Wednesday 28 January 2015

Top corporate news of the day - January 28, 2015

Maruti Suzuki aims to dedicate up to 100,000-unit production capacity at its Gurgaon plant to produce its new light commercial vehicle (LCV). Likely to be called the ‘Super Carry’, the LCV will be launched in the April-June quarter.

Andhra Pradesh government is actively considering a request made by Divis Laboratories Limited for the allotment of 500 acres of land-identified near Kakinada-to set up a green-field project for making Active Pharmaceutical Ingredients (APIs) and drug intermediates.

Bharti Airtel signed a deal with Nokia Networks to launch high-speed 4G services in six more telecom circles, comprising 11 states, starting from December this year.

Tata Motors informed that it will seek approval from the shareholders for raising funds upto Rs75bn through a right issue.

Max India Ltd said its board had approved splitting the company into three different entities to streamline the business structure and sharpen focus.

Ranbaxy said that the US health regulator has "determined" that the Indian drug manufacturer has forfeited its 180 days exclusivity for stomach and esophagus problems treatment tablets.

L&T’s proposed sale of its iron manufacturing unit in Coimbatore to Australian firm Bradken has got the approval from Competition Commission of India.

Volkswagen Group India launched its first engine plant in the country which will assemble 1.5—litre diesel engines for two VW models as well as for the group arm Skoda’s Rapid sedan.

Yes Bank signed a pact with OPIC, an arm of the US government's development finance institution, for US$220mn loan for on-lending to micro, small and medium enterprises.

Gati Ltd has received the board approval to raise up to Rs1.2bn through issue of securities to Indian or foreign investors.

TAFE Motors and Tractors Limited (TMTL), a wholly owned subsidiary of TAFE, has launched its 5/7.5 kVA Diesel Generators (DG) to consolidate its position in the lower horse power (hp) range.

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