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Wednesday, July 22, 2009

Daily News Roundup - July 22 2009


Tata Power eyes US$250mn via GDR issue (ET)

HDFC cuts new loan rates by 50bps (ET)

Government to kick-off stake sale in two PSUs, Manganese Ore India and NMDC, which could fetch up to Rs250bn (ET)

SAIL to delay expansion plan by two years; to reach 26.2mtpa of hot metal capacity by 2014 (ET)

Infosys bags government contract to set-up an e-biz platform which will give companies easy access to government information and services (BS)

M&M sings an MOU with State Bank of Travancore for vehicle finance (FE)

Reliance Infra acquires RNRL’s 5% stake in Reliance Cementation (ET)

RIL borrows Rs5bn for working capital (BS)

Pfizer increases its stake in Indian arm to 71% (BS)

Reliance Infra to handle ADAG’s cement business (BL)

Essar Oil ties-up US$920mn to fund the expansion of its Vadinar refinery to 16mn tones (BS)

Ranbaxy gets approval from Canadian health regulator to manufacture and market its cholesterol lowering drug, Ran-Simvastatin (ET)

Reliance Capital may sell stake in insurance arm, float IPO (ET)

Adani Group targets 20,000MW generation capacity by 2020 (FE)

Kingfisher is planning to raise up to Rs5bn through equity issuance (BS)

Shriram Transport to raise Rs10bn via NCDs (BS)

Moser Baer’s solar energy unit defers Chennai plant (BS)

Government raises FY09 food grain output estimate by 4mn tones (BL)

Railways freight revenues up 4.1% during April-June 2009 (BS)