Daily News Roundup- May 12 2010

BSNL, Bharti Airtel, Vodafone-Essar, Aircel, MTNL and Idea Cellular might have to fork out over Rs112bn for having spectrum beyond 6.2MHz, if the government accepts the TRAI’s recommendations. (BS)

Fitch Ratings on Tuesday has affirmed the foreign currency issuer default rating (IDR) of 'BB+' and the national long-term rating of ‘AA (Ind)’ of Tata Steel. (FE)

Concerned over the delay in getting clearance from the Centre for its IT SEZ in Chennai, DLF has decided to pull out of the project. (ET)

Alstom Group said that it has expanded its strategic partnership with Infosys Technologies in areas of global R&D, engineering and engineering IT services. (ET)

The Water Technology Business Unit of L&T secured Rs8.5bn contract from the Public Works Authority of Qatar for setting up an advanced waste water treatment and urban reuse plant. (BL)

Godrej Consumer Products is in talks with a clutch of private equity investors to raise US$125mn. (ET)

Dalmia Cement plans to acquire a sugar mill and is in talks with two companies in Karnataka and Andhra Pradesh. (ET)

GMR Energy, a subsidiary of GMR Infra, plans to raise US$100mn from IDFC Private Equity in the next few weeks. (BS)

YES Bank plans to enter the home, personal & education loan and credit cards businesses soon. (BS)

Telecom conglomerate BT may wait for Tech Mahindra to merge with Mahindra Satyam before it offloads a large portion of its stake in the Mumbai headquartered company. (BL)

As part of Ranbaxy Laboratories Daiichi Sankyo’s proposed three-year plan for exploiting synergies, the Japanese company has set up a new firm, Daiichi Sankyo Espha Company (DSECL), for marketing generic drugs in Japan. (ET)

Glenmark Pharmaceuticals said it had settled a patent litigation with Merck & Co over its cholesterol-lowering generic drug 'Ezetimibe', following which it can sell the medicine in the US market. (BS)

Zydus Cadila and Abbott entered into an agreement where the latter will licence 24 branded generics of Zydus products in 15 emerging markets. (BL)

Jubilant Organosys plans to expand its contract research and manufacturing services business by 20% for which it is in talks with global players. (BL)

Trent, a retail chain of Tata Group will raise Rs5bn through a rights issue. (FE)

Srei Venture Capital Ltd, a wholly owned subsidiary of Srei Infrastructure Finance, plans to launch a US$500mn international infrastructure fund. (BS)

Era Infra Engineering bagged an order worth Rs17.2bn from NHAI. (FE)

ABG Shipyard sold 0.8mn shares or 2.15% of equity in Great Offshore for Rs369mn. (FE)

French retailer Carrefour SA plans to open its first wholesale store in New Delhi soon. (BL)

The TRAI recommended that the existing GSM players be asked to pay a one time fee, which will be calculated on a pro-rata basis on the final bid amount received in the ongoing auctions for 3G spectrum, for their 2G spectrum beyond 6.2Mhz. (BL)

The tractor manufacturers in the Delhi region are in trouble due to non-availability of tyres and rising input costs. (BS)

MET expects that the South-West monsoon over Kerala coast may not take place until May 21, but can follow immediately thereafter. (BL)

The Cabinet Secretary is slated to chair a high-level meeting on May 25 to deliberate on implementing recommendations of a Planning Commission-led panel on ways to provide a level playing field for domestic equipment manufacturers. (BL)

RBI has allowed infrastructure finance companies to raise funds through ECBs without obtaining its prior approval. (BL)

The government will soon set up an inter-ministerial task force to rationalise coal sourcing so as to help key consumers in the power, steel and cement sectors optimise transportation costs. (ET)

Public sector companies will not be allowed to use natural resources, such as mineral reserves, at the cost of sustainable development. (ET)

Day 27 of the 3G auctions saw one provisional bid amount for pan-India spectrum at Rs140bn. (FE)