Friday, May 22, 2009

Corporate News

Infosys plans to raise US headcount by adding 1,000 employees in next 12-18 months. (BS)

Tata Motors to raise US$1bn through ECBs. (BS)

Bajaj Auto and Renault's plans to launch a small car might be delayed owing to branding issues. (ET)

Bajaj Auto to launch low cost car by 2011. (BS)

A division bench of Madras High Court has ruled that the TVS Motors can manufacture and market 125cc Flame in its original form. (ET)

Cairn India to sell Rajasthan crude at a discount of about US$16/bbl to the grade of ONGC's Mumbai High crude oil. (BS)

Maruti Suzuki's share in Suzuki Motor Corp's revenues has risen to 46% in FY09 from 30% in FY08, which will enable Maruti to get more freedom to take key decisions. (ET)

Tata Steel gets nod for Ankua iron ore mine. (FE)

Tata Power has been asked to provide fixed asset as collateral to hedge a Rs80bn foreign exchange loan. (BS)

HCL Tech signs a global outsourcing deal with MTV Networks to develop and support its online media platforms. (ET)

ICICI Bank gets more time to deposit guarantee amount for Maytas' highway project in Tamil Nadu. (ET)

Bharti Airtel to launch sub-Rs8,000 online computers powered by Microsoft and Nivio. (BS)

Reliance Power to invest Rs120bn in Arunachal Pradesh for executing 2,520MW hydro power projects in the next five years. (FE)

Reliance Capital is planning to list Reliance Life Insurance by divesting 26% in the company. (ET)

DLF is close to sell off its subsidiary DLF Wind Power to French Company Eole-Res for Rs10bn. (FE)

Dr Reddy's is moving all its drug R&D assets to its wholly-owned subsidiary Aurigene, effective July 1. (BS)

Ranbaxy acquires entire range of skin care and lifestyle products of Ochoa Labs. (BS)

Patel Engineering has bagged an order worth Rs7bn. (BS)

Bata India plans to open 240 stores in three years. (ET)

The Enforcement Directorate has sent a notice to Apollo Hospitals on charges of possible FEMA violations. (ET)

Areva T&D bags order to build a 400KV sub-station at Kharagpur. (BS)

Parsvnath to invest Rs1.3bn in developing an IT park in Gurgaon. (BS)

MRF to shift tyre production temporarily from its facility in Tamil Nadu to its Medak factory in Andhra Pradesh. (BS)

Coal India may raise prices to offset wage pressure. (BS)

MMTC to import 12.5mn tons of coal for NTPC. (BS)

Opto Circuits gets approval to sell its products in Brazil. (BL)

Pfizer has acquired rights to 60 products of Aurobindo Pharma. (BL)


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