Wednesday 27 May 2015

Top corporate news of the day - May 27, 2015

Lupin has confirmed that it was among the pharma companies that had received communication from the European Medicines Agency with regard to suspension of some medicines.

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Lupin has confirmed that it was among the pharma companies that had received communication from the European Medicines Agency with regard to suspension of some medicines.

Adani Group is planning to enter defence and aerospace manufacturing sector.

With the intention of touching a $2bn revenue target by 2020, Avvashya Group company Allcargo Logistics will be investing $500mn in the next three-five years towards organic as well as inorganic growth of its business.

Ahluwalia Contracts Ltd aim to bag orders worth Rs.16bn this year.

Punj Lloyd said it has won a Rs.5420mn road project in Bihar from National Highways Authority of India.

IL&FS Transportation Networks said that it has emerged as the lowest bidder for two road projects worth Rs.3150mn offered by the Madhya Pradesh government.

Mahindra and Mahindra, which entered the two-wheeler business six years ago, will intensify marketing efforts to grow its market share by five-fold to about 5%.

Raymond Ltd has rebranded its bed and bath range of home furnishing products as “Raymond Home” to exploit the opportunities in the rapidly growing branded home textiles segment.

Alstom Bharat Forge Power Ltd, a joint venture between Alstom and Bharat Forge Ltd, has commenced production of supercritical turbines and generators at its new Greenfield manufacturing facility at Sanand.

DLF Ltd has been directed to pay nearly Rs.800mn to a private company for rescinding from an agreement for construction and sale of a tower in Gurgaon, by an Arbitral Tribunal which said it breached contractual obligations to make profits.

Crompton Greaves has bagged an order in Portugal to supply data concentrator units, a system used in smart grids, to Energias de Portugal.

With the benchmark rate softening, PowerGrid Corporation of India is back in the bond market, with the triple-A rated company raising about Rs.30bn by selling bonds for the first time in the current financial year.

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