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Thursday, June 02, 2011

Daily News Roundup - June 2 2011


Maruti May car sales up 1.9% to 104,073 units, Tata Motors May sales dips 9% to 19,401 units. (ET)

TVS Motors May sales up 18% to 181,891 units, Hero Honda May sales up 15% to 500,234 units. (ET)

Bharti Airtel signs contract with Huawei to modernise and expand its 2G and 3G networks in Africa. (ET)

Reliance Communication approaches ATC to sell its controlling stake in Reliance Infratel. (BS)



Reliance Capital will hire 3,500 managers for its businesses this year. (BS)

SAIL FPO delayed further. (ET)

Former SAIL chairman, Shushil Kumar Roongta to head Vedanta Aluminium. (BL)

Aurobindo Pharma gets US FDA nod for denopezil hydrochloride tablets. (BL)

NTPC designs new projects on increased imported blend. (BS)

Tata Power launches 15bn debentures issue. (ET)

Cairn Energy may give up non-compete fee on Vedanta deal. (BS)

Petronet to buy about 2.5 million tonne per annum LNG for up to 25 years from Gasprom. (BL)

Petronet LNG, Hiranandani group to build LNG terminal. (ET)

Lupin signs a licensing agreement with NeuClone for cell line technology to develop cancer treatment medicines. (BS)

Godrej Consumers Products has entered into an agreement with Darling Group holdings to acquire a 51% stake. (BS)

Lanco Infra to add 1,600 mega watts in fiscal 2012. (BL)

SCI may place orders for 24 ships in FY12. (BS)

Environment ministry has directed one of GVK’s Companies to stop construction work at 330 mega watts hydro power plant in Uttarakhand. (BS)

SAT directs SEBI to allow Price Waterhouse to cross examine persons whose names have been mentioned in Price Water applications to SAT in Satyam Case. (BL)

Titan Industries to merge Titan Properties with itself. (BL)

Ceat may hike prices by about 2-3% towards June-end. (BL)
Economy Snippets

Core sector grows slowest in five months at 5.2% in April. (ET)

Rural development ministry has proposed that farmers should get 80% of the profits from resale of lands bought from them for development. (ET)

Exports rose 34.4% in first month of current financial year, Imports slow at 14%. (BS)