Daily News Roundup - March 12 2010

Bharti Airtel made its debut into media and entertainment services with the launch of the Airtel Digital Media Business. (BL)

Fortis Healthcare Ltd acquired 23.9% strategic stake in Singapore-based healthcare service provider, Parkway Holdings Ltd for about US$685.3mn. (BL)

Bank of India has increased interest rates on big-ticket (wholesale and bulk) deposits by 75-150 basis points across various maturities (BL)

Maruti Suzuki would export at least 35,000 units of the A-Star compact car to Nissan in Europe in FY11. (BL)

Ashok Leyland plans to import radial CV tyres and has sought a licence from the Government. (BL)

Hero Honda would finalise the location to set up its fourth manufacturing facility by September 2010. (BL)

TVS plans engine making unit in Karnataka. (BS)

CESC intends on adding 5,000 MW of thermal generation capacity over the next few years, with investments in the range of Rs 200bn, by establishing five new facilities. (BS)

Bosch is expected to declare a lockout at its flagship plant in Bangalore on March 15. (BL)

Mahindra Satyam has won a US$48mn contract from KMD, an IT major from Denmark that specialises in the public sector projects. (BL)

ICSA India has received work orders worth Rs1.3bn from Powergrid Corporation of India, taking the total order book size to Rs21.3bn. (BL)

Areva T&D India has bagged a contract worth Rs4bn from Uttar Pradesh Power Transmission Corporation Ltd for building a substation. (BL)

Anglo-Swedish major AstraZeneca has tied up with Torrent Pharmaceuticals to brand and supply a basket of Torrent's non-patent medicine in emerging markets. (BL)

IVR Prime Urban Developers raised Rs1.5bn through issue of secured redeemable Non-Convertible Debentures (NCDs) on private placement. (BL)


The rate of food inflation showed some signs of moderation, sliding to 17.81% for the week ended February 27, 2010. (BS)

Cement industry registers 6.34% growth in dispatches during February. (BS)

According to UN Industrial Development Organisation (UNIDO), India has entered into the league of top-10 industrial producers for 2009. (BL)

Public and private sector banks have raised Rs330bn through issue of capital bonds so far this fiscal year. (BL)