Wednesday 3 June 2015

Top corporate news of the day - June 3, 2015

Apollo Hospitals Enterprise has announced acquisition of majority stake in Guwahati-based Assam Hospitals for a consideration of around Rs.572mn. The acquisition is expected to strengthen Apollo Hospitals' presence in the Northeast 

Newspaper
Apollo Hospitals Enterprise Ltd (AHEL) has announced acquisition of majority stake in Guwahati-based Assam Hospitals Ltd for a consideration of around Rs.572mn. The acquisition is expected to strengthen Apollo Hospitals' presence in the Northeast

Sun Pharmaceutical and AstraZeneca Pharma India (AZPIL) said they have entered into a distribution services agreement to distribute AstraZeneca's heart disease treatment drug 'Axcer' in India.

In keeping up with its brand acquisition spree, Emami Ltd has acquired Kesh King - anayurvedic hair oil brand - the biggest of Himachal Pradesh-based SBS Biotech. The deal has been valued at Rs16.51bn.

BHEL has bagged its largest order amounting to Rs179.5bn from Telangana State Power Generation Corp (TSGENCO) to set up a 4,000 MW plant at Yadadri.

Reliance Industries will produce 23 mn standard cubic meters per day of more gas from five discoveries in the flagging KG-D6 block by 2016-17, the Oil Ministry said in its latest annual report.

Tata Global Beverages is planning to make its acquired coffee brand from Australia, Map, a power brand in its portfolio. 

Reliance Industries will sell its 49.9 % stake in a US joint venture that owns a pipeline network for transportation of shale oil and gas to New York-listed Enterprise Products Partners for US$1.07bn.

Reliance Communications is pursuing multiple deleveraging options, especially in non-core assets, which should help it lower net debt-to-EBITDA ratio to almost 3.5 by March 2017.

Corporation Bank is keen to raise its current account savings account (CASA) ratio to 25 % by end March 2016, its Chairman and Managing Director S R Bansal has said.

Jet Airways has handed over pink slips to 50 of its expat pilots by prematurely terminating their contracts, bringing their number to 88, as part of its cost-cutting measures as well as reducing dependency on the high-cost overseas flight crew.

Godrej Properties has launched a residential project on the Doddaballapur Yelahanka main road in North Bengaluru under profit-sharing model. 

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