Daily News Roundup - Nov 19 2009

RIL is planning to spend US$3bn for the new petrochemical complex at Jamnagar. (BS)

RIL plans to enter no-frills, low-cost housing business in 2010. (BS)

ITC has increased prices of two of its brands, India Kings and Benson & Hedges, by Rs10 and Rs5, respectively. (BS)

Ratan Tata, Chairman of Tata Group, has said that his successor may be an expatriate. (BS)

ONGC to go solo in development of Satpayev oil block in Kazakhstan after Mittal Investments pulled out of the project. (DNA)

Japan’s JFE is forging an alliance with JSW Steel, whereby it will supply technology to Indian company to make auto grade steel. (DNA)

JSW Steel is close to entering into a strategic alliance with a global steel company. (ET)

Hero Honda may announce special dividend payout to its shareholders. (ET)

Exide Industries to raise Rs5bn via QIP to fund R&D. (ET)

Blackstone is planning to delist Bangalore-based textile exporter Gokaldas Exports, is in talks to launch the buyback offer. (ET)

Gujarat State Petronet is set to bid for two pipeline projects. (ET)

Union Bank of India is looking at raising US$500mn via bonds before March 2010 to expand its operations abroad. (BL)

Suzlon Energy has officially opened Infigen Energy’s Capital wind farm, the largest wind farm in Australia at Bungendore in New South Wales. (BS)

RCom has entered into a strategic tie-up with Atom Technologies, an m-commerce solutions provider from the Financial Technologies India Ltd group. (BL)

OPaL, the petrochemicals SPV of ONGC, is exploring the option of a public issue to part-finance its Rs125bn petrochemical chemical complex being commissioned at Dahej, Gujarat. (BL)

Petronet LNG is keen to acquire up to 10% stake in OPaL. (BS)

SAIL has re-tendered the four-million-ton Tasra open-cast coking coal mine redevelopment project in Jharkhand. (BL)

BHEL is scouting for a technology partner for its ambitious nuclear turbine and reactor project. (BS)

Wockhardt and Sun Pharmaceutical have received final approval from the USFDA to market generic versions of Nicardipine, the hypertension drug. (BS)

Bharati Shipyard and ABG Shipyard have got Sebi’s nod for their open offer bids to buy additional stake in Great Offshore. (BS)

Pantaloon Retail is looking to acquire a fast-moving consumer goods company. (DNA)

IOC is looking to invest up to Rs15bn in its maiden nuclear venture in partnership with Nuclear Power Corporation of India Ltd (NPCIL). (BL)

Kochi port has extended wharfage waiver to BPCL-Kochi Refinery for back-loading of crude oil at Cochin Oil Terminal for one more year. (BL)

EKC has decided to shelve plans of adding capacity at its China plant. (DNA)

The Union Government may consider including Andhra Pradesh in the Chennai-Mumbai Industrial Development Corridor project. (BL)

Bank credit for the fortnight ended November 6 increased by Rs231bn. (BL)

The Empowered Group of Ministers on the auction of 3G spectrum will meet today to discuss the vacation of spectrum by defence forces. (BS)

The Union Cabinet is expected to take up today a proposal for increasing the foreign direct investment limit in print media to 49%. (BL)

The NHAI, having failed to meet the deadline for awarding 126 projects during FY10, has brought down the number of projects to be awarded in FY11 to 92. (BS)

The government has appointed Subir Vithal Gokarn, Standard and Poor’s Asia-Pacific Chief Economist and a Business Standard columnist, as the fourth deputy governor of the RBI. (BS)

The government is finalizing plans to auction corporate entitlements to borrow abroad. (ET)

Centre is in talks with the Jharkhand and Orissa governments to facilitate the multi-billion dollar India projects of global steel giants ArcelorMittal and Posco. (ET)