Thursday, 21 May 2015

Top corporate news of the day - May 21, 2015

Reliance Industries' Reliance Jio Infocomm Limited plans to provide advanced 4G voice calling using VoLTE, a technology to offer high quality voice calls over its 4G network and high speed internet services via FTTx. 

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Reliance Industries' Reliance Jio Infocomm Limited plans to provide advanced 4G voice calling using VoLTE, a technology to offer high quality voice calls over its 4G network and high speed internet services via FTTx.

In a bid to grab business in the digital commerce space, State Bank of India has been aggressively collaborating with on-line retailers such as Amazon and Snapdeal, and is ramping up card products and payments solutions businesses towards this end.

Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2mn tonne capacity cement at Bhilai in Chhattisgarh. The plant is 74:26 joint venture between Jaypee Group and SAIL. 

Writing instrument maker Camlin Fine Sciences plans to set up a new facility at Dahej Special Economic Zone for manufacturing 9,000 tonnes per annum of hydroquinone and 6,000 tonnes per annum of vanillin at an estimated investment of Rs1.85bn. 

In a bid to augment its cloud platform and technology operations, Snapdeal is planning to double the strength of technology team to 2,000 by the year-end and has appointed Gaurav Gupta as Vice President Engineering. 

Steel Strips Wheels has entered the North American market by securing an order worth US$4.5mn to supply 175,000 wheels to Canada's passenger car aftermarket. 

Manali Petrochemicals will invest Rs1bn to increase its polyol production capacity from the current 50,000 tonnes per annum to 1,50,000 tpa. 

The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India. 

Countering DLF's claim that it was being singled out for CCI's action, a top official of the fair trade regulator said the realty giant was the only major player in Gurgaon and only a dominant player can abuse the market. 

Reliance Industries plans to raise Rs100bn through a privately placed non-convertible debenture issue to fund its ongoing capital expenditure. 

Honeywell and Tata Power Delhi Distribution announced that they have successfully implemented the first ever automated demand response project for commercial and industrial facilities in India.

Tech Mahindra has announced it will build an intelligent electric vehicle charging system to assist in Ontario's clean energy plans. The project, sponsored by the ministry of energy and funded in part through the Ontario Smart Grid Fund initiative, will analyse the effects of electric vehicle charging on transformers by creating a real-time transformer monitoring and analytics solution. 

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