Daily News Roundup - Dec 2 2011

Reliance Industries has told the government that already declining production at it’s the D6 block in offshore Andhra Pradesh, could plummet drastically if its investment plans are not approved forthwith. (ET)

Maruti Suzuki India said it had not indulged in any unfair labour practice by asking its workers to sign good conduct bonds, countering a statement made by labour and employment minister. (BS)

Mumbai International Airport Limited is from this Saturday putting Kingfisher Airline on a cash-and-carry mode, as it has not paid Rs900mn towards landing, parking and other charges. (ET)

BHEL has bagged a Rs400mn contract to supply equipment for a captive power plant being set up at global steel giant Arcelor Mittals plant in Ukraine. (BS)



ONGC has notified the Directorate-General of Hydrocarbons of two new oil and gas discoveries. (BL)

DLF is likely to conclude the Aman Resorts deal by early 2012. (BS)

Ranbaxy announced that it has launched the generic version of drug Lipitor in the US market. (ET)

Power Finance Corporation would, in mid-December, invite bids to set up a private equity fund. (BS)

The power ministry will review the progress of four ultra mega power projects allotted to Reliance Power and Tata Power. (ET)

Axis Bank raised Rs15bn through the sale of non-convertible debentures. The bonds carry a coupon rate of 9.73% and would mature after ten years. (BS)

Vivimed Labs Ltd has acquired Latin American active pharmaceutical ingredients manufacturer Uquifa for US$55mn. (ET)

Maruti Suzuki India Ltd is considering raising prices of its products from next month to offset the impact of a depreciating rupee. (BS)

ABB has won an Rs1.75bn order from Power grid Corporation to supply equipment (BL)

Jet Airways is talking to leasing companies to acquire more than 10 Airbus A320s through a sale and lease back option. (ET)


Nasscom said the Indian information technology sector would meet the growth forecast for the 2011-12. (BS)

The food price index rose 8% in the week to November 19 well below the 9.01% rate reported in the previous week. (ET)

After the Cabinet nod for cable digitisation, the government is set to hike the FDI limit in the distribution platforms from 49% to 74%. (BS)

India's trade deficit widened the maximum in October to US$19.6bn, as exports in the month fell to a 12-month low of US$19.9bn. (BL)

The Cabinet Committee on Economic Affairs approved Rs25bn in additional funds to banks to give 2% interest subvention on rupee credit to these exporters. (BS)