Daily News Roundup - Nov 30 2011

Reliance Industries has shut four wells in its Krishna Godavari-D6 gas fields, off the east coast, due to high water ingress leading to output dipping to 41mn cubic meters per day. (BS)

In yet another warning from Infosys about the economic environment, the company has said clients are asking for a slower start. (ET)

Lenders to the GTL group have sought a personal guarantee from the company’s promoter as part of the negotiations for corporate debt restructuring. (BS)



Ashok Piramal Group has roped in IDFC's India Infrastructure Fund and Canada's SNC-Lavalin to develop public private partnership based road and highway projects in India. (BL)

A local political party has threatened to file a case in a civil court in Maldives against GMRs proposal to levy $25 as airport development from January. (BS)

J Suresh Kumar, the chief financial officer of Lanco Infratech, has resigned. (ET)

Everonn Education Ltd has got SEBI clearance for its open offer to Dubai-based Varkey Group, which was scheduled to open on November 16. (BS)

A section of workers threatening to go on strike at Hyundai Motor India’s plant, demanding reinstatement of 18 sacked colleagues. (ET)

Saraswat Bank has raised its deposit rate for savings bank account to 6% per year from 4% across the board for all depositors. (BS)

IVRCL Ltd, which recently announced plans to restructure its business, is now seeking to churn its income-generating assets portfolio, including toll ways. (BL)

Air India board decided in favour of a ‘sale and leaseback’ option for seven of the 14 aircraft purchases from an order of 27 aircraft after reviewing the financial condition. (ET)

Firstsource Solutions has repurchased zero coupon convertible bonds worth US$19.1mn. (ET)
Economy Snippets

The Reserve Bank of India said auctions for securities worth Rs100bn would be conducted through open market operations on December 1. (BS)

The government is formulating an iron ore utilisation policy on the lines of a similar policy currently operating in the domestic gas sector. (BS)

Union finance ministry has came out with a set of proposed rules on public procurement, aimed to ensure transparency in purchases by all government agencies and central public sector units, and providing for penalties on wrongdoers. (BS)

The Finance Ministry has imposed definitive anti-dumping duty on imports of hot-rolled flat products of stainless steel from the European Union, South Africa, the US and Taiwan. (BL)