TOP CORPORATE NEWS
ITNL secures Rs2288 cr project from NHAI
IL&FS
Transportation Networks Ltd ( ITNL) has bagged Rs 2,288.18-crore worth project
from NHAI for four-laning of Amravati-Chikhli section of NH-6 in the state of
Maharashtra.
The company has
been awarded the project through issuance of a letter of award dated July 24,
2015 by NHAI. The company had quoted a grant of Rs183.05 crore for project.
Rajesh Exports buys world's largest Gold Refining Firm
Rajesh Exports
through its wholly owned subsidiary in Singapore has fully acquired European
Gold Refineries, the 100% holding company of Valcambi in an all cash deal with
a total investment of $ 400 million.
Grant Thorton
assisted Rajesh Exports in due diligence and Credit Suisse is part financing
the acquisition through a long term debt.
ONGC plans to invest $8.8 billion in KG-basin
ONGC plans to invest over USD 8.8 billion in bringing to production KG-basin oil and gas discoveries by 2018-19.
Railways project worth
Rs81,459 cr to be completed by 2019
Railways 'Dedicated Freight Corridor'
project worth Rs81,459 cr to be completed by 2019 – Positive for wagon
manufacturers like Texmaco, Titagarh, BEML.
Hero MotoCorp planning to
buyout Erik Buell Racing
Hero MotoCorp
(Hero) is looking to buyout Erik Buell Racing (EBR) its Us based technology
partner. In 2013, Hero had picked up a 49.2% stake in EBR at Rs150 crore.
However, due to
financial difficulties EBR had filed for bankruptcy in April’15. This had
jeopardized some of Hero’s projects such as the HX250R and the Hastur
showcased in Auto Expo 2014.
SpiceJet marks 52-week high on stake sale plans
Shares of
SpiceJet rallied 5% to Rs25.20, extending their previous day’s 3% gain on
the BSE, after the company said that a few parties approached it and evinced
interest in making investments.
The stock hit a
high of Rs25.50 and is now slightly away from its 52-week high of Rs25.70
touched on February 25, 2015 on the BSE.
Tata Power eyes Africa, S-E Asia, SAARC for growth
Tata Power to
evaluate investment opportunities in Africa, Turkey and West Asia, South-East
Asia and the SAARC region. In line with its international strategy, the company
is to continue to assess favorable circumstances to scale up its generation
capacity.
ndusInd Bank completes acquisition of Diamond financing
IndusInd Bank
announced that the Bank has completed the acquisition of the Diamond &
Jewellery financing business and related deposit portfolio of Royal Bank of
Scotland N.V. in India. The acquired loan portfolio is approximately Rs 4100
crore.
Nestle India surges in weak markets
Shares of Nestle
India rose 4% to Rs 6269.50 on the National Stock Exchange (NSE) in otherwise
weak markets after the company on Friday, July 24, 2015, after market hours
Nestle India announced that Mr. Etienne Benet, managing director, is leaving
the company with effect from July 25, 2015 and will be relocating to Nestle
Group head office in Switzerland.
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