Check out the most important news stories which captured the headlines at the corporate level in India and internationally.
TVS Logistics Services, part of TVS Group, has announced that its Singapore-based joint venture arm TVS Asianics Supply Chain Solutions entered into an agreement to acquire majority stake in Australia-based Transtar International Freight with a total investment of around Rs2bn including for expansion.
ICICI Bank launched a service ‘mVisa’ to enable customers to make electronic payments from their smartphones at physical stores, e-commerce and other deliveries at home, radio taxis, and utility billers, among others.
Crompton Greaves announced the divestment of its entire 50% shareholding in CG Lucy Switchgear Limited to W Lucy & Co Limited, UK for a consideration of Euro 5.5 mn (c.Rs400 mn).
Cipla has tied up with Serum Institute of India to distribute vaccines in South Africa.
Reliance Infrastructure will sell its cement business as part of plans to cut debt through sale of non-core assets.
CARE has upgraded assigned investment grade BBB- rating to Suzlon for its outstanding bank facilities and to the proposed commercial paper instrument. The rating is valid until September 15, 2016.
Apollo Hospitals Enterprise said its subsidiary Apollo Health & Lifestyle plans to invest up to Rs5bn for expansion going forward.
Moody's assigned lowest investment grade rating, Baa3, to Mahindra & Mahindra, although with a stable outlook.
Tribhovandas Bhimji Zaveri announced an arrangement with Snapdeal to showcase their high quality diamond jewellery and gold coins anytime, anywhere on online marketplace.
Man Industries announced that it has received orders worth c.Rs7bn from international and domestic customers for supply of pipes for oil, gas and water sector projects.
Rajesh Exports has bagged an export order worth Rs.13.6bn for gold and diamond studded jewellery and medallions from the UAE.
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