Thursday 1 October 2015

Top Corporate news of the day - October 01, 2015

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


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Alleging bias, Nestle India Limited told the apex consumer commission that it was being "singled out" by the government in the Maggi noodles ban case as no action was being taken against other manufacturers of similar products. 

Reliance Communications Ltd (RCom), will partner with Reliance Industries Ltd's telecom subsidiary to launch fourth-generation (4G) mobile phone services by year-end, the company's chairman said.

After degrading capacity of its one million tonne alumina refinery at Lanjigarh by 35%, Vedanta Ltd is looking at options to source alumina from the domestic market to cut its dependence on high cost alumina imports. 

Inox Wind said it has bagged a 50 Mw wind power project in Gujarat from a major minerals and lignite mining company GMDC. 

Tata Communications and MasterCard have partnered to financially empower 25,000 women in developing economies like India, Nigeria, Indonesia and Guatemala and aim to take the number to 100 million by 2020. 

Larsen & Toubro said its construction arm has won contracts worth Rs13.76bn in power transmission and distribution business this month. 

In one of the largest office deals in the country, Godrej Properties sold 0.43 million sq ft of office space at its commercial project, Godrej BKC, in Bandra-Kurla Complex (BKC) area in Mumbai to pharma company Abbott for Rs14.79bn. 

Axis Bank, the country's third largest private sector lender, has reduced its base rate by 35 basis points to 9.50%. 
Blue Star Infotech (BSIL) has announced that its board has decided to sell the entire information technology (IT) business of the company on a slump sale basis to Infogain. 

Vivimed Labs Ltd has entered into a definitive agreement for sale of some of its specialty chemical products to Clariant Chemicals (India) Ltd, an arm of Switzerland based Clariant AG, for Rs3.80bn. 

Kalpataru Power Transmission (KPTL) has bagged two contracts worth Rs7.81bn.  

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