Daily News Roundup - Dec 16 2009

Hindustan Unilever has signed a trademark licence agreement with Unilever, under which it will pay one per cent of net sales on specific brands as royalty to its UK-based parent. (FE)

German drugmaker Boehringer Ingelheim has started discussions with Cipla for a supplying drug worth upto US$17bn. (ET)

US drug major Hospira will buy the injectable pharmaceuticals business of Orchid Chemicals for US$400mn. (BS)

Sun Pharma gets boost in Taro battle as second-largest shareholder Templeton seeks management change, to vote against directors. (BS)

M&M has forayed into the aerospace business by acquiring majority stakes in two Australian companies, Aerostaff Australia and Gippsland Aeronautics. (BS)

Comptroller & Auditor General would audit the product sharing contracts (PSC) of RIL’s D6 gas block in the Krishna-Godavari basin for 2006-07 and 2007-08. (BS)

RIL’s efforts to buy a controlling stake LyondellBasell has got a bit complicated, as the company has submitted a new reorganisation plan to a court in the US. (ET)

Renuka Sugars may buy stake in Balrampur Chini. (BS)

BHEL is planning to acquire Hungary-based boiler maker TGR to establish a manufacturing facility in Europe. (FE)

Kotak Investment Banking, a subsidiary of Kotak Mahindra Bank, has entered into an exclusive alliance with Renaissance Capital, Russia’s biggest home-grown investment bank. (BS)

Tata Steel Europe (Corus) plans to invest €35mn at its rail production facility in Hayange, France to produce longer rails. (BL)

IVRCL to co-develop IOC's Paradip refinery through a SPV. (BL)

BSNL has started wireless broadband services and also announced a tariff starting with Rs140 per month for rural areas. (FE)

Powergrid Corporation to come up with its FPO for Rs20bn by March 2010. (ET)

Infosys has set up a wholly-owned subsidiary in Brazil. (ET)

Kingfisher Airlines to start air service between Nepal and India. (FE)

DLF has acquired Caraf Builders & Constructions, which owns DLF Assets Private (DAL), from promoter KP Singh’s family. DLF’s whollyowned subsidiary DLF Cyber City will acquire Caraf in a cashless transaction. After the transaction, the promoter stake in Cyber City will be 40%, while DLF’s stake will come down to 60%. (ET)

Coal India is not willing to hand over any coking coal mines to SAIL and Tata Steel, but may explore opportunities to jointly develop such mines with the steel behemoths seeking to secure coking coal supplies. (FE)

Bharti Airtel is entering the teleport business, as it aims to expand its footprint in the media space. (ET)

Dhanalakshmi Bank is likely to entire a deal to acquire a medium-size existing asset management company. (ET)

After falling continuously for 13 months, the country’s merchandise exports registered a growth of 18% in November, at US$13.2bn against US$11.16bn in the same month last year. (BS)

Corporates shell out 36% more as advance tax in Q3 FY10. (BL)

The government has approved revival of 36 sick central public sector enterprises that will require Rs29bn of cash infusion, besides Rs123bn of other assistance. (ET)

ATASK force on GST set up by the Thirteenth Finance Commission has recommended the tax on all goods and services be dropped to 5% at the Centre and 7% at the state level, and that all exemptions be scrapped. (ET)

The traffic earnings of Indian Railways went up by almost 18% in November against the corresponding period last fiscal. (BL)