Daily News Roundup - Oct 21 2010

UIDAI has shortlisted nine IT companies, including TCS, IBM, Wipro, HCL Tech, Mahindra Satyam and Tech Mahindra, for the managed services provider contract worth around Rs20bn. (BS)

SBI has announced a token increase of 10 bps in its base rate. (BS)



L&T plans to achieve financial closure for the Rs121.3bn Hyderabad Metro Rail project by next March. (BL)

SAIL seeks to rope in firms for power audit of five plants. (ET)

L&T Finance awaiting Sebi nod for its IPO to raise Rs15bn. (ET)

Essar Oil is close to acquiring oil and gas exploration blocks in Africa. (ET)

Tata Chemicals acquires has signed a share purchase agreement for acquiring a 100% stake in South African firm for US$1.1mn. (ET)

Opto Circuits is acquiring US-based Cardiac Science Co-operation between US$80-85mn in cash. (ET)

Wockhardt Hospitals said it will invest up to Rs7bn to double its bed capacity to 2,000 by 2013. (BL)

Celgene Corporation has filed a lawsuit against Natco Pharma in a US court in connection with the latter's filing of an ANDA seeking approval to market Lenalidomide Capsules. (BL)

Polaris Software will increase its capex spend nearly three times to Rs1bn in the current fiscal year to meet the upsurge in demand. (BL)

SKS Microfinance was not able to recover ~Rs14bn due to the Andhra Pradesh Micro Finance Institutions Ordinance, 2010, that came into effect from October 15. (BS)
Economy Snippets

Sebi is set to unveil new rules on takeover of public listed firms based on recommendations on a committee headed by C Achuthan. (ET)

Government may make registration of drugs brand mandatory. (ET)

Iron Ore exports falls most in September, down by 47% at ~3mt. (ET)

Gems & Jewellery export grow by 45.8% to US$18.91bn in first half of this fiscal. (ET)

The finance ministry is looking into the possibility of phasing out some exemptions from the Centre’s excise list in the next Budget. (BS)

Refinance for home loan issuers rises four-fold in H1FY11. (BS