Daily News Roundup - July 31 2012

Maruti Suzuki is planning an extensive public relations campaign to reassure potential buyers. Under this, it expects to give some clarity on the situation at Manesar and give a new tentative delivery schedule for cars that have already been booked. (BL) DLF is in advanced stages of negotiation with Lodha Developers to sell its prime land in Mumbai for about Rs.27bn and a deal is expected to be finalised shortly. (BL) Reliance Infrastructure Ltd’s special purpose vehicle, SU Toll Road Pvt Ltd announced that it has completed the Rs.10.61bn 136-km Salem-Ulundurpet road in Tamil Nadu and has commenced collecting toll charges on the road. (BL) The IVRCL Group firms have secured Andhra Pradesh High Court nod for composite scheme of merger. (BL) Future Capital has informed the Bombay Stock Exchange the open offer by US-based private equity firm Warburg Pincus for acquiring 26 % additional stake in the company was delayed, as it had not secured regulatory clearances. (BS) Four international banks have sanctioned Reliance Power US$800 mn of debt for its ultra mega power project in Sasan. (BS) GVK Biosciences said that its Ahmedabad clinical pharmacology unit had cleared the US Food and Drug Administration (USFDA) audit. (BS) Tata Motors-owned British luxury brands Jaguar and Land Rover is planning to expand its dealership network from 15 to 20, targeting tier-II cities like Bangalore, Surat and Aurangabad. (BS) Union Bank of India (UBI) said it will open 300 new branches and set up 800 ATMs across India by March 2013, besides 100 money vending machines catering to banking needs of blinds. (ET) Cholamandalam Investment and Finance Company, a part of the Murugappa Group company, has plans to foray into the affordable housing finance a, a top official said today. (ET) Coal India has included sensitive issues of price pooling for coal imports and trigger point of fuel supply agreements on the agenda of its board meeting scheduled. (ET) GAIL India Ltd will commission its LNG terminal in Dabhol, on the Indian west coast, in October or November. (ET) Economy Snippets Indo-Israeli Free Trade Agreement is likely to be completed by the second quarter of 2013, paving the way for doubling of bi-lateral trade between the two countries.(BL) Information technology industry body Nasscom welcomed the Government’s decision to constitute a panel on tax related issues.(BL) In a move to address growing concerns over radiation emanating from cellular towers, the Department of Telecom will make it mandatory for telecom companies to get technical clearance from the Telecom Enforcement, Resource and Monitoring (TERM) Cell.(BL) The Centre on Monday assured Maharashtra government that it would expedite sanctioning of clearances for the proposed Navi Mumbai airport near the country's financial capital. (ET) The government today said it has prepared contingency plans for 320 districts where monsoon rains have been poor, amidst fears of a 20 per cent shortfall in rains in August-September.(ET)