Daily News Roundup - June 4 2010

SBI is preparing a billion dollar war chest for Africa. (ET)

Infosys is looking for smaller, back office and consulting firm in Germany and France. (ET)

ONGC and Oil India get freedom to price natural gas. (BS)

Reliance Power plans to set-up a 4,000mw gas based power plant in Maharashtra with an investment of Rs150bn. (BS)

Daimler, Maruti Suzuki and M&M are set to lead an estimated US$30bn investment in the next four years. (ET)

MTN group has denied talks with RCom for a merger. (BS)

Hindustan Unilever to consider buy-back proposal. (BS)

Aurobindo Pharma gets US FDA nod for Ceftazidime injections. (BS)

United Phosphorus buys global fungicide business of US based Du-Pont. (BL)

SpiceJet international plans are delayed by three months. (BS)

Moser Baer plans to add 30-40mw of photovoltaic capacity by March 2011. (BS)

GMR Energy to raise Rs4.65bn for its energy expansion plans. (BS)

Godrej Consumer Products is planning a QIP issue to raise Rs6-7bn to fund proposed acquisitions. (BS)

NMDC plans Rs92bn steel plant in Karnataka. (BL)

BEML to set-up Rs3.16bn facility in Bangalore for its aerospace related business. (BL)

Renuka Sugar to re-negotiate Equipav deal. (BL)

Adani Power to invest Rs5bn in solar project. (BL)

The government plans to update the draft legislation on mining to unequivocally establish it as the owner of all the natural resources. (ET)

Petrol, diesel price may rise Rs3.5/litre. (BS)

Monsoon rains were 11% below normal in the week to June 2nd says IMD. (BS)

Food inflation rose to 16.55% for the week ended May 22’ 2010. (BS)

DoT to waive off spectrum charges for Defence Ministry. (ET)

Finance Ministry is seeking veto power in proposed council of finance ministers on the goods and service tax. (ET)