Daily News Roundup - Nov 16 2010

Tata group plans to foray in projects logistics segment in the next one year to tap Rs200bn market in India. (FE)

HPCL lines up Rs130bn capex to double its capacity of its Vizag refinery to 15mn tons a year by FY14. (ET)

Indian Oil Corporation (IOC) has planned a capex of Rs25bn for its marketing and distribution expansion. (ET)



A consortium led by L&T and Galfar Engineering & Contracting has bagged the design and development order for the New Salalah International Airport in the Sultanate of Oman for US$764mn. (BS)

NTPC would commence work on its first overseas project in Bangladesh by May ’11. (BS)

MERC has received EoIs from Maharashtra Electricity Distribution Company (MahaVitaran), Torrent Power, DPSC Ltd, Lanco Infrastructure, GMR Energy, Indiabulls Power, The Tata Power Company, and Enzen Global Solution over the auctioning of power distribution licence. (BS)

Tata Motors' global sales were up 18% at 86,705 units in October against the year-ago period. (BL)

HCL Technologies has bagged a US$100mn ‘business services' outsourcing deal in the US. (BL)

Infotech Engineering is evaluating Eastern Europe and Chinas as potential areas for new development centres. (BS)

TCS plans to recruit around 50,000 employees this fiscal and will ‘probably' add a similar number the next fiscal. (BL)

Skoda plans to partner domestic market leader Maruti Suzuki for developing a new small car. (BL)

M&M to drive into niche SUV segment with ‘Thar'. (BL)

SBI to sell bonds worth euro500mn; road show to begin from next week. (FE)

Nestle plans diabetes research unit in India. (FE)

Videocon targeting to double its exports to US$1bn by 2015. (FE)

Godrej plans to generate power from palm oil biomass in next two-three years. (FE)

Dabur India has bought US–based hair care company Namaste Laboratories and its three subsidiaries for US$100mn in an all-cash deal. (ET)

Tecpro Systems has bagged Rs940mn contract for the supply of coal handling plant for Dhariwal thermal power project at Chandrapur, Maharashtra. (ET)

GE India is embarking on a major localisation drive under which 60-70% of the products that it sells will be manufactured in the country in the next five years. (BS)

Natco Pharma plans to raise Rs1bn through private placement and various modalities. (BS)

Vivimed Labs is set to acquire a company in Europe for about US$50mn. (BL)

The government sought Parliament approval for gross additional expenditure of Rs449.5bn in the current financial year. (BS)

India’s trade deficit widened to US$9.7bn in October, compared to US$9.12bn in the earlier month. While exports rose to US$18bn, up 21.3% compared to last year, imports grew by 6.8% to US$27.7bn in October. (BS)

The Wholesale Price Index (WPI) came down to reach a nine month low at 8.58% in October primarily due to fall in prices of primary articles, particularly food items during the month. (BS)

SEBI likely to introduce flat fee of 1.5% for equity MF (Mutual Fund) schemes. (ET)