Daily News Roundup - Dec 16 2010

International and domestic sales of Tata Motors rose 6 % yoy for the month of November. (BS)

Tata Motors has reportedly decided to increase prices of passenger vehicle models, except Nano and Aria, by up to 1.5 % from January. (BS)



Bank of Baroda has said it had entered into JV agreement with Banco Bilbao Vizcaya Argentaria of Spain to sell 51 % stake in its credit card arm Bobcards.(BS)

Bhushan Steel will purchase coal from Boikarabelo mine of Australia based coal supplier Resource Generation for 20 years. (BL)

Sterlite Industries & Hindalco are seeking a 76% increase in treatment and refining fees of copper.(FE)

Tata Motors has announced a special finance scheme for its small car, Nano.(BS)

Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines in the island-nation.(BL)

Vedanta Resources Plc plans to use proceeds from the IPO of its Zambian copper business to part fund its US$9.6bn acquisition of Cairn India.(BS)

Lanco Infra to buy Australia based Griffin Coal mining company & Carpenter Mine Management for US$750mn.(ET)

SAIL follow on public offer is likely to hit market in mid-january 2011.(ET)

The environment ministry has given Jindal Steel 15 more days to file a reply to its show-cause notice.(ET)

Ashok Leyland to start a vehicle assembly plant in UAE. (BL)

Essar Steel and Kobe Steel of Japan have entered into a MoU to produce autograde steel in India. (BS)

Strides Arcolab has cancelled its licensing and supply agreement with US-based KV Pharmaceuticals and will pay US$7.25mn. (BS)

Apax & Carlyle are bidding for 45.9% stake in Patni Computers.(FE)

Indian and Chinese companies have signed 48 deals worth over US$16bn. (BL)

State-owned oil firms have increased jet fuel prices by 3.6%. (BS)

The government has allowed the export of 0.5mn tons of sugar to the US and EU under the open general licence. (BS)

Credit offtake from banks grew by 23.1 % during the one-year period ended December 3, 2010. (BL)