TOP CORPORATE NEWS
IDBI, BOI plan to raise
equity/debt capital
IDBI Bank plans
to raise Rs26,000 crore through a mix of equity and bonds to fund its business
growth. The bank proposes to raise Rs6,000 crore (inclusive of premium amount)
via equity and remaining via debt.
Bank of India
has taken shareholders approval and is also looking to raise up to Rs6,000
crore through Tier-I or Tier-II bonds, apart from issuing 26 crore equity
shares.
Raymond reworking on consumer
products strategy
The Raymond
Group is reworking its consumer products strategy to enter newer categories,
and has roped in a celebrity endorser to bump up sales of its deodorants. The
textile major's FMCG company, JK Helene Curtis (JKHC), has signed up
actor-director Farhan Akhtar to push sales of its Park Avenue brand of
deodorants in the Rs3,500-crore segment that has close to 1,000 brands.
RIL enters in agreement
with Versalis subsidiary to sell SBR
Reliance Industries Ltd ( RIL) has joined hands with Versalis Pacific Trading
(Shanghai) - a wholly-owned subsidiary of Italian firm Versalis (Eni), a major
producer in the polymers and elastomers industry to market its styrene
butadiene rubber (SBR) to tyre producers in China.
Force Motors opens facility
near Chennai for BMW engines
Force Motors
opens facility near Chennai for BMW engines; positive for the company. Force
motors has inaugurated the Rs200 crore facility at Mahindra World City near
Chennai for the assembly and testing of BMW engines. The company has invested
Rs200 crore on the plant which will be producing 20,000 units of premium
engines. The plant will also produce gearbox and other components for BMW.
Jet Airways optimises fleet
utilisation, expands Abu Dhabi flights
Jet
Airways optimises fleet utilisation, expands Abu Dhabi flights and within India
as a part of its network optimisation efforts.
ENIL surges on approval to
buy 4 TV Today Network's radio stations
Shares of ENIL
surged over 12% to Rs816 on NSE as the company gets I&B Min approval to buy
TV Today Network");'> 4 TV Today Network's radio stations. Big positive
for ENIL as the approvals to acquire TV today radio network was not approved
earlier by ministry, now as the I&B ministry has given the approvals ENIL
will consolidate its number one position in the India’s.
ABB India bags Rs125 crore
order to upgrade 3 substations
ABB India has
won order worth Rs125 crore from Power Grid Corporation of India Ltd (PGCIL),
for the extension of three substations in Vadodara, Manesar and Malerkotla.
ABB's solution will help PGCIL augment substations to meet growing demand in
Gujarat, Haryana and Punjab.
PTC India signs agreement
with Jharkhand utility
PTC India signed
agreement with Jharkhand utility to manage bilateral trade and exchange based
energy trades - positive for PTC India. Jharkhand Bijli Vitaran Nigam Limited
(JBVNL) signed two agreements with PTC India to minimize losses. The first
agreement is related to portfolio management of JBVNL under short-term
bilateral power market, which includes the sale and purchase of power and
energy banking.
Hyundai launches compact SUV
Creta starting at Rs8.6 lakh
Hyundai launches
its compact SUV Creta starting at Rs8.6 lakh; priced at a premium to existing
products. Hyundai Motors has launched its compact SUV Creta starting at Rs8.6
Lakh (ex-showroom Delhi) for the Petrol variant and Rs9.5 Lakh for the Diesel
variant. The Creta will be offered with three engine options ie the 1.6 Litre petrol,
1.4 Litre diesel and a larger 1.6 litre diesel option.
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