Thursday 16 April 2015

Top corporate news of the day - April 16, 2015

Assocham seeks 25% cut in iron ore prices by NMDC. The industry body says the company is charging 25% higher charges as compared to other iron ore miners based in Odisha. 

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Bosch Limited has informed the Government of Rajasthan that it would lift the lock out at its Jaipur plant with effect from April 15, 2015. 
 
Surana Telecom and Power Limited acquired majority stake of 51% in Arhyama Energy Private Limited, which is implementing a 10-Mw solar power project in the neighboring Nalgonda district in Telangana state. 
 
Assocham seeks 25% cut in iron ore prices by NMDC. The industry body says the company is charging 25% higher charges as compared to other iron ore miners based in Odisha. 
 
DLF's appeal against Securities Exchange Board of India's penalty order has been adjourned to July 9 by the Securities Appellate Tribunal. 
 
The Tata Group has launched its online grocery platform my247market.com, which will compete with online grocery sites such as Localbanya.com, bigbasket.com and the online version of Godrej's Nature's Basket. 
 
Coal India, which was forced to keep a provision for imports in fuel supply agreements with power producers following a directive from Prime Minister's Office in 2012, imported even less than half a million tonne in the maiden year as there were hardly any takers. 
 
Tech Mahindra is partnering with US-Israeli Comverse Inc to set up a research and development centre in Israel. However the companies did not disclose financial details. 
 
SBI associate State Bank of Travancore has raised over Rs4.74bn through a rights issue to fund business expansion. 
 
Aurobindo Pharma Limited announced that the company has received final approvals from the US Food and Drug Administration to manufacture and market Cefixime for Oral Suspension of different doses. The product is ready for launch, the company said.
 
BHEL has signed a Memorandum of Understanding with a Russian company INTMA, to set up a gas-based power project in Kazakhstan.
 
Essar Steel's captive power plant (30 MWs), severely damaged in the cyclone Hudhud, has resumed generation after five months, according to a press release. 
 
BASF India Ltd unveiled its largest construction chemicals plant in India at Nellore in Andhra Pradesh. 
 
Strides Arcolab has received approval from USFDA for some of its drugs. These drugs include Polyethylene Glycol 3350, Sodium Chloride, Sodium Bicarbonate, and Potassium Chloride for Oral Solution. 

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