Daily News Roundup - May 27 2010

Reliance Industries-RNRL to present gas supply agreement to government in two weeks. (ET)

Reliance Industries may consider buying minority stake in gas-based power plant of Reliance Power. (ET)

Mahindra & Mahindra buys majority stake in electric car maker Reva. (ET)

Bombay High Court refuses to stay state government order asking Tata Power to supply 360MW to Reliance Infra. (ET)

Reliance Industries has suspended drilling of a well in K-G Basin using a rig hired from Transocean. (BS)

IVRCL bags an order worth Rs5.67bn. (BS)

Shopper Stop is close to buy additional 32% stake in Hyper City for 1.25bn. (BS)

GVK Power and Infra to merge all power units under one sub holding company. (BL)

HPCL plans to set-up Rs300bn refinery on the west coast. (ET)

DLF seeks to revive SEZ in kolkatta. (ET)

Ranbaxy seeks US FDA approval for selling a new drug made in a factory, which is under scrutiny of the US regulator. (ET)

SpiceJet to raise US$75mn for capex. (ET)

Bajaj Electrical plans acquisitions in home appliance space. (ET)

Mukund may sell its Thane land for Rs6bn. (ET)

Telecom companies have raised Rs360bn to pay for 3G spectrum. (ET)

RBI announces measures to overcome short-term liquidity crunch; cuts SLR by 50bps. (ET)

Government announces measures to stream line and speed-up its disinvestment of PSUs. (ET)

Broadband Wireless Access (BWA) auction bids cross Rs100bn on 3rd day. (ET)

Government frees import of radial tyres by removing it from the restricted list. (BL)

Food inflation to come down to 5% till November says planning commission member Abhijit Sen. (ET)

Sugar industry seeks lifting of stock limit on bulk users. (ET)