Monday, 9 May 2016

ITC resumes cigarette production & other Top Corporate News

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


Eicher Motors, the maker of Bullet motorcycle has announced plan to invest Rs 10bn in FY-17 to fund its expansion plans.

BSNL Ltd is in advanced talks with Reliance Jio and Vodafone for signing a 2G roaming agreement this month.

Buoyed by sale of over 100,000 vehicles equipped with auto gear shift, Maruti Suzuki plans to offer this technologies in more models sold in the domestic market. 

Lakshmi Vilas Bank new chief executive has drawn up an ambitious 10-year plan to revitalise business and has set up big targets to improve performance on a variety of operational parameters. 

Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed commercial assets worth Rs 15bn during this fiscal as the realty firm seeks to achieve higher growth. 

ITC Ltd cigarette factories have resumed production in a phased manner with the specified 85% graphical warning pending hearing by the Karnataka High Court.

Kalyan Jewellers is aiming for a turnover of INR 13,000 crore in the current fiscal year, reports a business daily.

Emami is aggressively looking at acquisitions in India and abroad, Chief Financial Officer N.H. Bhansali has been quoted as saying by a business daily.

HSBC's brokerage arm has slashed the paper valuation of restaurant-discovery platform Zomato, reports a business daily. Zomato Media Pvt Ltd has been valued at ~US$500 million by HSBC Securities & Capital Markets (India) Pvt Ltd, about half the valuation at which the restaurant search firm raised its last round of funding in September, says the daily.

The state-run Steel Authority of India Limited (SAIL) would curtail the strength of its workforce in a move aimed to reduce the manpower cost in the company.

Public lender Bank of Baroda and Max Bupa, a specialist health insurer, today put in place a bancassurance corporate agency agreement. 

PVP Ventures Ltd has said that it has amended a Joint Development Agreement (JDA) with North Town Estates Pvt Ltd under which the latter will release 20 acres of undeveloped land in Chennai to PVP Ventures. 

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