Thursday, 15 January 2015

Top corporate news of the day - January 15, 2015

CESC is planning a hike in power tariffs for its distribution area from April, 2015 to compensate the cost escalation in Haldia power project, which became commercially operational.


In yet another disappointment for Cipla, the Delhi High Court has refused interim relief to the company against its earlier order barring Cipla from selling cheaper generic of Novartis’ respiratory drug Onbrez.
 
Infosys expects its newly formed arm EdgeverveSystems, which focuses on products platforms and solutions, to contribute at least 10% to its overall revenue over the next three to five years.
 
CESC is planning a hike in power tariffs for its distribution area from April, 2015 to compensate the cost escalation  in Haldia power project, which became commercially operational.
 
Arvind Internet the online arm from Arvind textiles is eyeing revenue of Rs10bn in the next three years from its foray into the e-commerce space.
 
INOX Wind Ltd (IWL), a subsidiary of Gujarat Fluorochemicals, will set up a single location integrated wind turbine manufacturing facility in Madhya Pradesh's Barwani district. The plant will be set up with an investment of over Rs3bn.
 
Bharatiya Mahila Bank inked an agreement with HUL arm Lakme Salons to bring easy financing options to fuel women entrepreneurship.
 
Samvardhana Motherson Group (SMG) will inaugurate a US$40-mn automobile mirror plant in Marysville, Ohio, next week, as part of its Greenfield expansion plan for China and the US.
 
Gulf Oil Lubricants India Ltd has formed a strategic partnership with Whitmore, a global producer of lubrication.
 
Tata Chemicals aims to increase revenue from consumer products business to Rs40bn crore in next five years on the back of market expansion across the country, company's top official said.
 
National Fertilizers Ltd will form a joint venture with EIL and FCIL to revive the closed fertilizer plant in Ramagundam and said the total project cost is estimated at Rs50bn.
 
NTPC Limited's proposed 4000 MW project at Pudimadaka near Visakhapatnam faces environment approval hurdle.
 
To enhance water use in agriculture, Reliance Industries Limited (RIL) and National Research Development Corporation (NRDC) has joined hands for commercialization of superabsorbent hydro gels technology.

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