Headlines for 2nd april

Financial Express

TCS to set up Global engineering centre in Pune.

Tata’s AMC partners with UK-based New Star to extend benefit of investing in Indian equity markets.

Finance Minister extends service tax refund on three more export related services.

Twenty-eight companies lined up for developing and running two coal blocks of MahaGuj Collieries Ltd in Orrisa.

Airline Companies set to hike fares following an increase in jet fuel prices.

Business Standard

The IT department gives MTNL Rs13.95bn refund.

Cairn India to raise US$250mn loan from IFC.

Maruti’s vehicle sales decline by 2% yoy in March 2008 to 70,296 units.

Novartis challenges National Pharmaceutical Pricing Authority (NPPA) over Voveran price fixing.

Bharti Airtel successfully tests 3G applications with various equipment suppliers.

Provogue sells 27% stake in real estate arm for Rs4,570mn.

Emaar MGF lines up US$400mn for four hotels in a tie-up with Marriott.

Arvind Brands, the apparel and retail division of Arvind Mills, plans to open multi-brand outlets.

Government to tell steel manufacturers to cut prices by 10-20% in a month.

Merchandise exports grow by 35% during February 2008.

Hindu Business Line

Tata Motors vehicle sales up 6% yoy in March 2008 to 66,495 units.

M&M auto sales up 20% yoy and tractor sales up 8% in March 2008.

Reliance Petroleum to raise US$500mn.

Bajaj Auto plans to launch four new 125cc motorcycles in FY09.

Reorganisation of Glenmark Pharma’s business into speciality and generics has been implemented.

Cairn India’s Bhagyam field development gets clearance.

Bosch Chassis withdraws delisting plans.

Great Offshore buys back shares not exceeding Rs750 per share.

DLF and Hilton Hotels sign management pacts for seven new hotel developments in the pipeline.

Gujarat Ambuja Exports’ new plant in Uttrakhand goes onstream.

General insurance industry posts 12% growth April 2007-February 2008.

Indian Railways has awarded Bharti Airtel to provide services to its 100,000 employees.

Economic Times

Videocon likely bid to acquire the hand-set business of Motorola.

Reliance Industries strikes new gas in Krishna Basin.

DLF in talks with The Central Group, Thailand for an alliance.

Ranbaxy Labs to acquire UK business of Dowpharma Small Molecules, a unit of Dow Chemical.

Tata’s likely to secure GSM spectrum on a Pan-India basis, under the dual technology license.

IOB ties up with Annapurna, Pune for micro lending.

Government may allow Sugar mills to sell 2mn tons freely in the local market.

Underwriting to become mandatory for all IPO’s.

DoT plans to allot start-up spectrum to nine new telecom license holders by April-end.

The Communication Ministry approves TRAI’s recommendation to let service providers share active infrastructure.

Exports record a surge of 35% in February 2008 to US$14.23bn.

Petroleum and Natural Gas Regulator Board says city gas distribution to be awarded on the basis of network tariff, CNG compression charge and length of pipeline proposed to be laid.

Reliance Money enters into agreement with Canadian firm, Recognia to offer technical analysis and price forecasting services.

MINT

Gail signs contract to sell total gas produced in PMT fields.
Essel Propack buys a US medical devices firm in an all cash deal.

PowerGrid will add 11% power lines in 2008.

Airlines opt for differential pricing after fuel price hike.

Rates for 192 drugs fixed; that for 35 others revised.