Daily News Roundup - Dec 10 2010

Four companies may be short-listed by SAIL to submit price bids for the development and operation of a 4mn ton open-cast coking coal mine with inbuilt coal beneficiation plant at the Tasra block in Jharkhand. (BL)

Tata Motors unveiled three trucks from the Prima Construct global platform range designed for use in the construction and mining industries. (BL)

Tata Motors to assure Nano buyers with 4-year warranty. (ET)



Infosys eyeing European acquisitions. (BL)

PNB has increased interest rates on retail term deposits across various time slabs in the range of 50-100bps. (BL)

The Munjals of Hero Group have initiated talks with lenders to secure bridge financing for the buyout of its Japanese joint venture partner’s equity in Hero Honda. (ET)

Nalco has shortlisted two companies as partners for its proposed 160bn smelter-cum-thermal power project in Indonesia. (ET)

PTC's board has cleared a proposal for its financial services subsidiary, PTC India Financial Services, to go in for an IPO to raise equity capital. (BL)

ITC mulls revamp of paper biz with merger of stationery arm. (BL)

Dabur launches hair oil in Nepal. (BL)

Jindal Power is likely to launch a 70bn IPO by March 2011. (ET)

Rallis India, a subsidiary of Tata Chemicals, has acquired a majority stake in Metahelix Life Sciences Ltd. (BL)

Corporation Bank has increased the rate of interest on term deposits for six months to less than nine months. (BL)

Central Bank has upped interest rates on fixed deposits by up to 175 bps on various maturities. (BL)

Bata India bets on larger stores to give it a leg up. (BL)

NMDC, Severstal to set up steel plant in Karnataka. (BS)

Bata India to soon acquire a shoe brand in the country aimed at maintaining the annual 15% revenue growth momentum. (ET)

Firstsource Solutions is evaluating the opportunity of venturing into Sri Lanka for servicing local clients. (BL)

Strides Arcolab announced its entry into biologics, with the signing of an agreement to acquire 70% stake in biotechnology company Inbiopro Solutions, based in Bangalore. (BL)

SpiceJet to acquire 15 turboprop aircraft worth US$446mn. (BS)


Food inflation for the week ended November 27 stood at 8.69%, higher than 8.6% in the preceding week. (BL)

The Reserve Bank of India is likely to issue draft guidelines on new bank licensing by January 2011. (BL)

The Reserve Bank of India might take interim measures in order to give some relief to the microfinance institutions (MFIs). (BL)

A Government panel set-up to examine whether to allow FDI in multi-brand retail has decided against making any suggestion; instead, likely to propose wider consultations on the issue. (ET)

The food ministry has sought an increase in grain subsidies. (ET)

The Government will offer viability gap funding for setting up a marine salvage group with all advanced facility. (BL)

Cotton prices continue to decline on poor demand. (BL)

RBI governor says government is not spending enough to ease cash crunch. (BS)

Government might impose a tax on sugar imports from January. (BS)

DoT panel to review NDA policy on the allocation of licenses and spectrum. (BS)