Tuesday 10 February 2015

Top corporate news of the day - February 10, 2015

In sign of further deferment of its USD2.6bn order for 10 Boeing 787-9 Dreamliners, Jet Airways announced that the full-service airline has nothing on its order book till around 2017-18.

Drug major Cipla has inked a joint venture agreement with Morocco-based Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and The Pharmaceutical Institute (PHI) to enhance its position in the African country. 
 
Zensar Technologies announced that it has signed significant new business worth Rs.1.9bn in its Application Management Services business.
 
In sign of further deferment of its USD2.6bn order for 10 Boeing 787-9 Dreamliners, Jet Airways announced that the full-service airline has nothing on its order book till around 2017-18.
 
Adani Enterprises Ltd., the flagship company of the Adani Group has signed a memorandum of understanding (MoU) with Government of Rajasthan for a 10,000 Mw solar park in Rajasthan.
 
Chambal Fertilisers and Chemicals said it has shut down one of its urea units located in Kota district in Rajasthan due to unfavourable government policy for the 2014-15 fiscal.
 
Pharmaceutical firm Venus Remedies Ltd said it has received Indian product patent for its antibiotic research product Vancoplus. 
 
BK Birla flagship Kesoram Industries is planning to hive off manufacturing facility at Haridwar as part of its tyre business restructuring amid speculations that Apollo Tyres and MRF are in race to acquire the plant.
 
Siemens has secured three orders worth about Rs4.5bn from the Diesel Locomotive Works of the Indian Railways for locomotive equipment.
 
Force Motors plans to set up a manufacturing facility at Chakan near Pune to produce a range of parts including engines, gearboxes and axles with annual capacity of 50,000 sets.
 
State-owned Bank of India (BoI) said it will raise up to Rs6.4bn by selling shares to Life Insurance Corp and New India Assurance Company to fund its business growth and meet global risk norms.
 
Competition Commission has ordered a fresh probe against DLF Ltd with regard to alleged abuse of its dominant market position, after it found the realty major prima facie in violation of fair trade norms in a new case. 

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