Daily News Roundup - Jan 7 2011

SBI has asked Vodafone for cash and cash equivalent against guarantee sort by the telco for depositing with the Supreme Court in its case against the income tax department. (ET)

Government top dilute stake in three state-run companies - ONGC, SAIL and Hindustan Copper in the current fiscal. (BS)




Promoter of Reliance Infra to increase stake up to 48%. (ET)

SBI to set-up 600 financial inclusion centres. (BL)

JSW Steel to step-up coking coal imports by 40% next fiscal. (ET)

JSW Steel has acquired Bellary Steel and Alloys for Rs2.1bn. (ET)

ONGC Q3 FY11 profit may be hit by a higher subsidy pay-out, as per Chairman RS Sharma. (ET)

PFC’s Rs70bn FPO likely in May. (ET)

NTPC is eyeing Maldives to set-up solar power projects. (BS)

SAIL in talks with Japanese companies for technology to set-up a cold rolled grain oriented steel manufacturing facility. (BS)

L&T bags orders worth Rs11.8bn. (ET)

BHEL-Alstom and LT-Mitsubishi have made it to the final round of NTPC’s super critical boiler tender estimated at over Rs100bn. (BS)

Suzlon bags Rs8.7bn order from Hindustan Zinc to set-up wind-farms in four states. (ET)

Promoters increase their stake to 48.6% in Unitech by converting warrants into equity. (BS)

Eicher Motors plans to start its own branded sales and service outlets in India. (ET)

Omnitech is looking at raising Rs670mn through QIP over the next six months. (ET)

TAKE Solutions has acquired UK based WCI Consulting Group through its subsidiary for an un-disclosed amount. (ET)

Food inflation stood at 18.3% for the week ended December 25, its highest level in 23 weeks. (ET)

The Government has decided to link wages under the employment guarantee act to inflation from January 1 this year. (ET)

IMF expects Indian economy to grow by 8.8% in the current fiscal. (ET)

Direct-Tax collection rise 19.5% in April-December 2010. (BS)