Daily News Roundup - July 5 2012

Reliance Infrastructure Ltd today announced that it had commissioned a 400 kV double circuit transmission line between Solapur and Kolhapur in Maharashtra. (BL) L&T Construction has secured orders worth Rs.15.23bn during June across different business segments. (BL) DHL group plans to invest close to €300 mn (in the coming years in India, according to Mr Malcolm Monteiro, CEO-South Asia, DHL Express. (BL) Telenor has sent feelers to Tata Teleservices for a possible strategic alliance. The two companies have had initial rounds of discussions and will take a final call after the rules for the upcoming auctions are clear, the sources added.(BL) Infosys has reorganised its sales structure and identified 50 major ‘star’ clients that have the potential to generate revenues of US$100 mn.(BL) NHPC has said it is generating 5-7 per cent less electricity due to the delayed rains.(BL) The oil ministry has reassured the downstream regulator that it is empowered to demand commercial data from gas utilities such as Gail India and Reliance Industries to fix marketing margins they can charge customers. (ET) Four companies, including Triveni Engineering, Elecon Engineering, Bharat Forge and a Belgian gear-box producer, have been shortlisted to buy a controlling stake in Coimbatore-based Shanthi Gears. (ET) Mahindra & Mahindra may be considering a bid for Hawker Beechcraft; the bankrupt aircraft maker, (ET) Serum Institute of India has bought Dutch polio vaccine-maker Bethloven Biologicals for about €80mn. (ET) Telecom gearmaker Huawei Technologies has sent a legal notice to the Videocon group and suspended service support to its telecom unit for non-payment of dues of about Rs.8.6bn. (ET) The Boston-based State Street Corporation is in talks with ICICI Bank, for a partnership in the securities custody business. (BS) At a time when mega industrial projects have been stalled over land acquisition row, land losers have protested against two major players- Jindal Steel & Power Ltd and Dhamara Port Company Ltd (DPCL) over rehabilitation issues. (BS) Just short of four years since its entry in the two-wheeler space, Mr Anand Mahindra has said that group company Mahindra 2 Wheelers has set a target of Rs.200bn by 2020. (BL) Italy’s largest coffee company Lavazza is considering strategic partnerships to grow its cafe chain Barista in India, a top company official said without divulging details of such partnerships. (ET) Economy Snippets Incumbent operators using CDMA spectrum may not be asked to liberalise their existing spectrum. The guideline for auctioning spectrum drafted by the Department of Telecom does not have any mention about the roadmap for liberalising CDMA spectrum. (BL) The government is likely to revive an order allowing foreign investors to own majority stakes in Indian supermarkets and department stores after the election of a new President later this month, ending uncertainty over a reform initiative that has become a talisman for policy paralysis.(ET) The telecom department (DoT) has released the initial set of rules for the upcoming spectrum auctions, even as the government looks set to miss the Supreme Court appointed deadline of finishing the sale process by August-end.(ET) The Finance Ministry has suggested lowering the proportion of bulk deposits to total deposits that state-run banks can have, a directive that could lead to higher rates for retail depositors while reducing the treasury gains of companies.(ET)