Daily News Roundup - Sep 3 2010

The marketing agreement between GAIL and RIL to sell D6 gas stands inoperative due to a Government policy that does not allow RIL to sell gas independently. (BL)

DLF has put on hold its plan to sell its non-core assets including ultraluxury hotel chain Aman Resorts and wind energy business for the next three quarters. (ET)



M&M has announced the launch of the Maxximo, its sub-2-tonne mini truck, in the Tamil Nadu market. (BL)

TCS has become the second largest insurance BPO provider in the UK after winning two deals worth GBP250mn. (BS)

IOC seeks land adjacent to its Haldia refinery for expansion. (BL)

Rishad Premji, son of Wipro Chairman Azim Premji, has been appointed as Chief Strategy Officer of IT Business at Wipro. (BL)

Sunil Mittal's son, Shravin Mittal, joins Bharti's international business. (BL)

HPCL plans to invest around Rs150bn in setting up a 9mn ton per year refinery on the west coast. (ET)

Cipla to buy 25% in its S Africa unit. (BS)

Consortium led by Tata Power plans to develop a 240MW geothermal power project in Indonesia. (ET)

Hero Honda launches the 125cc Super Splendor with drum brakes and self-start version. (BL)

Maruti to roll out 1,000 units of Swift special edition. (BL)

Petronet plans Rs 23bn expansion at LNG terminal. (BS)

Neyveli Lignite mulls 2,000MW supercritical plant in TN. (BL)

CPCL lines up Rs 7,000-cr projects. (BS)

SBI opens exclusive branch in Hyderabad for ultra HNIs. (BS)

BEML, CADES in tie-up to manufacture aircraft parts. (BL)

The promoters of Binani Cement have increased their stake in the company by 5% through buyback. (BL)

Koutons Retail is mulling raising funds through a public issue or private placement. (BL)

Sobha Developers announced the launch of a super luxury project – Sobha Classic – on Sarjapur Road in Bangalore. (BL)

SKIL Infrastructure plans to raise Rs25bn by selling less than 20% stake in two phases that includes a private placement to overseas funds besides a public issue. (ET)

Shriram Transport Finance plans to raise funds from venture capital and PE firms for a new property development and management company. (ET)

PNB plans to acquire a 64% stake in JSC Dana Bank for US$24mn by 2010 in Kazakhstan. (ET)

Adani Power has been shortlisted by Kosovo government to bid for 1238MW thermal Power project in Kosovo. (FE)

The sugar industry has offered to supply around 1,000 million litres ethanol to oil marketing companies for blending it with petrol. (BS)

NHAI on road to achieve its land acquisition target. (BS)

NHB looks at rating of intermediaries in housing finance. (BS)

Sponge iron companies raise prices by 3-5%. (BS)

Sale proceeds of carbon credits will not escape tax when the new Direct Taxes Code comes into effect from April 1, 2012. (BL)

Mutual funds asset base grows 3.3% in August (BL)

Bankers, retailers seek fee cut in debit card processing. (ET)