Tuesday 24 February 2015

Top corporate news of the day - February 24, 2015

Zee Media Corporation has received capital market regulator Sebi's approval to raise up to Rs2bn through rights issue.
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Maruti Suzuki launched refreshed version of its popular compact sedan Dzire with introductory prices ranging from Rs0.507mn to Rs0.781mn (ex-showroom Delhi). 

Zee Media Corporation has received capital market regulator Sebi's approval to raise up to Rs2bn through rights issue. 




Lupin has received the final approval for its product, a generic version of Allergan Inc's Lumigan Ophthalmic Solution, from the US Food and Drug Administration.
 
Ashok Leyland has not given up on its maiden car venture, for which it piggybacked on Japanese giant Nissan, despite extremely poor sales
 
Lupin said that the US Food and Drug Administration have raised concerns over production processes at the company's Pithampur plant in central India. 
 
Thomas Cook India has signed an agreement with Global Distribution Systems provider Amadeus on the basis of a combination of its products and future ready innovations.
 
Mahindra & Mahindra launched a new premium variant of the XUV500 priced at Rs1.448mn (ex-showroom, Mumbai). The variant, only 700 units of which will be built, will be equipped with electric sunroof, reverse camera, voice messaging system, aluminium pedals, grey alloy wheels, 6-way power adjustable driver's seat to name a few. 
 
State Bank of India plans to overhaul its transaction banking business, which will include involving trade finance and IT platform-based services for liquidity management.
 
GMR Infrastructure said that it has entered into a definitive agreement to sell its 26% stake in Delhi Cargo Service Centre, a joint venture between Cargo Service Center India Private Limited and Delhi International Airport (Private) Limited. 
 
By the end of March, Bank of Maharashtra will offload non-performing loans worth Rs4-5bn to asset reconstruction companies, a top bank official has said. 
 
Crompton Greaves has bagged a US$20mn order from Indonesian electricity utility PT PLN for setting up 36 transformer bays of 150 Kv in Indonesia. The project, funded by the World Bank, aims to enhance the performance of transmission grid. 
 
Tata Power said it has signed a memorandum of understanding with Siberian Coal Energy Company (SUEK) to tap opportunities in the energy sector. SUEK is an exclusive exporting company of Open Joint Stock Company and the largest Russian coal producer. 
 
L&T Technology Services, a wholly owned subsidiary of Larsen & Toubro has partnered with ThingWorx, a PTC business, for developing technologies on the Internet of Things. 
 
Omaxe has sold its 19.35 acres land at Vishakhapatnam for Rs1.12bn as part of its plan to divest non-core assets and focus on completion of the existing projects.

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