Daily News Roundup - Feb 26 2010

Bharti Airtel may issue fresh shares or divest its holding in telecom infrastructure companies to fund Zain deal. (ET)

DLF plans to build a premium residential apartment complex in the Worli area of Mumbai instead of high-end mall and office project as planned earlier. (BS)

ICICI Bank has raised deposit rates by 25-50bps. (BS)

L&T plans to borrow US$2.2bn this year to fund road building and power projects. (ET)

Nalco has sited diplomatic and financial roadblocks for not being able to make any progress in the Rs100bn greenfield project in Iran. (ET)

Tata Motors announced the completion of a GBP340mn loan from European Investment Bank to JLR. (BS)

Tata Power will start supplying 500MW to Maharashtra from April 1. (BL)

Reliance Capital raised its stake in Fame India by 1.7%. (BS)

Government of Maharashtra has awarded Worli-Haji Ali sea-link project to a consortium led by Reliance Infrastructure. (ET)

Nalco has lined-up Rs500bn capacity expansion programme to be completed in 8-9 years. (FE)

Aurobindo Pharma has received tentative approval from US FDA to manufacture and market its Navirapine tablets for oral suspension. (BL)

Cadila Healthcare will issue bonus share in the ratio 1:2. (BS)

RBI has slashed a fine of Rs2.5mn on Bank of Rajasthan for violating regulations. (BS)

Coal India will invest about Rs25bn to set-up 20 coal washeries. (BL)

Six core industries grew by 9.4% yoy in January 2010. (BS)

Power Tariffs across the country may have to be revised upwards in excess of 7% annually if the Government goes by the recommendation of the 13th Finance Commission. (ET)

Government has invited applications from telecom operators for bidding for 3G and Broadband wireless access spectrum to be auctioned starting April 9. (BL)

Gujarat proposes 5% increase in tax on tobacco products. (BL)