Friday, June 19, 2009

Corporate News

Infosys files advance prospectus with SEC to register new securities.(BL)

TCS opened its third delivery unit in Mexico, plans to hire 500 professionals during the current year for that facility. (FE)

Unitech to sell more properties to raise funds in 2009-10. (BL)

Tech Mahindra gets approval from US anti-trust authority regarding its open offer for purchase of an additional 20% stake in Satyam Computers. (BL)

DLF has decided against selling its core assets which it had put on the block as the banks have resumed lending to the company. (ET)

IOC's refining margin may go up to US$5a barrel in Q1. (BL)

JSW Steel and Essar Steel are likely to ramp up production at mills in North America. (BS)

Jaiprakash Associates raised Rs5bn through the sale of 250mn treasury shares. (ET)

Reliance Infrastructure and Hyundai Engineering is expected to bag the contract to connect Bandra-Worli Sealink with Haji Ali at an estimated Rs15bn. (ET)

JSPL, JSW Stainless, Hindustan Zinc and NALCO face the prospect of losing their allotment of captive coal mines as the Ministry issues show-cause notices for failing to achieve key milestones. (ET)

Sesa Goa plans to export 0.5mn tons of iron ore fines. (ET)

Tata Motors plans to set up exclusive showrooms for JLR in smaller towns as a part of its India specific marketing and distribution strategy. (ET)

HDFC and HDFC Bank have trimmed deposit rates by 25bps across various maturities. (FE)

Shree Renuka Sugar plans to expand its capacity to 2,000 tons/day from 1,000 tons/day at its Athani unit in Karnataka. (FE)

Dish TV to invest Rs16bn in 2 years.

UTV to invest Rs2.7bn in gaming, including an acquisition and investments in intellectual properties. (BS)

Sterlite Technologies, backed by Chinese vendor Huawei, bags Rs2.5bn contract by BSNL. (BL)

AP government is mulling options of scrapping Rs122bn Hyderabad Metro rail project deal with Maytas Infra-led consortia. (BL)

Havells expects Rs5bn in export earnings over 3 years. (BL)

Royal Orchid Hotels plans to quadruple the number of rooms from the current 1,000 rooms. (BL)

Godrej group sets up M&A cell to explore opportunities in India and abroad. (BL)

looking for new call centre operator in Mumbai circle. (BL)

iGate to hire 400 people this year.

LIC seeks permission of IRDA to raise stake in PSBs beyond 10%. (BL)

US based auto component giant Visteon has approached Amtek Auto for the sale of its plants and business. (ET)

ITC Foods, the foods division of ITC, is likely to report a maiden profit this year. (ET)

Elder Pharmaceuticals has signed an agreement with US based MD Anderson Cancer Center to conduct human experiments for its newly discovered anti-cancer drug. (ET)

Air India and SpiceJet announced an increase in fuel surcharge of Rs400/ticket. (FE)

IIFCL disburses Rs54bn for various infrastructure projects. (ET)

Deep Industries bagged Rs296mn contract from ONGC for charter hiring. (FE)

Indowind Energy to invest Rs1bn this fiscal. (BL)

Pyramid Saimira board will meet on June 26 to consider raising funds by placing shares with QIB. (FE)


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