charge. (BS)

Government targets fiscal deficit at 5.5% in FY11. (ET)

Primary articles inflation rose to 8.94% and food inflation inched-up to 13.4% for the week-ended October 24th. (ET)

Centre to consider a proposal to allow foreign airlines to pick up 49% equity in Indian carriers. (FE)

Government may tweak SEZ rules after Navi Mumbai plea. (ET)

Government has announced an increase in procurement price of wheat, barley, gram and safflower. (ET)

Direct tax collection up 6% yoy in October 2009. (BL)

SEZ exports have doubled yoy in the period April-September 2009 to Rs890bn. (BS)

CERC has taken a slew of initiatives to promote renewable energy in India. (FE)

Gujarat is likely to get 2nd UMPP from the centre. (FE)