L&T bagged orders worth Rs17.26bn and top corporate news of the day

India Infoline News Service | Mumbai | September 21, 2016, 08:49 IST

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

News Newspaper Text
Larsen and Toubro (L&T) has bagged orders worth Rs17.26bn across various business segments. (BS)
 
Tata Steel will pay out a total Rs1.30bn as annual bonus to its eligible employees for the year 2015-16. (BS)
 
Reliance Industries has lined up a scheme where 10-15% of the salaries of its top 100 performers will be rolled out as stocks if they have been with the company for three years in a bid to retain talent. (ET)
 
Zydus Cadila announced partnership with Japan's Takeda Pharmaceutical Company Ltd to develop vaccine for chikungunya. (BS)
 
The troubles for Financial Technologies India Ltd (FTIL) intensified with the Central Bureau of Investigation conducting search operations at the company’s premises in connection with MSEI (formerly MCX Stock Exchange) licence grant case. (BS)
 
Kolte-Patil Developers Ltd said it had generated an internal return rate of 36% on its Margosa Heights project in Pune, which it co-developed with Portman Holdings. (BL)
 
Inox Leisure Ltd has announced a strategic partnership with Innoviti Payment Solutions to upgrade the customer experience. (BL)
 
Abbot Point Operations Pty Ltd (APO), the Australian subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ) has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty Ltd (APB). (BS)
 
GAIL (India) Ltd has started its first UNIPOL PE process line to produce 0.4mt of polyethylene (PE) annually. (BL)
 
Sharon Bio-Medicine has received approval from the US health regulator for its API plant at Taloja in Maharashtra. (BS)
 
The tax department has slapped a service tax demand of over Rs61bn on the overseas arm of Oil and Natural Gas Corp (ONGC), a move that may potentially render its investments in oil and gas fields abroad infructuous. (BS)
 
British Petroleum (BP) plc of UK sold a further 8.53% stake in Castrol India to bring its shareholding down to 51%. (BL)
 
TeamLease Services Ltd is expanding its focus on the higher margin IT staffing business by acquiring local rival NichePro Technologies for Rs290mn, its second buy this year. (BS)
 
Indian Oil Corporation (IOC) and GAIL India will sign a pact to take 49% stake in Adani Group's Rs50bn Dhamra LNG project in Odisha. (BS)
 
Sundaram Finance Ltd (SFL), raising Rs20bn through debentures to finance business expansion. (BS)
 
The Reserve Bank has allowed foreign investors to buy up to 49% stake in Inox Leisure Ltd under the Portfolio Investment Scheme (PIS). (ET)

 

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