Daily News Roundup - Jan 25 2010

Maruti Suzuki announced that it would invest Rs17bn in a second line at its Manesar factory; new line would start operations by April 2012. (BL)
DLF exits asset management venture with Prudential Financial. (BL)
Bharti Airtel said that it is looking at listing one of its tower units Bharti Infratel or Indus in the next fiscal. (BL)
Larsen & Toubro formed a joint venture with Malaysia-based Sapuracrest Petroleum to install pipelines and construct offshore rigs and platforms in India, the Middle East and South East Asia. (ET)
Lupin is planning to set up three new manufacturing facilities at an investment of Rs2bn. (BS)
Suzlon Energy plans not to proceed with proposed Rs5bn wind energy projects at two locations in Punjab. (ET)
LIC acquires nearly 2% stake in Essar Oil for Rs3.09bn through open market transactions. (ET)
Biocon signs MoU with Malaysia’s Biotechnology Corporation to explore collaboration and potential investment in Malaysia’s biotechnology industry. (BS)
Wockhardt sells nearly 18 acres of land at Mulund for Rs2bn to Runwal Group, and a real estate fund. (ET)
Piramal Healthcare is looking to review its plans to set up a new unit to make codeine. (ET)
DLF sells its 15-acre property in Bangalore suburb. (ET)
GMR Hyderabad to provide MRO services for Jet Airways. (BL)
JK Paper board approves Rs15bn expansion. (BL)
Usha Martin raises Rs4.7bn through QIP. (BL)
JK Tyre has decided to set up a Rs16bn automotive tyre manufacturing facility in Tamil Nadu. (BL)
Unity Infraprojects plans to develop two mixed-use housing projects with an investment of around Rs500 crore. (ET)
Karnataka Bank raises Rs1.6bn through QIP. (BL)
Tata Teleservices has overtaken BSNL to become the fifth largest mobile operator in terms of subscriber base. (BL)
Apollo Hospitals signs MoU with the Maldives government to mange the Indira Gandhi Memorial Hospital at Maldives. (BS)
Tata Steel and NMDC sign an MoU to explore possible areas of strategic alliance, including forming JVs in the fields of steel production and mining in India and oversea. (TOI)
Glenmark arm gets USFDA nod for hypertension drug. (FE)
Godrej Properties said it would invest over Rs10bn in the next fiscal on ongoing and new realty projects. (FE)
Maytas Infra’s new owner IL&FS is negotiating with lenders to convert around Rs6bn of the company’s debt into equity. (TOI
Shipping ministry is evaluating the disinvestment process in SCI and Dredging Corp of India and will take a final call on the issue early-next fiscal. (FE)
Time Technoplast is looking to acquire an industrial packaging company in Europe, preferably in France, Germany or Britain, at an investment of Rs1.15-1.3bn.
HDIL plans to launch its QIP issue next week. (BS)
4G prospects won't keep off telecom companies from bidding for 3G, says Union Minister Mr Raja. (BL)
The six ‘core' infrastructure industries have registered a 6% yoy growth during Dec’ 09 compared with 0.7% a year ago. (BL)
Foreign exchange reserves rose by US$899mn to US$285bn for the week ended January 15. (BL)
Domestic crude oil production in December rose 1.1% yoy to 2.9mn tonnes. (BL)
Petroleum Minister has written to the Finance Minister to consider setting up a fund that will aid domestic PSUs in acquiring oil and gas assets overseas. (BL)