News Snippets - 22 Feb 08

Adlabs, DLF, Parsvnath among the 25 bidders for redevelopment of Chanakya theatre. (Mint)
Deccan Aviation plans on raising Rs16bn capital. (Mint)
RCom acquires African firm for US$500mn to offer telecom access services in Uganda. (Mint)
Wockhardt to look at alternative avenues to fund its hospital network. (BL)
Hexaware Technologies reports Rs810mn loss on forex deals. (BL)Alstom Projects wins export orders worth Rs5,920mn. (BL)
Simplex Infrastructures is awarded orders of Rs3,020mn for construction of six flyovers. (BL)
Madhucon Projects to transfer its BOT projects to a holding company. (BL)
L&T gets Cairn Engineering Services contract for pipeline project. (BL)
Hydro S&S Industries to supply plastic compounds and Caparo to make the body of Tata Motors’ Nano. (BL)
Glenmark Pharma’s arthritis drug enters clinical trial phase. (BL)Kalyani Steel plans to set up Rs65bn steel and power plant in West Bengal. (BS)
Essar group to add an average of three stores a day to reach 1450 numbers by year end. (BL)
Patni Computers targets Japan market to double revenues in three years. (BL)
Infosys unveils first Latin American subsidiary to enhance service to clients in US. (BL)Blackstone raises stake in
Gokaldas Exports to 68%. (BS)Bharat Electronics plans JV with Israeli firm. (BS)
HDIL sells a commercial building project in Andheri, Mumbai for Rs9bn. (BS)
Bajaj Auto to list demerged entities in April 2008. (BS)
PNB and Vijaya Bank begin process of exiting JVs with US based Principal group. (BS)
Tatas may hive-off loss making Jaguar into separate entity. (ET)
HDFC Bank likely to takeover Centurion bank of Punjab in an all stock deal. (ET)
HDFC Bank plans to raise US$1bn from overseas markets for its global expansion plans. (ET)
Dutch Court restrains Ranbaxy Labs from launching generic version of Lipitor in the country before November 2011. (ET)
Goldstone Tech launches IPTV service in Thailand in partnership with Synap Media & Infotech. (ET)
Tata Tele to foray into enterprise solution space in US and UK. (ET)
Aditya Birla group in race to acquire personal loans and mortgage business of GE Money India. (ET)
Cabinet approves the proposal to issue special marketable securities to subscribe to the right issue of SBI. (ET)
Aditya Birla Nuvo to raise funds through issue of warrants to promoter group companies on preferential basis. (FE)
Dun & Bradstreet enters into agreement with Bank of Maharashtra. (FE)
REC IPO gets oversubscribed 4.13 times. (FE)
Teledata Informatics to raise Rs5bn through qualified institutional placement basis. (FE)
Economic Front Page:
Rising rubber prices hit tyre manufacturers. (BS)
The cabinet clears US$125mn subsidy for exporters. (Mint)
Railway Minister likely to reduce both passenger fares and freight rates. (ET)
The DoT rejects TRAI’s proposal that service providers, who do not get support from USOF, be provided subsidies for their rural rollouts. (ET)
Steel Minister to meet major steel producers next week to sort out issues pertaining to their mega investment plans. (ET)
The Government to modify the process of regulating prices of medicines outside the scope of their price control. (ET)
The Government likely to remove cap on overseas investments made by domestic companies. (FE)
The Government approves Rs5bn additional package in form of interest subventions for exporters. (FE)
Railway Minister to announce the use of high axle load wagons of 25 tons for transporting more varieties of commodities. (FE)
MMRDA to launch bidding for the second and third corridor of Mumbai Metro Railway Project in next3-4 months. (FE)