Friday, May 15, 2009

Corporate News

NTPC signs a loan agreement with SBI for Rs85bn for funding a basket of projects (BS)

BHEL wins an order worth Rs14.75bn for a 600MW thermal power plant in Chattisgarh (ET)

Cairn India is open to buying ONGC's 30% stake in its oil block in Rajasthan (BS)

ONGC could report a drop in profit for 2008-09 with Government planning to ask the company to shell-out more cash to make-up for the losses of fuel retailers (ET)

HDFC to reduce deposit rates (ET)

HPCL may post a net loss of Rs4-5bn in FY09 (ET)

IOC signs term loan pact for Paradip project (BL)

Tata Power moves to Supreme Court challenging Government's decision that allowed Reliance Power to divert surplus coal from the Sasan power project (BL)

ONGC may cancel Rs10bn order which it had placed with Great Offshore three years ago for a rig (ET)

AB Nuvo to shut down ammonia and urea plant operations at Jagdishpur due to sudden breakdown (FE)

Axis Bank cuts PLR by 50 bps to 14.75% wef May 15th (FE)

PowerGrid to raise up to Rs30bn through issue of bonds by August 2009 (ET)

Eveready to acquire a French company for Rs600mn (ET)

Chettinad Cement to expand capacity at its Tamil Nadu unit (BL)

Shiv-vani Oil may miss deadline for supplying rigs to ONGC (BL)


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