Daily News Roundup - Jan 13 2010

Infosys plans to hire 4,000 more people than the originally planned 20,000 for the year ending March 2010. (BL)

Indian Oil Corporation will raise capacity of its Haldia refinery by 25% to 7.5 million tons in one month. (ET)

Maruti Suzuki launched Eeco, a multipurpose vehicle in Ahmedabad. (BS)

State Bank of India plans to expedite branch expansion and recruitment as it eyes an annual 25% growth in the next few years. (BL)

Dabur has tied up with a Belgium firm for technical collaboration to reduce carbon emissions in its plants and has invested Rs50mn for the purpose. (ET)

Jet Airways reported 53% and 28% growth in domestic and international passenger traffic respectively for December 2009 over the corresponding period last year. (FE)

Dena Bank plans to raise Rs13bn capital over the next three years, of which Rs6bn will be raised by March. (FE)

Punj Lloyd bagged an order worth Rs9.5bn from Orissa-based Ind-Barath Energy (Utkal) Ltd for construction and civil works at Ind-Barath Energy thermal project at Jharsuguda, Orissa. (BL)

The Videocon Group, which is to invest Rs16bn in an electronic products manufacturing facility in Tamil Nadu, is also considering a solar power project. (BL)

Power Grid plans a follow-on public issue of shares in the July-September quarter. (BL)

Shoppers Stop plans to raise up to Rs3.5bn through QIP route by March 2011 to fuel expansion and hike stake in Hypercity. (ET)

HCL Technologies is in talks to acquire Australia-based retail software solutions firm OLR for an undisclosed sum. (BS)

Adhunik Group of Industries has initiated talks to acquire 50% stake in an Australian coking coal mine for US$100mn. (ET)

Moser Baer plans to raise US$100mn by various fund raising routes, from national and international markets. (ET)

Foreign lenders led by US hedge fund QVT - that own overseas bonds worth US$66mn in Wockhardt - have proposed a plan that would give them about 26% stake in the troubled pharmaceutical company. (ET)

Suven Life Sciences has received patents in China and Russia for its two new chemical entities, used in the treatment of diseases like parkinson and schizophrenia. (ET)

Bharat Forge board approved an issue of securities including equity shares and nonconvertible debentures with warrants upto US$150mn through any permissible route, including via a QIP. (FE)

India’s IIP grew 11.7%, to a two-year high in November 2009, was aided by government stimulus measures and a low base effect. (BS)

The government has offered Rs5bn stimulus to select exports to give much-needed boost to the dwindling sector and sustain positive growth. (BS)

Delays in award of government projects and no capital expansion in the manufacturing sector led to 42% sequential decline in India Inc’s order inflows during the December quarter and by a marginal 1.5% yoy. (BS)

The Tamil Nadu government is allocating 125 acres of land near Sriperumbudur to the Chennai Port Trust for setting up a dry port and multimodal logistics hub. (BS)

CERC has exempted long-term agreements from trading margin in order to facilitate innovative products and contracts for new capacity addition that involve higher risk in transactions. (BS)

The Orissa government has put three Independent Power Producers under scanner for poor progress in setting up of projects in the state. (BS)

APGenco is poised to add about 1,210MW of additional capacity at its coal-based generating stations at Kothagudem, Rayalaseema and Bhupalapally thermal power stations by December this year. (BL)

The nine member EGoM decided that four slots of 3G airwaves will be auctioned to private telecom operators if the communications ministry can solve the interference issues between the airwaves or radio frequencies held by BSNL/MTNL and the armed forces. (ET)