Thursday 19 February 2015

Top corporate news of the day - February 19, 2015

NTPC Limited said it would supply an additional 1,657 megawatts (Mw) to Uttar Pradesh in another two years.

ONGC said it has signed a Memorandum of Understanding with Super Wave Technology for development of an alternative to hydraulic fracturing or fracking technology that is used to produce shale oil and gas.

NTPC Limited said it would supply an additional 1,657 megawatts (Mw) to Uttar Pradesh in another two years.

Boeing announced it has signed a multi-year contract with Bharat Forge to supply titanium forgings for wing components for the Next-Generation 737 and 737 MAX at Aero India show in Bengaluru.

Carrying forward its trend of bidding aggressively, Power Grid Corporation of India has put in aggressive bids for grabbing latest power transmission projects.

Sundaram Finance has acquired an additional 26% stake in Royal Sundaram, its non-life insurance joint venture with RSA Group, UK. With this acquisition, the company owns 75.9% stake in Royal Sundaram.

 Lupin has launched a new version of its asthma drug delivery device in the US market under a licensing agreement with the New Jersey-based respiratory research and development company InspiRX Inc.

 Mahindra & Mahindra is recalling an unspecified number of its premium sports utility vehicle XUV500 vehicles manufactured on or before July 2014 to upgrade the side curtain airbag software.

 Honda Motorcycle and Scooter India is looking to make operational its new facility at Gujarat around January – February of 2016. The new plant will add 1.2 million units and cater to scooter manufacturing only.

Holcim-Lafarge has embarked on a mega restructuring plan in India and is looking at a plan to merge ACC, Ambuja and Lafarge India.

SpiceJet continues to run its operations on the cash generated by the advanced bookings with no "indication" of the proposed investment of Rs15bn from the new promoter having come in.

  Tata Consultancy Services announced that it has partnered with Startupbootcamp FinTech, a leading accelerator focused on financial innovation, to host the Pitch Days in India.

 Hindustan Copper Ltd has bought the assets, both moveable and immovable, of Jhagadia Copper Ltd, which was in liquidation, through auction from Asset Reconstruction Co (India) Ltd for an undisclosed amount.

  Berger Paints India Ltd inked a MoU with the Government of Stavropol Region, Russian Federation for setting up an industrial coatings plant in the region at an initial investment of US$5mn.

 Godrej Group is set to buy a small-sized e-commerce company through its retail arm Nature’s Basket, a subsidiary of Godrej Industries.

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