Check out the companies which will be in focus during trade today based on recent and latest news developments.
Thomas Cook: Quess Corp Ltd., a subsidiary of travel services provider Thomas Cook, has acquired Styracorp Management Services and IME Consultancy for an undisclosed sum.
SAIL: Steel Authority of India Ltd. (SAIL) will soon launch a ~INR 400-crore voluntary retirement scheme (VRS) after a gap of nearly 10 years, as it looks to reduce its workforce by 1,500 from the current level of 91,000, as per media reports.
Uttam Galva: Uttam Galva Metallics has signed an agreement with South Korea's Posco to use its steel making technology at the upcoming 1.5 million tonnes plant at Wardha in Maharashtra.
Godrej Industries: Godrej Industries has sold over 2% stake in Godrej Properties in open market for Rs. 132.18 crore, according to reports.
Piramal Enterprises: Piramal Enterprises has announced the acquisition of five brands from MSD for INR 92 crore. The acquisition, done by the company's consumer products division, includes brands in the gastro-intestinal segment like Naturolax, Lactobacil and Farizym.
Oil and Natural Gas Corp: ONGC will convert Rs. 5,000 crore of existing loans into equity of its overseas arm ONGC Videsh Ltd. (OVL) in order to expand the exploration and production (E&P) business abroad.
Orchid Pharma Ltd: The company has informed BSE that Orchid Europe Limited, UK a wholly-owned subsidiary of Orchid Pharma Limited, India has entered into a long term financial arrangement to avail up to US$ 800 million as loan with Line Trust International, Guernsey, UK.
Mahindra & Mahindra: M&M has sought a reduction in the 30 per cent excise duty on its popular utility vehicle (UV) Bolero from the Uttarakhand government, as per media reports.
ONGC, IOC: Oil and Natural Gas Corp. Ltd. (ONGC) and Indian Oil Corporation Ltd. (IOC) are looking for more projects in Colombia, as per media reports.
TCS: TCS has been recognized by Gartner, Inc. as a ‘Leader’ in its ‘Magic Quadrant for Application Testing Services, Worldwide’ report, by Susanne Matson and Patrick J. Sullivan, November 23.
RCOM: RCOM is in talks with Aircel to consider the potential merger of the Indian wireless business of RCOM and Aircel.
Tech Mahindra: Tech Mahindra launched its automation framework AQTTM to help deliver continuous increase in business efficiency, making it faster, cheaper and better to our stakeholders and ourselves.
Prestige Estates Projects Limited: Prestige Estates Projects will buy back joint venture partner Red Fort Capital's over 60 per cent stake in business park Exora.
Canara Bank: The bank plans to raise Rs. 2,400 crore from bonds to fund business growth. It has received 'IND AAA' rating with stable outlook to the proposed Tier II bond issuance programme.
Jet Airways: Jet Airways has been appointed Amit Agarwal as the Chief Financial Officer of the Company with effect from December 22, 2015.
Glenmark Pharma: Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Linezolid Tablets, 600 mg, the therapeutic equivalent of Zyvox Tablets, 600 mg of Pharmacia and Upjohn Company, a subsidiary of Pfizer, Inc.
Somany Ceramics: The board has approved the issue and allotment of 35,34,600 Equity Shares of face value Rs. 2/- each to Qualified Institutional Buyers (QIB) at the issue price of Rs. 339.5 per Equity Share, amount aggregating to Rs. 120 crore.
JBF Industries: The company will issue and allot 1,63,74,370 fully paid up equity shares of Rs. 10/- each on preferential basis to KKR Jupiter Investors Pte Ltd., Singapore, at Rs. 300/- per equity share (at a premium of Rs. 290/- per equity share.)
UltraTech Cement: The limestone mine allotted to the UltraTech Cement in Chhattisgarh's Raipur district had come under the scanner as the state government announced to cancel the No-Objection-Certificate granted to the company required to commission the mining operation, due to environmental issues.
Adani Enterprises Ltd: The Australian government has approved the expansion of the Abbot Point coal terminal in north Queensland, which will enable coal shipment from proposed mining projects in the Galilee Basin, including Indian infrastructure conglomerate Adani Group’s $16 billion Carmichael mine.
Chambal Fertilisers: Chambal Fertilisers & Chemicals Ltd. on Tuesday said that its Board of Directors has approved a plan to sell its shipping business due to unfavourable outlook for global trade.
Opto Circuits (India) Ltd: The company has informed BSE that Opto Cardiac Care Limited, a subsidiary of the Company has been successful in getting back Criticare Systems Inc USA, which was placed in Chapter 128 (Bankruptcy Court) by Aurora capital, who bought the loan from the Company's lender DBS bank limited.
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