Daily News Roundup - Aug 27 2010

Tata Motors is looking at raising up to US$1bn to fund its various expansion programmes. (FE)

L&T plans to launch a bank to gain access to cheap funds and scale up its presence in infrastructure financing. (ET)



Tata Power is in talks to buy a 50% stake in the power utility InterGen NV. (ET)

NTPC will now offer gas producers stakes in its power projects to ensure long term fuel supply (ET)

M&M is one of the contenders for Scooters India JV. (FE)

GAIL is planning to put up a gas-based power plant each in Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh. (BS)

M&M would set up an assembly line at its Chakan plant for making Ssangyong sport utility vehicles (SUVs). (BS)

Maruti has put in place an innovative programme by which it is increasing the production capacity of its four plants located in Gurgaon and Manesar by 20 per cent. (BS)

Sun Pharma which approached the high court last week to be heard before any settlement was allowed between Wockhardt and its creditors on FCCB dues, demands the original FCCB terms be honoured. (BS)

Oil India said it was eying overseas shale gas assets in a possible consortium with Indian Oil Corporation and GAIL India. (BS)

NMDC, the country’s largest iron ore mining firm, is seeking foreign partners for its proposed steel plant in Karnataka. (BS)

ONGC has discovered oil in a block on the western onshore basin. (BS)

The US Eximbank has sanctioned US$917mn in loan guarantee towards equipment for Reliance Power’s project in Madhya Pradesh, India. (FE)

Marico stated its plans to increase rates of select products by 3-4%. (FE)

Tulip Telecom has appointed Mr.Sanjay Jain as its new CEO. (ET)

Jet Airways is looking for equity dilution of up to 20 per cent. (BS)

Indian Bank eyes 35% growth in SME lending. (BS)

The Cabinet has approved Direct Taxes Code (DTC) Bill. (FE)

The food price reduced marginally to 10.05% in the week ended August 14 as against 10.35% in the previous week. (ET)

The Union Government plans to reach out to the domestic chambers and business lobbies which are apprehensive about the amendments in Civil Nuclear Liability Bill cleared in the Lok Sabha. (BS)

SEZ to get tax relief under The Direct Tax Code Bill. (BS)

Bank gross NPAs to touch 3.5% by March 2011, as per CARE.. (BS)