Daily News Roundup - June 9 2011

Bharti Airtel has started discussions with all its key competitors in Africa for sharing tower infrastructure and backend optic fibre networks. (BS)

ING Vysya has received approvals from shareholders to raise capital through issuance of 28.5mn shares through preferential allotment. (BS)

ONGC and GAIL are in talks to buy a part of Exxon Mobil Corp’s stake in Kazakhstan’s Kashagan oilfield. (BS)

Reliance Infrastructure has commenced toll collections in its Hosur-Krishnagiri highway project connecting Bangalore to Chennai. (BS)



Infosys has acquired the software solutions division of Gen-i, a telecom solutions provider based out of New Zealand, for a consideration of NZ$5mn. (BS)

NTPC's 1000MW Mouda power plant to begin by 2012. (ET)

Maruti Suzuki hardens its stand against striking workers at its Manesar plant, saying it will not accept their demands. (ET)

SBI is likely to complete a proposed rights issue of Rs200bn by December. (BS)

Coal India tweaks fuel supply agreement, cuts supplies. (ET)

Strike at Maruti Suzuki's Manesar plant has entered its fifth day. (BL)

Bajaj Auto and Kawasaki Heavy Industries are in discussions to take their partnership model that they have in India to other overseas markets. (BL)

IOC expects to receive the Rs110bn remaining cash compensation from the government by June-end. (ET)

Reliance Infrastructure has begun six laning operations of a four-lane, 60km stretch between Hosur and Krishnagiri. (BL)

Jet Airways and GoAir to place aircraft orders worth US$6.5 bn with Airbus SAS at the Paris Air Show later this month. (ET)

DoT orders probe into Tata Realty’s 2007 Rs17bn loan to Unitech. (ET)

Reliance Infrastructure started toll collection and widening of its Bengaluru-Chennai highway project. (ET)
Economy Snippets

The government has allowed export of an additional 1mn cotton bales in the 2010-11 crop marketing season. (BS)

The World Bank has stated that India’s growth would slow to 8.2 % this financial year as against 8.5 % in 2010-11. (BS)

The borrowings of the three government-controlled OMCs has reached an all-time high of Rs1.18tn. (BS)

EGoM on fuel price, gas allocation has been deferred. (BS)

Irda has released regulatory guidelines for mergers and acquisitions for non-life insurance companies. (BS)

Production and export of tyres registered an annual increase of 22% during FY11. (BS)