Daily News Roundup - Oct 29 2010

RPower has places US$8.2bn order with Shanghai Electric for equipment to generate 23,760MW power. (ET)

ONGC may acquire 60% stake in exploration block AA-ONJ/2 from the Indian arm of UK based Tullow Oil. (ET)



Hero Honda today launched a new version of its 150cc bike Hunk, priced at Rs59,990. (ex-Delhi)

JSW Steel will have to wait till the end of this year for a final decision on additional land requirement for its proposed Rs200bn expansion project in Karnataka (BS)

SAIL Ltd expects to finalize its joint venture with Posco by mid-December (BS)

Petronet LNG plans to set-up 1,200MW gas based power plant linked to its Dahej Terminal. (ET)

PFC has entered into an agreement with Nuclear Power Cooperation (NPCIL) for providing financial assistance. (ET)

Tata Global Bevergaes board has approved forming 50-50 JV with PepsiCo to sell its Himalayan Brand of natural water. (ET)

SAIL ruled out the possibility of setting up of a plant through a JV with Arcelor Mittal. (BL)

Suzlon Energy looks to enter Latin America, Africa. (BS)

Adani Enterprises announced that it has won to develop and operate a coal mine at Chendipada in Orissa. (BS)

Sumitomo Metal Industries, a part of Japanese trading giant Sumitomo Group has decided to take 5.88% stake in Steel Strip Wheels for Rs450mn. (ET)

Dhanlaxmi Bank buys 15% stake in Destimoney Securities for Rs130mn. (BS)

SKS Microfinance Ltd said on Thursday it has cut its annual rate of interest to 24.55% from 26.69% effective immediately in Andhra Pradesh. (BL)

GlaxoSmithKline takes diabetes drug Rosiglitazone off the shelves. (BL)

JCB India announced its foray into footwear segment. (BL)


India’s infrastructure sector output grew 2.5%yoy in September. (BS)

RBI rules governing banks' investment in zero-coupon bonds will now also be applicable to some financial institutions (BS)

Food inflation eases to 13.75%yoy for the week ended 16th October 2010. (BS)

Sugar mills can buy sugar from third party to meet export target. (ET)