Daily News Roundup - Jan 7 2010

RIL is looking to raise more funds by selling more stock to institutional investor in the next two weeks. (BS)

RIL will drill 6 new wells in KG-D6 block during the current year. (BS)

L&T has bagged Rs23.25bn worth of order during Q3 FY10 for construction of residential towers, hospital, exhibition centre, IT Park and factory building. (BS)

ICICI Bank has cut car loan rates to 9.75-10.5%. (ET)

ONGC has been forced to exit from a gas block in Trinidad and Tobago after its partner Lakshmi Mittal walked out of the project. (BS)

Government can nod to offload 10% in BSNL. (BS)

Reliance Infrastructure, L&T, IVRCL and KMC Constructions have been identified as `preferred bidders' for Rs82bn highway projects, which are to be awarded on negative grant from the private players soon. (FE)

BHEL has bagged Rs420mn contract from Karnataka Power Corporation Ltd. (BS)

Ashok Leyland has unveiled countries first electric plug-in CNG hybrid bus, HYBUS at the auto expo. (BS)

IVRCL Infra has secured orders worth Rs9.6bn. (BL)

ABG Shipyard, through unit, has acquired 5.7mn shares or 15.2% of Great Offshore via open offer. (BS)

Ansal API, is all set to launch a major affordable housing project in Agra. (FE)

Ranbaxy Lab has started discussions to buy a privately-held Bangalore-based vaccine company, deal size could be around Rs500mn. (ET)

Pfizer is planning to source 40 off patient cancer drugs from Strides Arcolab. (BS)

Wockhardt has received a tentative approval from USFDA for sale of its generic memantine HCL, which is used to treat Alzheimer's and dementia. (FE)

United Spirits mulls bond issue to refinance Rs30bn debt. (BS)

PSL has bagged an order worth Rs4.25bn for water supply projects. (BL)

Pradeep Jain, chairman of Parsvnath Developers has pledged 83.66% of the stake he owns in the company with lenders. (BS)

Ruchi Soya Industries has acquired over 50% stake in Andhra Pradesh-based Gemini Edible and Fat for Rs450mn in order to consolidate its presence in the southern markets. (ET)

UCO Bank has recorded 22.1% growth in advances and 19.8% growth in deposits for Q3 FY10. (BS)

SEBI has extended the tenure of contracts in securities lending and borrowing to 12 months from current 1 month. (BS)

Government to announce stimulus package for select exporters soon. (BS)

Finance secretary hinted that the government may be looking at an exit from the stimulus. (ET)

Government to scan Register of Companies data for writing corporate policy. (ET)

Maharashtra Government is planning to invest Rs80bn to set-up 2000Kms of gas infrastructure and transportation grid. (BS)

Petroleum Ministry is seeking Rs310bn either in cash or bonds to compensate oil marketing companies in the current fiscal for there losses on cooking fuels. (BL)

EGoM headed by finance minister Pranab Mukherjee will meet to take a final call on the payment timeline for the 3G spectrum auctions. (ET)

Fertilizers ministry has urged the finance ministry to urgently resolve the liquidity problems faced by the country’s fertilizer industry following no payment of subsidy dues by the government since October 2009. (ET)

State-owned oil companies will present a health report to Prime Minister Manmohan Singh. (ET)

Government plans to slap new entry route restrictions on FDI beyond 49% in eight specified "sensitive" sectors, including airports, seaports, pharma, petroleum refining and gas pipelines. (FE)