Daily News Roundup - June 24 2010

Tata Motors is considering raising Rs25bn via equity or FCCB to trim debt pile. (ET)

RCom may sign a 5-year deal with Africa’s Attijariwafa Bank for managing the bank’s Ethernet services. (BS)

NTPC seeks 30mmscmd more of gas for expansion of gas based power projects. (DNA)



SAIL in talks with Japan’s Kobe Steel for a technological deal. (DNA)

IOC to start processing crude oil produced from Cairn India’s Rajasthan block at its Panipat Refinery. (DNA)

Vivendi SA, Europe’s largest entertainment group denies interest to buy a 26% stake in RCom.(mint)

Shree Renuka Sugars has signed a revised agreement to acquire a majority stake in Brazilian firm, Equipav for Rs11.5bn, 25% lower than price agreed before. (ET)

Patni Computers has denied any plans to sell their stake in the company. (ET)

PNB to pick up 58% partners’ stake in life insurance business. (ET)

ING to sell its entire 3.1% stake in Kotak Mahindra Bank to raise US$173mn. (ET)

Financial Technologies hints at shedding stake in National Spot Exchange (NSEL) to 26%. (ET)

Bank of Rajasthan board to meet today to take forward the process of its merger with ICICI Bank. (BS)

Raymond to exit home retail business. (DNA)

Titan Industries is planning to open 50 Titan Eye Plus stores in the current fiscal. (DNA)

Gitanjali Lifestyle, a retail arm of Gitanjali Gems plans to open up a 100 watch stores in next three years. (BS)

Emami has bought a manufacturing unit in Egypt for Rs120mn to manufacture all its personal care products and distribute them in West Asia and Africa. (BS)

Essar Shipping is planning to raise US$250mn via FCCB issue. (DNA)

Birla Corp to invest Rs24bn to boost its total cement capacity to 13mtpa. (DNA)

The empowered group of ministers is expected to clear the proposal of a revision in petro goods prices at its meeting scheduled on 25th June. (ET)

Interest rate may go up any time says Pronab Sen, Chief Statistician of India. (ET)