Top corporate news of the day
In what could be the end of the road for the beleaguered Kingfisher Airlines, a consortium of 17 banks is considering recalling loans aggregating Rs70bn to the private carrier.
The Hindustan Copper Board approved awarding of the Rs2.6bn EPC contract for re-opening and expansion of Rakha mine in Jharkhand to a consortium led by Kopex Shaft Sinking Co of Poland. (BL)
In what could be the end of the road for the beleaguered Kingfisher Airlines, a consortium of 17 banks is considering recalling loans aggregating Rs70bn to the private carrier. (BL)
Alstom Bharat Forge Power Ltd (ABFPL) said it has received an order for supply and commissioning of three 660 MW coal-fired, supercritical turbine generator islands (TGI) worth Rs22.5bn from NTPC. (BL)
Power Grid Corporation of India Ltd (PGCIL) on Tuesday said that it will sign a US$16-mn management contract with Ethiopia Power Company for two years. (BL)
US-based consumer research firm Nielsen has extended its ongoing contract with Tata Consultancy Services (TCS) by three years and more than doubled the value to US$2.5 bn.
Bajaj Allianz General Insurance Ltd is exploring the possibility of tapping BPL (below poverty line) families under the Rashtriya Swasthya Bima Yojana scheme. (BL)
Eros International along with Endemol India will invest Rs1bn to co-produce three feature films. (BL)
Pfizer will appeal against an order by the Indian Patent Office rejecting the company’s claim for a patent over its anti-cancer drug, Sutent. (BS)
Air India expects to raise around Rs10bn by the end of the next financial year (March 2014) through monetisation of five of its prime properties across India. (BS)
With the railways showing a renewed focus on private partnership, Jindal, Adani and a consortium of cement companies (UltraTech, Prism and Madras Cement) have shown interest in port connectivity projects. (BS)
Mahindra & Mahindra today said it has completed the entire stake buyout of US based Navistar in two joint ventures - Mahindra Navistar Automotives and Mahindra Navistar Engines. (ET)
Reckitt Benckiser is taking its battle over germ-protection with Hindustan Unilever to the kitchen by extending its Dettol brand to the dishwashing space dominated by the latter's Vim brand. (ET)
Power Grid Corporation plans to raise Rs30bn by selling bonds in the latest rush to raise funds amid an uncertain rate scenario as the central bank governor keeps warning about high prices and record high current account deficit. (ET)
Biocon has hired the services of global consulting giant McKinsey to create a new structure to help the company achieve its ambitious sales target ofUS $1bn by FY2018. (BL)
CESC has decided to invest around Rs40bn in setting up a 600 mw thermal power plant in Uttar Pradesh that will cater to Greater Noida in the National Capital Region. (ET)
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India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.