Monday 15 December 2014

Top corporate news of the day - December 15, 2014

Biocon is contemplating setting up a manufacturing facility in Visakhapatnam, Andhra Pradesh. The company is rolling out 50 centres in Odisha and 100 centres in Rajasthan on a pilot basis 
 
Oil and Natural Gas Corp (ONGC) plans to use Gujarat firm GSPC's undersea infrastructure to bring gas from its KG-basin fields in Bay of Bengal to land. 
 
Oil India Ltd, the second largest state explorer, has signed contract for two offshore oil and gas blocks with Myanmar Oil and Gas Enterprise. 
 
The Godrej Group’s Appliances Division has undertaken an initiative to ensure a green supply chain at its Shirwal plant in Satara, Maharashtra. It aims for 25% reduction in energy consumption. 
 
Vijaya Bank is confident of raising core equity capital of Rs6bn before the end of the current fiscal. 
 
Lupin is looking to acquire companies and launch new products in the domestic market as it aims to scale up its Indian operations. 
 
Oil Country Tubular Limited has decided to relocate some of the manufacturing facilities to a convenient location, possibly near Nellore in Andhra Pradesh, keeping in view the stir by employees, future expansion and proximity to port. 
 
GMR’s unit, GMR Hyderabad International Airport Limited (GHAIL) bought out Malaysia Aerospace Engineering SDN BHD (MAE)’s 44.61 per cent stake in a jointly-owned maintenance and overhaul facility. 

Hero group has offered to partner with nationalised banks to improve the livelihoods of more than 400 million people below the poverty line who do not have the financial capability to purchase bicycles outright. 
 
Whirlpool will open 15 showrooms for built-in kitchen appliances across the country in the next one year as part of its plans to log Rs2bn turnover by 2017-2018 for the new category. 
 
Bank of Maharashtra is looking at doubling its profit to Rs6bn this fiscal which would be driven by treasury income and cost control measures. 
 
The demerger of Spencer's Retail from RP-Sanjiv Goenka Group's flagship company CESC Ltd to unlock its value hinges upon break-even of the retail chain. The same is expected by the management to happen soon. 
 
Auto component firm Pricol said it will acquire a Brazil-based auto component maker for making a foray into the Brazilian market.  
 
Safal Group, the organised retail chain of Mother Dairy, is venturing into the frozen snacks market with aloo tikki, a segment dominated by McCain so far. 
 
KSS plans to invest Rs900mn for rolling out 180 screens in 80 locations in smaller cities over the next five years. 

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