Daily News Roundup - Jan 21 2011

ONGC’s Rs130bn public issue is likely to be deferred to the next fiscal. (ET)

Maruti plans to take its installed production capacity to 1.75mn per year in stages. (BL)

Large creditors of Ssangyong Motors have approved the acquisition of the South Korean company by M&M. (ET)



TCS will fall short of its planned capex spend this year. (BL)

Aditya Birla Group is set to acquire US carbon black manufacturer Columbian Chemicals for US$900mn. (BS)

Amtek Auto has formed a JV with South Korean automaker Autech Corp. for manufacturing vehicles for defense, para-medical, fire-fighting and waste management sectors. (ET)

Punj Lloyd bags three oil and gas contracts in India, Oman and Indonesia worth Rs6.45bn. (ET)

McNally Bharat has received Rs1.08bn order for turnkey commissioning of the conveyer system at the coal handling terminal of Karaikal Port. (BL)

HCL Infosystems has bagged an order from Assam Electronics Development Corp. to provide 7,200 units of "HCL ME" laptops. (BL)

Fortis Healthcare to add a dozen hospitals in two years. (ET)

MRPL plans to increase its refining capacity by 27% to 15mmtpa. (BS)

SEBI has given approval to Karnataka Bank’s rights issue. (ET)

TTK Prestige to invest Rs2.5bn in kitchenware. (ET)

Strides Arcolab’s wholly owned subsidiary has signed an agreement with Brazilian firm, BioChimico, to set-up a JV for the Brazilian hospital market. (BS)

Kajaria Ceramics has entered the sanitaryware and bath-fittings segment by tying up with European brand Vitra. (BL)
Economy Snippets

Food inflation dips to 15.5% for the week ended January 8 2011. (BS)

Government targets FDI of US$250bn in the next five years. (BL)

The government may not bring in a law to regulate micro-finance institutions in the country. (ET)

Oil Minister Mr Jaipal Reddy ruled out any increase in diesel prices. (BS)

The government is set to re-start its popular Technology Upgradation Fund Scheme for the textile sector. (BL)