Daily News Roundup - July 30 2010

DLF may raise Rs25bn via sale of non-core assets. (BS)

Sun Pharma wins over Eli Lily in a patent litigation over Gemzar, a drug used in cancer treatment, with a US federal court ruling in its favour. (BS)



PNB to decide on raising deposit rates in the upcoming asset-liability committee (ALCO) meet scheduled for July 31. (BS)

Axis Bank is likely to raise deposit rates shortly. (BS)

The Cleantech division of M&M Group plans to install 50MW of solar power generation capacity across five states at an outlay of Rs7.5bn. (BL)

JSW Steel plans to begin construction of its 10mtpa steel plant at Salboni in West Bengal before end of this fiscal. (BL)

Dabur plans to raise Rs20bn for buyouts. (BS)

Ashok Leyland is planning to invest around Rs20bn over the next two years, both in its existing plants and in joint ventures. (BS)

DLF may withdraw from the much-hyped affordable housing. (ET)

PFC gets status of infrastructure finance company. (BS)

IDBI Bank to raise US$500mn from overseas bonds. (BS)

The US-based mobile chip maker Qualcomm is all set to sell 26% stake in its new broadband venture to two Indian companies – GTL Infra and Tulip Telecom. (BS)

The Finance Minister has rejected a proposal by the Communications Minister for refund of the Rs296bn paid by state-owned BSNL and MTNL for 3G and BWA spectrum. (BS)

Ashok Leyland announced that it would acquire a 26% stake in Optare plc, a UK-headquartered bus manufacturer, for US$7.5mn. (BL)

Lanco Infratech announced that it has bagged a contract from Maharashtra State Power Generation for Balance of Plant package for three new units of 660 MW. (BL)

GSPC is learnt to have found ~20-22tn cubic feet natural gas reserve, probably the biggest onshore gas find to date (ET)

Essar Oil, Australia's Arrow Energy and Great Eastern Energy will invest $158mn in 7 coal bed methane blocks (ET)

Apollo Tyres is investing Euro6.6mn in a unit in the Netherlands to enhance plant capacity to 6mn tyres a year from 5.1mn tyres (ET)

HCL Infosystems has bagged a Rs400mn order to digitise the data generated from the Census of India project. (BL)

Essar Oil is looking at the retail fuel assets BP had put for sale in five-six African countries. (BS)

Allahabad Bank has announced 25-125 basis points hike in domestic term deposit rates in different time buckets. (BL)

KEC International bids for US-based SAE Towers. (BS)

SBI Macquarie Infrastructure Fund is buying a 12% stake in Adhunik Metalik’s power subsidiary for Rs1.25bn. (ET)

Elecon Engineering has successfully built India's highest rating windmill gearbox for onshore windmills having a capacity of 2 MW. (BL)

Berger Paints is looking at a possible acquisition of a specialty decorative paint maker in South Asia. (BS)

Wholesale food inflation fell sharply to 9.67% for the week ended July 17, primarily on account of high base effect. (BS)

The Revenue Department has notified imposition of definitive anti-dumping duty on imported Viscose Staple Fibre (VSF) excluding bamboo fibre from China and Indonesia. (BL)

India has slipped to 5th position in global steel production with a 32.5mn tone output in the first half of this year (ET)