News headlines: RBS: July2011

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News headlines
Oil & Gas
Essar to shut Vadinar refinery from September 18 for revamp and upgrade: Sources
(Economic Times)
Essar Oil owes $2bn to Iran, to buy LatAm crude (Business Standard)
BPCL lines up Rs500bn for refinery expansion (Times of India)
Ministers' group meet today may consider cap on number of LPG cylinders (Business Line)
Banks
HDFC Bank hikes lending rate by 25 bps to 9.5% (Economic Times)
Hit by slow credit offtake and thin margins, banks will outsource 50% ATMs by 2015
(Economic Times)
Pharma
Glenmark gets $25 mn from Sanofi as final upfront payment (Economic Times)
Planning Commission deputy chairman Montek Singh Ahluwalia endorses 100% FDI in
pharma (Economic Times)
Pfizer, Ranbaxy tie up with ITC to sell over-the-counter products in rural areas
(Business Line)
Sun Pharma Advanced Research board to consider rights issue on July 14 (Business Line)
Commodity
Peabody, ArcelorMittal bid $5bn for Macarthur Coal (Business Standard)
Steel makers slash billet prices on poor demand from housing sector (Business Standard)
Tata Steel targets 20% market share by 2020 (Business Standard)
IT & Telecom
Cognizant, Visma bag multi-year outsourcing deal from Norway Post (Economic Times)
NIIT Tech bags multi-million-pound deal from Eurostar (Economic Times)
Gartner sees 18% growth in IT services market this year (Business Line)
Rising wages, expiry of tax breaks to eat into margins of second-tier IT cos (Economic Times)
Bharti Infratel Plans to Raise $1b via IPO (Economic Times)
Power, engineering & infrastructure
Tata BP Solar bags three solar projects in Gujarat (Economic Times)
Reliance Power's mega project to earn over Rs11bn in carbon credits (Economic Times)
NTPC to provide 14 MW power to 118 villages (Business Standard)
Automobiles
Auto sector to see investments worth Rs2,500bn: Patel (Economic Times)
M&M not pursuing stake in Scooters India: Pawan Goenka (Economic Times)
Apollo Tyres sets up Middle East hub in Dubai (Economic Times)
Tata Motors may start Nano production in Indonesia (Business Standard)
Tata Motors rejigs top deck of commercial vehicle business (Economic Times)
Car sales post slowest growth in 27 months at 1.62% in June due to rising interest rates, fuel
prices (Economic Times)
Bajaj Auto puts in place new team for 4-wheeler project (Business Line)