Economy News  29 Dec: Kotak Sec,

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Economy News
 The government is eyeing nearly 1.8 mn acres of land available with
various state-run companies, to quickly get manufacturing and
infrastructure projects off the ground. (ET)
 Companies headed for an initial public offering (IPO) will have more
legroom to sell shares to foreign investors. They need not reserve 25% of
the share sale for domestic mutual funds and insurers if the regulator is
convinced of the disclosures regarding valuation and justification of
premium. (ET)
 The government is set to unleash several big-ticket announcements over
the next few weeks, starting with changes in the land acquisition law
through an ordinance, setting the stage for the budget that will be
unveiled at the end of February. (ET)
 The government is eyeing Rs 3 trn worth investments in power
transmission and distribution business, as it gears up to free the sector
from a gridlock of fuel scarcity, regulatory clogs and other issues. (ET)
Corporate News
 Glenmark Pharmaceuticals is set to out-license its molecule for pain
management. The molecule, GRC 17536, is expected to have a market
potential worth $1 billion. According to people in the know, Glenmark is in
talks with a few multinational giants and a deal is likely in a couple of
months. (BS)
 Petronet LNG Ltd is among five global energy firms that have been
shortlisted for setting up an LNG import terminal in Bangladesh.
Bangladesh is looking at setting up a 3.5 million tons a year LNG import
facility. (ET)
 Indian Oil Corporation is well positioned to bag the Rs28bn EnnoreTuticorin
LNG pipeline project which will link its proposed Ennore LNG
Terminal with the southern parts of Tamil Nadu and Bengaluru, according
to official sources. (BL)
 NMDC plans to set up 139 km-long slurry pipeline to carry iron ore from
Bailadila mines to its proposed 3 million tonnes per annum steel plant in
Nagarnar, with an estimated cost of Rs8bn, a top company official has
said. (ET)
 Cairn India, along with its joint venture partner, state-run ONGC, has put
forward a $700-million plan to develop and produce gas reserves at the
Raageshwari fields in the Barmer block in Rajasthan. The Management
Committee, comprising petroleum ministry, Directorate General of
Hydrocarbons (DGH) and the explorers, is likely to discuss the proposal this
week. (ET)
 Lupin Ltd is eyeing acquisitions in various global markets, including the
US, Latin America and Europe, as it looks to bolster its presence overseas.
(Livemint)
 SpiceJet Ltd outlined a turnaround plan to the government, centred on a
proposed $200 million investment by co-founder Ajay Singh and a unit of
JPMorgan Chase and Co., as the cash-strapped airline fights for survival.
(Livemint)
 Board of India Cements has approved a proposal to raise Rs5bn through
qualified institutional placements or foreign currency convertible bonds to
meet capital expenditure needs, a top official said. (ET)