Daily News Roundup - Nov 23 2010

Zensar Technologies to acquire US-based PSI Holdings' unit Akibia for US$66 million. (BL)

Tata Chemicals announced the launch of ‘Paras Farmoola', the country's first ever customised fertiliser product specifically targeted at farmers in western-central Uttar Pradesh. (BL)



Godrej Agrovet, the agri-business arm of Godrej Ltd, has planned to enter the dairy farming business and is in talks with Israeli diary farm technology providers. (BS)

The government has approved stock split of ONGC share into two, making it affordable for investors ahead of its FPO. (ET)

Lupin has been sued in US over HIV drug. (FE)

Gujarat State Petroleum Corporation through a consortium of banks has tied up a Rs30bn term loan to finance its DeenDayal West field in the Krishna Godavari basin. (BS)

Jubilant Energy plans to raise US$85mn through institutional placement and plans to get listed on the London Stock Exchange on November 24. (BS)

The initial public offer of state-owned Punjab & Sind Bank will hit the market early next month. (BS)

Indian Bank has received the Central Bank of Sri Lanka's nod to open its branch at Jaffna in Sri Lanka. (BS)

The follow-on public offer of Shipping Corporation of India for Rs13bn would come out on November 30. (BS)

Religare Capital Markets, the investment banking arm of Religare Enterprises, has acquired the UK operations of Barnard Jacobs Mellet for an estimated US$40-50mn. (BS)

Bharati Shipyard has agreed to acquire 51% equity stake in the Chennai-based Tebma Shipyard for Rs758mn. (BL)

Kalpataru Power Transmission and Techno Electric and Engineering have achieved financial closure of a design, build, finance, operate and transfer project of 400 kV, 100 km power transmission line from Jharli to Bawana project from the Haryana Vidyut Prasaran Nigam. (BL)

BHEL has joined hands with GE India Industrial Private Ltd, a wholly owned subsidiary of GE, US, for manufacturing water treatment equipment. (BL)

Fitch Ratings has upgraded the credit rating of Tata Steel and Tata Steel UK Holdings to stable from negative. (BL)

Tata Teleservices, GSM arm Tata Docomo launched its 3G services in Maharashtra. (ET)

Axis Bank to open 100 branches under its rural banking strategy initiative in Tier–III, IV and V cities of the country. (ET)

Suryachakra Energy & Infrastructure Private Ltd, a wholly owned subsidiary of Suryachakra Power Corp. is in line to develop a 150 Mw lignite based power plant in the Bhavnagar district of the state. (BS)

Airlines reported a passenger growth of 18.3% in October to 4.6 mn. (BS)

The Drugs Controller General of India has suspended the sale of anti- obesity drugs 'Sibutramine' and 'R-Sibutramine' in the country as continued use of both drugs could lead to heart attack. (BS)

Government likely to decontrol the retail price of Urea and shift it to the nutrient based subsidy regime by 2011-12. (FE)

Navi Mumbai airport gets a green nod from the environment ministry but with riders. (FE)