Wednesday, 22 April 2015

Top corporate news of the day - April 22, 2015

Adani Group has finally acquired Lanco Infratech's 1200 MW Udupi power plant for an enterprise value of Rs.63bn. 

The News
The government will soon auction 69 small and marginal oil fields of state-owned ONGC and Oil India to private firms as a precursor to a full fledged licensing round. 
 
Adani Group has finally acquired Lanco Infratech's 1200 MW Udupi power plant for an enterprise value of Rs.63bn. 
 
Bayer CropScience opens new multi-crop breeding station in Haryana. 
 
Claris Lifesciences has received supplemental approval from the US health regulator to market Fluconazole injection in 50 ml PVC bags, used for treating fungal infections, in the American market. 
 
Neyveli Lignite Corporation Limited has commenced commercial operations of India's first Circulating Fluidised Bed Combustion Boiler plant in Tamil Nadu. 
 
Vendors of Japanese two-wheeler major Yamaha Motor are investing Rs.10bn to set up base at the company’s vendor park adjoining the still-to-be-inaugurated facility in Tamil Nadu. 
 
Kotak Mahindra Bank has approached the Foreign Investment Promotion Board to hike foreign investment ceiling in the bank to 55%. 
 
Rural Electrification Corporation said it has formed three subsidiaries with a focus on as many number of power transmission projects. 
 
Cimmco, a subsidiary of wagon and railway coach manufacturer Titagarh Wagons Ltd, said it has received industrial license for manufacturing defense equipment. 
 
Sadbhav Infrastructure has sealed a pact to acquire a 60% stake from HCC group company in a highway project. 
 
Vodafone India has invested over Rs.4500mn in two of its circles to improve its telecom services

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