The Royal Bank of Scotland :India Morning Meeting Notes | 11 January 2011

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News headlines
Oil & Gas
ONGC drills country’s first shale gas well (Economic Times)
India hopes to resolve Iran oil payment row this week (Economic Times)
ONGC demands royalty be added to the project cost it pays to Cairn (Economic Times)
RIL against new gas pipeline in Andhra (Business Standard)

Banks
Interest rates may rise by 25-50 basis points: SBI (Business Standard)
ING Vysya Bank to focus on secured lending (Business Line)
Commodity
JSW Steel emerges highest bidder for Bellary Steel: Sources (Economic Times)
Tata Steel set to raise Rs35-50bn via FPO (Business Standard)
MMTC disinvestment in 2011-12; sets up office in South Africa (Business Standard)
Consumer
Nashik onion traders on strike, prices could rise further (Economic Times)
Retail/ Real Estate
I-T raids Lodha Group for misreporting income (Economic Times)
SBI to lend only to reputed builders (Business Line)
IT & Telecom
SC notice to Centre,11 telcos on 2008 licences (Economic Times)
CAG stands by its report on 2G spectrum allocation (Economic Times)
Tata DOCOMO rolls out T24 mobile service in Gujarat (Economic Times)
SC says it cannot take cognisance of Sibal's version of loss (Economic Times)
Microsoft shake-up continues, server unit head exits (Economic Times)
iGate & Apax to walk away with Patni for $1.2bn (Economic Times)
Power, engineering & infrastructure
Reliance Power signs agreement with NTPC for 100 MW solar project (Economic Times)
Sterlite Tech gets fin closure for Rs7bn North-east UMTP (Economic Times)
R-Power, NTPC sign solar energy deal (Business Standard)
Russia keen to partner India in tapping thorium cycle (Business Line)
Automobiles
Hindujas float separate co to tap defence biz (Economic Times)
Motor Exchange raises $5mn (Economic Times)
Audi India's annual sales up 81% (Economic Times)
BMW beats Mercedes Benz, Audi to emerge as top luxury car-maker in India in 2010
(Economic Times)
Honda to target small cities for success of compact car Brio (Economic Times)
Post-split, Hero group to bring in 3-wheelers (Economic Times)