Thursday, June 4, 2009

Corporate News

M&M and Tata Motors figure amongst the global list of firms being considered by General Motors for a possible sale of small car brand Saturn. (ET)

Suzlon is planning to raise Rs6bn from private equity investors to fund the acquisition of RE Power. (ET)

Tech Mahindra is looking to pre-pay Rs3bn loan taken by Satyam in February 2009. (ET)

Tata Motors has bagged an order to supply 4,689 buses for the JNNRUM project. (BL)

DLF has put its Andheri (Mumbai) project on the block. (ET)

GVK Power is planning to raise Rs25bn via the QIP route. (ET)

Reliance Industries has stopped exporting petroleum products to Iran. (ET)

Reliance Industries' German textile arm Trevira has filed for bankruptcy. (ET)

BHEL bags Rs3.75bn order for installing two gas turbines generating unit in Oman. (ET)

NHPC likely to float Rs16.7bn IPO in August 2009. (BS)

Union Bank eyes business of Rs3trillion in FY10. (BS)

Cadila aims US$1bn sales in FY11. (FE)

Anand Mahindra ceased to be a promoter of Kotak Mahindra Bank after reducing his stake to 3.68% from a peak of nearly 15%. (ET)

Tata Power to generate 5MW from geothermal, solar plants in Gujarat. (BL)

HPCL plans to invest Rs6.1bn in two sugar mills it has bought in Bihar to manufacture Ethanol. (BS)

LIC Housing Finance plans to raise capital by issuing 10mn shares through QIP route. (BS)

Government has kicked off disinvestment process by putting up Indian Telephone Industries on the block. (ET)

Religare rights issue price may be raised to Rs400. (ET)

Pantaloon Retail has delayed its restructuring plan as it awaits a favorable FDI policy. (ET)

Aptech sells stake in China joint venture company. (BL)

Kinetic Engineering bags an order from European auto major. (BL)

Network 18 to raise Rs1.2bn through preferential allotment of shares to Asian private equity firm SAIF Partners. (BS)

SEBI has cleared Rs160mn open offer for Spice Mobiles. (FE)

TVS Motors arm to venture into car accessories business. (FE)


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