News Capsules

• Tata Motors, the country’s largest truck maker, has raised Rs.4,200 crore through the issue of secured non-convertible debentures (NCDs) to financial institutions. The money would be used for part-payment of the $3-billion (around Rs 14,313 crore) bridge loan it had availed of to finance the acquisition of Jaguar and Land Rover brands from Ford Motor Company last year.
• Maruti Suzuki India Ltd is in talks with the Haryana government to set up a research and development (R&D) centre, including a testing track, in the state. The proposed project, spread over 500 acres, is likely to be at Manesar and would attract an investment of Rs.1,800 crore.
• Leading pharmaceutical company Pfizer Inc has entered into a partnership with Ahmedabad-based Claris Lifesciences Ltd to commercialise sterile injectible drugs that are off-patent and have lost exclusivity in the United States, Canada, Australia, New Zealand and Europe.
• Reliance Industries, which recently began gas production off the east coast, has got the government go-ahead to sign agreements with firms supplying the much-needed gas to households and car owners in major cities. The government approved the allocation of gas from RIL’s Krishna- Godavari basin to half-a-dozen city gas distribution firms (CGD) in Delhi, Mumbai, Ahmedabad, Gandhinagar, Agra, Indore and Ujjain.
• Reliance Power Transmission, an Anil Ambani group company, has tied-up Rs.970 crore for its first transmission utility project in the western region of the country. The project involves setting up of 400 KV double circuit transmission lines covering about 1,500 Km in Maharashtra, Gujarat and Madhya Pradesh. It will connect the eastern region to the power deficit western region. The project is expected to be completed by 2010.