MRF plans Rs 4500 cr investment in Gujarat and other top corporate news of the day

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

Jan 12, 2017 03:01 IST India Infoline News Service

Businesswoman reading newspaper
Welspun Group said it would invest Rs40bn on three large textile projects in Gujarat. (BL)
BISPL, an indirect subsidiary of BPCL, plans to raise USD600mn long term funds from the international debt capital market. (BL)
The Suzlon Group has announced it has bagged 226.8MW order from a leading independent power producer (IPP) to be installed in Andhra Pradesh. (BL)
Lupin has received final approval from the US health regulator to market its Desoximetasone cream, used for treatment of skin disease, in the American market. (BL)
MRF Ltd said it will invest around Rs45bn in a phased manner over a period of ten years to set up a manufacturing unit in Gujarat. (BL)
Royal Orchid Hotels has acquired Amartara Hospitality by buying additional 24.9% stake in it. (BL)
Biocon Ltd and its US partner Mylan said the US Food and Drug Administration (USFDA) has accepted the biologics licence application for its biosimilar drug to treat breast cancers. An FDA would help the drug enter the lucrative US market. (BS)
IL&FS Transportation Networks in a joint venture with PJSC Kyivmetrobud has bagged the Rs3.71bn Chennai Metro Rail Ltd (CMRL) contract for design validation and construction of underground stations. (BL)
NTPCs board has approved an investment of Rs10.53bn for Dulanga coal mining project with rated production of 7mtpa. (ET)
The Delhi High Court directed Cairn India Limited to commence arbitration on an ongoing dispute with Videocon Industries Limited, Oil and Natural Gas Corporation (ONGC) and Ravva Oil, regarding the refund of payments made by Cairn on behalf of Videocon for the operation of the Ravva oilfield in the Krishna Godavari basin, within two weeks. (BS)

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