Daily News Roundup - May 6 2010

ICICI Bank, others in talks to buy-out Tayals stake in Bank of Rajasthan. (ET)

SAIL is planning to set-up a power plant and another greenfield steel mill in eastern India. (FE)

Bharti Airtel has entered into a partnership with cloud computing service provider Novatiun to expand its broadband business in India. (ET)

JSPL’s bid for Ziscosteel has been rejected. (BS)

Maharashtra governments’ cabinet sub-committee to meet today to resolve the Tata Power-Reliance Infra row over supplying electricity in Mumbai. (ET)

Government to sell stake in 10 more PSU this year including IOC, MMTC, Coal India, SAIL, RINL and SCI. (ET)

HCL Tech has entered into a pact with Stellar Asia Pacific to offer business services to clients in Australia. (ET)

Bajaj Finserv to launch a wealth management business for retail customers in Q2 FY11. (BS)

JSW Steel hikes prices of HR and CR coils by 1.5%. (FE)

The Patni brothers are likely to sell a large chunk of their shares to Japanese systems integrator NTT Data. (ET)

Yes Bank to tap SMEs for inclusive growth. (FE)

Orchid Chemical has signed an outlicensing distribution deal with US based Alvogen for marketing its 8 oral non-antibiotic formulation in US. (BS)

Kirlosker Brother has bought 90% stake in South Africa based Braybar pumps for Rs110mn. (BS)

3i Infotech to shift focus on IT solutions and Transaction Services business. (FE)

Kalpataru Power raises Rs4.5bn through a QIP issue. (BS)

Gayatri Projects has secured a road project worth Rs22bn from Andhra Pradesh government. (BS)

Ansal Properties to invest Rs15bn over the next three years on housing projects in Haryana. (BS)

Jagran Prakashan to buy Mid-day Multimedia for Rs2bn in an all stock transaction. (ET)

Shoppers Stop has lined up a capex of Rs1.25bn to open 12 stores in the current fiscal. (ET)

Piramal Healthcare has closed down its laboratory in Delhi and laid-off about 60 people. (ET)

Finance Ministry has decided to pay Rs140bn to state-owned OMCs as part compensation for selling kerosene and cooking gas below cost in FY10. (ET)

Growth in non-food credit for the fortnight ending April 23rd stood higher at 17.5%. (FE)

The annual ECB cap has been raised to US$40bn for FY11 from US$35bn in FY10. (ET)

Government to ease stock holding limit for large sugar consumers from May 20. (BS)