Daily News Roundup - Nov 10 2009

Kingfisher Airlines is planning to raise around US$600mn worth of funds in FY10 to pay off its debt and strengthen its bottom line. (BS)
Blackstone Group plans to invest Rs3bn in GatewayRail Freight Ltd, a subsidiary of Gateway Distriparks Ltd (GDL). (BS)
Hindalco starts roadshow for its Rs29bn QIP on 10th November. (BS)
ICICI Bank plans to sell its 25% stake in back-office firm Firstsource Solutions as it seeks to unlock value from its non-core assets. (ET)
Tata Steel forms joint venture with 2 Canadian firms for ore project and proposes to invest US$279mn in the JV. (BL)
Tata Motors to roll out 200 Nanos daily by March ’10. (BS)
MRPL is planning to raise ~Rs50bn to support its expansion plan, for setting up a polypropylene plant and installing a single buoy mooring (SBM) at the Mangalore port. (BS)
Radico Khaitan shareholders have approved capital-raising plans for upto Rs3.8bn through the issue of securities. (ET)
L&T has bagged the Balance of Plant (BoP) contract valued at Rs16bn from Madhya Pradesh Power Generation Co for two 600MW coal-fired power plants. (BS)
Infosys BPO is looking at acquisitions worth US$50-200mn in areas where the company has a negligible presence. (BS)
Maytas Infra has decided to exit Rs15.9bn Machilipatnam port project. (FE)
Infosys technologies has opened a second development centre in Monterrey, Mexico, serving as a near shore unit to serve the regions of North America, Latin American and Europe (ET)
KEC international a global leader in the power transmission EPC business and an RPG group company, has won a distribution order worth Rs1.3bn from Maharashtra state electricity distribution company. (FE)
The four original sponsors of UTI Asset Management Company have disinvested 6.5% stake each to the US-based fund house T Rowe Price Global Investment Services for a collective consideration of ~Rs6.5bn. (BL)
BAJAJ Auto and Nissan-Renault are set to announce the details of the proposed joint venture for making the ultra low-cost car. (ET)
Radico Khaitan has hiked the investment limit of FIIs to 40%. (ET)
Tata Steel has signed a joint venture with Canada’s New Millennium Capital and LabMag for developing a direct shipment ore project in that country. (ET)
IRDA has given its final approval for the life venture that involves Bank of Baroda, Andhra Bank and UK based Legal and General (LG). (ET)
India’s third LNG terminal, being built at Dabhol in Maharashtra, would start operating early next year as difficulties in dredging silt at the Ratnagiri port have further pushed its commissioning schedule. (BS)
Sebi has amended the Issue of Capital and Disclosure Requirements Regulations (ICDR) to allow pure auctions for QIBs in follow-on public offerings. (BS)
Sebi has allowed stock exchanges to set up separate trading platforms for small & medium enterprises. (FE)
Sebi has proposed changes to the way public share offerings are done, spelt out guidelines for smaller companies to raise capital through share sales, and called for more disclosures from listed companies to prevent delayed shocks in the form of holes in the books of accounts. (ET)
Sebi and Amfi are looking to further strengthen the current valuation methodology of debt securities. (ET)