Electrotherm India, Rolta India, Wipro may see action

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IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
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TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 30/12/2008 | 12:00 AM IST

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Tuesday, December 30, 2008 (New Delhi)

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The board of Electrotherm India has approved spinning off its engineering business into a new entity - Electrotherm Engineering & Projects.

Reliance Communications has reportedly raised $1.5 billion from international export development banks at less than prevailing commercial interest rates to fund the rollout of its national GSM services.

Wipro is reportedly scouting for IT firms servicing oil, telecom and healthcare industries.

Rolta India has acquired US-based Piocon Technologies, which provides solutions to oil and gas refineries.

IDBI Bank has reportedly put its home finance unit for sale to raise Rs 200 crore and is reported to be in talks with Tata Capital, Edelweiss, Religare Enterprises and two private equity investors.

Shriram EPC reportedly expects the number of steel-related projects coming its way to slow down in the coming months due to production cuts in the sector and deferment of expansion plans.

Jai Balaji Industries has reportedly cut investment target for its proposed steel plant in West Bengal by 30% to Rs 16000 crore due to a drop in commodity prices.

Idea Cellular reportedly plans to invest Rs 300 - Rs 400 crore over the next 15 months to enhance network coverage in Karnataka.

Reliance Money, controlled by the Anil Dhirubhai Ambani Group, and Financial Technologies are reportedly exploring the option of setting up their own equity exchanges.

Four companies including Tata Power and Larsen & Toubro reportedly chose not to bid for the Rs 16000 crore ultra mega power project in Tilaiya, Jharkhand even as Reliance Power, Lanco Infratech and NTPC submitted their technical bids.

The combined operating loss for direct-to-home players such as Dish TV, Tata Sky, Big TV and Sun Direct for 2008/09 may double, crossing Rs 2000 crore.

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