Daily News Roundup - March 18 2010

NTPC and IOC plan JV to manufacture bio-diesel and special lubricants for the power plant. (ET)

S&P revises its outlook on Tata Motors to positive from negative. (BS)

TCS to hire 30,000 employees in the next fiscal year.

L&T gets Rs10bn order for ONGC well platforms. (BL)

Gail has set a target of transmitting 114.8mscmd of natural gas from domestic sources and through liquefied natural gas during FY11. (ET)

TCS, Wipro and Spanco have been short-listed for Rs1bn project designed to automate the emigration process in India. (BL)

Lupin gets US FDA approval for anti-depressant drug. (ET)

Rcom has tied up with US based Polycom to provide video conferencing services in India. (ET)

Tata Communication to bid in the forthcoming auction of wireless broadband spectrum. (ET)

Government appointed special auditors have given clean chit to Idea Cellular. (ET)

Dalmia Cement to split into four businesses – Sugar, Power, Cement and Refractory. (ET)

Quippo Telecom agrees to buy the telecom infrastructure company owned by Tata Teleservices (Maharashtra). (BL)

Godrej group is scouting for buyout in developing countries to expand operations. (BS)

Birla Power Solution to invest nearly Rs50bn in three years to set-up thermal and solar power plants. (ET)

Venus Remedies is planning to foray into European drug market with innovative generic injectables and cancer drugs. (BS)

Vishal Retail had overstated profit and under reported losses according to its auditors. (BS)

Yash Birla Group to invest Rs55bn in power and lifestyle. (BS)

Lakshmi Mittal in talks to buy strategic stake in unlisted Bhushan Power and Steel. (ET)


Railways hikes iron ore export freight. (BL)

Government to decide on infusing Rs165bn in public sector banks by the end of next month. (BS)

Railways plans to hike freight rates by 10-15% on bulk commodities. (ET)

Government is planning sovereign wealth fund to help PSU oil companies to acquire oil assets abroad. (ET)

Government of Maharashtra has increased VAT by 1% on 94 products. (ET)