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News headlines: Corporate
‰ Hero group confirmed on Friday that it would buy out the 26%
holding of Honda Motors in Hero Honda at a discount to the
market price and that it would disclose the details of the
transaction at the time of formal share transfer. (ET)
‰ Tata Power expects to augment its power generation capacity in
the country by 60% in 2011 through commissioning of new
projects with a cumulative output of over 1,900 MW. (ET)
‰ French bank Natixis SA is set to acquire 25% stake in IDCF Asset
Management Units. (BB)
News headlines: Economic and political
‰ The insurance regulator has allowed insurance companies to invest
in the proposed US$11 bn infrastructure fund. (ET)
‰ Oil ministry is planning to raise the price of LPG cylinder by Rs50-
100 after 66% rise in international prices of LPG. (ET)
‰ Telecom ministry is likely to seek the opinion of the law ministry on
charging fees for all airwaves that GSM service providers hold
beyond 6.2 MHz. (ET)
‰ The government has set January 5 as the cut-off date for power projects to shift to a tariff-based competitive bidding. (BS)
News headlines: Corporate
‰ Stake sale of Patni Computer Systems could take place this
week after the two investor groups – a consortium of Carlyle,
Advent and former Wipro vice-chairman Vivek Paul, and a
consortium of Apax Partners and Phaneesh Murthy of iGate – put in
their bids. (ET)
‰ Tata Motors has launched its first television commercial for Nano
in an effort to revive the sales of the car. (ET)
‰ According to media reports, Tata Steel is in negotiations to sell its
South African assets to raise about US$150m. (ET)
‰ State-owned Industrial Investment Bank of India (IIBI) has put its
about US$30m loans to Ispat Industries on sale. (ET)
‰ Moser Baer has planned US$500-600m investment over three to
four years for expanding its manufacturing capacity. (BS)
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