Daily News Roundup - Apr 21 2011

Oil minister to discuss decline in RIL’s KG block output. (ET)

Fitch upgrades RIL’s local currency rating. (BL)

ONGC FPO may hit market in June-July 2011. (ET)

Yes Bank to raise upto US$500mn in FY12. (BS)



Reliance Infra arm close to tying up funds for Worli sea-link project. (BL)

Jindal Steel makes second attempt at acquiring Rocklands of Australia. (BS)

Tata Power raises US$450mn through dollar-denominated hybrid bonds with an interest coupon of 8.5%. (ET)

SBI scrap teaser home loans scheme. (ET)

Tata Steel, Rio Tinto to jointly develop new technology. (BS)

ICICI Bank to provide a soft loan of Rs220mn to The Energy and Resources Institute (Teri). (BS)

Sobha Developers plans to develop over 11mn sq.ft during this fiscal at an estimated project cost of Rs25bn. (BL)

VIP Industries may sell stake in Windsor Machines. (BS)

PowerGrid has signed MoU with Kenya for providing consulting service to develop their power transmission network. (BS)

KFA has increased the salary of a section of its pilots by roughly 30%. (BS)

Essar Steel has achieved its highest crude steel production in March this year at 3.8 lakh tones. (BL)

Jyothy Labs is likely to rope in Apax Partners for a US$100mn funding to buy Henkel India business. (BS)

Lupin to get US FDA nod for diabetes drug. (BL)

RCom together with SBI has launched mobile banking service. (BS)

Areva T&D has bagged 2 contracts worth Rs2.9bn from Essar Projects. (BL)
Economy Snippets




Minister panel to look into FDI in Pharma sector. (ET)

Agriculture growth may cross 4% this year says Agriculture minister. (ET)

India has imposed anti-dumping duty of upto US$94.96 per ton on imports of chemical used in manufacture of alcohol and rubber from Japan and Thailand. (ET)

Union Cabinet approves setting up an empowered committee to identify technology and investors for starting two semiconductor wafer fabrication (Fab) manufacturing facility. (BS)

Power ministry seeks curbs on used equipment exports. (BL)