Daily News Roundup - Nov 22 2011

MAN Truck and Bus AG of Germany is buying out its Pune-based joint venture partner Force Motors, in the venture that makes trucks and buses, for about Rs9.5bn.(BL)

NTPC Ltd has floated a tender for importing 4 mn tonnes of coal to bridge the shortfall of the fuel from domestic sources.(BL)

Reliance Infrastructure said it has commissioned a 140-km 400 kV double circuit transmission line between Ranchodpura (Vadavi) and Zerda (Kansari) in Gujarat.(BL)



Suzlon Energy Ltd has received an order from gas utility company GAIL to build and commission 11 units of 2.1 MW wind turbines in Tamil Nadu and Karnataka by the end of 2011-12.(BL)

Tech Mahindra and Mahindra Satyam have joined hands with Kaspersky Lab to jointly develop security solutions in the areas of mobility, endpoint security and cloud security services.(BL)

IDFC Ltd will offer 9 % interest on the first tranche of the tax-saving long-term infrastructure bonds and it plans to raise a total of Rs50bn in the current financial year through retail bonds, in various tranches. (BL)

Tata Motors has launched a revamped Nano in the local market, complete with new interiors, a better power-providing engine and new colour selection.(BS)

Atlanta Ltd. an infrastructure development and real estate company, has received in principle approval from the state government to set up a US$2bn theme park in Surat.(BS)

Maruti Suzuki may see declining sales volume in the current fiscal year as the country's dominant carmaker suffered heavy production losses due to a labour strike, while demand for cars remains weak in Asia's third-largest economy. (ET)

Piramal Group plans to lend Rs7.5bn to Rs.10bn rupees to real estate projects in this fiscal year to March through its newly set up non-banking financial company.(ET)

Neyveli Lignite Corporation is planning to light up one of the two 250 MW Circulating Fluidised Bed Combustion (CFBC) boilers.(ET)

JSW Steel is actively looking to acquire steel companies in India with capacity for value-added products, as it looks to boost margins and expand its offerings.(ET)

Reliance Broadcast Network (RBNL) has tied up with the USA's wrestling show producer Lucha Libre for content sharing and is eyeing more partners for such tie-ups for its TV channels in India. (ET)
Economy Snippets

The Government may soon set the price for ethanol and mandate a higher quantum to be blended with petrol under the ethanol blending programme (EBP) to promote bio-fuels.(BL)

The finance ministry said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.(BS)

The Reserve Bank of India (RBI) on Monday issued guidelines to allow banks and non-banking financial companies (NBFCs) to sponsor infrastructure debt funds (IDFs), to support long-term finance in infrastructure. (BS)

Foreign Direct Investment in India surged by 41 % to US$22.5bn during the January-September period this year, notwithstanding uncertain global economic environment.(FE)