Daily News Roundup - Feb 16 2012

Telenor wants to drop its partner Unitech after the Supreme Court revoked their mobile licences in the country and is seeking a new local partner. (BS)

PSL Ltd said it has bagged orders worth Rs7.42bn so far in this quarter from infrastructure firms in India and abroad. (BS)

NIIT Technologies said it has bagged a deal Rs3bn to implement a Union Home Ministry project which will be part of the proposed Natgrid. (BS)

P&G has filed a complaint with Advertising Standards Council of India against advertisement by HUL for its detergent Rin. (BS)




Marico acquired a part of the personal care business of Paras Pharma, owned by Reckitt Benckiser India. (BS)

Following NTPC's exit from ICVL, the government is mulling a couple of options for distributing power major's 14% stake among the existing shareholders— SAIL, RINL, NMDC and Coal India. (BS)

Tata Motors Ltd's global vehicle wholesales rose 21% in January from a year earlier led by strong sales of its luxury Jaguar Land Rover vehicles. (BS)

The Andhra Pradesh High Court stayed an order issued by the Income Tax department seeking attachment of the Mahindra Satyam’s land and buildings. (BS)

The empowered group of ministers (EGoM) on disinvestment agrees in principle for auction of 5% share in ONGC. (BS)

The government has ordered Coal India to guarantee 20 years of supplies to private power producers. (BS)

Jet Airways has sought government help to secure additional working capital loans from banks and an extended credit period from state-run oil marketing companies. (FE)

Union Bank of India is looking to raise up to Rs9.55bn through preferential allotment of shares. (BL)

State Bank of India wants policy support and regulatory intervention in the agriculture sector so that bad loans from this sector could be tackled effectively. (BL)

Infosys said it was looking to expand its footprint in India with a focus on tier-II cities. (ET)

HCL Technologies entered into a strategic partnership with Great American Insurance Groupto provide IT, back office and infrastructure management services to the US major and its affiliates. (ET)

TCS expects "discretionary spending" by overseas clients to rise from April. (ET)

Independent Media Trust, recently set up by Reliance Industries group purchased 27.14 lakh shares worth about Rs110mn shares in Network18 Media and Investments. (ET)

Economy Snippets
The government announced the new telecom policy allowing operators to hold higher spectrum, pay uniform licence fee across services besides permitting liberal merger and acquisition, with a view to provide quality services at affordable prices. (BS)

India's services exports fell marginally by 0.8% to US$11.18bn in December, over the previous month, according to the Reserve Bank data. (BS)

The Board of Industrial and Financial Reconstruction is being ‘manipulated', according to former governor of Reserve Bank of India, Dr Y. V. Reddy. (BL)