Daily News Roundup - Apr 1 2010

Reliance Power plans to re-finance Rs150bn loan. (ET)

L&T has bagged an order of Rs5.6bn from Cognizant Technolgies to construct its IT campus development project in Chennai. (BL)

Videocon, Elcoteq call off stake sale negotiations. (ET)

Ericsson wins a US$1.3bn deal from Bharti Airtel. (BL)

L&T bags order worth Rs11.26bn. (BL)

GAIL to invest Rs60bn on 1,000km pipelines in FY11. (ET)

Sun TV promoter Maran is talking to hedge fund Wilbur Ross to buy its entire 30% stake in SpiceJet. (BS)

India has offered Kuwait stakes in ONGC and IOC plants. (BS)

GMR Infra may tie-up funds for its Rs21.9bn Hyderabad-Vijaywada highway project. (ET)

Indraprastha Gas to borrow debt of Rs10bn for expansion. (BS)

Nirma to merge Nirma Consumer Care with itself. (BS)

Essar Group to decide on buying refineries from Shell by June 2010. (BS)

Areva T&D bags order worth Rs700mn from BHEL. (BL)

Kalpataru Power Transmission subsidiary JMC projects in consortium with SREI Infra, has won a contract from NHAI. (BL)

Hindustan Dorr-Oliver bags orders worth Rs2.68bn. (BL)

Purvankara Projects ties up with Mexico’s Homex for projects in affordable entry level housing segment. (BL)

IRB Infra ties up with several banks to funds its projects. (BL)

Aditya Birla Retail has closed 39 stores including 2/3rd of its outlets in Gujarat. (ET)

Direct tax collections are set to fall short by Rs300bn of the revised target in FY10. (ET)

India’s net earnings from trade in services are headed for a first fall in nine years. (ET)

Himachal Pradesh and Uttarakhand lose tax-haven status. (ET)

February export rose 34% yoy, clocking gains for the four straight month. (ET)

FDI up 15% yoy in February to US$1.72bn. (ET)

Banks get two more years to meet IFRS norms. (ET)

Service tax levy on railway freight deferred to July 1st 2010. (BL)