Daily News Roundup - Dec 11 2009

ONGC is working out a major revamp to create independent subsidiaries to tap the growing market of drilling, construction and logistics services consumed by oil companies. (ET)

Group of global telecom and technology firms comprising, Reliance Globalcom and Bharti Airtel singed an agreement to build and operate a submarine cable system. (ET)

DE Shaw sells 36% in DLF arm to promoters. (ET)

RIL is in talks with IL&FS on Haryana SEZ. (BS)

NTPC to be the official partner for the Commonwealth Games scheduled in the next year. (BS)

Jindal Power Limited, a subsidiary of JSPL, plans to raise Rs100bn in this financial year via IPO. (BS)

Cairn India plans to merge businesses of its group companies with itself. (BL)

RCoM has bagged telecom infrastructure contracts from State Governments of Kerala, Mumbai and Maharashtra circles. (BS)

Pfizer sues Dr Reddy’s Labs over Lipitor patent. (BL)

Ranbaxy expects to launch a generic version of Astellas Pharma’s Flowmax urinary drug in March next year. (BL)

Reliance Infrastructure gets Rs10bn contract from Gujarat government. (BS)

Lupin is looking to acquire a company in the injectibles space in Japan. (ET)

Aventis Pharma has launched a rural market division with 10 products and a sales team of 300 people. (ET)

SREI Infra to raise upto US$200mn through ECBs. (BS)

Bajaj Electricals to raise Rs1.61bn via QIP. (BS)

Nagarjuna Agrichem to invest Rs2.5bn in two years to increase its annual production capacity by 80%. (ET)


Inflation in food articles climbed to 19.05% for the week-ended November 26. (ET)

Petroleum Ministry has sought oil bonds worth ~Rs208bn to partially compensate PSU oil marketing companies for selling cooking fuel below market price in the current fiscal. (BL)

Textile Ministry seeks Rs15bn for the TUF scheme. (ET)

No plan to curb flows of foreign capital, says RBI (ET)

EGoM backs fertilizer subsidy policy. (ET)