Daily News Roundup - Apr 9 2010

The Government has approved a follow on offer by SAIL to raise Rs160bn. (ET)

Tata Motors reported that the Land Rover sales in UK rose 67% to 11,300 units in March in UK. (ET)

Grasim Cement is planning to setp up a cement manufacturing facility in Tamil Nadu with an investment of Rs8bn. (BS)

ACC plans to ramp up its production capacity to 30mtpa from 26mtpa by the end of this year. (BS)

IOC has raised Rs13.5bn from sale of oil bonds in secondary markets. (FE)

Essar Energy aims to raise US$2.5bn through a share sale in London. (ET)

GVK Power and Infrastructure is likely to take management control of Bangalore International airport today. (ET)

Aban Offshore has bagged a contract to worth US$159mn from Brunel Shell Petroleum Sendirian Berhad for deployment of one of its rig. (ET)

Cipla has launched a copycat version of Bayers cancer medicine Nexavar at one tenth of price. (ET)

A subsidiary of Sun Pharmaceuticals has received a approval from USFDA to market bupropion hydrochloride anti depressant tablets. (ET)

Aurobindo Pharma has received a approval from USFDA to market venlafaxina hydrochloride anti depressant tablets. (ET)

Emaar MGF may raise Rs35bn through an IPO within 90days. (ET)

Jagran Prakashan is in talks with Midday Multi Media for a strategical alliance which may include a possible stake buy. (BS)

The city civil court in Banglore has directed Britannia to pay pensioners within two months. (BS).

Piramal Healthcare has received a fresh show cause notice from the National Pharmaceutical Pricing Authority for increasing prices of drugs over the allowed 10%. (BS)

IVR Prime Urban Developers has raised Rs630mn from selling land near Pune and Chennai. (BL)

Mr. Ananda Mukerji will step down as MD and CEO of FirstSource Solutions on July 27. (BL)

MphasiS is likely to acquire US based Fortify Infrastructure Services for US$15.5mn. (FE)


The Indian Government is likely to raise more then Rs450bn through sale of 3G and broadband wireless spectrum. (ET)

Government bans FDI in cigarette manufacturing. (BS)

Wholesale food inflation rises to 17.7% for the week ended March 27, 2010. (BS)

India’s Food subsidy bill has crossed Rs720bn in FY10, a 65% jump over previous year. (BS)

Government may allow truck and bus makers to freely import radial tyres. (BL)

Finance Ministry is likely to hand out another cash compensation package to public sector refiners. (BL)

The government has cleared high way construction work of a total cost of more then Rs43.5bn. (FS)