Top Corporate News of the Day

Billionaire Dilip Shanghvi controlled Sun Pharmaceutical Industries, which issued a profit warning last week, may tap the global debt market to raise as much as $1 billion by selling offshore bonds

July 27, 2015 11:12 IST | India Infoline News Service
Corporate News
Rajesh Exports Ltd has announced the acquisition of Valcambi - World's Largest Gold Refinery. Valcambi is the world’s largest precious metal’s refining company headquartered at Switzerland. Valcambi has processed and sold 945 tons of Gold and 325 tons of Silver on an average per year during the last three financial years which is more than the annual consumption of gold in India.

The Delhi High Court allowed the Kalanithi Maran-owned Sun Group’s Red FM to participate in phase-III of the FM radio e-auction, which is scheduled to begin on Monday. (BS)

Tata Motors, India's largest commercial vehicle maker, is banking on growth in its defence sector business and exports to drive 30-40 per cent of its revenues in the next three to four years as it seeks to derisk the domestic commercial vehicle business from its inherent cyclicality.(ET)

The fund raising through rights issue crossed Rs. 11,000 crore mark this year. this is much higher than about Rs. 5,224 crore garnered via issuing 'rights' shares in the entire 2014.(ET)

Billionaire Dilip Shanghvi-controlled Sun Pharmaceutical Industries, which issued a profit warning last week, may tap the global debt market to raise as much as $1 billion by selling offshore bonds. (ET)
State-owned Oil and Natural Gas Corp (ONGC) plans to invest over $8.8 billion in bringing to production its much-touted KG-basin oil and gas discoveries by 2018-19. (Financial Express)

Alloy-maker JSW Steel will this week seek shareholders’ approval to raise up to Rs. 4,000 crore through qualified institutional placement (QIP) and Rs. 10,000 crore from selling non-convertible debentures (NCDs). (Financial Express)

Siemens Ltd wins order worth Rs. 67 crore for Gas Insulated Switchgear.

The offer for sale (OFS)of Power Finance Corporation would take place today. Government has set the floor price for 5 per cent stake sale in PFC at Rs. 254 a share, a discount of 2 per cent over the market price, which would fetch around Rs. 1,600 crore to the exchequer.(Financial Express)

Six-year-high refining margins take Reliance Industries Q1 net to Rs 6,222 crore. The company announced its first quarterly results on July 24. It reported a 4.4% jump in its net profit to Rs. 6,222 crore in the April-June quarter, driven by better-than-expected gross refining margins. (Financial Express)

State-owned Bank of Maharashtra  is looking to raise Rs. 4,000 crore during the next five years and 50 per cent of the fund is expected to come from the Centre. (moneycontrol)

Consumer durable major Godrej Appliances said it is working on differentiated online strategy for its products in the wake of deep discounting by e-retailers. (BS)

Federal regulators hit Fiat Chrysler Automobiles NV with a record $105 million fine for recall lapses covering millions of vehicles, adding to mounting scrutiny of the auto maker’s safety practices. (WSJ)

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