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.

IL&FS Transportation receives LoA for project worth Rs 587.60 crore

IL&FS Transportation Networks has received a Letter of Acceptance (LoA) dated July 10, 2015 from Government of Jharkhand for 6 laning of Ranchi Ring Road, Section VII from Kathitanr to Karma comprising of 23.575 Kms. for development by Jharkhand Infrastructure Implementation Company, a subsidiary of the company on a Built Operate Transfer (BOT) basis.

The project is on annuity basis with a concession period of 17.5 years including construction period of 2.5 years. The estimated cost of the project is Rs 587.60 crore. The company shall receive a semi-annual annuity of Rs 55.82 crore.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

Tata Motors launches Veerangana Express cab service in Gwalior

Tata Motors, India’s largest commercial vehicle manufacturer has partnered with Laxmibai Mahila Nagrik Sahakari Bank and SGS Motors in Gwalior to launch the Veerangana Express - an affordable, comfortable, convenient and safe cab service for women, by women in Gwalior. The Veerangana Express will use Tata Motors’ most acclaimed last mile passenger transport solution - the Tata Magic IRIS, a stylish, safe and comfortable alternative for commuters who depend on three-wheelers.

The Veerangana Express cab service managed by a group of Ladies, will ply within Municipal limits in Gwalior. This programme has been funded by Laxmibai Mahila Sahakari Bank and is being supported by the District Collector and Transport Department. This service is being assisted by the District Industrial center by way of 30% subsidy (on-road price) under ‘Mukhya Mantri Swarojgar Yojana’ which is an initiative by the Chief Minister, Madhya Pradesh.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.

Corporate Announcement

 Board Meeting on March 30, 2015

Gujarat NRE Coke Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 30, 2015, inter alia, to consider the draft Scheme of Amalgamation of NRE Metcoke Limited and Bajrang Bali Coke Industries Limited with the Company i.e. Gujarat NRE Coke Limited and other connected matters.

Further the trading window as per Insider Trading Code of the Company shall remain closed from March 26, 2015 to March 31, 2015 (both days inclusive).

Corporate Announcement TECHM

Three Ireland and Tech Mahindra officially open customer service centre in Waterford

Tech Mahindra Ltd has informed BSE regarding a Press Release dated February 06, 2015 titled "Three Ireland and Tech Mahindra officially open customer service centre in Waterford".

Corporate Announcement

Arvind Limited

Press Release

Arvind Limited has informed the Exchange regarding a press release dated February 05, 2015, titled "Arvind Q3 Revenue up by 17% at Rs 2074cr.; Profit up 9% at Rs 112 cr".