Daily News Roundup - Sep 7 2011

Coal India is running 191 mines without any environmental clearance, the Comptroller & Auditor General said in a report on the company, which says delays in green clearances has severely hit its output. (ET)

Hero MotoCorp will start dropping the Honda brand from its existing products this fiscal. (BS)



Bajaj Auto will showcase their four-wheeler in the Delhi Auto Expo next January. (BS)

Aurobindo Pharma has formed an equal joint venture with Russian healthcare equipment company Ojsc Diod to manufacture and sell drugs in Russia, Belarus and Kazakhstan. (ET)

Jubilant Foodworks plans to enter Bangladesh after opening the first Dominos Pizza outlet in Sri Lanka earlier this month. (BS)

Tata Motors has cut production in both the passenger and commercial vehicle segments in order to align its output with market demand. (FE)

Jaguar Land Rover is looking to increase manufacturing of its vehicles in India in order to escape the high duty on its products imported to the country. (BS)

RCOM has clinched a Rs14bn deal with HDFC Bank to build and maintain a data centre. (ET)

Mahindra Reva Electric Vehicle will introduce a new electric vehicle in the next 18 months based on a model from parent group Mahindra & Mahindra's existing portfolio. (BS)

Osama Suzuki will be meeting Modi in Ghandhinagar after attending the annual general meeting of Maruti Suzuki India to finalise plant in Gujarat. (FE)

Reliance Power is pushing to get coal from its Moher and Moher Amlohri blocks by December 2012, ahead of the commissioning of its ultra mega power project in Sasan, Madhya Pradesh. (BL)

Infosys is understood to have hired a noted criminal lawyer in the US, Stephen A Jonas, and his law firm, WilmerHale, to defend it in all kinds of criminal matters pertaining to the alleged visa misuse case. (BS)

Wockhardt has been asked by the Bombay High Court to bring in the over Rs3.5bn it owes its creditors. This is irrespective of its asset sale. (BL)

The move to take up disinvestment in the Rashtriya Ispat Nigam Ltd along with other PSUs by the Union Government has come in for criticism from the unions that have served a one-day strike notice. (BL)
Economy Snippets

The Society of Indian Automobile Manufacturers said the size of the domestic passenger vehicles market is likely to touch 5.6mn units by 2017, despite the market witnessing a slowdown in recent months. (BS)

India’s steel consumption grew by 1.3% in the first five months (April-August) of this financial year. The production, however, grew by 9.9%. (BS)

The ministry of mines has sought clearance from the Cabinet for making amendments to the existing mining legislation. Besides introducing a benefit sharing regime, the proposed law will also be making provisions for regulating mining in the country. (BS)

The Land Acquisition Bill was tabled in Parliament, setting a base level for compensation to even its dependents. (ET)