Monday, June 1, 2009

Corporate News

Maruti Suzuki's car sales in the domestic market increased 8-10% in May 2009. (ET)

Multiplexes resolution is expected before June 12. (BS)

M&M to undertake major revamps of its tractor business. (ET)

Bharti Wal-Mart, the JV between two companies to invest over US$100mn in setting up 15 more such outlets in the next three-four years. (BS)

Coal India to sign an agreement with NTPC for setting up a 4,000-MW pithead power plant at Brahmani block near Rajmahal in Jharkhand. (ET)

IOC, BPCL and HPCL raised the ATF price by an average of Rs108/kl. (BS)

Steel UK lenders agreed to reset the terms and conditions for a £3.7bn loan that was taken at the time of the acquisition of Corus. (ET)

Wockhardt in talks with a number of multinational Pharma companies including Eli Lilly, Roche, Sandoz, Pfizer and Sanofi-Aventis to find a strategic partner for its biosimilar business. (ET)

Airways freezes fleet expansion for now and put off aircraft deliveries for two years. (ET)

Real estate developers may spring up more than a hundred malls spread over 30mn sq ft in the country by end-2010. (DNA)

PNB plans to expand its branch network by 10% in 2009-10. (DNA)

Unitech plans to repay about Rs20bn of its debt and bring it below Rs60bn level by the end of this fiscal. (DNA)

Axiata Group may increase its stake in Idea
Cellular through a hostile open offer. (DNA)

Motors plans to lower capital expenditure committed earlier and reduce exposure to vehicle financing. (DNA)

NTPC is looking at acquiring coal assets in Mozambique and Indonesia.

GMR International, wholly-owned subsidiary of GMR Infrastructure, signed an agreement with InterGen NV to acquire 100% ownership stake in Island Power Singapore. (BS)

The board of Bharati Shipyard decides to make an open offer for Great Offshore. (ET)

The government at the Centre plans to raise Rs100bn through stake sales in state-owned units over the next one year. (ET)

Indiabulls Real Estate decides to write off the entire investment in its retail arm. (ET)

SCI enters into an agreement with Geneva-based Mediterranean Shipping Company to run its European service. (BS)

Oman Oil Company to buy a 26% stake in the upcoming refinery at Bina for Rs12bn. (BS)

Birla Retail, Bharti Enterprises, Reliance Retail, Trent, Mahindra Retail and others to open new stores spread over 5mn square feet. (BS)

Rectifiers sets up a facility for manufacturing transformers at Moraiya in Ahmedabad with an investment of Rs1bn. (BS)

Orissa government recommends the prospecting license for Horomoto iron ore mines in favour of Jindal
Stainless, which is setting up a 1.6mn tonne per annum integrated stainless steel project at Kalinganagar in Jaipur. (BS)

Oliver is likely to go in for a rights issue. (DNA)

Infrastructure to exit non-core operations and remain focused on water-related projects. (DNA)

Raj may raise Rs20bn via QIP route. (DNA)

Power Company plans to add 200 megawatts of capacity in the current fiscal year. (FE)

India not increasing its equity now and is also not considering delisting of its stock. (BL)

RBI to allow SBI to guarantee the recently-concluded Rs42bn non-convertible debenture issue by Tata Motors. (ET)

Mindtree plans to address the healthcare market for technology solutions. (ET)

MNC arms' delist plans may hit price wall. (ET)

Shopper Stop to invest Rs400mn to roll-out 3-4 stores in the current fiscal. (BS)

Tata Motors aims to sell 4,000 World Trucks in the current financial year. (BL)

Shriram Transport Finance Company is looking to invest Rs40bn for an acquisition. (BS)

SBI plans to add atleast 40mn new deposit customers from the rural area by FY11. (BL)


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