Daily News Roundup - Apr 23 2010

NTPC is likely to sign contracts next week to buy additional 1.51mn cubic meters a day of gas from RIL at the Government approved price. (ET)

SBI mulls issue of bonds to institutional and retail investors for raising funds which would be redeemed by the Government on maturity. (FE)

Atlas Energy Inc along with Reliance Industries plans to buy 42,344 acres in the gas-rich Marcellus shale. (BS)

ICICI Bank has cut home loan rates by bringing back its old teaser home loan rate product till the end of the month. (ET)

TCS sets sights on onsite work again with the return of discretionary technology spending. (FE)

L&T plans to realign its electrical and electronics business division with its wholly-owned subsidiary in power equipment manufacturing, L&T Power. (BS)

ArcelorMittal has proposed a JV with SAIL to set-up integrated steel plant near latter’s existing facility in Bokaro, Jharkhand. (ET)

The Madhya Pradesh government has said that the Sasan UMPP, being constructed by Reliance Power, is facing delay due to environment related issues. (BS)

M&M slashes Logan prices by up to Rs80,000. (ET)

TCS may soon deploy its core banking solution at Deutsche Bank's global locations as part of a deal valued at over US$100mn. (BL)

GAIL may move to PNGRB to seek an upward revision in tariffs determined by the regulator for its existing HVJ-GREP-DVPL pipeline. (FE)

Bharat Forge launches US$150mn QIP issue. (ET)

Essar Energy, the holding company of Essar Oil, has been valued at US$9.5-11bn as it has priced its IPO on London Stock Exchange at 450-550 pence a share. (BS)

Jet Airways to offer business class seats at budget prices on select routes. (ET)

Bharat Forge, in the process of restructuring the operations of its overseas subsidiaries, has transferred the operations and assets of Bharat Forge Scottish Stampings Ltd to Bharat Forge Kilsta AB of Sweden, a wholly-owned subsidiary. (BL)

Gujarat Gas Company has received an allocation of 0.6mmscmd of KG D6 gas from the Government of India on a fallback basis. (BS)

Bajaj Hindusthan will invest about Rs150bn in setting up power projects totaling 2,430 Mw in Uttar Pradesh. (BS)

Aurobindo Pharma, which has targeted to cross Rs100bn in revenues by 2013, proposes to invest Rs2.5bn every year for the next five years. (BS)

Piramal Healthcare has acquired Bharat Serums And Vaccines (BSV) Ltd's injectible anaesthetic products business. (BL)

Ansal API is returning to Gurgaon after nearly seven years, with a Rs10bn township project planned in Sector 67. (BS)

India to become the largest DTH market by 2012, as per study by research firm Media Partners Asia. (BS)

The steel companies have assured the ministry that they will not increase prices by more than 5% over the next 5-6 months. (ET)

Food inflation for the second week of April rose to 17.65%. (ET)

The life insurance industry recorded 68% increase to Rs254bn in new business premium collected in March 2010 compared to Rs151bn in the corresponding month in 2009. (BS)

India’s iron ore exports fell for a third straight month in February, despite robust demand from main buyer China, as a government crackdown on illegal mining hit supplies. (BS)

In a move designed to curb iron ore exports, the Government is set to increase the tax on iron ore exports. (BL)