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Thursday, November 11, 2010

Daily News Roundup - Nov 11 2010


Indiabulls Real Estate has paid the first tranche of Rs9.9bn to NTC for a 10.5acre plot in Worli, Mumbai. (ET)

An increased production from Cairn India’s Mangala oilfield in Barmer is set to increase royalty burden payment for ONGC. (BS)

Tata Motors to give its 70,000-plus Nano customers the option of having additional protection in the car's exhaust and electrical systems free of cost. (BL)



PFC is planning to float two subsidiaries, one for undertaking consortium lending and the other to focus on funding renewable energy projects. (BS)

JP Associates is considering raising ~US$500mn through equity sales in Jaiprakash Power Ventures in 2011. (ET)

Bharti Airtel may repay US$800m loan to help lenders reduce losses. (ET)

PFC to raise Rs11.53bn through ECB route. (ET)

Sebi fines Gujarat NRE Coke for insider trading. (ET)

Essar Oil lines up Rs17bn for Vadinar Refinery expansion. (ET)

Suzlon Energy was forced to pull out from the Attappadi tribal area of Kerala after the government asked it to vacate the land. (BS)

Parsvnath Developers is likely to raise about Rs1bn by selling stake in a housing project to PE firms. (BL)

Jindal Saw has bagged orders worth over Rs6bn from domestic and overseas markets for supply of pipes (BL)

Tera Software has received a contract worth Rs450mn under the UID project Aadhaar. (BL)

Kotak Mahindra Bank today hiked its deposit rates on several maturities by up to 0.25 per cent. (BL)

Empee Sugars & Chemicals plans to issue GDRs of up to ~Rs3.5bn. (BS)

The Comptroller and Auditor General of India (CAG) in its report has added that the telecom minister A Raja had caused losses ~Rs1.8tln to government by awarding scarce airwaves in 2008 to new entrants. (ET)

Car sales surged 38% in October 2010 with 1.82 lac vehicles being sold. (ET)

The Indian Railways carried 78.7 mn tonnes of freight in October, a growth of over 7 per cent in freight loading as compared to the same month last year. (BS)