Daily News Roundup - Apr 12 2012

Sebi agrees in the Supreme Court to amend its rules and dispose of MCX-SX’s application for recognition as a stock exchange within three months. (BS)

Aditya Birla Capital Advisors, the PE arm of the Aditya Birla Financial Services Group, plans to invest Rs1bn in Trimax IT & Infrastructure. (BS)

Ashok Leylandis to enter Britain’s mid-range truck market through a tie-up by its Prague-based subsidiary, Avia Ashok Leyland. (BS)

Piramal Healthcare announced it has received European regulatory nod to sell BST-CarGel, a bio-orthopaedic product. (BS)



BASF India will invest Rs10bn to set up a new production facility at Dahej in Gujarat. (BS)

SAIL-led consortium will bid for copper and gold reserves in the mineral-rich country, steel minister Beni Prasad Verma said. (BS)

PSL Ltd has bagged an approximate Rs5.7bn order from IOCL for the manufacture of pipes towards the Salaya - Mathura Pipeline De-Bottlenecking project. (BS)

Strides Arcolab has received US-FDA approval for Vancomycin hydrochloride antibiotic capsules, used to treat bacterial infections. (BL)

The Delhi High Court has fixed April 19 as the date for the final hearing on Indraprastha Gas Ltd’s plea challenging the order of the PNGRB on network tariff and compression charge. (BL)

SBI has pitched for a ratings upgrade from Moody’s after the bank’s executive committee cleared a government equity infusion worth Rs79bn. (FE)

United Breweries (Holdings) has pledged over 21 lakh shares as collateral. (ET)

Economy Snippets
The average coal stock at about 25 thermal power plants has reached a ‘supercritical’ level of less than four days. (BS)

Overseas investments by Indian companies stood at US$2.77bn in March, up 37.6% over the previous month. (BS)

The government announced the issue of special floating rate bond worth Rs70bn. (BS)

Iron ore export fell 60% to 4.22 mt in February, compared to 10.58 mt in the corresponding period last year. (BS)

India’s cement industry grew 6.4% in 2011-12 against less than 5% in FY11. (BS)

India should see a moderate uptick in economic growth in 2012-13 and 2013-14 as global conditions stabilise, a new Asian Development Bank (ADB) report has said. (BL)

The life insurance industry has declined only marginally in 2011-12 compared to the year-ago period, according to IRDA. (BL)

Telcos whose licences were cancelled by the SC may have to suspend operations from June 2 as the Centre does not intend to seek extension of the deadline for issuing fresh licences. (ET)