Daily News Roundup - Feb 14 2011

SEBI to issue Reliance Industries a fresh showcause notice for violation of insider trading regulations. (BS)

NTPC in talks with Toshiba Corp to build a pilot project in India to capture and store carbon emissions. (BS)

SBI raised its base rate and the benchmark prime lending rate by 25bps each. (BS)

The Bajaj Group mulling a return to scooter manufacturing. (ET)



SBI plans to sell retail bonds once again to raise Rs20bn. (ET)

Apollo Tyres plans to set up car radial-tyre plants in Eastern Europe. (ET)

GE Shipping withdraws the draft red herring prospectus of its subsidiary, Greatship (India) Ltd. (BS)

M&M has fixed Rs66.55 per share for an open offer to acquire 20% additional stake in EPC Industries from public shareholders. (ET)

Dexia Group, European banking major may rope in YesBank and IndusInd Bank to takeover its Israel operations. (ET)

IDFC raises Rs7.65bn in its second bond sale in less than four months, up 66% from the first one. (ET)

S Kumars Nationwide plans to make it a Rs5bn brand in the next 3-5 years. (BS)

Uttam Galva, Bhushan Steel and APL Apollo eye Lloyds Steel, which has an annual steelmaking capacity of 0.6mn tonnes. (ET)

ONGC can recover levies from Rajasthan field revenue, says oil ministry. (FE)

Allied Digital Services says its board will meet today to decide on buyback of shares. (FE)

Hero Honda to from JVs with parts makers. (FE)

Apollo Tyres is looking at expanding its presence in the overseas markets either through acquisition or by setting up a greenfield project. (FE)

Gayatri Projects says Singapore-based Sembcorp Utilities has infused the first tranche of Rs3.6bnin Thermal Powertech Corporation India, a JV between Gayatri Energy Ventures and Sembcorp's wholly-owned utilities business. (FE)

PTC India unit to raise Rs6bn via IPO. (FE)

EIH announces rights issue price of Rs65/share at 11:5 entitlement ratio; it would raise Rs11.6bn through the rights issue. (TOI)

IOC is setting up a terminal at Chittooor in Andhra Pradesh at an estimated cost of Rs1.2bn and also a bottling plant at Nellore. (BL)

Coal India eyeing more assets in West Virginia. (BL)

Tata Motors will spend about £1bn on JLR towards R&D expenses this year. (BL)

India Equity Partners is set to acquire a majority stake in Tata Group firm Innovative Foods Limited in a deal worth Rs750mn. (ET)

KEC International ropes in Germany’s Bioworks as a technical partner for its foray into the water treatment business. (ET)

NTPC may revive its plans to set up coal- and gas-based power projects in Nigeria. (ET)
Economy Snippets

Ministry of company affairs is considering delaying the adoption of International Financial Reporting Standards, or IFRS. (DNA)

India's foreign exchange reserves went up by US$243mn to US$299bn in the week ended February 4. (DNA)

India's exports grew by 32.5% yoy to US$20.6bn in January, 2011. (DNA)

IIP logs 1.6% growth in December 2010, a 20-month low. (FE)

In a bid to bring down the current account deficit to 3% from the current 3.5%, customs duties are likely to be raised slightly in the forthcoming budget. (BL)

Snapping two months of declining trend, FDI increased 30.7% to US$2bn in December 2010. (BL)

Finance ministry plans to table a Constitutional Amendment Bill for introducing the GST in the coming Budget Session of Parliament. (BS)

Maharashtra sugar body seeks govt nod to export extra molasses. (DNA)