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News headlines: Corporate
‰ Reliance Communications has raised US$255m of external
commercial borrowings (ECBs) to partly refinance payments made
for acquiring 3G airwaves. (ET)
‰ The government has reportedly discussed a possible venture with
Reliance Infra, Tata Group and L&T to build an Rs85bn
(US$1.9bn) stretch of national freight railway. (Mint)
‰ Leading state and private steel companies, including Tata Steel,
Essar and SAIL, are among the 14 companies that have evinced
interest in developing Hajigak mines, containing around 1.8bn
tonnes of iron ore, in Afghanistan. (BS)
News headlines: Economic and political
‰ Prime Minister Manmohan Singh has undertaken significant
changes in portfolio of his ministers, particularly those managing
key economic and infrastructure departments. (ET)
‰ A Reserve Bank of India (RBI) committee has laid down stricter
profitability and loan caps, and higher capital requirements to
regulate microfinance institutions. (ET)
‰ Airport Authority of India (AAI) is looking to mobilising Rs17bn
through a mix of bonds and bank loans over the next two years in
order to fund upgradation of 35 non-metro airports. (ET)
‰ India’s Telecom Minister Kapil Sibal has said that the national
broadband plan will connect 160m Indian households with highspeed internet connections by 2014. (ET)
‰ Prime Minister Manmohan Singh is slated to flag off the
nationwide rollout of mobile number portability on Thursday, a
move that will allow users to switch operators without losing their
phone numbers. (ET)
News headlines: Corporate
‰ NTPC was prevented from opening commercial bids for
11x660MW bulk tender for boilers after Gammon contended
before the Delhi High Court that it was unduly disqualified from
making a bid. (Mint)
‰ Tata Steel has raised Rs50.8bn through allotment of shares to a
clutch of anchor investors at the upper end price band of its public
offer. (BS)
‰ Air India has given mandate to ICICI Bank to refinance loans in
order to purchase 21 A-320 aircrafts. (ET)
‰ Premier no-frill air carrier IndiGo has received government nod to
launch international operations. (ET)
‰ Essar Group has successfully closed its US$500m convertible
bond issue. (ET)
‰ Rolta has sold its 50% stake in Shaw Rolta to its JV partner Stone
and Webster for Rs1.6bn. (BS)
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