CORPORATE
ANNOUNCEMENTS
JSW, Ispat cut steel prices
New Delhi, May 3 Responding to Government efforts to curb steel prices by cutting customs duty on certain inputs, two steel companies — JSW and Ispat — on Saturday announced reduction in prices in the range of Rs 400-Rs 700 a ...
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PREFERENTIAL ALLOTMENTS
M&M makes pref offer to Goldman Sachs arm to raise Rs 700 cr
On conversion stake will be 3.68%
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CORPORATE BONDS
Capital called for
Mahindra and Mahindra is planning to raise Rs 700 crore through allotment of convertible debentures to a Goldman Sachs controlled entity. Each debenture may be converted into a share at a price of Rs 745 within 18 months of ...
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RESTRUCTURING
Essar Shipping lines up $800 m to buy 14 ships
Reorganisation process to be completed by September this year
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NEW PROJECTS
MRF plant
Tyre major MRF plans to build a new plant at Perambulur and expand the existing ones in Tamil Nadu. It will initially invest Rs 900 crore for ramping up its radial tyre capacity and then plans to double it to 7 lakh in the second ...
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OVERSEAS INVESTMENTS
Country Club buys boutique hotel in Dubai
Hyderabad, May 3 Country Club India Ltd (CCIL) has announcing the acquisition of a boutique luxury property in the Emirate of Dubai for 165 million AED (approximately Rs 175 crore). Because of the strategic location of Dubai and its ...
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‘Cos wanting to tap AIM must be prepared to make full disclosure’
Companies wanting to tap AIM for funds must be prepared to make full disclosure to their investors, remark Mr Mike Edwards, Director, and Mr Daniel Mackelden, Head of London Operations of international law firm Cains, in an interview with More
PERFORMANCE
Corporate India’s profit growth decelerates sharply in Q4
But core business and not ‘other income’ drives earnings
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Tata Motors sales down 5.8%
Tata Motors total sale declined 5.8 per cent to 38,149 vehicles in April from 40,486 vehicles it sold in the same period last year, said a release issued by the company. The decline is largely on account of the 12-per cent dip in the passenger ...
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