Daily News Roundup - Apr 10 2012

Coal India is likely to sign FSAs with at least 50 power companies after a board meeting next week. (BS)

Maruti Suzuki India Ltd, is set to challenge the dominance of the Toyota Innova with the launch of Ertiga, an (MUV). (BS)

ONGC says its JV company has won a third of the estimated US$3bn global contract to clean the 60 million cubic metres of Kuwait contaminated by the huge oil spills. (BS)

Indraprastha Gas Ltd may have to take a hit of around Rs10bn as the gas board orders cuts in rates, charges for CNG & PNG to Delhi consumers; firm may challenge directive. (BS)

Bajaj Hindusthan approved a modification in the draft merger scheme as per which only Bajaj Eco-Tec Products will be merged with it. The proposed amalgamation excludes Bajaj Aviation. (BS)



A large section of Kingfisher Airlines employees, including pilots and engineers, received their salaries after a delay of nearly four months. (BS)

BGR Energy Systems Limited has bagged a contract from NTPC to supply 2x660-Mw super-critical boilers, to be set up at Solapur in Maharashtra. (BS)

SEBI has filed a SLP before the SC challenging the legal issues arising out of the Bombay High Court order in the MCX-SX case. (BL)

Tata Steel has reported that its crude steel production rose 2.6% to 1.82mt in the March quarter. Its saleable steel output was up at 1.77mt. (BL)

Essar Steel commissioned a 6mtpa pellet-making facility at Paradip in Odisha. (BL)

iGATE Patni is offering Rs520 a share for delisting against a floor price of Rs356 a share. (BL)

Coal India will invest Rs750bn in the next 5 years to develop mines and infrastructure and buy foreign assets. (ET)

Marico said it will sell 4.56% stake in the company to two foreign investors for up to Rs500bn to fund acquisition of the personal care business of Paras from Reckitt Benckiser. (ET)


The finance ministry has formed a study group to examine the possibility of a common tax code for central excise and service tax. (BS)

Imports of sensitive items including fruits, vegetables and edible oils went up by 42.6% to Rs837.14bn during April-January 2012. (BS)

The government may ask public sector banks and insurance companies to relocate or close loss-making branches as part of rationalisation. (BS)

Cargo handling in ports saw a decline in 2011-12 as it fell 1.7%, the first in 10 years. (BS)

India experienced the second strongest domestic air traffic growth in the world after Brazil, but the high growth hid the financial weakness facing the Indian carriers, global airline body IATA has said. (FE)