Daily News Roundup - May 7 2010

The proposed joint venture between SAIL and POSCO is likely to be finalised by the month-end. (BL)

The Supreme Court to give its verdict on the gas supply and pricing dispute between Reliance Industries and RNRL today. (BL)

Maharashtra government to ask Tata Power to supply electricity to Reliance Infra till July 1. (ET)

Wipro is looking increase the authorized share capital of the company by creating additional equity shares. (BS)

ONGC Videsh and its partners will next week sign contracts for developing a giant oilfield in Venezuela. (BS)

HCC completed the acquisition of a 66% stake in Swiss construction firm Karl Steiner AG. (ET)

Tata Communications enters into partnership with Infinity Africa, expanding its services in Tanzania. (BS)

Glenmark's US unit enters into an exclusive license and supply agreement for a branded product with the US arm of Taro Pharmaceuticals. (BL)

Lanco Solar, the SPV of Lanco Infratech plans for a polysilicon and solar wafer manufacturing base in Ramdaspur village, near Cuttack District. (BL)

Moser Baer to raise Rs4bn debt for expanding solar power. (BS)

Aurobindo Pharma received approval for its abbreviated new drug Cyclobenzaprine tablets from the Canadian regulator, Health Canada. (BL)

Coal India expects to seal deals worth US$1.7bn with foreign firms this month for mining coal abroad.

EIH Ltd plans to buy out its joint venture partner for the global businesses for US$45mn. (BL)

Nagarjuna Agrichem plans to invest Rs3.5bn to set up an 8,000 ton greenfield manufacturing facility at the Visakhapatnam SEZ. (BL)

Ingersoll Rand plans to invest about US$100mn by 2013 to expand research activity and manufacturing capacity in India. (ET)

Ajmera Realty would acquire 36% stake in company Ultra Tech Property Developers Pvt Ltd. (BS)

ICI India plans to set up a new production facility "either in Tamil Nadu or Karnataka" to manufacture 70mn litres of decorative paints a year. (FE)

FY10 exports slip 4.7% to US$176.5bn. (BS)

Food inflation moderated further to 16.04% for the week ended April 24, (BS)