ITC: ITC's sales of its instant noodles brand Yippee are recovering and its market share has risen to anywhere between 30 per cent and 40 per cent, Executive Director Sanjiv Puri told a local news agency.
NALCO: The company is planning to invest more than INR 37,000 crore over the next 5-7 years for expansion of existing facilities, setting up of new smelter unit overseas, development of mines and diversification in power.
Pharma stocks in focus: Pharma stocks will be in action as the Delhi High Court will hear pharmaceutical fimrs’ plea against government ban on fixed dose combinations of drugs.
Jet Airways: The airline will announce operations to Amsterdam, Netherlands later in the day.
Torrent Pharmaceuticals Ltd: Torrent Pharma is planning to raise funds through various instruments, including qualified institutional placements (QIP).
Reliance Communications: Shareholders of Sistema Shyam Teleservices approved the merger of the company with Reliance Communications, according to reports. SSTL reportedly said the meeting in Jaipur was convened by the high court to seek approval of the SSTL shareholders.
IDBI Bank: The government is planning to get two large institutional investors to buy stake in state-run IDBI Bank, according to reports.
JSPL,
BHEL: Jindal Steel and Power has slapped a Rs. 123 crore notice on BHEL, regarding delays in execution of projects at two units of JSPL’s 2,400 MW coal-based plant, according to reports.
Aurobindo Pharma: Aurobindo Pharma received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC).
Goa Carbon: Goa Carbon has temporarily shut down the operations at the company’s Bilaspur Plant located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chattisgarh) from March 18, on account of the inventory of finished material. There would not be any financial impact due to the temporary shutdown of the said plant.
Tata Steel: Tata Steel, one of India’s leading producers of steel, expects its Special Economic Zone (SEZ) project at Gopalpur in Odisha to attract a mammoth investment of up to Rs. 20,000 crore in next five years, according to a PTI report. The steel major is in talks with several foreign firms in the same regards.
Fortis Healthcare: Fortis Healthcare Limited has announced that one of our stepdown subsidiary company viz Fortis Cancer Care Limited has informed us that it has increased its shareholding in Lalitha Healthcare Private Limited (Lalitha) by 98972 equity shares (i.e. 12.2% of total share capital of Lalitha) of Rs. 10 each.
Essar Oil: Russia oil giant Rosneft has signed a preliminary agreement to acquire 49 percent stake in Essar Oil, as per reports. The deal is likely to be finalised by June.
Indian Oil: Indian Oil has signed an agreement with 3M India Ltd. for setting up 3M auto care centres at IndianOil outlets.
ONGC: ONGC has signed a preliminary agreement with Rosneft, as per report. Russian oil giant Rosneft is exploring the India Oil Market. With this agreement, Rosneft will ship crude oil and feedstock on a long term basis to ONGC’s refinery.
Zee Ent: Zee Entertainment Enterprises (ZEE) is in talks with Anil Ambani's Reliance Broadcast Network Ltd (RBNL) to acquire 49% stake in the latter's BIG FM radio business as well as a 100% stake in its television channels, according to reports.
SBI: State Bank of India has announced that the Bank has, on March 18, 2016 issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs. 10,00,000/- each at par.
M&M: Mahindra & Mahindra has announced the launch of Gusto 125. The Mahindra Gusto 125 is available in two variants – DX and VX – at Rs 50,680 and Rs 53,680 (ex-showroom, Bengaluru) respectively.
Glenmark Pharmaceuticals: Glenmark Pharmaceuticals has received tentative approval from the US health regulator for its generic version of Vimpat Oral Solution, used in treatment of epilepsy.
DHFL: Dewan Housing Finance Corporation Ltd has announced that the Company now proposes to revise the said issue to 1250 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10/- lakh each aggregating to Rs. 125 Crore including Greenshoe option to the extent of Rs. 50/- crore on Private Placement basis.
TCS: Tata Consultancy Services announced that the Million Women Mentors (MWM) program had reached two-thirds of its goal of 1,00,000 pledges from STEM (science, technology, engineering, and mathematics) mentors for young women and minorities.
Infibeam IPO, India's first in the e-commerce sector, opened today for subscription. Infibeam, promoted by Ajit Mehta, Vishal Mehta, and Malav Mehta, has opted to raise Rs. 450cr directly from the primary market.
