Wednesday 18 March 2015

Top corporate news of the day - March 18, 2015

DLF will save about Rs1.75bn annually after promoters decided to slash coupon rate on securities held by them in realty major's subsidiary from 9% to 0.01%, a senior company official said. 

Mphasis  said it has launched 'Mphasis Next Labs' a strategic initiative for research and innovation on emerging and future paradigms. 
 
Cadila Healthcare announced that it launched an oral therapy called 'SoviHep' to treat Hepatitis-C that would be marketed by the specialty division of the group, Zydus Heptiza. 
 
The Patent Office has refused to proceed with the patent application of Wockhardt for an oral salt form of Diacerein, used to treat osteoarthritis, stating that the application lacks inventive step. 
 
DLF will save about Rs1.75bn annually after promoters decided to slash coupon rate on securities held by them in realty major's subsidiary from 9% to 0.01%, a senior company official said. 
 
Jet Airways will launch dedicated freighter operations in April becoming the first private Indian passenger airline to offer all-cargo services.
 
Hitachi India Ltd and Siemens Ltd signed an MoU with the Confederation of Indian Industry (CII) to form a consortium that would create pilots and replicate them throughout the country for setting up 100 smart cities.
 
Tata Power said it has commissioned the second unit of 63 MW of its 126 MW Dagachhu Hydro Power Corporation (DHPC) in Bhutan.
 
Amtek Auto announced the acquisition of Germany-based Scholz Edelstahl GmbH through its wholly-owned Singapore-based subsidiary Amtek Precision Engineering Pte Ltd.
 
Balaji Telefilms Ltd has said it will be launch its first fashion label EK shortly to tap into the merchandising opportunities.
 
HDFC Bank  launched Chillr, a mobile app that allows users to instantly transfer money to any contact in their phonebook.
 
 Tata Consultancy Services (TCS)  said it has set up a new 1,000-seater centre in Singapore to focus on clients in banking and financial services space.
 
Wipro said it has acquired a minority stake in cloud applications systems integrator Drive stream for US$5 mn. 
 
Pricol said it has divested its 49% stake in the joint venture with Denso Corporation to the Japanese partner for Rs0.2bn 

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