Thursday 11 December 2014

Top corporate news of the day - December 11, 2014

Axis Bank is planning to raise around US$100 min from International Finance Corporation (IFC). 
 
Godrej Group, which is eyeing acquisitions to fuel growth said it was expecting a 20% compound annual growth rate (CAGR) by 2020. 
 
Tata Power has signed a share purchase agreement to acquire entire stake in Nagpur-based Ideal Energy Projects Ltd. 
 
In keeping with the country's target of achieving US$500 bn textile exports, Reliance Industries Limited (RIL) again reiterated its plans to expand polyester chain capacity from current 7.5 mn tonnes to 15 mn tonnes. 
 
Looking to cash in on e-commerce boom, Reliance Capital is all set to sell its 16% stake in leading travel portalYatra.Com for an estimated Rs5bn and is in talks with 2-3 international investors. 
 
Cipla said its Mauritius subsidiary Meditab Holdings has signed a deal to sell its entire 48.22% stake in China-based Jiangsu Cdymax Pharmaceuticals for US$18.5 mn.
 
Anand Mahindra-controlled automobile major Mahindra & Mahindra,  is planning to purchase a stake in National Electric Vehicle Sweden AB (NEVS), the holding company that bought assets of Saab Automobile two years ago. 
 
Essar Oil will sign a 10-year deal to import crude oil from Russia as President Vladimir Putin pushes to deepen energy ties with India to counter to US sanctions. 
 
Jindal Steel and Power commissioned the country's largest billet caster plant at Angul in Odisha. 
 
Sintex Industries said it will set up a textile processing plant near Pipavav port at an investment of Rs55bn by 2017-18. 
 
 Welspun Renewables Energy has closed financing for its 126 MW wind project in Rajasthan, debt component of Rs6.3bn has been secured through long term funding from a consortium of financial institutions, said the company in a statement 

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