Daily News Roundup - Apr 22 2010

TCS has announced a global engineering service partnership with Rolls-Royce. (ET)

L&T Power, a subsidiary of L&T, to ramp up boiler, turbines, generators and balance of plant business from 4,000mw to 6,000mw by 2012. (BL)

Unitech to list demerged infra division by December 2010. (BS)

Videocon Industries may sell its 26% stake in the telecom ventures to foreign investors. (ET)

Glenmark has won a favorable legal verdict in US over a cholesterol drug case with Merck. (ET)

Goldman Sachs fraud case not to hit business says TCS. (ET)

Unitech Infra the demerged arm of Unitech will bid for infrastructure projects in road, power and airports. (ET)

Orient Green Power a subsidiary of Shriram EPC files DRHP for an IPO. (ET)

Zee Entertainment board approves acquisition of INX media’s general entertainment channel 9X. (BS)

Sundaram Finance Group to buy BNP Paribas’s 49.9% stake in their mutual fund JV. (ET)

Aditya Birla Financial Services to launch real estate fund to raise Rs10bn. (ET)


India is expected to grow at 8.75% in CY2010 and 8.5% in CY2011 says IMF. (ET)

RBI may give some banks more time to meet the 70% provision coverage ratio. (ET)

RBI has asked private banks to take its approval for all QIPs and preferential issues. (ET)

RBI tightens loan securitization rules for banks. (ET)

Airport Authority of India plans to levy development fee at non-metro airports. (ET)

Centre wheat purchases are up 13.6% up to April 20th 2010. (ET)

3G spectrum bids are up 90% to Rs663bn on the 10th day of auction. (ET)

Telecom panel to decide on BSNL listing says Telecom minister. (ET)

RBI will relax the 25% ceiling on classifying bonds in the held-to-maturity category if the investment is in infrastructure bonds. (BS)

Bank credits grow by 8.26bn during the fortnight ended April 9th, a 17% yoy growth. (BS)

2010 south-west monsoon is expected to be near normal says the India Meteorological Department. (BL)

NPAs of public sector banks grew by 23% between March-December 2009. (BL)