Daily News Roundup - Mar 11 2011

ICICI Bank and Reliance Capital are looking at acquiring CLSA and Cheuvreux, the broking franchises of Credit Agricole. (BS)

SBI plans to spend US$200mn on overseas acquisition. (BS)

ONGC FPO has been deferred to the second half of the next year. (ET)



TCS, HCL Tech and Wipro are in race for a contract to set-up and maintain the state data centre in Madhya Pradesh. (BL)

Etisalat, Idea get notices from DoT on license cancellation. (BS)

Tata Steel raw material cost may go up by US$1bn. (ET)

Hero Honda to get new name and logo following the exit of Japanese JV partner, Honda Motors. (ET)

Sesa Goa edges out JSW Steel in battle for Bellary Steel’s assets. (ET)

Nestle to invest Rs15bn over 2-3 years. (ET)

Tata Teleservices in planning to go for rights issue to repay debt. (ET)

Adani Group is considering its second major acquisition in Australia to meet increasing coal demand. (ET)

Reliance Infra is close to achieving financial closure for its road projects portfolio (ET)

Tech Mahindra opens new development centre in Germany. (BL)

Canara Bank raises Rs20bn through QIP issue. (BS)

Reliance Broadcast is going for a 50:50 JV with RTL Group to launch series of television channels in India. (ET)

Essar Group has bought 54% stake in Zimbabwe’s state-owned steel maker Zisco for US$750mn. (ET)

Pantaloon raises apparel prices by 18%. (ET)

LIC Housing Finance to raise Rs2.5bn via bond sale. (BS)

Godrej Properties has bought stake in Udhay OK Realty Private Ltd from HDFC Venture Trust Company for Rs240mn. (ET)

Henkel India kicks off sale process of its detergent and personal care business. (ET)

Ind-Swift labs gets nod for two drugs from Japan’s regulator. (BL)


Food inflation dips to 9.5% for the week ended February 26. (BS)

Government to consider 5% cut in custom duty on crude oil, if global prices start moving towards the June 2008 levels. (BS)

February exports surge 50% to cross US$200bn. (ET)

India’s sugar production in the current crushing season will be in the region of 25mn tones. (BL)

Food inflation would come down to 7%, says Kaushik Basu, the Chief Economic Advisor. (BL)