Daily News Roundup- May 3 2010

Pfizer and Wyeth sue Ranbaxy Laboratories in a US court for infringing the patent rights of Wyeth's drug, Rapamune. (BS)

United Spirits may spin off bottled water biz into separate subsidiary. (BS)

ArcelorMittal is in talks with SAIL for a possible tie-up. (BS)

MindTree outbid TCS, Infosys and Wipro to win Rs300mn contract from India’s Unique Identification Authority. (ET)

IOC plans to expand capacity of its Panipat refinery by 25% to 15mn tones from October. (BS)

L&T won contract worth over US$81.6mn from Abu Dhabi Ports Company. (BS)

Wockhardt has launched a generic version of Flomax in the US, on the first day of patent expiry. (BL)

Maruti Suzuki India reported sales of 93,058 units which marked a 29.7% increase over 71,748 vehicles sold in April 2009. (BL)

SBI extends teaser rate scheme by two months till June 30. (DNA)

The UK-based Gulfsands Petroleum has rejected a £381mn takeover offer made by Oil India and IOC combine. (ET)

GAIL Gas, a wholly owned subsidiary of GAIL (India), is planning to supply piped natural gas and CNG to tier-two cities. (BL)

Dabur India has decided to take a price hike in FY11 in the range of 4-5% on account of rising commodity prices. (DNA)

Ballarpur Industries and West Coast Paper raised product prices by Rs2,500-3,000 per ton. (BS)

NTT Data Corporation emerges as the most aggressive suitor and is in advanced talks with the promoters of Patni Computer to buy their combined 46.5% stake. (BS)

The Hinduja group is set to acquire private banking arm of Belgium's KBL for Rs89bn. (BS)

NMDC plans to start the construction work for its 3mtpa integrated steel plant in Bastar district of Chhattisgarh in October this year. (BS)

NTPC plans to add about 8,000MW generating capacity in the southern region by the end of the 12th Five Year Plan. (BS)

NTPC expects to acquire land for 2 mega projects in 6 months. (BS)

The communications ministry is set to ask Idea Cellular to surrender all six overlapping telecom licences it got following its acquisition of Spice Communications. (ET)

JSW Infrastructure & Logistics plans to invest Rs100bn to develop 5-6 ports in India in the next 10 years. (ET)

Uninor introduces a scheme that gives discounts to customers as they conclude a call, depending on the time and location. (BL)

Spencer's Retail, the retail arm of the RPG Group, plans to add 0.2mn sq ft of space in the current fiscal. (BL)

The Indiabulls group is staking claim for a 250-acre Navi Mumbai plot which it had lost to a consortium comprising Bhushan Steel and the Essel group in January this year. (BS)

Calyx Chemicals and Pharmaceuticals plans to raise Rs1bn via IPO. (BS)

The pan-India bid for 3G spectrum touched Rs95.21bn up 172% from Rs35bn the original base price. (ET)

The government said there was no blanket ban on import of Chinese telecom equipment. (ET)

India’s foreign exchange reserves last week shrank US$600mn to US$613mn in the week ended April 23. (ET)

RBI data shows net credit inflows to the real estate sector at just Rs8.4bn for the 11 months ending February 2010 compared to Rs336bn for same period up to February 2009. (BL)