Thursday, June 25, 2009

Corporate News

SBI slashes PLR by 0.5% to 11.75%. (ET)

ONGC will have to pay Rs137.9bn in royalty to the government on behalf of Cairn India for its Rajasthan oil field. (BS)

Aditya Birla Group may merge Grasim and Ultratech. (ET)

PowerGrid may raise Rs30bn via follow-on offer. (BL)

Jaiprakash Power Ventures, a wholly owned subsidiary of Jaiprakash Associates is set to merge with Jaiprakash Hydro Power. (BS)

RCom signs a long term revenue sharing deal with US based EA Mobile under which, the latter will offer its award winning games to the telco. (BL)

RCom to launch MobiTV on GSM. (BL)

Tech Mahindra to raise Rs10bn. (ET)

ABB bags orders worth Rs2.2bn from Tata Projects to provide power products and solutions. (FE)

Ashok Leyland has deferred construction of its proposed LCV facility in partnership with Nissan. (BS)

TVS Motors launches Flame SR125 without twin spark plug. (BS)

Essar E&P,
a wholly owned subsidiary of Essar Oil, is set to begin CBM production at Ranigunj block in West Bengal. (BL)

Bank of India to raise up to Rs130bn. (BS)

Glenmark's diabetes drug to enter Phase III trials by 2009-end. (FE)

Educomp has sold 50% stake in its vocational education and skill training subsidiary to the UK-based publishing house Pearson for US$17.5mn. (ET)

Peninsula Land to raise Rs7.5bn by way of equity issue. (BS)

KS Oils has acquired an additional 35,000 acres of land in Indonesia for oil palm plantation. (ET)

Srei Equipment Finance plans to raises up to Rs75bn debt in the current financial year. (BS)


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