Daily News Roundup - Jan 17 2012

Reliance Infrastructure Ltd transferred Rs5.2bn into its subsidiary BSES’s account for equity infusion. (BS)

PFC may partner Edelweiss Financial Services for the US$1bn PE fund it plans to establish. (BS)

The government has agreed to infuse fresh capital of Rs7.75bn in Bank of Baroda by the end of March 2012, CMD M D Mallya said. (BS)

SBI has said the Government has approved a capital infusion of Rs60-80bn by March 31. (BS)

Bank of Baroda plans to open about 13 overseas branches in the next 6 months. (BL)



IDBI Bank launched the country's first online retail G-Sec Portal — IDBI Samriddhi G-Sec Portal. (BL)

Essar Energy will reduce its dependence on Tehran for oil. (ET)

The Government of Singapore has acquired a 1.09% stake in Reliance Industries. (ET)

Maruti Suzuki will launch a compact version of the Swift DZire next month. (ET)

Apollo Hospitals Enterprises Ltd is planning to raise Rs200mn to support its philanthropic arm SACHi - Saving A Child's Heart initiative. (BS)

TTK Prestige Ltd would invest around Rs 85 crore in capex by March. (ET)
Economy Snippets

The SEBI is planning to make the bankers managing an issue responsible for the end-use of issue proceeds. (BS)

Exports in December grew just 6.7% to US$25bn from US$23.4bn in December 2010. (BS)

India plans to launch a US$1-billion fund by June-July, with an initial capital of Rs5bn, to invest in innovations that can generate services and products to uplift the poor. (BS)

The TRAI has suggested Rs200mn as the entry fee for pan India unified licence. (BS)

India's headline inflation fell to a two-year low of 7.47% in December 2011, from 9.11% in the previous month. (BL)

The government has decided to set up a working group with the UAE to facilitate investments from the Abu Dhabi Investment Authority (ADIA) for Delhi-Mumbai Industrial Corridor (DMIC) project. (FE)