RComm deal with SSTL, Dr Reddy's launch of pain relief spray and other Top Corporate News

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

Reliance Communications has signed a definitive agreement with Sistema Shyam Teleservices Limited (SSTL) to acquire operation of MTS network in exchange for 10% stake. It has agreed to pay Rs3.9bn per year till next 10 years for spectrum licence owned by the Russian operator. 

Sun Pharma may decide to discontinue some non-strategic businesses as part of its integration process with Ranbaxy, the company it acquired last year in a US$4bn deal. 

Dr Reddy's Laboratories launched a pain relief spray, Nise D Spray. Through this, the company has expanded its offerings in the therapeutic area of pain relief.

SAIL has bagged an export contract to supply about 100,000 tonne of rails to Iran from its flagship entity Bhilai Steel Plant (BSP), which has been the sole producer of rail for the company.

Coal India has reported a provisional production of 44.4 mn tonnes as against its target of 46.8 mn tonnes in October 2015. 

GAIL has revived the 2,050-km pipeline project after eight years of uncertainty following Prime Minister Narendra Modi's push to get cleaner fuel to eastern India even though the source of the gas, customers and the funding for the project remain shaky.

eClerx Services Ltd has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 927.209 mn for the quarter ended September 30, 2015 where as the same was at Rs. 622.918 mn for the quarter ended September 30, 2014.

TVS Motor Company recorded 14% growth in sales for the month of October 2015 with total sales from 241,044 units recorded in the month of October 2014 to 274,622 units in the month of October 2015.

Blue Star announced that it has acquired 51% stake in Oman Electro Mechanical Contracting, a 100 per cent subsidiary of W J Towell.

Shemaroo Entertainment has tied up with DTH service provider Airtel Digital TV to launch movie premiere service called Miniplex. Under this ad-free subscription-based service, the company will premiere one movie every Friday on the DTH platform.

Tata Power Solar, integrated solar company, has successfully commissioned a 120 kWp solar plant at the Lotus Temple, located in New Delhi. 

The CBI’s appeal against the Delhi High Court order quashing charges against Prakash Industries and its director in a coal block allocation case will come up before the Supreme Court today, says a report in HBL.