HEADLINES

BUSINESS STANDRED

Reliance Power to place Rs100bn equipment order for its power plants.

Ultratech to add 15mn tonne capacity by September.

Parsvnath Developers’ CFO quits on differences with the management.

Bharat Forge is eying 40% of revenues from non-automotive components in 3-4 years.

Prime Securities sets aside Rs230mn as a provision for losses suffered on investments during the recent market crash.

FINANCAIL EXPRESS

Government relaxes Rs10bn equity investment cap on NTPC in a JV or subsidiary set up to bid for power projects.

Firstsource Solutions is looking at healthcare industry for diversification.

Jindal India Thermal Power signs a MoU with MP Government for setting up a 2,000 MW coal-based power plant.

Finance Minister admits to a lower GDP growth rate of near 8% in 2008-09.

TRAI proposes abolition of access deficit charge (ADC) wef April 1st 2008.

The Government is planning to ask iron ore producers to check prices.

ECONOMIC TIMES

Reliance Industries and BG group have sought 5mmsmd of gas produced from Panna-Mukta-Tapti gas fields before entering any agreement with Gail.

Maruti Suzuki to hike capacity to 1mn units by October; two years ahead of earlier schedule.

HCL Technologies' infrastructure deal with Bear Stearns could be in trouble.

Power Finance Corporation and RITES sign a MoU to jointly import coal.

The Government is planning to liberalise FDI norms in real estate by waiving two conditions; three year lock-in on foreign investment and the requirement of at least US$5mn investment in case of JVs.

DTH operators have approached TRAI asking it to fix the price that they have to pay to the broadcasters.

The Government temporarily suspends export subsidy under the DEPB scheme on steel.

DNA

India Cements to spend Rs20.1bn to boost capacity to about 14mtpa by December.

UB has invested Rs700mn for a vineyard on 350 acres at Baramati.

MINT

Dabur India has earmarked US$200mn for overseas acquisitions.

HINDU BUSNIESS LINE

Allahabad Bank cuts PLR as well as home loan rates by 25 bps effective next month.

Volvo India to launch six car models in phases.

Japanese automaker Suzuki is likely to set up engineering and design work in India.

The Government projects 30% growth in exports in dollar terms in 2008-09.

Daimler gets Government nod for Rs16.5bn JV with Hero Group.

Tata Tea to increase prices across all its seven brands.

Hindustan Zinc cuts zinc product prices by Rs5,200/tonne.