Friday 9 January 2015

Top corporate news of the day - January 09, 2015

SAIL has charted investment of Rs.1500bn till 2030-31 to ramp up steel production from 23mn tonnes to 50mn tonnes.
 
The Maharashtra Food & Drug Administration has issued an order to suspend two drug licenses of Dr Reddy's Laboratories for violations and serious lapses at its storage premises at Bhiwandi near Thane.
 
Shareholders of Kotak Mahindra Bank gave their approval to merge ING Vyaya Bank with itself.
 
Mahindra Two Wheelers Limited is working on several models and expects to launch its much awaited Mojo super bike early next financial year.
 
Reliance Industries has finalised its 2015 gasoil and jet fuel term contracts at lower premiums than last year.
 
Suzlon Energy said that the wind turbine maker was in talks with potential buyers for an about $2.5bn sale of its German unit was "baseless and false".
 
Deepak Fertilisers, which sold its 2.2% stake in Mangalore Chemicals, is low on fuel to pursue the takeover battle of Mangalore Chemicals and Fertiliser as it's facing sagging financial metrics for the last one year due to stoppage of gas supply at its plant. 
 
Infrastructure Leasing and Financial Services Ltd is set to invest about Rs.350bn for setting up 6,000 MW of power generation capacities in Kutch – Gujarat. 
 
The Government will go for its stake sale in ONGC after finalising a new subsidy sharing formula as it would help in fetching better price in the market.
 
Moody's has upgraded Tata Steel Ltd’s corporate family rating to Ba1 with a stable outlook.

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