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News headlines: Corporate
�� iGate has announced buying a 63% stake in Patni Computer for
US$921m, at a price of Rs503.50 per share. (ET)
�� Reliance Power has signed a power purchase agreement with
NTPC for its upcoming 100 MW solar power project in Rajasthan.
(BS)
�� Indraprastha Gas Ltd reported 3QFY11 net profit of Rs6.8bn
+14% YoY and net sales of Rs45.5bn, +60% YoY (BS)
�� The Hero Group is reportedly exploring options of entering the
3-wheeler market post its split with Honda. (ET)
News headlines: Economic and political
�� The Supreme Court has issued notices to the Centre and 11
telecom companies on the plea seeking cancellation of 2G
spectrum licenses allocated during the tenure of former Telecom
Minister, A Raja. (FE)
�� Government auditor CAG has said that is stands by the numbers it
reported on revenue loss on account of allocation of 2G spectrum.
(BS)
�� The government is considering lowering the excise duty on petrol
by 50% to counter the price hike in crude prices. (FE)
�� Pakistan's Ministry of Food and Agriculture has reportedly agreed
to a move to resume onion exports to India. (ET)
News headlines: Corporate
�� Reliance Industries has reportedly opposed the proposal of a
new pipeline floated by Andhra Pradesh Gas Infrastructure
Corporation (APGIC), as it feels that the gas availability for the
pipeline is uncertain. (BS)
�� Reliance Footprint reported achieving break-even this year, and
is aiming revenue of Rs200bn over the next 5 years. (BS)
�� Maytas Infra, will now be known after its new promoter as IL&FS
Engineering and Construction Company Ltd. (NDTV)
�� Madhabi Puri-Buch is likely to quit as Managing Director & CEO of
ICICI Securities. (BS)
�� BMW has emerged as the top luxury car-maker in India in 2010,
with sales of 6,246 units, +76% YoY. (ET)
�� Reliance Brands, a subsidiary of Reliance Industries revealed
plans to bring outdoor sports fashion brands Quiksilver and Roxy to
Indian markets this year. (FE)
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