Daily News Roundup - Feb 4 2011

Wipro CFO sells more than half of his company shares. (BS)

Infosys is rehauling its hierarchical system and making internal process more flexible for young employees to stem attrition and attract talent. (ET)

NTPC will not open price bids for the Rs110bn bulk equipment supply tender on Friday. (ET)



NTPC has floated bids for 800MW bulk super-critical units for Rs190bn. (BS)

Vedanta may terminate US$9.6bn deal if Cairn India tweaks royalty clause. (ET)

M&M has rolled out a ‘mobile seva’ initiative to provide services for its three wheelers and other commercial vehicles in AP, Tamil Nadu, Kerala and Karnataka. (BL)

ITC may soon hike prices of its packaged foods product by 7-8%. (BL)

Bank of India to raise Tier-I capital through the issue of 30mn fresh equity share. (BL)

Mahindra Satyam is wooing back select former employees. (BL)

Wipro to set up an exclusive delivery centre in Toronto to develop software solutions and cut down Canadian companies’ energy consumption bill. (BL)

SAIL FPO is likely to hit the market only by end-March. (BL)

IIFCL to lend up to Rs40bn in the current quarter to REC and PFC. (ET)

Bank of Baroda, Andhra Bank and Union Bank of India have raised their base rates by 50bps. (BS)

Power Ministry to seek cabinet nod for PFC FPO. (ET)

L&T Infra Finance Company has hit the market with its second issue of tax saving long-term infrastructure bonds. (ET)

Religare Wellness plans to buy equity stakes in companies across several African and South Asian countries. (ET)

Whirlpool to invest Rs1.25bn on new product development, marketing and enhancing infrastructure. (ET)

Arvind life style brand is close to sealing a licensing deal with French women’s brand, Elle. (ET)

Camlin has signed a MoU with Japan leading brand ‘Zebra’. (BS)

Karuturi Global has acquired 58% stake in Florista India through a share swap deal. (BS)


Food inflation rose to 17% for the week ended January 22. (BL)

Over 1.1mn mobile users have opted for MNP within a fortnight of the facility becoming available. (ET)

RBI to tighten oversight norms for portfolio management. (BS)

India may need to import 142mn tons of coal next year to bridge the estimated shortfall in domestic production. (BL)