Friday, 2 January 2015

Top corporate news of the day - January 02, 2015

SRF Ltd has signed an agreement to buy out US-based DuPont’s medical pharmaceutical propellant business for $20mn.

Tata Steel to resume mining in Jharkhand in 2-3 days. A day after Jharkhand Government’s assurance to initiate steps to renew Tata Steel’s iron ore mine, the company expressed hope that mining activities would be resumed in a couple of days.

Jindal Stainless Ltd has decided to go in for a restructuring and asset monetization programme to pare debt.

Coromandel International formally completed the process of amalgamation of Sabero Organics Gujarat Ltd with itself.

Wipro Enterprises will seek nod from its members to reduce share capital to provide an exit option to non-promoter shareholders.

Lupin announced that it has received a tentative approval from the US Food and Drug Administration to market a generic version of the Prezista tablets, which are used for the treatment of HIV-1 infections.

Tata Group will invest in research and development of new technologies that will help its companies chart out their strategies to deal with the challenges in an evolving market.

Manappuram Finance, with a market share of around 12% in the gold loan business, might acquire a commercial vehicles loan company, in a bid to expand their portfolio.
The Hindusthan Shipyard Ltd, BHEL and Midhani have signed a memorandum of understanding to form a consortium and make a bid for the contract to construct six submarines for the Indian Navy indigenously.

Snapdeal said 2014 had been a "phenomenal" year for the homegrown online marketplace and more than 65% of orders placed came through mobile devices.

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