Friday 26 June 2015

Top corporate news of the day- June 26, 2015

Jet Airways plans to raise US$ 400mn through non convertible debentures or bonds to fund its expansion. 

Newspaper
Jet Airways plans to raise US$ 400mn through non convertible debentures or bonds to fund its expansion.

Aiming to provide internet connectivity in the rural and remote areas across the world,  Bharti Group has acquired a strategic minority stake in OneWeb, a satellite internet company for providing affordable internet access.

ICICI Bank marginally reduced its base rate to 9.70 % from 9.75 % earlier, making its lending rate at par with industry leader SBI and that of HDFC Bank.

With the rising demand for eco-friendly paints in India, Clariant is eyeing huge growth potential for its innovative range ofpigments in India.

The government wants CIL to keep coal prices low for cheaper power tariff.

While state-run banks may be hesitant to fund new infrastructure projects, private lenders such as Srei Infrastructure are rolling up their sleeves. The company is on road to raise up to Rs5bn in five-year bonds. 

RS Agarwal and RS Goenka, the founder promoters of the Rs. 90 bn Emami group have set up a family advisory board with representation from the younger generation of the two unrelated families as part of a succession plan at the Kolkata-based diversified conglomerate which has interests ranging from fast moving consumer goods to real estate.

Emami Agrotech plans to invest Rs2.5bn to set up an edible oil refinery in Gujarat.

Gujarat Alkalies and Chemicals Ltd (GACL) and National Aluminium Company Limited (Nalco) have signed an agreement on June 23, 2015 for the formation of a joint venture to manufacture caustic soda. 

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