Daily News Roundup - Jan 20 2011

Tata Steel has said it has raised Rs5.07bn through allotment of about 8.3mn shares to a clutch of anchor investors at the upper end of price band of its public offer, which is open for subscription. (BL)

The S&T Mining Company, a 50:50 joint venture between Tata Steel and SAIL is set to get coal blocks soon. (BL)

Rolta has sold its 50% stake in Shaw Rolta to its joint venture partner, Stone & Webster for Rs1.6bn.(ET)



Air India has mandated ICICI Bank to re-finance the Rs55bn loan to buy 21 Airbus A 320 family aircraft. (BS)

Tatas, Essar and SAIL are among the 14 Indian companies that have evinced interest in developing the Hajigak mines, containing an estimated 1.8bn tons of iron ore, in Afghanistan. (BS)

RCOM has raised $255mn through external commercial borrowing (ECB) to partly refinance 3G payments.(ET)

RCom said it has added 3.25mn wireless subscribers in December 2010, crossing the 125mn customer mark. (BS)

In a bid to undo the damage caused by the recent loan bribery scam, LIC Housing Finance has stopped financing project developers. (BS)

Coal India will operationalise a new underground mine having a reserve of 20 million tonne in jharkhand.(ET)

Essar Energy said it has raised US$500mn through a convertible bonds issue to fund acquisitions, projects and refinance debt. (BL)

HCL Infosystem sold its entire stake in its internet provider subsidiary, HCL Infinet to broadband services company Tikona Digital Networks.(ET)

Vedanta Group has stated that it is not going to apply afresh for ‘green’ clearance to expand its aluminum refinery project in Orissa’s Kalahandi district. (BS)

Glenmark Pharmaceuticals has received the USFDA’s approval to market atovaquone and proguanil hydrochloride tablets, used in treating malaria, in the American market. (BL)

Dhanlaxmi Bank raises deposit rates by 125 bps.(ET)
Economy Snippets

The RBI has asked banks to go easy on MFIs by relaxing certain norms regarding loan restructuring. (BS)

RBI Team to visit Germany to explore Iran oil Payments.(ET)