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Friday, July 19, 2013

Daily News Roundup - July 19 2013

Essar Power said it has raised Rs7.5bn in debt through rupee-denominated bond offering. (BL)

BEML Ltd has bagged fresh order worth Rs7.47bn for manufacture and supply of 92 sets of standard gauge metro cars. (BL)

Lupin will co-market multinational drug-maker MSD’s pneumonia-prevention vaccine as part of an India-specific alliance between the two companies. (BL)

Bharat Petroleum Corporation will invest Rs9bn to set up a new LPG pipeline from its Kochi refinery to Coimbatore and to enhance the storage capacity at its Irumpanam installation. (BL)

The lenders to Kingfisher Airlines are understood to be considering legal options on how they could gain part-access to the highly-valued United Breweries shares, owned by promoters, including Chairman Vijay Mallya. (BS)

BGR Energy Systems Ltd has bagged the balance of plant (BoP) contract valued at Rs15.73bn crore from Odisha Power Generation Corporation Ltd (OPGC) for its expansion project wherein the state owned generator would add two 660 Mw units to its existing power station. (BS)

Infotech Enterprises Limited, is aggressively looking at acquisition opportunities even as it is cautious on keeping the Rs6.1bn cash balance (including liquid investments) as buffer to fund internal initiatives to grow its revenues. (BS)

Ashok Leyland Ltd, betting big on supplies to Indian defence forces, is also hoping to reap the benefits of investments made in acquisitions and joint ventures, said a senior official. (ET)

PepsiCo and Mondelez, along with their Indian counterparts ITC and Britannia, have been approached for a large bite of Balaji Wafers - a 37-year-old homegrown wafer, namkeen and savoury brand that dominates the western states of Gujarat, Madhya Pradesh, Rajasthan, Maharashtra and Goa with over 65% market share. (ET)

Hanung Toys & Textiles Ltd said it has bagged an export order worth USD $60 mn from a US-based buyer. (ET)

Reliance Infrastructure said it has tied up with US-based Innovari Inc for the pilot implementation of the Automatic Demand Response (ADR) programme in its licensed distribution area. (ET)

Subscribers can now access RCom 3G services at Rs 123 for 1 GB, Rs 246 for 2 GB and Rs 492 for 4 GB. (BL)

With auto makers staring at a severe slowdown, Ashok Leyland will defer all investments and capital expenditure that is not critical, said Dheeraj Hinduja. (BL)

Economy Snippets
The finalisation of bidding norms would facilitate award of UMPPs worth 4,000 MW proposed at Bedabahal in Odisha, Cheyyur in Tamil Nadu and Surguja at Chhattisgarh.(BL)

News Broadcasters have approached the Telecom Dispute Settlement and Appelate Tribunal (TDSAT) to appeal against TRAI's move to enforce a 12-minute cap on advertisements shown every hour.(ET)

Amid efforts being made to stem rupee's fall, RBI Governor D Subbarao has said the currency's exchange rate will largely be market-determined but central bank would intervene to prevent disruptions to macro-economic stability.(ET)