Daily News Roundup - Sep 16 2010

RIL seeks 25% price rise for KG-basin gas. (ET)

SBI is in talks with RBI to form a holding company which will control the equity of the bank. (ET)

Bharti Airtel will sell telecom towers of its African operations to Bharti Infratel. (ET)

Cairn India forms a panel to ensure governance and protection of minority shareholders with regard to the Vedanta deal. (ET)



SAIL shortlists six investment bankers for Rs80bn FPO. (ET)

Bharti Airtel is all set to start financial services on mobile phones. (BL)

TCS has signed US$100mn deal with Supervalu. (ET)

Tata Motors global sales were up 29% at 85,114 units in August. (ET)

Sun Pharma to make fresh offer to shareholders of Israel’s Taro Pharma to buy remaining shares that were not tendered by its shareholders during the latest offer, which expired on Wednesday. (BL)

Suzlon Energy subsidiary REpower Systems has bagged an order to supply three turbines to Sweden’s Klagerup Kraft AB. (BL)

Reliance Broadcast Network Limited (RBNL)’s Out of Home (OOH) arm, Big Street, has acquired the super premium Line V of the Delhi Metro Rail Corporation (DMRC) for its outdoor advertising activities for a five-year period.

Ispat Industries’ arm GONTERMANN-PIEPERS to build 1.2mn tons pellet plant in Chhattisgarh for Rs3bn. (ET)

A Punj Lloyd group company has bagged a contract from Saudi Aramco for construction of a pipeline. (ET)

Religare is buying 50% stake in Sri Lanka based broking firm, Bartleet Mallory Stock Brokers for US$10mn. (ET)

RBI may express reservations with regard to Jet Airways proposed US$750mn ECB proposal. (ET)

Indian Hotels to invest US$3bn in various projects. (BL)

Shree Renuka Sugars buys additional 7% stake in NCDEX, taking its total holding in the commodity exchange to 12%. (ET)

Biocon has entered into an agreement with Teleradiology Solutions to provide teleradiology reporting services to Clinigene, Biocon’s clinical research arm. (BL)

D B Realty has acquired 100% stake in L&T Bombay Developers, a special purpose vehicle formed by L&T Urban Infrastructure Ltd and Bombay Dyeing and Manufacturing Company, for redevelopment of MIG Colony in Bandra (East). (BL)

S E Investments will be venturing into Uttarakhand and Rajasthan this fiscal and plans to add 0.1mn new customers. (BL)

EPFO announces 9.5% interest rate for FY2010-11. (ET)

Indian Inc. pays 15% higher advance tax in Q2 FY11. (ET)

August exports rise 22.5% yoy while imports grow by 32.3% to US$29.7bn. (ET)

Government to take up 10 fresh SEZ proposals today. (ET)

GSM user base grows by 13.5mn in August to 481mn, up 2.9% over July. (ET)

State finance ministers are likely to meet on 20th Sept to discuss the constitutional amendments needed to roll out the proposed Goods and Services Tax (GST). (BL)

Government not to tolerate any "back door" entries by industry for seeking mines. (BL)