Daily News Roundup - Sep 28 2010

Suzlon Energy is in talks to buy the remaining 9% stake in German unit REpower Systems AG. (BS)

L&T has bagged an order worth Rs16.1bn from Visa Power, for its 2x600 MW power plant being set up in Chhattisgarh. (ET)



M&M to raise prices of all its products by up to Rs8,000 with effect from October 1 due to higher raw material costs and implementation of new emission norms. (ET)

TCS has bagged a contract from the state of Karnataka for establishing and managing a proposed State Data Centre (ET).

Reliance Industries and ONGC are likely to get additional time for completing their oil and gas exploration program in their KG basin fields. (ET)

PowerGrid has called for fresh offers from shortlisted bidders BHEL-ABB and Siemens for its Rs70bn HVDC (high voltage direct current) sub-stations’ project. (BS)

IDFC plans to raise up to Rs34bn through a 10-year retail bond issue that opens on October 1 and closes on October 18. (BS)

BPCL plans to invest Rs500bn in the next five years for expansion of refinery capacity, overseas acquisitions of oil and gas assets and setting up power projects, say two senior officials. (ET)

KPIT Cummins Infosystems will acquire US-based CPG Solutions, a provider of Oracle consulting services to manufacturing and supply chain companies, for Rs0.6bn. (BS)

Elder Healthcare plans to focus its attention on the premium end of the personal care market, with in-licensed products. (BS)

Power Finance Corporation (PFC) will start issuing infrastructure bonds to retail investors by December-end. (BS)

SpiceJet would double its current 22-plane fleet by the end of 2013. (BS)

Arvind Mills will invest US$66mn to set up a textile and garment manufacturing unit at the Comilla Export Processing Zone in Bangladesh. (ET)

Jaihind Projects has won two orders worth Rs337mn from Brahmaputra Cracker and Polymer Ltd and Gail (India) Ltd. (ET)

Biocon has strengthened its existing research partnership with Cuba-based Center of Molecular Immunology (CMI) to create a product pipeline focused on autoimmune diseases and cancer. (ET)

Intel Capital has entered into a tie-up with Allied Digital to acquire close to a 3% stake in the company. (FE)

Britannia, GSKCH and Nestle are developing specialised nutrient-enriched products to cater to malnourished population. (ET)

Upset over a probe into whether anti-dumping duty should be imposed on imports of certain types of stainless steel products, utensils manufacturers has said any tax on the items would hurt an industry. (ET)

The government is setting up a new body, with a corpus of up to Rs2bn that will help companies develop environment-friendly technologies for hybrid and electric vehicles, joint secretary at ministry of heavy industries said. (ET)

RBI has tightened norms for banks extending loans to promoters against shares. (FE)