Top Corporate news of the day - September 24, 2015

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

Wind turbine manufacturer Suzlon has bagged contracts from SMEs and public sector undertakings (PSU) to supply 50 turbines of 2.1 MW each in various parts of the country. Suzlon will supply its multi-megawatt S95-90m, S97- 90m, S97-120m turbines and will leverage on its turnkey wind solutions expertise to oversee the project operations from start to end. 

Bharti Airtel has signed an agreement to use Liquid Telecom's fibre network to connect its mobile base stations across Africa, which will let its subscribers in the region to access better speeds on its 3G and 4G networks. The company, however, did not share the financial details of the deal. 

Pune based Sterlite Technologies is set to acquire Elitecore Technologies, a provider of operations and business support services for an overall enterprise value of around Rs1.8bn in an all-cash deal. (BS)

Orient Green Power Co Ltd (OGPL) has raised Rs2.5bn from existing promoter Shriram Venture Ltd (SVL) and its subsidiaries and financial investors, including EW Special Opportunities Fund II and Ecap Equities, through preferential allotment.

Industrial group Larsen & Toubro is looking to sell some assets including roads and infrastructure projects and dilute its stake in non-core subsidiaries to revive performance. The company will also appoint individual unit chief executives and individual boards to encourage independence and boost returns among its more than 70 businesses.

 Ending months of uncertainty, Pfizer is set to sell its vintage plant in Thane to little-known Vidhi Research and Development for Rs1.8bn. The Thane facility is one of Pfizer’s oldest and was commissioned in the 1960s. 

Rural Electrification Corporation signed an MoU with Andhra Pradesh power utilities to extend a fresh loan of Rs90bn. The Central public sector enterprise, set up with a main objective of financing rural electrification projects in the country, had already extended loans to the tune of Rs280bn for various projects in Andhra Pradesh. 

Britannia Industries pensioners have won a decade-long battle, after a Bengaluru court directed the biscuits major to pay pensions to its former employees who retired after March 2003 and also the triennial rise for them stopped in April 2004. Britannia had converted the defined benefit pension scheme to defined contribution type with retrospective effect, to deny the pensioners dues since 2003, going against the existing fund rules.

SKS Microfinance announced a 1.25% cut in the interest rate to 20.75% with effect from October 1 for all future disbursals. This is the third interest rate cut and an overall reduction of 3.8% since October 2014.