Wednesday, July 1, 2009

Corporate News

Government is contemplating action against RIL for committing 28 mmscmd from its KG basin to RNRL at a price of US$2.34 per mmBtu without its permission. (ET)

ONGC Videsh, the overseas arm of the ONGC has put in a bid for Zubair oil field in Iraq in consortium with Russia's Gazprom and Turkish Petroleum. (ET)

GMR Infrastructure abandons its attempt to raise Rs20bn in off-market share sales to institutional investors after they showed little interest in the offering. (ET)

RIL has said in a letter to RNRL that it would not sign any agreement involving gas supply, price, quantity and tenure without the government's approval. (BS)

LIC Housing Finance cuts interest rates for existing borrowers. (FE)

IOC to invest over Rs600bn for capacity expansion . (BL)

Unity Infra to raise Rs2.5bn via QIP . (BL)

Jet Airways, Sahara fails to resolve dispute. (FE)

SBI cuts home loan rates for first three years. (ET)

Blackstone, KKR and Capital International are in race for buying a stake worth $250-300 million in United Spirits. (ET)

GVK Power QIP's to raise Rs25bn. (ET)

Gammon Infra to mop up Rs10bn through the issue of securities in the market. (ET)

Motherson Sumi Systems to acquire the stake of its partner Wilhelm Pudenz and Wickmann Werke in the JV firm Motherson Pudenz Wickmann. (BS)

Lupin has acquired the global rights for an intra-nasal steroid (INS) product, AllerNaze. (ET)

PAIDF invests Rs4.5bn in Essar Telecom Kenya Holdings, the Essar group's telecom arm for African operations, for an undisclosed stake. (ET)

IOC, BPCL and HPCL has raised jet fuel prices by 6%. (ET)

DLF's plan to buy DE Shaw's stake in DAL hits roadblock. (ET)

HCL Technologies bagged a five-year IT applications support and infrastructure management deal from US-based beverages firm DPS. (ET)

TCS sees muted growth in next few quarters . (BL)

Reliance Power, part of the ADAG, is in talks with five leading global power companies to sell 15% equity stake in the company. (BS)

United Spirits Ltd. (USL), the flagship spirits firm of the Vijay Mallya-owned UB Group, has raised close to Rs9.5bn through a open market sale. (BS)


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