: The Tata group has decided to sell steel assets in the UK and will launch a formal sale process for the same by Monday. British business minister Sajid Javid had a two-hour meeting with the company's Chairman Cyrus Mistry at Bombay House, the Tata Group's headquarters, on Wednesday in an effort to save thousands of jobs.
Kotak Mahindra Bank
: Kotak Mahindra Bank has announced that the Company's subsidiary, Kotak Mahindra (International) Limited (KMIL), a Foreign Portfolio Investor (FPI) has acquired 38,68,606 equity shares at Rs. 23.65 each, aggregating to Rs. 9.16 crore being 6.8% of the paid-up capital of Diamond Power Infrastructure Limited.
: Tata Motors is working on sub-2 litre (2,000cc) diesel engines for its portfolio of utility vehicles (UVs), a move that will enable it to sell vehicles in the National Capital Region (NCR), a top official has been quoted as saying by a business daily. Tata Motors launched its much awaited hatchback Tiago at an aggressive introductory price of Rs 3.2 lakh to Rs 5.54 lakh ex-showroom New Delhi.
: The real estate company has registered new sales area of 3.38m sq ft valued at 20.12bn at an average price realisation of Rs. 5946 per sq ft.
Dr Reddy's Laboratories
: Dr Reddy's Laboratories US arm is recalling 3,342 vials of anti-osteoporosis injection, made by Gland Pharma, according to reports.
: Future Retail Limited has announced that the Company has made further investment in its subsidiary, Staples Future Office Products Limited (SFOL), pursuant to the rights issue, which has resulted in increase of its total holding from 60% to 61.67% of the equity share capital of SFOL.
: Pfizer Inc. announced that the merger agreement between Pfizer and Allergan plc has been terminated by mutual agreement of the companies. The decision was driven by the actions announced by the US Department of Treasury on April 4, 2016, which the companies concluded qualified as an “Adverse Tax Law Change” under the merger agreement.
: Biocon Chairperson Kiran Mazumdar-Shaw on Wednesday sought a five-year exemption from drug price control and asked the Government to refrain from announcing “ad hoc” measures to help the pharmaceutical sector become globally competitive.
: Axis Bank, a lender to Jaypee Infratech Ltd, has taken possession of the debt-laden company’s headquarters in Noida, reports a business daily.
: Bajaj Auto’s ambitious Qute quadricycle secured a one-star rating in crash tests performed by the Brussels-based Euro New Car Assessment Programme, or Euro NCAP, reports a business daily.
Nava Bharat Ventures Ltd
: The company entered into an agreement for renewal of Conversion arrangement of Chrome Ore into Ferro Chrome, with Tata Steel for a period of 4 years commencing from April, 2016, to produce up to 70,000 MT of High Carbon Ferro Chrome per annum at its Odisha Ferro Alloy Plant.
: The company is planning to restructure debt via 5/25 scheme, says report.
: Siemens has announced that it has partnered with NTPC to boost power generation in South India.
: Adani Power Ltd has informed BSE that the board of directors of the company at its meeting held on April 06, 2016, approved Preferential offer and issue of up to 52.3 crores Warrants, convertible into equivalent number of Equity Shares of Rs. 10/- each to the promoter group entities subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under Section 42 and 62 of the Companies Act, 2013 and other necessary regulatory approvals.
MEP Infrastructure Developers Ltd
: MEP Infra in a joint venture (JV) with its Spanish partner has received Letters of Award (LOAs) for Rs.1762.98 Crores from National Highways Authority of India (NHAI) and Ministry of Road Transport and Highways (MORTH).
INOX Leisure Limited:
INOX, one of the largest cinema exhibition chains in India, announced an agreement with IMAX Corporation, for five IMAX theatre systems.
ABB India, Welspun Energy
: ABB India and Welspun Energy, have together installed about 700 MW of solar photovoltaic projects across several states in India like Punjab, Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu.