Daily News Roundup - Dec 1 2009

RIL is relocating a large part of its staff (around 2000) mainly from its human resources and finance departments to Navi Mumbai. (ET)

RIL topples ONGC as largest gas producer in the country. (BS)

Tata Motors may launch Nano Hybrid cars. (BS)

L&T and NPCIL tie-ups for atomic power components. (BS)

HDFC hikes stake in HDFC Bank through warrant conversion. (BS)

SAIL to cut flat steel prices. (DNA)

JSW Group has decided to revive two projects estimated to over Rs20bn together. (ET)

Mahindra Group will restructure its top management by inducting several fresh faces into its key decision-making body. ET)

Essar Oil has extended its exclusive talks to acquire three European refineries of Royal Dutch Shell beyond end of November. (ET)

Glenmark Pharma is planning to repay its debt of around Rs3bn by end of this fiscal. (ET)

European Patent Office has issued three patents to chemical entities of Suven Life Sciences, which are used in treating nerve disorders. (ET)

ACC to use municipal waste to fire its kilns as a substitute for coal. (BL)

M&M and British defence company BAE Systems on Monday singed an agreement to launch a joint venture company to focus on manufacturing land systems for security forces. (ET)

Wockhardt has reached an out-of-court settlement with DBS Bank, putting an end to its legal battle over repayment of loan taken two years ago. (ET)

PE firm New Silk Route has initiated talks with the Ruias-owned Essar Telecom Infrastructure for merger of tower arms. (ET)

Network 18 seeks nod for investing or providing loans worth Rs8bn to four subsidiaries. (BS)

Cairn India has produced and sold a million barrel of oil from its Mangala oil field in Rajasthan. (BS)

NTPC is eyeing to acquire coal blocks in Indonesia in a bid to meet the increasing shortfall in the domestic supply of dry fuel. (BS)

Consolidated Construction Consortium Ltd has bagged an order worth Rs4bn. (BL)

India’s GDP expanded by 7.9% during the July-September second quarter, its fastest pace in a year and a half. (ET)

State run oil firms have cut jet fuel prices by little over 1%. (BS)

STPI exports up 10% to Rs834bn in the first half of current fiscal. (BS)