Tata Motors, Maruti, ONGC and RIL may witness some action today

Tata Nano, billed as the world's cheapest car, entered Sri Lanka's taxi market billed as a more comfortable and safer alternative to rickety three-wheel auto rickshaws.

A strike at car maker Maruti Suzuki's Manesar plant entered its fifth day yesterday, causing a production loss of 4,200 vehicles.

ONGC has launched a massive exploration drive for gas extraction in Tripura to meet the requirement of 726 MW gas-based thermal power project at Palatana in South Tripura, which is scheduled to start power generation by December 2012.

Reliance Industries (RIL) has asked the government to withdraw restriction on movement of expats from one oil and gas block to another as the limitation was hindering its operations.

Apollo Tyres will make Dubai its operational hub for the Middle East markets with plans to invest around $1.5 million annually starting this year.

mjunction, the equal joint venture (JV) company held by Tata Steel and Steel Authority of India (SAIL), is scouting for acquisitions in lieu of expansion and has shortlisted two companies in Europe for the purpose.

Indraprastha Gas, promoted by state-run oil firms, has served a legal notice to the petroleum sector regulator for granting city gas distribution licenses in absence of key members on its board, allegedly against a recent Supreme Court order.

The Union environment ministry has asked Naveen Jindal owned Jindal Steel & Power to respond to allegations that the company had built its coal washery at Raigarh in Chhattisgarh without obtaining prior environmental clearance from the ministry.

As the government prepares to issue additional radio licenses and announce new guidelines for the sector, leading FM channel operators such as Entertainment Network India (ENIL) and Reliance Broadcast Network (RBNL) are eying acquisitions.

Viom Networks, a telecom tower JV between Tata Teleservices and the Kanoria Family, who are founders of SREI Infrastructure, confirmed its interest for Reliance Infratel's tower assets.

Private air-carrier SpiceJet will begin regional operations from Tier-2 and 3 cities like Vijayawada, Tirupati, Mysore, Mangalore, Madurai, Nagpur and Indore from mid-July using the Bombardier Q400 Next Gen turboprop aircraft.

Infosys is evaluating options to tap into UK's multi-billion government outsourcing market, as it seeks to compete better with larger domestic rival Tata Consultancy Services by increasing its share of revenues from public sector departments looking to cut costs.

Credit rating agency, ICRA, reduced Reliance Communications' long-term rating to LAA from LAA plus for its Rs 28,116 crore long-term debt and its Rs 5,000 crore non-convertible debenture programme.

Nirma’s delisting of its equity shares from stock exchanges has been kept in abeyance until further notice from market regulator SEBI, following which its exit offer to shareholders has also been deferred.

Infrastructure and real estate company Atlanta was expecting up to 60% growth in revenue as well as net profit year-on-year for the next five years on the back of healthy order book.

Pune-based Garware Motors is looking to forge a joint venture to manufacture the Hyosung range of bikes here in India with Korean S&T Motors Corporation within the next two years.

Jindal Synfuels (JSFL), a subsidiary of Navin Jindal managed JSPL, plans to set up a Coal to Liquid (CTL) plant with an overall capacity of 80,000 barrels per day (bpd) equivalent of key oil products such as Diesel, Naphtha, and LPG near Augul where JSPL is coming up with a steel plant.

The State Bank of India, which shocked investors with a 99% plunge in quarterly earnings, will scrap the annual interest rate reset clause on all loans and move to uniform base rate-linked payments to smoothen out the fluctuations in its profitability.

Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016.

Shopper's Stop is planning to raise prices of private labels by 10-12% from July 1, 2011. Recently, the company wholly owned subsidiary --Crossword Bookstores-- opened up one 'Crossword' franchisee store at Udaipur.

RPG Group company CESC Ltd has inked a deal to pick up a 4.8% stake in Australia- listed mining company Resource Generation for $10 million.

MindTree Unveils Bluetooth Solutions Suite for In-car Health Applications.

Companies like Ajmera Realty, KLK Industries, Shikhar Leasing & Trading and Sukhjit Starch & Chemicals are going to announce their results today.

Mahindra Satyam, Cairn, Hindalco and Titan Industries to hog the limelight todayI

In a major setback to Mahindra Satyam, the Andhra Pradesh High Court asked the company to issue bankers' cheques worth Rs 350 crore to the Central Board of Direct Taxes (CBDT). The company was also asked to provide an unconditional bank guarantee worth Rs 267 crore to the tax authorities.

In a blow to Cairn Energy, the government's law officers have held that Edinburgh-based firm needs state-owned ONGC's consent to sell its majority stake in Cairn India to Vedanta Resources.

AV Birla Group's flagship company Hindalco is planning to raise Rs 8000 crores for Aditya Aluminium project. The fund raising is expected to close in Q1FY12. This comes soon after the financial closure of the Mahan project. Hindalco is on a fund raising spree to put all their domestic projects on a fast track.

Indian Oil Corp (IOC) plans to shut a kerosene unit at its Haldia refinery for maintenance from mid-April, prompting the firm to float a rare jet fuel tender.

Tanishq, the jewellery retail chain arm of Titan Industries, under Tata Group, is planning to invest around Rs 150-200 crore for setting up around 15 showrooms in various parts of the country in next fiscal year.

National Aluminium Company (Nalco) is likely to increase the price of the metal by Rs 2,000-3,000 a tonne with effect from April, in sync with firming global prices.

In a bid to increase its footprint, the country's second largest lender HDFC Bank opened 275 branches in the current fiscal taking its total network to 2,000.

Pune-based chemicals maker Deepak Fertilisers and Petrochemicals Corp said on Wednesday it would invest about $350 million to set up a technical ammonium nitrate (TAN) manufacturing unit in Australia, pushing its shares up more than 4%.

Indian Oil Corporation and Engineers India have placed order with Fernas Construction India worth Rs 300 crore for laying of pipelines and composite works for south jetty pipeline project.

Religare Commodities (RCL), a wholly-owned subsidiary of Religare Securities ( RSL ), was awarded the prestigious award for the 'Best Commodity Broker of the Year' at the recently-concluded Bloomberg UTV's Financial Leadership Awards 2011 - The Final Word in Money.

Cognizant, which counts Walmart among its top retail customers, has doubled its revenues from the segment in the last two years, and is set to challenge rivals like TCS, Infosys in increasing business from top retailers in the world.

US listed software firm iGate's open offer for 20.6 per cent in India's Patni Computer Systems will open on April 8 and close on April 27.

Bharti Airtel, Vodafone Essar and Idea Cellular are close to signing an agreement to share their third-generation radio bandwidth.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Galantamine Tablets USP 4mg, 8mg and 12mg.

Nexxoft Infotel has decided to sell 30% of its stake in Elsoft Technologies at a cost of Rs 20 per share. The company holds a total of 75% stake held in Elsoft Technologies out of which it has decided to sell 30% of its stake.

AP Paper Mills, M&M, Ashok Leyland and Tata Global Beverages to hog limelight today

Paper sector is likely to be in limelight today, as in a surprising deal International Paper Company, the US based paper and packaging giant, has bought 53.5% in Andhra Pradesh Paper Mills from its promoters for around Rs 1160 crore, the valuation comes well over 175% from its closing in previous session.

Mahindra & Mahindra plans to take 100 of its top vendors to South Korea in May as it aims to integrate sourcing operations and launch Ssangyong's products in India.

Tata Motors, the owner of Jaguar Land Rover, will invest around 50 million pounds in its research & development base in the Midlands over the next two years, in a vote of confidence for UK manufacturing.

After three years of joint working, Ashok Leyland Nissan vehicles, the 50:50 JV between ALL and Nissan Motor, has unveiled its first light commercial product, 'Ashok Leyland Dost'. The 1.25 tonne payload capacity vehicle is to hit the market in the second quarter of 2011-12.

PepsiCo India's joint venture with Tata Global Beverages is set to launch a glucose-based beverage next week. Lehar Gluco Plus, a lemon-flavoured , noncarbonated drink, will be rolled out in pockets of Maharashtra through a pilot project and will be priced at Rs 5.

India's Oil and Natural Gas Corp may skip April naphtha exports from Hazira port for the third month in a row due to a delay in start up of a mooring facility.

US-based International Paper said it has entered into agreements with the promoters of Andhra Pradesh Paper Mills (APPM) to buy their 53.5 per cent stake for USD 257 million (nearly Rs 1,150 crore).

Close on the heels of closing Rs 60-crore securitisation deal with a non-banking financial company (NBFC), SKS Microfinance - the largest microfinance institution in the country - has completed another deal worth Rs 550 crore with two banks.

The Reserve Bank of India (RBI) has questioned the valuation and structure of the high-profile deal cut by private lender Axis Bank last November to buy Enam Securities-an influential Dalal Street brokerage and investment bank.

Hero Honda and Bajaj Auto, the two largest motorcycle manufacturers in India, are getting embroiled in a battle for the fast-growing premium two-wheeler business. The BM Munjal group company wants to step up efforts to counter falling market share in the premium segment.

India's premier bank, State Bank of India, inaugurated its first affordable housing loan cell in Mumbai, which will provide a platform for its customers to interact with the bank.

Kerala-based Muthoot Fincorp, the flagship company of the Muthoot Pappachan Group, announced its foray into the housing finance segment after securing licence from National Housing Bank (NHB).

At a time momentum is building to allow foreign players into front-end retail, Future group and Walmart have met at least five times in the past four months, raising the possibility of an alliance between India's largest retailer and the world's largest retailer. If the alliance fructifies, it could reconfigure organised retail in India.

The Cabinet Committee on Economic Affairs approved a proposal for Rs 4,500 crore foreign direct investment (FDI) in Hero Investments, one of the main shareholders in the country's largest two-wheeler maker Hero Honda, by two private equity firms.

Computer maker HCL Infosystems announced its foray into the tablet space, with launch of its ME range of tabs starting at Rs 14,990.

India's largest IT exporter Tata Consultancy Services (TCS) will expand operations in Europe in sectors like healthcare.

Tata Chemicals introduced its water purifier brand 'Tata Swach' in the Gujarat market as a part of the week long celebrations post the World Water Day.

Hyderabad-based Aurobindo Pharma is going in for large-scale automation of its manufacturing processes as part of a corrective action plan to reduce manual intervention.

With an aim to increase the productivity and an income of farmers, the major agro chemical and Seeds Company in the country- United Phosphorus (UPL) has taken a novel initiative for farmers since the past one year.

Alpine Global Premier Properties Fund, a diversified, closed-end management investment company, today bought around 426,000 shares in Chennai-based Orchid Chemicals & Pharmaceuticals.

Housing Development Finance Corp plans to raise at least 2.5 billion rupees through 5-year bonds at 9.6 percent. The issue opens and closes on April 7 and ICICI Bank is the sole arranger of the deal.

Hotel Leelaventure will invest Rs 100 crore to upgrade its property in Goa this year and is looking to expand presence in India by opening new company-owned properties and taking up management contracts.

Japan's NTT DoCoMo is to buy into Rs 3,000 crore rights issue by Tata Teleservices, set to be announced this week.

Broadcasting majors STAR India and NDTV Group have signed a pact, where STAR India's ad sales team will now handle the advertising sales function of NDTV news channels.

Karur Vysya Bank is in the process of opening its three new branches at Tirupattur and Chengam in Tamil Nadu and Ramanagara in Karnataka.

Energy Development Company in consortium has bagged contract worth Rs 20 crore for design, detailed engineering, manufacturing, supply, erection, testing, commissioning and putting into commercial use of turbine, generator and associated equipment in respect of Kumbhe Hydro Electric Project (1 x 10 MW) from the Government of Maharashtra.

Public sector lender United Bank of India on announced that it will foray into merchant banking and loan syndication business by this year-end.

TCS, Infosys and Engineers India to witness some action today

Shanghai Rural Commercial Bank in China selected Tata Consulting Services' (TCS) core banking solution Bancs to achieve competitive advantage by introducing new products and manage transformation.

Film content developer and aggregator, Eros International Media, is eyeing 35% growth in its bottomline for FY12 as it will focus more on profitability than its top line.

Improper evaluations by ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC) while investing in assets abroad has resulted in a losses of nearly Rs 2,300 crore, the government auditor CAG said.

Kotak Mahindra Bank launched Interbank Mobile Payment Service (IMPS) for its customers. With this facility, customers will enjoy 24x7 instant funds transfer, thereby enabling the beneficiary to avail of the credit immediately.

Infosys Technologies is planting the seeds for a long-term IT services play in the African continent.

In its maiden foray into the fertiliser sector, state-owned Engineers India will take up equity in the Rs 4,000 crore revival of the Ramagundam urea plant in Andhra Pradesh.

The Environment Ministry's expert appraisal committee has given conditional permission to Lavasa Corporation to complete pending construction work on 257 residential buildings in the 3,000-crore planned hill station township. The incomplete buildings are located in a 614 hectare area of the proposed hill town.

Steel pipe maker PSL will commission its second pipe mill of 75,000 tonne a year capacity at Sharjah in May as the company is anticipating strong demand from West Asia in the coming months.

Aegis Logistics has issued 6.3 per cent stake to private equity fund Infrastructure India Holdings Fund LLC on a preferential basis.

The Central Bank of India plans to raise Rs 2,500 crore through a rights offering at a discount to the market price as its dominant shareholder, the government, sets about infusing capital in state-run banks.

Bharti Airtel, India's top telecoms carrier, has no immediate plans for an initial public offering of its telecoms tower unit.

Bhilai Steel Plant (BSP), the flagship entity of the Steel Authority of India (SAIL), has bagged a fresh order of exporting rails to Sri Lanka.

Tanishq, the jewellery retail business of the Tata group, is planning to invest around Rs 150-200 crore in setting up around 15 showrooms in various parts of the country in the next fiscal year.

PowerGrid Corporation of India (PGCIL), the country’s largest power transmission utility, will submit a revised offer for consultancy project in Nigeria and expects to finalise a deal in the next two to three months.

Less than a year after 'Munni Badnaam Hui' song helped pushed Zandu Balm sales, Emami wants something similar for its Himani Navratna extra thanda hair oil, and it's funding the entire cost of a Bhojpuri film song that will mention the brand.

Tulip Telecom promoter firm Cedar Infonet has increased stake in the company to 33.16%.

GAIL (India) has set a target of transmitting 118.2 mmscmd of natural gas from domestic sources and through LNG route during FY 2011-12 under the annual memorandum of understanding signed with Ministry of Petroleum & Natural Gas for performance targets for the financial year 2011-12.

Usha Martin has raised $125 million via external commercial borrowing [ECB] from State Bank of India as sole mandated lead arranger and book runner with DBS Bank, State Bank of India [Canada] and The Bank of Tokyo - Mitsubishi UFJ as other participating lenders.

BHEL has won a contract from PowerGrid Corp along with Swedish firm ABB for supplying equipment for the construction of a transmission link

Mahindra & Mahindra, country's largest utility vehicles maker, will invest more than Rs 300 crore in a new tractor plant in Andhra Pradesh.

Greycells Education flagship brand EMDI Institute of Media and Communication (EMDI) receives the 'Chanakya Awards - 2011' for 'Business Communication School of the year' from Public Relations Council of India (PRCI).

Reliance Power, GMDC, Unitech and Zuari Industries to witness some action today

Reliance Power is in advance stage of tying up debt of Rs 7,000 crore for financing its 2,400 MW gas-based power project at Samalkot in Andhra Pradesh.

Amidst opposition from some quarters on the proposal of the Gujarat Mineral Development Corporation (GMDC) to carry coal from the Naini coal block in Orissa to meet the requirement of Torrent Power and Adani Enterprises, the state steel & mines department has given its go-ahead for the proposal.

Swiss engineering group ABB has clinched a $900 million order -- its largest single order ever -- from the Power Grid Corporation of India to deliver an ultrahigh-voltage transmission system.

Fertiliser-maker Zuari Industries is in the process of acquiring land to set up a Rs 5,000 crore gas-based urea plant in Karnataka with an annual capacity of 1.3 million tonnes a year.

Cairn, whose $9.6-billion stake sale in its Rajasthan oilfields to Vedanta has run into a roadblock, appears to have turned the tables on partner Oil and Natural Gas Corporation in their joint venture in the Krishna Godavari basin

Realty firm Unitech has sold over 300 units worth Rs 200 crore in its mid-income housing project at Gurgaon launched last week.

The Saroj Poddar-led group of companies, which include Zuari Industries and Texmaco unveiled a new group identity, Adventz Industries India.

Texmaco Rail & Engineering is in talks with a Japanese consortium for an equal joint venture to make suburban train coaches.

India's biggest gas transportation firm Gail India has endorsed petroleum sector regulator's proposal allowing pipeline companies to charge tariffs lower than approved rates but the move has been opposed by Reliance Gas Transportation.

Aditya Birla Financial Services Group (ABFSG) has beefed up its investment team at Aditya Birla Private Equity, naming Amitvikram Sharma as additional Investment Director.

Nippon Life’s plan to buy a stake in Reliance Life may be delayed as the deal requires special permission from the government.

The country’s largest power producer National Thermal Power Corporation (NTPC) has commissioned unit 6 of 500 MW of Farakka Super Thermal Power Station.

Agre Developers will be enhancing its presence in the realty sector. The company’s board of directors for this has authorized a committee of directors to consider suitable proposals for strategic acquisitions through such mode, for consolidating the company's presence in real estate development.

Goldman Sachs cut its 12-month target price on Reliance Communications by 26 per cent to Rs 115, citing reduction in the company's core business value.

Maruti, Hero Honda, M&M and Vascon Engineers may hog the limelight today

The country's largest car maker Maruti Suzuki India will consider taking different measures after April to protect its margins due to fluctuation of Japanese Yen, post the devastating earthquake and tsunami.

Honda and the Hero group have ended their joint venture. However, they have signed an agreement under which Honda will give technology for new and upgraded bikes to Hero in return for royalty till June 2014.

In a major fillip to industrialisation in the backward Telangana region, Mahindra and Mahindra will set up its tractor manufacturing unit at its existing facility at Zaheerabad in Medak district of Andhra Pradesh.

Cairn Energy Plc raised expectations of Indian approval for the long-delayed sale of a stake in its Indian business to Vedanta Resources, as the UK oil explorer posted a return to profit in 2010.

The Aditya Birla Group's plans to re-enter the power sector have had a setback, as its move to buy into a Chhattisgarh-based power unit has fallen apart. AB Group is very close to purchasing Sona Power, which had plans of putting up a 660-Mw power project in Chhattisgarh.

India's top iron ore miner NMDC expects to renew soon a five-year iron ore contract with Japanese customers which expires at the end of March. The state-owned miner plans to build steel plants in India, has moved closer in its bid to acquire a coal mine in the US.

A fluid catalytic cracker (FCC) at India's Reliance Industries' old plant could start product output from today.

The need for raw material integration for its European operations is keeping Tata Steel officials busy. The company has initiated talks with the government of British Columbia, a Canadian province, to acquire coking coal mines.

Monnet Ispat & Energy, flagship Company of the Monnet Group, has bought a 65-million tonne coal mine in Indonesia for $24 million (Rs 290 crore). And, it is in talks to buy another coal mine, besides looking to set up power plants, in that country.

A consortium of Lanco Infratech and US-based Massey Energy Company, emerged as the lowest bidder for a power project by Maha Tamil Colleries.

Kotak Realty Fund, the property investment arm of India's Kotak Mahindra Bank, plans to raise as much as $500 million by the second quarter of this year, in a bet on the long term case for property in Asia's third-largest economy.

BILT, the country’s largest producer of writing and printing paper, plans to raise $330 million from London Stock Exchange, through a book building process and making offer to select institutional investors.

China's Yanzhou Coal Mining Co and India's Aditya Birla Group are among parties preparing to submit second-round bids for Australian coal miner Whitehaven Coal, which is seeking offers of more than $3.5 billion.

Chennai-based information management solutions provider Saksoft has signed an agreement with US-based analytics and decision management technology firm Fair Isaac Corporation (FICO), to market the latter's solutions in India.

Indian drugmaker Elder Pharmaceuticals plans to raise 1.05 billion rupees through 7-year bonds at 11.25 percent.

Arvind International’s board has approved the right issue price at Rs 13.50 per equity shares. The approval was granted at its meeting held on March 22, 2011.

Vascon Engineers has secured two contracts worth aggregating Rs 241 crore.The company bagged first order worth Rs 131 crore for construction of miscellaneous building for ESIC at MGM in Mumbai. However, the second order worth Rs 110 crore is for carrying out civil work for residential project in Chennai.

Jindal Saw is in talks to acquire a logistic firm that operates container trains and owns terminals for about Rs 100-150 crore. The deal is likely to be closed in three months, officials stated.

Reliance Communications, India’s largest integrated telecom operator announced the launch of free website package for all its Netconnect users.

Zylog Systems' board of directors, have given their approval for the expansion plans of the WiFi business of the wholly owned subsidiary - Zylog Systems (India).

Acropetal Technologies has entered into definitive agreements to acquire 100% equity in Line Beyond Inc and 70% of the equity in Optech Consulting Inc for a consideration of $ 4.90 million each.

Bafna Pharmaceuticals has signed an agreement with NR Jet, an affiliate of Johnson & Johnson, for the acquisition of the TradeMark --RARICAP-- and the transaction is expected to be closed by the first week of April 2011. 

Kingfisher Airlines, RCom, Monnet Ispat and United Spirits likely to witness some action today

Both lenders and promoters will pick up equity in debt-laden Kingfisher Airlines at a substantial 64% premium to its current market price by March 31 if the company keeps its commitment on timelines earlier agreed upon.

FMCG player, Elder Health Care, has decided to give more focus to building its own brands and has lined-up about half-a-dozen launches this year.

Bharati Shipyard plans to focus strongly on the offshore and defence segments and expects over Rs 2,000-crore of orders over the next one year.

Monnet Ispat and Energy has bought a 100-million tonne coal mine in Indonesia. The company has been in serious talks for the past 5 months to buy a 100-million tonne thermal coal mine in Indonesia. The acquisition is now complete and the announcement will happen on Monday.

Air conditioner maker Voltas has signed an agreement with Germany-based Kion Group to establish a joint venture in India for developing and servicing industrial trucks and warehousing equipment.

The finance ministry said that the government should not arm-twist Cairn Energy by linking the approval of the $9.6-billion Cairn-Vedanta deal with disputes between the British explorer and its estranged partner, ONGC. At a time when the episode of Cairn's acquisition by Vedanta is unfolding, the shareholders of the petroleum explorer are facing a confusing predicament. With crude oil prices soaring above $100, a number of broking houses are valuing Cairn's shares at Rs 420 or higher apiece.

Vijay Mallya-led United Spirits (USL) will invest around Rs 600 crore to set up glass manufacturing plants, as the world's largest liquor firm by volume tries to rein in volatile input costs.

State-run Rural Electrification Corporation (REC), plans to raise around $ 1-billion in 2011-12 through a corporate bond issue in the USA.

Consumer products major Procter & Gamble’s (P&G’s) recent move to slash prices of its hygiene products, Whisper and Pampers, is likely to push its rivals to take price cuts soon.

With the Centre’s clean energy cess on coal, Coal India (CIL) is set to pay a little over Rs 2,150 crore on it. The cess is expected to put additional burden on consumers.

Ansal Properties & Infrastructure has booked sales of about 2.92 million sq ft, aggregating to sale value of about Rs 294 crore in the month February.

BF Utilities’ all transactions in relation to the FDI in Nandi Economic Corridor Enterprises (NECE) have been recently completed by NECE.

Corporate giant, Reliance Power has got five out of the 18 hydropower projects for which global bids were invited by the Himachal Pradesh.

Union Bank of India has entered into an agreement with Lintas Media Group for a period of two years from October 01, 2010 to September 30, 2012. As per the agreement, Lintas Media will develop, plan and implement media strategy for the bank.

State Bank of India (SBI) has raised around Rs 150 crore through 3 months certificates of deposit (CDs)  at 9.75% and Rs 820 crore via one year CDs at 9.95%.

HDFC Bank, second largest private bank in the country, has inked an agreement with Shri Jirawala Parshwanath Chowis Tirthankar Trust for offering online donation.

Reliance Communications' plan to sell its 50,000 towers asset faces a set back as American Tower Corporation (ATC) is not eyeing these towers. There was an increased speculation that Reliance Communications was being wooed by players to pick up the company’s asset with US headquartered - ATC one among them.

Hindustan Motors (HML), India’s pioneering automobile manufacturing company is set to get its most radical makeover of Ambassador in the six decades of its history.

Spectacle Infotek, a leading provider of software development and support services, has successfully completed implementation of its software to various professional colleges and schools.

Tata Group’s arm Titan Industries (TIL) is likely to enter Indonesia by July this year as a part of overseas expansion plans and it is also looking to appoint local partner in the country.

Engineering solutions company Hindustan Dorr-Oliver (HDO) has received orders worth Rs 54.64 crore from Nuclear Power Corporation of India, or NPCIL, for manufacture and supply of process equipment, namely, emergency condensers and D20 exchangers for its Kakrapar Atomic Power Project in Gujarat and Rawatbhatha Atomic Power Project in Rajasthan.

M&M, Bharti Airtel, HCL Infosystem and Monnnet Ispat likely to witness some action today

Utility vehicle major Mahindra & Mahindra (M&M) plans to focus on developing the Ssangyong brand. M&M plans to give the highest priority to product development as the Korean SUV majors' pipeline of products is not very strong.

The National Pharmaceutical Pricing Authority (NPPA) has increased prices of 62 drugs, which are mainly based on indigenously manufactured insulin. The companies which would be affected by the price revision of drugs include Eli Lilly, Pfizer, Novartis, Sanofi Aventis, GSK, Biocon, Wockhardt, Lupin and Cipla

The National Pharmaceutical Pricing Authority (NPPA) today said it has increased prices of 62 drugs, which are mainly based on indigenously manufactured insulin

Tata Group's consumer durables firm, Voltas, plans to hike prices of its air-conditioners by another three per cent in April, the second this year, to offset the rise in metal prices it consumes.

Hindustan Petroleum Corporation (HPCL) will add new facilities at its Vizag refinery to convert low-value heavy oils into premium products, which will significantly increase refining margins.

In a bid to end fuel woes of power plants in Andhra Pradesh, state-owned gas utility GAIL India will supply gas to the electricity generating units by swaping Reliance Industries' KG-D6 gas with LNG imported.

Monnet Ispat is close to acquiring a coal mine in Sumatra, Indonesia. Acquisition of the coal mine may be completed by this week.

Bangalore-based biotechnogy firm Biocon's drug development partner Optimer has received US patent for drug Fidaxomicin. The drug is used to treat diarrhea and intestinal diseases.

Retail food chain company McDonald's India has joined hands with Indian Oil Corporation (IOC) to increase its presence in petrol stations in West and South and aims to more than double its sales by 2014 from both these regions.

Bharti Airtel is likely to buy yet-to-be-launched Indian wireless broadband business of Qualcomm. The US-based chip maker is set to be in an advanced stage of discussions with the country's largest telecom operator to sell its BWA licenses in all four circles.

Anil Ambani group firm Reliance Communications has drawn the first tranche of Rs 3,000 crore ($665 million) from China Development Bank.

Jubilant FoodWorks that operates Dominos Pizza chain in India plans to diversify into new areas, including operating hotels and other non-food segments such as garments and fashion accessories.

FMCG player Jyothy Laboratories is eyeing a controlling stake in Henkel India after acquiring 14.9 per cent stake in the company from Tamil Nadu Petro Products (TNPL).

Sundram Fasteners, part of the TVS group, will make its biggest capital investment in 2011-12 in an attempt to target the wind energy and automotive segments with new products.

The coal assets of one of Australia's largest thermal coal explorers - Bandanna Energy - in a deal could be valued at $1.5 billion. GVK, state-owned consortium ICVL and Reliance Power have shown early interest in bidding for the assets estimated to have reserves of over 1.3 billion tonnes of thermal coal.

ONGC India is expected to face a 'hard' market when it approaches international underwriters next week to renew its $28.5 billion insurance policy. ONGC is the holder of the biggest insurance policy in India.

IT hardware firm HCL Infosystems has bagged an order from the Indian Air Force to deploy Wideband CDMA-based portable wireless network at a cost of over Rs 300 crore.

Banks have committed to refinance nearly half of the Rs 9,500-crore debt on the books of Ispat Industries.

In its first open-market transaction in India, Blackstone, the global private equity major, has bought a two per cent share in India’s largest travel wear manufacturer, VIP Industries, which is valued at Rs 36-40 crore.

United Phosphorus  (UPL), one of the leading agro chemical and seeds company in the country, has set the target of doubling its agro chemical business in India from the present Rs 900 crore to Rs 1,800 crores in the next three years time (by FY 2013-14).

Venus Remedies, an existing EU-GMP certified Pharmaceutical manufacturing company, has been awarded a Gulf Cooperation Council (GCC) registration. This approval holds significance and is prestigious since such registrations are obtained by the manufacturing facilities which meet world class standards and where quality is of the prime essence.

Allcargo Global Logistics plans to enter third-party logistics business in a few months and expand its warehousing capacity to 400,000 sq ft.

Power Grid Corporation of India’s board of directors granted their nod for three investment approvals.

Reliance Infrastructure (R-Infra) has secured a contract worth Rs 7,200 crore for 2,400 MW gas based combined cycle power project at Samalkot.

Hindustan Construction Company (HCC) has received two orders from Hindalco Industries for 6 x 150 MW Captive Power Plant - Aditya Aluminium Project at Sambalpur, Orissa.

Jyothy Lab, TVS Motors, Biocon and P&G to garner investor’s attention today

Mumbai-based Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products for Rs 60.73 crore in an all-cash deal.

Chennai-based Ashok Leyland Defence Systems (ALDS) has entered into a tie up with Krauss-Maffei Wegmann (KMW) GmbH and Co KG, Germany, to co-operate in developing advanced defence systems for Indian defence establishment as well as other defence forces worldwide.

Hero Honda has set aside a kitty of Rs 100 crore to create a new brand identity that will lead to a new company name and corporate logo to be etched on every bike and scooter it sells in the Indian market. The promoter of Hero Honda, Hero Investments (HIPL) has pledged further shares of the company to IL&FS Trust Company, raising an estimated Rs 200 crore.

The country’s third largest two-wheeler manufacturer, TVS Motors, is mulling a low-priced motorcycle to shore up volumes in the Indian market. The product, when introduced, would be the cheapest motorcycle in the country.

SKS Microfinance will raise additional funds from banks, a move likely to help it tide over liquidity shortage.

FMCG giant Procter and Gamble (P&G) is reducing the price of its sanitary napkins and baby diapers by up to 15 per cent as a result of the excise duty cut announced during the recent Union Budget.

FMCG major, Nestle India will not only be undertaking selective price hikes but will also be reducing the weight for its chocolate products in order to combat rising raw material costs.

Retail chain Shoppers Stop may increase prices of its products by 6-7 per cent from April this year in order to offset the 10 per cent excise duty imposed on branded apparel in the Budget 2011-12.

As per the government - Idea Cellular, Etisalat and state-owned BSNL subscribers are facing the problem of frequent call drops and they are not meeting the TRAI benchmark regarding it.

State-run Coal India (CIL) is negotiating 10-year contracts with overseas suppliers in an attempt to insulate Indian consumers from any volatility in global coal prices.

Hindustan Zinc (HZL), the world's largest integrated producer of zinc, has paid Rs 995 crore as advance tax in the current fiscal year, which is 35% higher than that last year.

The drug price regulator has allowed local pharma companies Wockhardt and Biocon to increase prices of their insulin brands due to rising input costs.

Kolkata-based consumer goods firm Emami has appointed Indian cricketer Mahendra Singh Dhoni as the brand ambassador for its digestive tonic -- Zandu Pancharishta.

Tata Group's hospitality firm Indian Hotels Company subsidiary Roots Corporation will sell a minority stake to the Singapore based Omega TC Holdings for Rs 150 crore.

Kingfisher and Paramount are defaulting airlines in payment to the Airports Authority of India for services including landing charges, parking and housing charges and licence fees for space/land allotments.

Delhi-based real estate company, Parsvnath Developers is close to selling stake in its Parsvnath City project in Sonepat for Rs 100 - 150 cr.

IT Solutions provider, 3i Infotech is all set to sell its US subsidiary, Regulus for $100 million. The deal is expected to be closed within the next 3 months.

The country’s largest fast moving consumer goods (FMCG) company, Hindustan Unilever (HUL), is using ‘out-of-home’ aggressively to grow its foods business. Out-of-home here means initiatives undertaken beyond just selling products.

Nine bidders, including JSW Energy-Leighton Contractors and GVK-Samsung consortia, are in the race to develop the Rs 3,000-crore Tadadi port project in Karnataka.

Country's largest lender State Bank of India (SBI) has raised Rs 5,496.9 crore from retail bonds to fund its expansion plans. State Bank Of India had accorded approval for raising Tier II Capital for an aggregate amount of Rs. 10,000 crore.

German multinational Siemens has set-up a financial services arm Siemens Financial Services (SFSPL) in India.

The world's seventh-largest steelmaker - Tata Steel has decided to raise money by selling Rs 1,500 crore ($332 million) of perpetual bonds. The Tier-I bonds carry a coupon of 11.8 per cent payable semi annually.

Telecom service provider Reliance Communications has partnered with mobile solutions provider TELibrahma to deliver video updates and replays from the ICC World Cup Cricket matches on mobiles for all cricket lovers.

ARSS Infrastructure Projects has signed the concession agreement with Commerce and Transport Dept, Government of Orissa for development of modern bus terminal at Baramunda in Bhubaneswar through Public Private Partnership (PPP) mode.

Educomp Solutions’ ICT division has bagged two multimedia content development projects totaling Rs 6.81 crore from the Government of Gujarat and Assam.

Bartronics spurts on securing members nod for fund raising 29/12/2010

The announcement was made after market hours on Tuesday, 28 December 2010.
Meanwhile, the BSE Sensex was up 64.70 points, or 0.32% to 20,090.12
On BSE, 9.09 lakh shares were traded in the counter
The stock hit a high of Rs 96.25 and low of Rs 92.80 so far during the day. The stock had hit a 52-week high of Rs 187.05 on 8 February 2010 and a 52-week low of Rs 72.10 on 20 December 2010.
The company has an equity capital of Rs 34.05 crore. Face value per share is Rs 10.
Bartronics Indias shareholders at an annual general meeting held on 28 December 2010 approved raising funds through global depository receipts or American depository receipts or foreign currency convertible bonds or foreign currency exchangeable bonds, or any such instrument.
Bartronics Indias consolidated net profit declined 53% to Rs 16.54 crore on 28.20% rise in net sales to Rs 224.09 crore in Q2 September 2010 over Q2 September 2009. 

Gayatri Projects builds on new order win 29/12/2010

Shares of Maytas Infra surged 4.16% to Rs 185.10.
Gayatri Projects announced the new order win during trading hours today, 29 December 2010.
Meanwhile, the BSE Sensex was up 91.55 points, or 0.46%, to 20,116.97.
On BSE, 36,184 shares were traded in the counter compared with average volume of 28,698 shares over the past two weeks.
The stock hit a high of Rs 339 and a low of Rs 320.40 so far during the day.
Gayatri Projects net profit rose 6.7% to Rs 11.74 crore on 12% rise in net sales to Rs 280.48 crore in Q2 September 2010 over Q2 September 2009. 

Ambuja Cements allots equity shares 29/12/2010

The committee of Ambuja Cements in its meeting on 17 December 2010 has allotted 3,000 equity shares of face value of Rs. 2 each out of the shares kept in abeyance in the rights issue of 1992.
Further, the committee has allotted 11,77,200 equity shares on exercise of the stock options by the employees under ESOS. 

Opto Circuits (India) to announce Q3 results 29/12/2010

The board meeting of Opto Circuits (India) will be held on 18 January 2011 to consider the un-audited financial results of the company for the quarter ending 31 December 2010 (Q3).

KPIT Cummins spurts after bulk deal 29/12/2010

Meanwhile, the BSE Sensex was up 44.86 points, or 0.22% at 20,070.28
A bulk deal of 7.94 lakh shares was executed on the KPIT Cummins Infosystems stock at Rs 144.30 per share at 09:18 IST on the BSE.
On BSE, 9.44 lakh shares were traded in the counter. The stock hit a high of Rs 148.95 and a low of Rs 142.95 so far during the day.
KPIT Cummins Infosystems consolidated net profit rose 22.67% to Rs 23.75 crore on 13.98% increase in net sales to Rs 234.95 crore in Q2 September 2010 over Q1 June 2010. 

Surya Pharmaceutical acquires ActivOn 28/12/2010

Surya Pharmaceutical has acquired ActivOn, a leading OTC analgesic drug brand in the USA, with global marketing rights. The brand comes with the acquisition of Ameshire Investment Corp, USA through its 100% subsidiary based out of Singapore. The company has funded the investment of US$ 22 million through a mix of internal accrual and debt financing from EXIM Bank.
ActivOn is a leading OTC analgesic brand in the topical analgesic category in the US market, It is used to provide relief of joint and muscle pain associated with arthritis, backache, strains, bruises and sprains. Through the acquisition, the company also adds to its portfolio brands namely, Preferon, Firston and Renewin. The company would also have the global marketing rights for Headon another leading brand, except USA.
The company made this announcement during the trading hours today, 28 December 2010. 

Lanco Infratech gains on plans to hive off power business 28/12/2010

Meanwhile, the BSE Sensex was up 6.43 points, or 0.14%, to 20,035.36.
On BSE, 1.60 lakh shares were traded in the counter compared with the average volume of 6.54 lakh shares in past one quarter.
The stock hit a high of Rs 64.70 and a low of Rs 62.80 so far during the day. The stock had hit a 52-week high of Rs 74.70 on 24 August 2010 and a 52-week low of Rs 40.80 on 5 February 2010.
The large-cap stock had underperformed the market over the past one month till 27 December 2010, rising 1.72% compared with the Sensexs return of 4.66%. It had also underperformed the market in past one quarter, declining 9.06% as against 0.44% fall in the Sensex.
The company has an equity capital of Rs 240.78 crore. Face value per share is Re 1.
As per reports, Lanco Infratech has an operational power generation capacity of 2,100 megawatts (MW) under eight special purpose vehicles (SPVs). It plans to raise its capacity to 4000 MW by 2011 and subsequently to 15000 MW by 2015, reports added.
Lanco Infratech is primarily into power and road projects with the power business currently accounting for over half of the companys revenue.
Lanco Infratechs consolidated net profit declined 42.5% to Rs 70.45 crore on 6% rise in net sales to Rs 2041.74 crore in Q2 September 2010 over Q2 September 2009. 

Gujarat NRE Coke allots equity shares & warrants 28/12/2010

The committee of Gujarat NRE Coke in its meeting on 27 December 2010 has allotted 6 crore convertible warrants to promoters/ promoter group company on preferential/ private placement basis at Rs. 62.50 per share.
Further, the committee has allotted 1,02,525 equity shares of Rs. 10 each and 10,252 B equity shares of Rs. 10each (towards bonus) under Employee Stock Option Scheme, 2005.
Consequently, the paid-up capital of the company has increased from Rs. 557.86 crore to Rs. 557.97 crore.

BF Utilities extends gains on signing Rs 500-crore FDI for unit 28/12/2010

The announcement was made after market hours on Friday, 24 December 2010. Boosted by the announcement, the stock had jumped 7.65% to Rs 908.90 on Monday, 27 December 2010.
Meanwhile, the BSE Sensex was up 28.14 points, or 0.14%, to 20,057.07
On BSE, 2.92 lakh shares were traded in the counter as against an average daily volume of 1.68 lakh shares in the past one quarter.
The stock hit a high of Rs 940 and a low of Rs 906 so far during the day. The stock had hit a 52-week high of Rs 1431.80 on 7 January 2010 and a 52-week low of Rs 652 on 10 December 2010.
The mid-cap firm has an equity capital of Rs 18.83 crore. Face value per share is Rs 5.
On Friday, 24 December 2010, BF Utilities said the board of directors of the company and its subsidiary Nandi Economic Corridor Enterprises (NECE) have approved the proposal and signed definitive agreements for raising funds through a potential issue of equity shares and compulsory convertible preference shares for a minority stake in NECE.
The objective of the fund raising is to augment NECEs equity resources required for part financing the project cost for the implementation of phase I of the Bangalore Mysore Infrastructure Corridor Project, BF Utilities added.
BF Utilities net profit fell 19% to Rs 2.48 crore on 7.90% decline in net sales to Rs 8.59 crore in Q4 September 2010 over Q4 September 2009.