Daily News Roundup - Jan 19 2011

TCS will hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal. (ET)

The government has given more time to 20 SEZ developers, including TCS and Mahindra World City, to execute their projects. (ET)

Tulip Telecom plans to sell 20-30% in its subsidiary Tulip Data Center for Rs3bn to a private equity investor. (ET)



Gail India plans to raise Rs35bn from the market to fund its Rs70bn capital expenditure in the next financial year. (ET)

Reliance Communications has raised US$255mn by way of ECB to partly refinance payment made for acquiring 3G spectrum. (BL)

Tata Steel plans to invest around US$2bn – US$2.4bn annually from FY12 for the next three years, in capacity expansion, portfolio revision and debt restructuring. (BS)

ONGC fuel subsidy bill will increase by nearly 21% to about Rs42bn in the third quarter this fiscal. (ET)

The coal and power ministries are slated to meet on Wednesday to decide the fate of NTPC's proposed 1,980-MW North Karanpura thermal power project in Jharkhand. (ET)

NCC Infrastructure Holdings moved to the Supreme Court seeking to restrain NHAI from processing Madhucon Projects' price bid in a tender related to four-laning of Ranchi-Rargaon-Jamshedpur section of NH-33 in Jharkhand. (FE)

M&M has drawn up a comprehensive plan to expand its tractor business to cover the entire value chain in the agriculture sector. (FE)

The environment ministry said it could consider approving HCC's Lavasa project on conditions that included a penalty payment and the setting up of a restoration fund. (BL)

After its launch in Delhi and Mumbai, ITC’s handrolled cigar, Armenteros, will now be available in Kolkata from Wednesday. (ET)

HCL Infosystems has bagged a contract from Kerala State Electronics Development Corporation Ltd to provide over 6500 units of laptops and netbooks under Kerala government's IT@School project. (FE)

Ashok Leyland bagged orders from VRL Logistics of 262 vehicles comprising 200 numbers of car carriers on the U-3518, 12 numbers of the U-4923 and 50 units of 12meter buses. (FE)

VA Tech Wabag has signed a JV agreement with Zawawi Trading Company LLC to tap the operation and maintenance business in the water space in Oman. (FE)

Parsvnath Developers intends to reduce debt to Rs5bn-6bn from the existing Rs11bn, over the next 12 months. (FE)

Strides Arcolab has received approval from the US health regulator for additional package size of Adenosine injection used for treating cardiac problems. (ET)

Promoters Pramod Mittal and Vinod Mittal will continue on the board of JSW Ispat even after the Sajjan Jindalcontrolled JSW Steel takes majority interest in the company. (ET)

Blue Star is entering into residential air-conditioning segment with new range of products for summer. (BS)
Economy Snippets

RBI and SEBI have once again opposed the finance ministry’s move to include development or reforms in the financial sector as part of the mandate of the newly-formed Financial Stability and Development Council. (ET)

The government's direct tax collection figures is set to breach the budget target of Rs4.3tn on the back of rising corporate income and improved tax compliance by salaried individuals, a top finance ministry official said

Incumbent telcos that hold more airwaves than the limit specified in their mobile permits, will have to pay up an additional one-time fee which will be specified by the sector regulator, Trai, within the next few days. (ET)

The textiles ministry has objected to the way the commerce ministry has allocated cotton export quota and has suggested that the procedures be changed. (ET)

India is considering imposition of anti-dumping duty of up to 40.9% on the import of glass fibre, used in automobiles, electrical insulation and heat resistant fabrics, from China to protect domestic players. (ET)