Daily News Roundup - Apr 8 2011

Infosys, AP Government have locked horns over SEZ land near Hyderabad. (ET)

Cairn Energy extend Vedanta deal deadline to May 20. (ET)

RCF, Coal India and GAIL will together spend Rs75bn to build coal gasification facility. (ET)

SAIL FPO to hit market by May-end. (BS)

BHEL’s Haridwar unit reported a record turnover of Rs42.4bn. (BL)



Essar to seek US$700mn more from Vodafone. (ET)

The application of R-Infra for an extension in its existing power distribution license to the suburbs of Mumbai has been rejected. (BS)

Mahindra Satyam NYSE relisting maybe delayed. (BL)

Suzlon launches wind turbine machines suitable for low wind speeds. (BL)

IFCI has increased its stake in debt-ridden apparels company, Koutons Retail from 5.9% to 10.2%. (BL)

HCL Info eyes direct presence in Africa. (BL)

Essar Steel steps up HR Coil processing capacity. (BL)

Syndicate Bank has offered an out-of-court settlement with Wockhardt for FCCBs. (ET)

DE Shaw to buy 14.2% stake in NDTV for Rs700mn. (BS)

Glenmark has entered in to an exclusive licensing deal with Canada-based Immanence-IDC to distribute the latter’s anti-ageing cosmeceutical range of products in eight countries. (BS)

Radico Khaitan has entered in to an agreement with Japanese firm Suntory Liquors to launch two super premium whisky brands. (BS)

Bajaj Finserv forays into Wealth Management business. (BS)

Central Bank has raised Rs25bn through rights issue. (BS)

Gujarat NRE Coke allots shares on FCCB conversion. (BL)

South Indian Bank clocked total business of Rs505bn in FY11 v/s Rs480bn in FY10. (BS)

Hotel Leela Ventures is mulling over a new mid-market brand by end of this year. (ET)

Royal Orchid to invest Rs3bn to open six hotels in 2011. (BL)

Elecon Engineering wins Rs1.76bn order from NMDC. (BL)
Economy Snippets


Food inflation dips to 4-month low of 9.2% for the week ended March 26. (ET)

New Banking license draft in the next 15-20 days, says Finance Ministry. (ET)

Finance Ministry slaps 10% excise duty on jute items. (ET)

Government urged to impose 15% duty on cotton yarn export. (ET)

RBI may not extend the additional 1% SLR relaxation and the second LAF window beyond April 8. (BS)

Government mulls allowing major ports to issue tax-free bonds. (BS)