Daily News Roundup - Feb 14 2012

IRB Infrastructure Developers said its subsidiary has tied up the Rs33bn required to execute a project awarded by the NHAI. (BS)

HCL Technologies said it has bagged an infrastructure management services contract from Norway-based Statoil. (BS)

The government is moving ahead with plans of disinvestment in ONGC and BHEL through the auction route to raise about Rs145bn within the current fiscal itself. (BS)

Manappuram Finance said it has not accepted any deposits from the public since March last year and it will take necessary measures to address concerns raised by the Reserve Bank in this regard. (BS)



Cognizant said it has bagged a five-year, multi-million dollar, engagement with Future Group to provide end-to-end IT infrastructure services for all group companies. (BS)

IVRCL Assets & Holdings Limited, a subsidiary of IVRCL, has bagged 151 km project - a four-laning of highway project from the Haryana government worth Rs14.29bn. (BS)

Welspun Energy Ltd has sewn up plans to set up solar photovoltaic farms with a total capacity of 100 MW in Andhra Pradesh. (BL)

NTPC has been asked to begin production from five mines re-allocated to it by the Coal Ministry. (BL)

DLF is understood to have earmarked an investment of Rs80bn to develop a 450-acre integrated township at Gurgaon within 2-3 years. (ET)

Axis Bank said it has entered into a partnership with DBS Bank to facilitate money transfer from Singapore to India through AxisRemit Online. (ET)

SAIL plans to spend Rs145bn on capital expenditure during the fiscal year that starts April 2012.(ET)

Economy Snippets
The Reserve Bank of India announced launch of a survey on the Foreign Collaboration in Indian Industry for 2010-11. (BS)

Credit card transactions worth Rs84.21bn were carried out in December, up 53% as compared to the same month in 2010. (BS)

Pakistan said the process for giving India the Most Favoured Nation (MFN) status is expected to be finalised "very soon". (BS)

India will reach its export target of US$300bn during the current financial year, the Director General of Foreign Trade has said. (BL)