Monday 30 March 2015

Top corporate news of the day - March 30, 2015

Shareholders of Trinetra Cement Ltd have given their consent to the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements. 

Reliance Communications said it has gained capability to provide 4G services across the country on the back of spectrum won by it in the recently concluded spectrum auction.
 
Shareholders of Trinetra Cement Ltd have given their consent to the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements
 
UPL is buying a 40% equity stake in Brazilian firm Sinagro group, which is a distributor of farm inputs-crop protection, fertilisers and seeds in the Cerrado region of Brazil. 
 
Grasim Industries has ventured into retailing women garments made of viscose staple fibre. The company’s subsidiary, Birla Cellulose, launched the garment brand Liva, which will be available at 1,000 outlets across 50 cities. 
 
Government is likely to exempt oil producers ONGC and Oil India Ltd from payment of fuel subsidy in the fourth quarter ending March 31, a senior Petroleum Ministry official said. 
 
NMDC limited will complete the construction of the 3 million tonnes per annum (Mtpa) integrated steel plant in Nagarnar in Chhattisgarh by 2016. 
 
To capture a pie of the flourishing online retail business, Ashapura Intimate Fashion (AIFL) plans to launch its own e-commerce venture in April. The launch will coincide with the launch of physical stores in major cities across the country. 
 
The Taj Group announced the opening of Taj Dubai located in the Burj Khalifa downtown area in Dubai. This hotel has 296 rooms including 2 lavish suites. 
 
SpiceJet plans to lease seven more Boeing 737 aircraft by May while another Rs5bn is expected to be infused by its new owner Ajay Singh next month. 
 
Prime Minister Narendra Modi is expected to announce a Rs360bn capacity expansion plan for SAIL's Rourkela steel plant when he inaugurates the modernised unit of the state-owned firm on April 1. 
 
Union Bank of India has deferred its plan to raise Rs13.86bn fund through qualified institutional placement (QIP) to the next fiscal. 
 
GlaxoSmithKline has reached a deal with the British government to supply a new meningitis B vaccine, following a lengthy stand-off over price with the product's previous owner Novartis
 
Strides Arcolab has launched its generic drug Sofosbuvir in India under the brand name 'Virso'. This drug, which is used for Hepatitis C treatment and is shown to have cure rates of around 90%, according to Strides officials. 
 
The construction wing of Larsen & Toubro – L&T Construction – has secured orders worth Rs17.11bn during March. 
 
Jet Airways launched daily international flights to Abu Dhabi from Pune, Ahmedabad and Mangalore. 
 
To tap into the growing middle class, travel services provider Thomas Cook is working on a model to reach out to its customers by setting up small outlets in high footfall areas such as malls and markets. 

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