Daily News Roundup - Jan 14 2011

IOC enter into an agreement with Nuclear Power Co-operation to set up power plants across the country. (ET)

Indian Hotels to open 43 new hotels in next four years. (ET)

Maruti to hike vehicle prices next week to offset higher input costs. (BL)

JSW Steel may increase its product prices by 3%. (BL)



Tata Group rejigs top management of some of its group firms, i.e. Tata Communications, Tata Teleservices and Tata Power. (ET)

Starbucks Coffee signs a MoU with Tata Coffee to enter Indian market. (BL)

BPCL to expand its metal-cutting gas business abroad. (ET)

L&T has delivered its first four dry shielded canister for Transnuclear, a US based nuclear power operator. (ET)

PNB picks up 30% stake in India Factoring and Finance Solutions to focus on SMEs initially. (BL)

Jet Airways to add 49 aircraft over the next three to five years. (ET)

Uninor to pay 60% of penalty imposed by DoT for not meeting roll out obligations in six circles.

HDIL may prepay debt with Andheri land deal. (DNA)

GVK Power and Infra has signed an agreement with state government for developing a new terminal for importing gas at Jamnagar district. (ET)

IDFC may come out with third public offer of its long term infrastructure bond in March. (ET)

REC plans to raise Rs500mn via sale of infra bonds. (ET)

MRPL buys crude oil from Brunei. (BL)

Glenmark’s US subsidiary gets USFDA nod to sell Atovaquone and Proguanil Hydrochloric tablet. (DNA)

PVR to invest ~Rs1.25bn in FY12 for distribution activity and production of 3 to 4 bollywood movies. (ET)

Binani Cement to invest Rs42bn in Gujarat to set up a greenfeild cement plant of 2.5mtpa. (BL)
Economy Snippets

Food inflation eases to 16.91% for the week ended January 1. (BL)

Cabinet Secretary KM Chandrasekhar favours FDI in multi-brand retail. (ET)

Government to invest Rs5,000bn in shipping sector by 2020. (ET)

Government clears FDI investment projects proposal worth Rs43.40bn. (ET)