PRESS DIGEST - Indian Business News - March 16

MUMBAI, March 16 (Reuters) - Indian newspapers carried the
following stories in their print or Web editions on Monday.
Reuters has not verified these stories and does not vouch for
their accuracy.

ECONOMIC TIMES (www.economictimes.com)
* The U.S.-based tower firm, American Tower Corp , is
set to acquire Xcel Telecom in a deal worth 7 billion rupees.
* Bharti Airtel will restructure its business into
nine verticals under different chief executive officers as it
looks to expand into areas beyond voice telephony.
* Auto firm Mahindra & Mahindra has slashed its
capital expenditure plan for the next three years ending March
2012 by 5 billion rupees on contract renegotiation with its
vendors and focus on outsourcing.
* The federal government is considering a proposal to provide
additional capital to public sector power finance firms such as
Power Finance Corp and Rural Electrification Corp
. Power projects worth 1,500 billion rupees are awaiting
financial closure.
* Two subsidiaries of Oil & Natural Gas Corp will
borrow over 100 billion rupees in a month.
FINANCIAL CHRONICLE (www.mydigitalfc.com)
* Indian Oil Corp and Reliance Industries
are in talks to form a joint venture for leasing out retail
outlets to sell petrol and diesel. The JV may get subsidy benefit
from the government.
* The Insurance Regulatory and Development Authority has set
April 1 as the deadline for all life insurance companies to adopt
a standard nomenclature for the charges deducted out of the
premium paid by a policy holder.
* Computer services and outsourcing firm Perot Systems Corp
is in talks with four Indian hospital chains for backend
infrastructure services.

MINT (www.livemint.com)
* State-run NTPC Ltd plans to set up power projects
in Kazakhstan to import coal for its fuel-starved Indian plants.

BUSINESS LINE (www.businessline.in)
* State-owned oil firms have hiked jet fuel prices by an
average 158 rupees a kilolitre.

DNA (www.dnaindia.com)
* Infosys Technologies is looking at small
acquisitions around $200 million in the healthcare space.

($1= 51.50 rupees)
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(Compiled by Swati Pandey; Editing by Harish Nambiar)
((swati.pandey@thomsonreuters.com; +91-22-6636-9123, Reuters
Messaging: swati.pandey.reuters.com@reuters.net))
Keywords: INDIA PRESS/

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