Daily News Roundup - Dec 9 2010

Tata Steel may team up with an Indian metal or miner company to make counter-bid for Rio Tinto$3.5bn offer.(ET)

Supreme Court (SC) question banks for Rs100bn loans to new licenses.(ET)

Hindalco Industries, Canadian unit Novelis will raise US$4mn loan- cum-debt to refinance hindalco debt. (ET)

NTPC has earmarked Rs1.5trn investment for sourcing equipment for its power projects in the next fiscal, the deliveries of which will be made over five years. (BL)

ONGC will allow GAIL to market gas from C-series field. (BS)

Hero Honda has hiked the prices of its models in the range of Rs500-1,500 to offset the rising input costs. (BL)

State Bank of Bikaner & Jaipur said it had raised deposit rates by up to 105 bps on select maturities. (BS)

CESC has announced its plan to build a 90 MW hydroelectric power project in Arunachal Pradesh. (BL)

Tata Motors lines up new financing deals to boost Nano car sales.(ET)

Arcleor Mittal will spin off its Inox stainless steel division in a bid to unlock value of shareholders.(ET)

Natco Pharma has entered into an agreement with the US-based Watson Pharmaceuticals to develop and market generic lenalidomide tablets. (BL)

Kotak Mahindra Group’s ARC arm, Phoenix ARC, is set to raise a global fund of Rs3bn from investors abroad. (BS)

PE firm Actis is in talks with Isuzu Motors for exiting automobile company Swaraj Mazda. (BS)

Sebi has approved the open offers of Reliance MediaWorks and Inox to buy majority stake in multiplex operator Fame, ten months after being filed. (BS)


The government is likely to increase diesel prices shortly on the back of rising crude prices. (BS)

Tea imports to India dips nearly by 18% in first nine months of current year.(ET)

Vehicles sales grew at 17.8% in November. (BS)

India exports grew fastest rate in five month at 26.8% (YoY) US$18.9bn while imports increased by only 11.2% (YoY) in to US$27.8bn. (ET)

RBI Governor has said inflation was still above the central bank’s tolerance level. (BS)