Daily News Roundup - Nov 20 2012

Hindustan Petroleum Corporation has decided to put Rajasthan ahead of Maharashtra in its refinery commissioning dates. (BL) Gamesa Wind Turbines India has bagged an order from SJVN Ltd, for the supply of 56 wind turbines of 850 kW capacities each totalling 47.60 MW. (BL) Maldivian Airlines has signed a pact with the Apollo Hospitals to give discounts to each others’ clients. (BL) Karnataka Bank has raised Rs.2.5bn by issuing 10-year, tier-2 bonds. (BL) Titan Industries Ltd aims to grow its turnover to US$2 bn by the end of this fiscal. (BL) In what could trigger a reaction from rivals, GCPL has launched single-use hair colour packs at Rs 30, far lower than the current price of similar products in the market place. (BS) Monnet Ispat and Energy Ltd (MIEL, is set to soon acquire majority stake in a 25-million tonne (mt) coal mine in Colombia. (BS) Reliance Industries is understood to have hired Arvind Rao, former managing director and chief executive of mobile value-added services company OnMobile Global, to drive its proposed fourth generation (4G) broadband services. (BS Bank of Maharashtra is targeting a minimum 50 % growth in net profit in the current financial year, a top official of the bank said. (BS) Andhra Pradesh Expressway, special purpose vehicle of IL&FS Transportation Networks, today said it raised Rs5.3bn from sale of bonds, which were snapped up by JP Morgan India, HDFC MF and Franklin Templeton MF. (ET) Jagatjit Industries, one of India's oldest distillers and makers of Aristocrat whiskey, has acquired a clutch of brands from Scotland's George Sinclair & Sons, as domestic liquor companies’ wake up to the growing appetite for scotch malt. (ET) Dr Reddy's Laboratories that it has launched Sildenafil tablets, a bioequivalent generic version of Revatio (Sildenafil) tablets in the US market. (ET) Economy Snippets The RBI has told banks not to give loans for purchase of gold in any form, including primary gold, bullion, jewellery, coins, units of gold Exchange Traded Funds (ETFs), and units of gold mutual funds.(BL) The Finance Ministry has sounded out the Reserve Bank of India (RBI) and commercial banks on the possibility of introducing a gold accumulation plan (GAP).(BL) The Land Acquisition Bill, which raised the hackles of various stakeholders, has gone through a few crucial changes days before the Winter Session of Parliament, during which it would be presented to the Cabinet. (BL) The Supreme court rejected the government’s reply to its persistent query why the entire telecom spectrum available was not auctioned on November 12.(BS)