Friday 29 May 2015

Top corporate news of the day - May 29, 2015

RINL and PowerGrid signed a shareholders’ agreement to form a joint venture company, RINL-POWERGRID TLT Limited, with 50:50 shareholding for setting up a unit to manufacture transmission line towers her. 

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Royal Enfield unveiled a range of limited edition bikes, inspired by the ‘despatch riders’ of the World Wars, which will be sold online only.

RINL and PowerGrid signed a shareholders’ agreement to form a joint venture company, RINL-POWERGRID TLT Limited, with 50:50 shareholding for setting up a unit to manufacture transmission line towers her. 

Cox & Kings-owned MEININGER Hotels and HGHI Holding have signed a contract for a new hotel in Berlin.

Arvind Limited will open the first store of US-based fashion brand GAP in Delhi on May 30. 

Mahindra World City said it will set up an industrial park near Chennai along with Sumitomo Corporation at an investment of about Rs.3750mn. 

Max Healthcare to acquire 76% stake in Pushpanjali Crosslay for Rs.2870mn.

The Indian government wants to list ONGC Videsh, the overseas arm of top Indian oil explorer Oil and Natural Gas Corp.

Edelweiss Tokio Life Insurance said its foreign partner Tokio Marine will hike stake in the joint venture to 49%. 

Lanco Infratech, which has been in the market to sell assets across businesses to reduce debt, has decided to put on hold all divestment plans in India by another two years on hopes of better valuation as it believes the business environment is improving.

BASF opened a research and development centre for agrochemicals at Pune, its first in the country, at an estimated investment of Rs.640mn.

Aircel is expanding its 3G footprint in Uttar Pradesh (East) circle to include more upcountry and sub-urban markets. 

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