Daily News Roundup - Aug 23 2010

Maruti Suzuki is mulling limiting exports to 15% of its total output to meet requirements within the country. (BS)

TCS opens its fifth delivery centre in China to cater to the Asia-Pacific market. (BS)

ABB opens a wind power generator factory in Vadodara, fourth such plant in India. (BS)



A potential tie-up between Reliance Industries and GAIL India for marketing natural gas has turned out to be a non-starter with the D6 gas allocation going into government hands. (BS)

Bharti Airtel has outbid Idea Cellular, Karbonn Mobile and Micromax to win the sponsorship rights of all international cricket matches to be played in India over the next three years. (ET)

Bharti Airtel and Reliance Communications are ready with their 3G infrastructure and are waiting for the government to release spectrum. (ET)

Zain Kenya, a Bharti Airtel subsidiary, halved tariffs announcing that both prepaid and postpaid subscribers would be able to call across all networks at a flat rate of Kenyan shillings 3/minute. (DNA)

IVRCL Infrastructure and Projects says it plans to raise funds for two subsidiaries - Rs6bn through a QIP for IVRCL Assets and Holdings, and an Rs2.5bn QIP for Hindustan Dorr Oliver, its industrial EPC arm. (FE)

Builders such as the Lokhandwala Group, HDIL and Everest, can now claim tax benefits on their profits. (ET)

BPCL plans to buy equity stakes in Australian shale gas assets from Norwest Energy. (ET)

Elephant Capital, a PE firm led by Dabur group has acquired a minority stake in clinical research firm ClinTec International for £8mn. (ET)

The government plans to invite fresh bids for a controlling stake in telecom equipment maker ITI. (ET)

PNB plans to foray into insurance business. (ET).

Dabur India plans to bring in a strategic investor in its retail venture christened "newu", once it breaks even in the business. (BS)

Golden Tobacco plans to sell 5.5 acres land in Mumbai. (BL)

Aurobindo Pharma has received final approval from the USFDA for its abbreviated new drug Ampicillin. (BL)

The Govt has scrapped NTPC’s 600MW Loharinag Pala hydel power project on financial, environmental and religious grounds. (BS)

Sterlite Energy, part of Vedanta Resources plc, commissioned its first unit of 4 X 600MW Jharsuguda thermal power plant in Orissa. (BS)

Orient Green Power, an associate company of Shriram EPC Group, will make capital investment of over Rs40bn in the next three years to achieve 1,000MW of renewable energy generation capacity. (DNA)

JK Tyres to hike prices by5% from next month. (FE)

HCC Infrastructure, wholly-owned subsidiary of HCC, is entering the business of building and operating airports. (BS)

Tata-Quippo telecom tower joint venture is set to raise up to Rs50bn through a public issue partly to fund expansion and to provide part exit option to some PEs. (ET)

Tata group firm Jaguar Land Rover is understood to have geared up to start assembly of sports utility vehicle Freelander2 from November this year at Chikhli facility in Maharashtra. (ET)

PVR Pictures, is investing over Rs2bn for co-production, acquisition and distribution in the next 18 months. (ET)

The Ministry of Chemicals and Fertilizers has sought the opinion of the law ministry on plans to expand the span of price control to all drugs mentioned in the National List of Essential Medicines. (BS)

Finance Minister has privately conceded that the implementation date of April 2011 for GST would be missed. (BS)

The defence forces have again rejected the demand to release 3G spectrum for CDMA operators thereby ending the possibility of the government carrying out auctions of these airwaves. (ET)

Foreign exchange reserves fell US$4.57bn in the week ended August 13, was the biggest fall in almost 21 months. (BS)

The government plans to issue smart cards to millions of farmers so that they can be given subsidy directly under the Nutrient-Based Subsidy policy. (BS)

In Q1 FY11, fiscal deficit has been brought down to 10.5% of budget estimate for 2010-11 as against 31% in the same period last year. (TOI)

India’s engineering exports jumped about 26% yoy to US$3.2bn in July on the back of revival in the US demand. (BL)

SEBI is planning to make listing of all Mutual Funds schemes mandatory. These will include all debt, equity, open-ended and close-ended schemes. (BS)

Baltic Dry Index jumps 36% in two weeks, had its biggest two-week gain in 14 months. (BS)