Tuesday 23 June 2015

Top corporate news of the day- June 23, 2015

City Union Bank Ltd is looking at raising around Rs5bn through Qualified Institutions Placement (QIP) as part of its business growth plans.

Bank of Baroda (BoB) is making a course correction in its strategy for overseas business. While it prides itself as "India's international bank", its branch presence in India's neighborhood has been weak.

 JSW Steel, an integrated low-cost steel producer, is planning to drastically reduce import of iron ore during 2015-16 to feed its furnaces in Karnataka, Maharashtra and Tamil Nadu as the domestic iron ore production is set to increase this year.

Blue Dart Express said it has become a majority shareholder in Blue Dart Aviation after purchasing additional 21% stake.

 Wockhardt has received approval from the US health regulator to market its Oxycodone HCl liquid, used for treating chronic pain, in the American market.

RIL  said its subsidiary Reliance Jio Media has received provisional registration from the government to operate as multi service operator at pan-India level in digital cable TVspace.

 Aurobindo Pharma has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Entacapone tablets and Azithromycin injection.

The Centre has so far transferred the environment clearance (EC) of 19 coal blocks out of approved 29 mines from the earlier allottees to the new successful bidders including JSW Steel, GMR Chhattisgarh Energy, Jaypee Cement and Ambuja Cements among others.

 In order to tap into the booming e-commerce market in India, ICICI Bank,  has tied up with Chinese e-commerce giant Alibaba to provide easier trade finance to small and medium enterprises in the country.

 State Bank of India plans to launch its second dollar bond sale of the fiscal year to raise US$1.5 bn, or even more, to utilise the window available to borrow at a lower cost before the US Federal Reserve possibly raises rates later this yea.  Hero Electronix will acquire a majority shareholding in Mybox Technologies , the largest multi operator  manufacturer of set top boxes in the country.

Larsen & Toubro (L&T) said it has won orders worth Rs 15.07bn across various business verticals. 

No comments:

Post a Comment