Daily News Roundup - July 5 2011

Glenmark Pharmaceuticals has settled patent infringement litigation with Daiichi Sankyo and Genzyme. (ET)

Jindal Steel and Power Ltd expects to garner about Rs7.65bn in the current financial year by selling iron ore from its Bolivian mine. (BS)

Mahindra Two Wheelers will relaunch its110cc bike Stallio by the end of this year as a first step towards extending its portfolio. (BS)

The Delhi High Court said six mobile permits of north India’s Spice Communications would not be transferred to Idea Cellular because it did not comply with licence norms and merger guidelines. (ET)

Essel Mining and Lanco Infratech are in race to participate with Coal India Ltd in developing two underground coal gasification projects in Jharkhand and Maharashtra. (BL)

Novelis Inc will set up a continuous casting line at its unit at Pieve Emanuele in Italy for US$15.8mn. (BL)

MTNL has decided to go for Rs15bn of fresh borrowings to prune existing debt and meet long-term capex requirements. (ET)

Reliance Power, Aditya Birla Group’s Essel Mining and the RPG Group have been shortlisted for final round discussions to buy a strategic stake in Australian coal mining firm, MetroCoal. (ET)

Bajaj Auto reported its motorcycle sales for June at 3,22,827 units last month, registering a jump of 14.15%. (FE)

Power Grid Corp is racing to build transmission lines for Tata Power’s ultra mega power plant in Mundra, whose first unit is ready to start generation three months ahead of schedule in the middle of September. (ET)

SREI Infrastructure is exploring the possibility of converting its 500-acre special economic zone near Kharagpur in West Bengal into an industrial park. (ET)

NCC Ltd has secured new orders aggregating Rs8.15bn, which includes a Rs2.15bn deal from Rail Vikas Nigam Ltd. (BL)

Teams from Tata Motors and JLR are looking to jointly develop engines for high-end Tata Motors’ products and JLR’s smaller entry-level products. (BS)

The Supreme Court gave the go-ahead for sale of part of the 774 acres of land in Maharashtra that belongs to Tata Communications. (ET)
Economy Snippets

TRAI has issued directives to service providers on the procedure for providing Value-Added Services to users. (BS)

Production of almost all minerals declined in April compared to a month ago, led by over 32% dip in coal output. (BS)

The Department of Posts plans to introduce core banking solution, besides setting up India Post ATMs and debit cards for its customers. (ET)

FDI inflows more than doubled to US$4.66bn in May 2011, compared to US$2.21bn a year ago. (FE)