Daily News Roundup - Aug 22 2011

As it strengthens the R&D activities, Maruti Suzuki India is aiming higher with plans to roll out a global car by 2017. (ET)

Hindustan Unilever and Future Group will co-develop and co-brand a line of bakery products that will be sold exclusively at Big Bazaar stores in the first instance of such a partnership in the country. (ET)

NTPC has said that lack of "politico-administrative" support to tackle commercial losses and poor health of government utilities are among the main reasons for low FDI inflows into the Indian power sector. (ET)



NALCO plans to invest Rs579bn by 2020 on expansion, including the setting up of two large aluminium smelters in India and abroad. (ET)

Religare Finvest plans to raise up to Rs8bn from retail investors through issue of bonds early next month. (ET)

ITC Hotels and Indian Hotels Company will invest strongly over the next few years to add properties. (BS)

The Centre has begun preparation for disinvestment for Nalco and Hindustan Copper Ltd without follow-on offers (FPO). However, for SAIL, the Government has revived the process for a combined exercise – stake-sale and an FPO. (BL)

Corporation Bank has sought capital support from the Central Government to the tune of Rs 3bn. (BL)

Auto component maker JBM Auto said it is investing about Rs2bn this fiscal in expanding production capacity at various locations across the country. (ET)
Volkswagen AG will roll out the new Up! city car next month to tap growing demand for small, fuel-efficient vehicles as Europe’s biggest auto maker aims to claim the industry’s top global sales position. (BS)
Economy Snippets

The Centre for Monitoring Indian Economy (CMIE) has scaled down its forecast for the industrial production growth in FY 12 to 8.2% from 8.7% earlier. (ET)

The net foreign direct investment (FDI) inflow in India is expected to improve sharply to US$19.5bn during FY 12 as compared to US$7.1bn in FY 11 on account of robust and sustainable economy, the Centre for Monitoring Indian Economy (CMIE) said in its monthly review here. (ET)

The Indian government could take several months before it gives the green signal to foreign direct investment (FDI) in multi-brand retail allowing global chains to open stores in the country, the latest report of the US Agriculture Department said. (ET)

The committee of secretaries (CoS) has decided to expand the definition of "back-end infrastructure" for the proposed policy to permit foreign companies in multi-brand retail. (ET)