Daily News Roundup - Dec 2 2010

BHEL has bagged Rs26.7bn order for supply and installation of a 2x600-MW thermal power plant at Raigarh in Chhattisgarh. (BL)

The Government has approved splitting of ONGC shares ahead of the FPO slated for March 2011. (BL)

Cabinet committee on economic affairs (CCEA) has formally accepted for ONGC share split.(ET)



NTPC has tied up with a Singapore-based bank for US$300mn loan for funding its projects during this fiscal. (BL)

Coal India Ltd.( CIL) may buy 10% stake in US-based Peabody asset ltd. (ET)

HDFC bank, ICICI bank & Corporation bank withdraws teaser home loan schemes.(ET)

Bharti Airtel & Punj Llyod have submitted bids to buy out Telecom consultant of India (TCIL) 30% stake in Bharti Hexacon. The deal is expected to be worth Rs18bn.(ET)

IOC plans to come out with FPO by January 2011 for a price of Rs450 per share.(ET)

SBI & Indian Bank have raised inertest rate for NRE rupee term deposit from 2.51% to 2.54%. (ET)

The Government is likely to dilute up to 10 % of its stake in Neyveli Lignite in the next financial year. (BL)

Central Bank of India is planning Rs25bn rights issue in the January-March quarter. (BS)

VA Tech Wabag is looking at acquisition of around Rs10bn in China & Middle East Asia.(ET)

Supreme Court has dismiss German firm Bayrer’s Plea to block Cipla low-cost cancer drug launch. (ET)

Polaris Software will set up development centre in China & will house as many as 1000 programme. (ET)

DHFL stated it will acquire Deutsche Postbank Home Finance for ~Rs10.8bn. (BS)

Essar Steel stated output from its steel plant in Hazira will be progressively increased to 10 mn tons by March 2012. (BL)

Welspun India has earmarked around Rs7bn for foraying into technical textile. (BL)

Rolta has inked pact with Augusta Systems for maritime security. (BL)

Emami has emerged the front-runner in the race for Ahmedabad-based Paras Pharmaceuticals. (BS)

World Bank has approved $45mn loan to National Highway Authority of India (NHAI). (ET)

The Government has approved capital infusion of Rs60bn into 10 public sector banks in order to ease availability of credit. (BL)

The HSBC PMI reached a six-month high of 58.4 in November, from 57.2 in October. (BS)

India's exports during October 2010 were 21.3% higher in dollar terms than the exports in corresponding period a year ago. (BL)

Two-wheeler sales clocked 16% rise in November. (BS)