Daily News Roundup - July 6 2010

M&M plans to set up a 250-acre special economic zone catering to the aerospace sector near the Bangalore International Airport (ET)

TCS, Wipro and QuEST, in addition to Mahindra Aerospace and L&T, are among the vendors currently in discussions with the National Aerospace Laboratories for providing software, designing and manufacturing around 500 regional transport aircraft. (ET)



Fortis Healthcare Holdings Ltd, the promoter company with a majority stake in Fortis Healthcare Ltd, has revoked 39.17mn pledged shares, bringing down the percentage of pledged stake in the company to 31%.(BS)

Orchid Chemicals has received tentative approval from the US Food and Drug Administration for Gemifloxacin mesylate tablets in the 320 mg strength. (ET)

Reliance Industries daily crude oil imports fell about 23% in May due to a planned shutdown of a secondary unit. (FE)

Indian Bank has raised Rs5bn through bond issuance. (FE)

Communications Minister A Raja has proposed free spectrum for BSNL and MTNL. (BS)

JSW Energy (Bengal) Limited will commission 1,600MW of power at Salboni in West Bengal by September 2014. (BS)

Network18 Media & Investments Ltd plans to simplify its corporate structure and cut the number of cross-holdings in the group. (BS)

Essar Energy is close at buying Navbharat’s power project in Orissa for ~Rs2bn. (ET)

Havells to relaunch its 'Sylvania' brand in India.

TDSAT has reserved its order on a plea by GSM operators against the recent hike in the spectrum usage charges by DoT. (ET)

The agriculture minister has proposed to approach government towards decontrolling the sugar industry. (ET)

The Government has proposed to launch an urban employment guarantee scheme on the lines of NREGA and give statutory sanctions to minimum wages (ET)

The capital employed numbers provided by 661 companies for the year ended March 2010, show an increase of 12% or Rs1,362bn over the year. (BS)

The Finance Ministry expects the headline inflation, measured by the wholesale price index, to climb down to 6% by December, lower than the 10.16% level seen in May. (BL)

The Government plans to expand the basket of subsidised food items supplied to the poor by adding edible oil, sugar and pulses to wheat and rice provided currently. (ET)