Daily News Roundup - June 17 2010

Reliance Industries plans to build large power plants in India. (BL)

Reliance Capital picks up 18% stake in Bloomberg UTV. (BL)

RCom looks to selling 26% stake in Globalcom. (BL)

NTPC is scouting for coal fields in Australia. (ET)

IOC, HPCL have signed contracts with RIL for KG gas. (ET)

US distributor sues M&M for delay in launching SUV. (BL)

SBI is planning to introduce wealth management services in a phased manner in 2010-2011. (BL)

Cipla to partner Chinese companies to sell Roche, Amgen drug clones. (ET)

Khazanah set to buy Aman Resorts from DLF. (ET)

Punj Lloyd Singapore arm bags Rs13.9bn project. (ET)

Fortis gets time till July 30th to decide on counter offer for Parkway. (BL)

Government plans to divest 10% stake in Neyveli Lignite. (BL)

Essar Oil raises US$115mn from FCCBs to part-finance its expansion plans. (BL)

TCS has won a multi-year outsourcing deal from Telenor Norway. (BL)

Orient Paper will be re-starting its 1mtpa paper plant in Madhya Pradesh. (BL)

Procter and Gamble (P&G) said increase may provide a boost to sales growth in the next fiscal year. (BL)

Suven Life Sciences has secured two products patents from the ‘Japanese Patent Office’. (BL)

Surana Power is planning to set-up two thermal power plants with an outlay of Rs26.4bn in Raichur. (ET)

Adani Group arm starts drilling in Cambay. (BL)

RBI to buyback government bonds upto Rs200bn. (BS)

Telecom companies to invest US$40bn this year to develop 3G, BWA networks. (ET)

Direct Tax Code (DTC) re-thinks on cut in tax exemptions. (BS)

Government allows sugar exports to European nations. (BS)