Thursday, 8 January 2015

Top corporate news of the day - January 08, 2015

Praj Industries said it has bagged an order from Uganda’s Kakira Sugar to build an ethanol plant with a capacity of 60,000 litres per day.

After a gap of three months, Mangalore Chemicals and Fertilizers Ltd re-started operations at its plant. In all probability, the company will be able to come out with urea production in another five days.

After a gap of almost seven years, Reliance Industries is gaining a foothold in supplying diesel to the Indian Railways.

Coal India Ltd struggled to produce and ship less than half of its daily target on the first day of a five-day worker strike hampering government efforts to reform the country's coal industry and ease its power crisis.

After Reliance Industries demanded interest on KG-D6 gas payments flowing into gas pool account operated by GAIL, the state-owned firm has agreed to invest the receivables in short-term interest bearing deposits with public sector banks.

Godrej Appliances and Panasonic have hiked prices of their products by 3-5%, becoming the first among their ilk to hike prices after excise duty was raised by 2% from 1 January.

Hero MotoCorp said the strike by transporters in Haryana has hit half of its despataches from Gurgaon and Dharuhera plants.

Five months after the formal announcement, Adani Power's Rs.60bn acquisition of Lanco Infratech's 1200-mw thermal power plant in Udupi seems to have run into rough weather and delays.

Employees' unions at ING Vysya Bank staged a protest with demands for 'job security' in the wake of its proposed merger with Kotak Mahindra Bank.

On the backdrop of increase in demand and GDP growth, Ashok Leyland Ltd has said that it will outperform the industry's targeted growth of 10% end of this fiscal.

Gearing up to enter new segments this year, an upbeat Maruti Suzuki India says that the price hikes following the withdrawal of excise duty sops will not affect auto sales.

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