Daily News Roundup - Dec 31 2009

NTPC is set to get nod from government to sell 10% of its power capacity at market determined prices. (ET)

Infosys to invest Rs3bn in Orissa project. (BL)

TCS to step up hiring as info-tech spending takes off. (BL)

DLF is taking up a major restructuring exercise that can see the company splitting into five verticals. (FE)

M&M to launch 1 ton LCV Maximo on January 5. (BS)

JSPL may raise offer for Australia’s Rocklands Richfield. (BS)

Bharti Airtel to enter wi-fi space by rolling ‘hotspots’ at several locations across the country. (ET)

The National Housing Bank is likely to give HDFC two more years to comply with capital market exposure norms. (BS)

HCL Infosystems has bagged Rs1bn radio network contract in partnership with Motorola from Delhi Government. (ET)

LIC has raised its equity holding in Canara Bank to 7.08%. (ET)

JSL plans to expand its stainless steel capacity to 2.5mtpa by 2014. (ET)

BSNL puts mega tender plan for 93mn lines on hold. (ET)

Nalco has decided to locate its proposed 0.5mn ton Indonesian aluminum smelter project in east Kalimantan province. (BL)

Godrej Consumer Products is aggressively looking at acquisition including the house-hold insecticide business of Sara Lee Corp. (BS)

HCC has bagged an order worth Rs3.75bn for construction related works in Karnataka. (BS)

Panacea Biotech plans a buyback up to Rs1.05bn. (BS)

Cox & Kings acquires Australian travel firm MyPlanet Australia Pty Ltd and Bentors International Pty Ltd. (ET)

Hotel Leelaventures has bought back FCCBs worth US$25mn. (BS)

Diageo-Radico JV has received government approval for increasing foreign equity participation to 100%. (FE)

State Bank of Mysore to raise Rs6bn from rights issue. (BL)

United Bank of India has filed a DRHP for an IPO to raise Rs500mn. (BS)

Zylog to usher in low cost computing and has partnered with IBM and Canonical Ubuntu. (BL)

Foursoft has bagged a contract from a Canadian based Sheritt International Corporation for a logistic management system. (BS)

Credit growth back in double digits, growing at 10.8% yoy for the fortnight ended November 23, 2009. (BS)

Kelkar led commission proposes hike in state’s share of tax revenues. (ET)

Banks reject RBI’s move to dump BPLR based norms. (ET)

Life Insurance Companies business grew 22% in first eight months of the current fiscal. (ET)

Bank lending in December has jumped nearly five-folds over the previous month. (ET)

Iron ore exports to slide by 6mn tons on duty hike. (ET)

Time not right to exit stimulus measures, says FM. (ET)

RBI has sought details from banks about their investments in mutual funds. (ET)

The government has cleared 9 FDI proposals worth Rs5.2bn. (BS)

Ban on sugar futures trade extended till September 2010. (BS)

3G spectrum auction likely from February 13. (BL)

Banks want CRR and SLR exemption for infrastructure bonds. (BL)