Daily News Roundup - Mar 10 2011

RIL natural gas D-6 output from KG basin may rise 25% in April. (ET)

Infosys is searching for acquisitions to add companies that specialize in providing healthcare and government services. (ET)

RCom has completed the procedure for obtaining an Rs87bn loan from China Development bank to part finance cost of 3G spectrum and equipment purchase (ET)




Three PE funds set to invest Rs14.40bn in GMR Airport. (ET)

Tata Motors to roll out new buses by early next fiscal. (BL)

Cairn-Vedanta deal likely to get cabinet nod by next week. (ET)

Hero Investments, promoter of Hero Honda has raised Rs9bn by pledging to Axis Trustee Services. (ET)

Dr Reddy’s Labs may launch 3 new drugs in US market in next financial year. (BS)

Canara Bank is raising upto US$440mn via share sale to institutional investors. (ET)

Tata Power may raise capacity by 1,300MW. (BL)

HDFC may sell part of non-core investments over next 6-12 months for Rs40bn. (BS)

Bank of India hikes its deposit rates by 25-75 bps. (BL)

Central Bank of India proposes to raise about Rs25bn from rights issue. (ET)

Hanung Toys to buy stake in US-based Cody Direct Corp. (BS)

Dr Reddy’s Labs to issue Rs5.2bn debentures. (BS)

PFC to set up subsidiary for renewable energy sector. (BS)

Dhanlaxmi Bank raises base rate by 50 bps. (BS)

HDFC to raise Rs1.5bn via bonds. (BS)

Kemrock Industries plan to set up facility for producing carbon fibres. (BL)
Economy Snippets

Car sales rise 25% in February to 189,000 units. (ET)

Iron ore export down to 75.11mt in April- Jan FY11. (ET)

Direct tax collection up 20.7% in April-February. (ET)

Premium on tea jumps 50% on rising demand. (ET)

India got US$2.16bn FDI in wholesale cash-and-carry sector. (BL)