Thursday 5 February 2015

Top corporate news of the day - February 05, 2015

Dr Reddy's Laboratories is set to expand the capacity of three of its bulk drugs and intermediates manufacturing plants located in Telangana, with a combined investment of Rs820mn.

Reliance Industries raised USD750mn through a 30-year overseas bond issue, just a fortnight after it raised USD1bn in India's first such bond of the year. 
 
Dr Reddy's Laboratories is set to expand the capacity of three of its bulk drugs and intermediates manufacturing plants located in Telangana, with a combined investment of Rs820mn. 
 
The Tata group has shown interest in participating in many of the flagship projects of Telangana government. These projects include setting up a water grid, and incubation hub, industrial corridors, smart city, solar power park, aerospace park, housing for the poor and improvement of civic amenities in Hyderabad.
 
Brakes India Ltd, of the TVS group, has formed a joint venture with the US solar major SunEdison. The joint venture’s 7.72 MW solar plant in Tamil Nadu was commissioned and will supply power to Brakes India.
 
Panacea Biotec said it has received an order worth USD13.49mn for supplying EasyFive-TT vaccine to global health agency PAHO. The 5-in-1 vaccine protects infants from 5 potentially deadly diseases: Haemophilus Influenza type B (the bacteria that causes meningitis, pneumonia and otitis), Whooping Cough, Tetanus, Hepatitis B and Diphtheria. (BL)
 
Muthoot Fincorp, the flagship company of Muthoot Pappachan Group, launched its Business Correspondent operations in the country with Yes Bank.
 
Air-conditioning company Blue Star is aiming to capture 10%of the room AC market in the next fiscal. 
 
The city-headquartered Mahindra Group has completed the acquisition of BabyOye, the Accel Partners and Tiger Global backed baby care products etailer that has been on the block since last year. The deal is likely to have been structured as an asset sale and could mark the first major venture capital writeoff in India's booming ecommerce sector. 
 
Torrent Pharmaceuticals proposed to double its borrowing limit to Rs100bn. 
 
Coal India plans to form joint ventures with the Indian Railways and private companies for rail projects that can also generate revenue from third parties that use the facilities. 
 
Budget carrier SpiceJet launched another discounted ticket scheme, offering fares as low as Rs 1,599 across its domestic network for travel between February 15 and April 15 to celebrate Valentine's Day. 


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