Monday 8 December 2014

Top corporate news of the day - December 08, 2014

Maruti Suzuki India Limited (MSIL) has bagged its single largest order of over 4,000 units of its sports utility vehicle Gypsy from the Indian Army. (BS)
 
State Bank of India has said the final decision on the controversial US$1 bn loan agreement withAdani Group for its Australian mining project would be taken by the executive committee of the bank in 2-3 months. (BS)
 
Regulators in France, Germany, Belgium and Luxembourg are suspending the marketing approval of 25 generic drugs due to concerns over the quality of data from clinical trials conducted by GVK Biosciences. (BS)
 
Jet Airways will likely drop a plan to transfer the airline's ATR turboprop aircraft fleet to its subsidiaryJetLite for now. The move has been prompted by regulatory complexities and costs issues, a person familiar with the development said. (BS)
 
Chennai Super Kings (CSK), the Indian Premier League (IPL) franchisee of India Cements, will be floated as a new wholly-owned subsidiary, effective January 1 next year.
 
Infosys is planning to set up a marketplace of short-term internal projects that may be offered to clients. 
 
Isuzu Motors India is looking at scaling up its production to 1,20,000 units per annum in the country with an investment of Rs30bn by 2016. 
 
Welspun India plans to invest Rs25bn to expand manufacturing capacities over the next 12 months. 
 
With the government expected to bid out nearly Rs500bn worth of road projects in the next 12 months, EPC firm Atlanta is eyeing around Rs20bn  contracts, according to a senior company official. 
 
Ashiana Housing said it will invest about Rs7.5bn in the next 3-4 years to develop four new housing projects in Haryana and Rajasthan. 
 
Inter-ministerial panel Telecom Commission is likely to take a call  on allowing extended use of spectrum by Airtel and Vodafone to avoid disruption in their services in Delhi, Mumbai and Kolkata, besides deciding on base price for the next round of auction. 

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