Daily News Roundup - Dec 24 2010

Coal India to miss production target by 16mn tons this fiscal. (BS)

Bharti Airtel has announced launch of a direct underground terrestrial link between India and China. (BL)

Tata Motor’s Nano has received the good design award for 2010 from Chicago Anthenaeum. (ET)

SCI has invited bids for commencing a ferry service between India and Sri Lanka from January. (BS)



Adani Power has synchronized the countries first supercritical unit of 600MW plant at Mundra. (ET)

The Board of Indian Hotels has cleared a proposal to issue shares and warrants amounting to Rs8.7bn to Tata Sons on preferential shares. (ET)

Reliance MediaWorks has inked a MoU with Russian World Studios. (ET)

Temasek picks over 3% stake in Max India. (ET)

Punjab and Sind Bank has signed a MoU with Bajaj Alliance life to market its low cost products across the country. (BS)

JK Tyre has rolled out country’s largest tyre, weighing 3,700kg from its Mysore facility. (ET)

Strides Arcolab to increase stake in Australia’s Ascent Pharmahealth to 94%. (ET)

Suven Life Sciences has secured 4 product patents corresponding to new chemical entities. (BS)

Koutons in talks with PE players and lenders to raise money. (BS)


Food inflation rose to 12.1% for the week ended December 11. (ET)

Banks have strongly argued with the regulator against entry of corporates in the banking. (ET)

RBI has instructed banks not to lend beyond 80% of the home value. (ET)

India’s KPO business could touch US$10bn by 2012, as per Assocham. (BS)

Indian Railways would raise freight charges on products like iron and steel by about 4% from December 27th 2010. (BS)

Finance Minister says that government would be able to meet both direct and indirect tax collection targets for the current fiscal. (BS)

Government might announce yet another set of incentives for some export sector in January. (ET)