Apollo Tyres raised Rs3bn by issuing NCDs on a private placement basis and top corporate news of the day

India Infoline News Service | Mumbai | October 24, 2016 08:47 IST

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

HCL Technologies said it will acquire Butler America Aerospace for USD85mn in cash, a move aimed at strengthening its position in the aerospace and defence engineering services space. (ET)
Merck has merged its pharmaceuticals and consumer healthcare businesses as part of a major makeover unique to India aimed at building scale and ramping up local business with a hybrid model. (ET)
NTPC will set up solar projects totalling 50MW with battery storage system at different locations at Port Blair in Andaman & Nicobar. (BL)
Cipla lost a case related to overcharging in certain drugs, in violation of the provisions of drug (price control) order, 1995. (BS)
HDFC has raised Rs5bn through rupee-denominated bonds from overseas investors. (BS)
Sun Pharma has completed buyback of shares worth Rs6.75bn to return surplus funds to its shareholders. (BS)
UltraTech Cement said its shareholders have approved the merger of the cement business of the debt-laden JP Group with itself. (BS)
Gulf Oil Lubricants India Ltd has said that the company's greenfield project coming up near Chennai is on schedule to start commercial production in Q2/Q3 of next fiscal. (BL)
Apollo Tyres has raised Rs3bn by issuing non-convertible debentures (NCDs) on a private placement basis. (BS)
Reliance Industries, has forayed into cooking gas retailing, launching a 4kg LPG cylinder on pilot basis. (BS)
Apollo Tyres is setting up Europe's largest greenfield plant in Hungary with an investment of EUR475mn to produce nearly 6.2mn tyres for passenger cars and heavy commercial vehicles per annum. (BS)
The Maharashtra Electricity Regulatory Commission (MERC) has asked Tata Power and Reliance Infrastructure to explore various alternatives including medium and long term power purchase through competitive bidding and not just continue to tie up with their respective group generation companies. (BS)
The retail (small investor) portion of the Rs22bn Offer for Sale (OFS) in government-owned construction entity NBCC (India) was subscribed about 81%. (BS)



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