Daily News Roundup - Apr 29 2010

RIL has made a fourth oil discovery in the Cambay basin in Gujarat. (BS)

AT&T has sold 7% stake in Tech Mahindra for Rs6.6bn; LIC buys 6%. (BS)

Tata Group and Actis to form US$2bn JV for building roads over 5 years. (ET)

NTPC to invest Rs400bn in three coal base power project in Madhya Pradesh. (ET)

NTPC and Coal India enters into a JV for coal block acquisitions. (BL)

Royal Dutch Shell is no longer in exclusive talks with Essar Oil for sale of its refineries in UK and Germany. (ET)

Suzlon’s European division forms JV with Volkswind to accelerate growth in Bulgaria. (ET)

Punj Lloyd bags an order for the Cuddalore refinery of Nagarjuna Oil. (ET)

US investment fund Bravia Capital Partners has proposed to invest US$40mn into SpiceJet. (ET)

Suven Lifescience granted patents in India and New Zealand. (BL)

Tata Africa will soon start vehicle assembly plant in Nigeria in the next 2-3 years. (ET)

Sebi has decided against filing a joint application before a court to resolve its dispute with Irda over Ulips. (BS)

Infrastructure companies may soon be able to re-finance part of domestic debt through borrowing overseas. (ET)

Government mulls 100% FDI in defence. (BS)

All India 3G bid has reached Rs89.14bn at the end of 16th day of auction. (ET)

Mines Ministry seeks windfall tax to curb illegal iron-ore mining. (BS)

India’s sugar production is likely to rise by 28% to 22.7mn tons in 2010-11 according to US Department of Agriculture. (BS)

Tobacco exports grew 29% yoy to Rs43.7bn in FY10. (BS)

IT spending in India is likely to grow by 14% to Rs67bn in 2010 says Gartner. (ET)

Food inflation to decline in coming months says FM. (ET)

CERC raise overdrawal charges to 12.25/unit. (ET)