RBS, 20 Apr 2011. News Update

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News headlines
Oil & Gas
􀀟 Cairn-Vedanta deal: GoM yet to fix any timeframe to decide (Economic Times)
􀀟 Fitch's highest to RIL's long-term national rating (Economic Times)
􀀟 DGH rejects RIL's 2 gas finds, holds back nod for KG-D6 budget (Economic Times)
􀀟 Vedanta buys 10.5% in Cairn from Petronas at Rs 331/share (Economic Times)
􀀟 Petronas exits stake in Cairn India: Source (Economic Times)
􀀟 India in talks with Indonesia, Kuwait for LNG supply (Economic Times)

Banks
􀀟 SBI hikes lending rate by 25 bps; loans get costlier (Economic Times)
􀀟 State-run banks brace for Rs40bn hit this fiscal (Economic Times)
􀀟 DCB aims at Rs300bn annual turnover in four years (Economic Times)
􀀟 Development Credit Bank aims at expanding retail customer base in Gujarat (Economic
Times)
􀀟 Citi's India asset quality improves as global profit dips by 32% (Economic Times)
􀀟 Citi's India arm cuts bad loans (Economic Times)
Pharma
􀀟 Sales of 'memory' pills zoom during testing times, poses long-lasting health hazards
(Economic Times)
􀀟 Orchid Chemicals settles case with Pfizer Inc (Economic Times)
Commodity
􀀟 Vedanta buys 10.4% in Cairn India from Malaysia's Petronas (Economic Times)
􀀟 Coal consumers seek PM's intervention on price hike by CIL (Economic Times)
􀀟 MMTC plans to import 50% more silver in FY12 (Economic Times)
􀀟 Vedanta buys $1.5bn stake in Cairn India: Reports (Economic Times)
􀀟 Orissa govt claims fake villagers stopping Posco (Economic Times)
􀀟 Sesa Goa in talks to buy Welspun's sponge iron facility (Economic Times)
􀀟 Tata Steel, JSPL to start production in 2013 (Business Standard)
Consumer
􀀟 Price hikes, volume rise to negate cost pressure in FMCG sector (Economic Times)
􀀟 Henkel AG set to sell off stake to Jyothy (Economic Times)
Retail/ Real Estate
􀀟 Haryana proposes property tax, 10-fold hike in fire tax (Economic Times)
􀀟 DDA results: People turned up to witness draw, barred (Economic Times)
IT & Telecom
􀀟 Vodafone may list Indian arm if it wins tax suit (Economic Times)
􀀟 Vodafone questions $2bn tax on Hutchison buy (Economic Times)
􀀟 Reliance Venture Asset Management exits from 4G chipmaker Sequans Communications
(Economic Times)
􀀟 Mukesh Ambani eyes next-generation security business with 4G telecom services (Economic
Times)
􀀟 Bharti revamps top deck of mobile business (Economic Times)


􀀟 Essar's takeover story a template for other cos (Economic Times)
􀀟 Sibal wants Moily to look into Tata-Birla Idea deal (Economic Times)
Power, engineering & infrastructure
􀀟 JK Organisation to foray into power sector; to set up 1,360 MW plant near Jhansi (Economic
Times)
􀀟 Reliance Infrastructure commissions three new EHV substations in Mumbai suburbs
(Economic Times)
􀀟 L&T , BHEL to gain from new PGCIL norm (Economic Times)
􀀟 L&T to hive off electrical & automation business (Economic Times)
􀀟 BHEL consortium gets $360mn order for Kakrapur nuclear power station (Economic Times)
Automobiles
􀀟 HIPL pledges 2.6% stake in Hero Honda to IL&FS (Economic Times)
􀀟 Mahindra & Mahindra launches Yuvraj 215 (Economic Times)
􀀟 Nissan, GM, Ford, Daimler unveil ambitious China expansion plans (Economic Times)
􀀟 M&M may forge pact with Mitsubishi (Economic Times)
􀀟 Ferrari should be worth $7.3bn in IPO: Fiat chief (Economic Times)