News Capsules

• Reliance Power will invest over Rs 12,000 crore for executing 2,520-MW hydro power projects in Arunachal Pradesh, to be commissioned in the next Five Year Plan (2012-17). The company has signed agreement with the state government for developing four hydro power projects -- 1,200 MW Kalai-II, 420 MW Amulin, 500 MW Emini and 400 MW Mihundon.
• Oil and Natural Gas Corporation (ONGC) will pay Rs 852 crore for subsidising petrol and diesel during January-March quarter but state gas utility GAIL India has been spared from the subsidy burden.
• Better margins on non-commuter bikes through premium pricing and softening of raw material prices helped India’s second-largest bike producer Bajaj Auto to post an increase of almost 8 per cent in net profit at Rs 130 crore. This was despite a drop of 20 per cent in sales of units during the last quarter of F09. Bajaj Auto saw total sales at 440,269 for the quarter as compared to 552,588 units.
• Tata Motors, the country’s largest truck maker which raised Rs 4,200 crore on Wednesday through issue of secured non-convertible debentures (NCDs), is raising another Rs 4,750 crore ($ 1 billion) through the external commercial borrowing (ECB) route.
• Dr Reddy’s Laboratories is moving all its drug research and development assets to its wholly-owned, independent subsidiary Aurigene, effective July 1, as part of a restructuring plan to rejuvenate its drug development activities.
• Ranbaxy Laboratories has acquired the entire range of skin care and lifestyle products of Ochoa Laboratories, a small to medium sized manufacturer located onthe outskirts of New Delhi.
• Opto Circuits India announced that its California-based international marketing arm, Mediaid Inc., has received Brazilian FDA agency - Agencia Nacional de Vigilancia Sanitaria (ANVISA) - approval for marketing and sale of the Mediaid brand of US FDA-approved Pulse Oximetry (SPO2) products (Patient Monitors & Sensors) in the country and surrounding geographies.
• Areva T&D, the Indian arm of French equipment maker Areva, has bagged an order from the West Bengal State Electricity Transmission Company (WBSETCL) for developing 400 KV substation at Kharagpur