Monday 12 January 2015

Top corporate news of the day - January 12, 2015



The Kalyani Group will invest Rs6bn in a defence manufacturing facility at Dholera in Gujarat.

Seeking to modernise over 220 years old coal mining business in the country, Coal India's new chief S Bhattacharya has lined up a 'future strategy' to boost productivity with the use of latest technology and meet targets diligently. 

Reliance Industries announced Rs1000bn investment across businesses in the next 12-18 months and said India was on the path to become the world's fastest growing economy. 

Anil Agarwal is mulling merging Cairn India and Hindustan Zinc into his Vedanta Group firm to create a global natural resources giant to rival Rio Tinto or BHP Billiton.

 Bank of Baroda (BoB) plans to raise Rs10bn from bonds soon to fund business expansion. 

While the National Stock Exchange (NSE) is open to the idea of entering into alliances with other smaller exchanges in the world for its SME exchange Emerge, listing of a large number of top notch companies on it would draw the attention of a lot of international exchanges, according to Chitra Ramkrishna, Managing Director and CEO of NSE. 

Adani Enterprises Ltd and SunEdison Inc., a leading solar technology manufacturer and provider of solar energy services, announced the signing of a Memorandum of Understanding (MoU) to establish a Joint Venture (JV) to build the largest, vertically integrated solar photovoltaic manufacturing facility in India with an investment of around US$4bn.

United Spirits Ltd (USL) said its minority shareholders have approved a proposal to enter into licensing and cost sharing agreements with certain subsidiaries of its parent Diageo Plc, which was rejected earlier last year.

Kribhco plans to invest Rs10bn for setting up a P&K fertiliser plant at Krishnapatnam in Andhra Pradesh.

Adani Group has signed an agreement with Australian energy major Woodside for sourcing of LNG as well as cooperation in oil and gas exploration and production.  

Nitin Fire Protection Ltd (NFPL), an end-to end solutions provider in production and installation of the segment, is entering the Russian market, to catering to oil exploration units.

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