L&T Finance acquires 26%
stake in Grameen Capital
L&T Finance
has acquired 26% stake in Grameen Capital for an undisclosed amount.
Grameen Capital provides capital market access and advisory services to firms
involved in social development, microfinance institutions, low cost
heathcare, education providers, etc which are serving the lower segment
through innovative debt and equity solutions, credit enhancement and strategic
advisory services. The company has other investors like Citicorp Finance,
Amit and Arihant Patni etc.
Sun TV gets rejection on
Security clearance of radio channels
As per media
reports, there is likely exclusion of radio channels promoted by the Sun Group
in the FM phase-III auction was possible though a final view will be taken by
I&B minister Arun Jaitley.
The home
ministry's refusal to give security clearance to the companies was discussed.
It is likely that we will have to exclude the companies as it is not possible
to delay the FM auctions any further.
Oil Ministry reverts back to
promoters selecting CEO of Petronet
The Oil Ministry has reverted back to the mechanism of promoters selecting
CEO of Petronet LNG. It has scrapped an ad-hoc search committee formed under
the previous Petroleum Secretary.A new Search Committee comprising
representatives of all Petronet's four promoter PSUs - GAIL, IOCBSE 3.36 %,
ONGC and BPCL - as well as GdF of France has been formed to select the new
chief executive officer (CEO)
Jet Airways expands network
on high demand routes
Jet Airways
expanding network on high demand routes - positive for the stock .It
increased its daily seat deployment on the domestic network by 1,000 seats
along with the addition of new services to enhance the connectivity within the
country.
GVK Power looking to raise
funds for airport business
As per media
reports, GVK Power & Infrastructure is looking to raise funds for its
airports business, mainly to repay debt. The development is positive for GVK
Power & Infrastructure.
ONGC draws Rs 53,000 crore
plan for KG block
ONGC will drill
a total of 45 development wells in the Krishna-Godawari deepwater block
KG-DWN-98/2, at a Rs 53,085 crore, which also includes setting up a floating,
production, storage and offloading (FPSO) system and a fixed offshore platform.
The field development plan (FDP) for the KG block was yet to be finalized. ONGC
has a deadline to submit the FDP to the Directorate General of Hydrocarbon by
September.
Havells launches innovative
Switchgear products
Havells India
announced its strategy to further strengthen its presence in Eastern region
with the launch of innovative switchgear products like distribution boards and
circuit breakers (MCB/ RCCB).
The new range of
circuit breakers, christened as Euro II is the first ever 100% 'Made in India'
MCB/ RCCB from the Company's portfolio as these are designed and developed by
the R&D team of Havells in India.
JLR cuts price for made in
China Evoque and reduces sales forecast
Tata
Motors’ luxury vehicle subsidiary i.e Jaguar Land Rover ( JLR) has cut
the prices for its model Evoque by about 11%. Considering the duties applicable
the effective price cut is to the tune of 24%.
The company has
also revamped its sales team in China. Given the slowdown in China the company
has also revised downwards the sales targets for China.
DLF in talks to raise Rs3000
crore for Delhi project
DLF in talks to
raise Rs 3000 crore from global private equity players for its Delhi project –
Positive. DLF to raise Rs 3k cr via PE, in talks with GIC – positive read
thru .DLF is likely to raise Rs 2,500-3,000 crore by next month via private
equity and is in talks with Singapore government's investment arm GIC to sell
stake in a new housing project in the National Capital.
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