Wednesday 10 December 2014

Top corporate news of the day - December 10, 2014

Reliance Industries Ltd (RIL) India and China’s Shandong Ruyi Science and Technology Group Co Ltd — the latter through its wholly owned subsidiary — have executed definitive agreements for a joint venture in textiles. 
 
New Zealand awarded 15 oil and gas exploration licences with US giant Chevron and India's ONGC Videsh joining the hunt in the South Pacific country for the first time. 
 
India Cements has proposed fund raising to the tune of Rs5bn, which will be utilized for re-financing of debt and capital expenditure purposes. 
 
Solicitor General (SG) Ranjit Kumar is understood to have opined that Cairn India’s contract for Rajasthan oilfield can be extended for any period upto five years but it is better to wait for comments on the proposal from Oil and natural Gas Corporation (ONGC), the government nominee and licensee of the block. 
 
Terming biologics as a critical growth driver for the future, Ahmedabad-based Zydus Cadila is aiming to clock revenues worth Rs5bn from the division in the next three to five years and it has launched the biosimilar of Adalimumab, used for treatment of auto immune disorders, at a price one fifth of the innovator drug in India. 
 
Bosch Limited announced that it concluded its wage settlement for 2013-16 with its Workmen Union - Mico Employees' Association (MEA) - on December 8, 2014. 
 
Axis bank has introduced a fixed home loan product for tenure of twenty years that is priced at 10.40%.
 
Coal India Ltd has been asked to e-auction the surplus coal from those mines that have been facing evacuation constraints. 
 
Aiming to tap the e-commerce market, Tata Housing will sell a luxury residential project, being developed in Bangalore at a cost of Rs1.5bn, exclusively during Google's online shopping festival starting tomorrow. 
 
ITC Ltd will invest Rs10bn for its ambitious foray into dairy and juice businesses which it plans to roll out in the January-March quarter. 
 
HCL Technologies said it signed a 30-month agreement with WGL Holdings' unit Washington Gas, which distributes natural gas to about 1.1 million customers in the District of Columbia, Maryland and Virginia in the United States. 
 
NTPC has signed term loan agreements worth Rs30bn with two banks to part finance its capital expenditure. 

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