Daily News Roundup - Sep 14 2010

Tata Teleservices crossed the 75mn subscriber milestone to become the fourth largest telecom operator in the country. (BS)

Suzlon Energy plans a research and development centre and listing its Chinese subsidiary, Suzlon Energy (Tianjin) Ltd, on the Hong Kong Stock Exchange, in a few years. (BS)

Kalpataru Power Transmission has secured three orders worth over Rs5.5bn from the Kenya Electricity Transmission Company and Parbati Koldam Transmission Company. (ET)

The Supreme Court adjourned the hearing on the Sasan coal dispute between Tata Power Company and Reliance Power to November 8, after Attorney General G E Vahanvati submitted that Tata Power had filed an affidavit containing wrong statements. (BS)



HDIL to raise ~US$250mn through sale of share to qualified institutional investors. (ET)

Kingfisher Airlines has been able to save over Rs1bn by replacing expat pilots with Indians while the total non-fuel cost reduction for the airline has been as high as Rs5.3bn. (BL)

GlaxoSmithKline Consumer Healthcare to invest over Rs3bn on repositioning original milk food drink Horlicks. (ET)

Omaxe Ltd’s subsidiary has won a contract worth Rs1.3bn from the Defence Ministry to develop a housing project in Jammu & Kashmir. (ET)

ARSS Infrastructure has bagged an order worth Rs937mn from the Rajasthan government for construction-related work. (ET)

Den Networks proposes to raise capital up to Rs7.5bn over the next 3-6 months for strengthening its operations and digitisation of services. (ET)

Moser Baer to launch pre-loaded Bollywood movies on pen drives to increase market share. (ET)

Edserv Softsystems has raised Rs610mn via QIP route. (ET)

Ajay Piramal is now planning to exit his real estate private equity and asset management company, Indiareit Fund Advisors (Pvt) Ltd. (BS)

Johnson & Johnson (J&J) has doubled sales of its mouthwash brand Listerine in the last one year despite stiff competition. (BS)

Lenders to Vishal Retail are expected to object to the beleaguered retailer’s decision to sell its retail and wholesale cash-and-carry ventures to the Shriram Group and Texas Pacific Group for Rs1bn. (BS)

Electrotherm is in talks to acquire US-based Illinois based lead acid battery manufacturer, Firefly. (BS)

Nestle to invest Rs5bn in food processing unit in Orrisa. (BS)

HCL Infosystems Ltd has been awarded Rs1bn Re-structured Accelerated Power Development and Reform Programmme (RAPDRP) order by the Himachal Pradesh State Electricity Board (HPSEB). (BS)

US-based CDC Software is in talks to acquire the promoters’ stake in Bangalore-based information technology (IT) services and solutions company Sonata Software. (BS)


The government is likely to lower import duties on rubber to help the tyre industry, which is facing cost pressure because of a supply crunch of raw materials. (ET)

RBI to review the operating procedure with respect to repo, reverse repo auctions; width of the interest rate corridor; and frequency and timing of reverse repo and repo auctions. (ET)

The Union government is looking at a new sugar subsidy mechanism as part of its decontrol proposal. (BS)