CORPORATE
ANNOUNCEMENTS
M&M to seek Govt support for buyers
For easy roll-out of Scorpio hybrid
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PREFERENTIAL ALLOTMENTS
Value unlocking
The State Bank of India has picked up 2 per cent stake in Mahindra & Mahindra’s step down subsidiary, Mahindra Holidays and Resorts India, through a pre-IPO placement valued at Rs 800 crore. ...
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Needful things
Aditya Birla Nuvo needs funds to meet investments/capital expenditure. The Board , subject to necessary approval, has approved the proposal for raising over Rs 4,000 crore in next 18 months through preferential offer to ...
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OVERSEAS BORROWINGS
UTV seeks FIPB nod for raising funds
New Delhi, Jan. 12 UTV Software Communications has sought FIPB approval for issue of up to 20 per cent of its equity share capital to non-residents by way of FCCBs, ADRs, GDRs or by undertaking a Qualified Institutional Placement (QIP), for an ...
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NEW BUSINESS
Orders galore
Engineering and construction giant, Larsen and Toubro, has bagged orders worth Rs 4,800 crore entailing construction of IT parks, hotels, malls and works relating to Cairn’s Rajasthan project. ...
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NEW PROJECTS
Dropping anchor
Bharati Shipyard plans to construct a green field modern shipyard at Usgaon near the Dabhol port in Ratnagiri district. The yard would have the capacity to build vessels up to 100,000 DWT (dead weight tonnes) and will be fully operational in ...
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OVERSEAS INVESTMENTS
Taj signs management contract for UAE project
Mumbai, Jan. 12 Taj Hotels, Resorts and Palaces, a part of the Tata Group, has signed a management contract with Saraya Islands, an upcoming mixed-use resort destination in the Emirate of Ras Al Khaimah, United Arab Emirates. The group ...
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Essar buys 49% stake in Econet Wireless
Mumbai, Jan. 12 Essar Communications Holdings Ltd (ECHL), the telecom subsidiary of Essar Global Ltd, has announced the acquisition of 49 per cent stake in South Africa-based Econet Wireless International Ltd (EWI) by subscribing to fresh ...
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ALLIANCES & JOINT VENTURES
Status quo remains on Orient issue
Indian Hotels Company said that it has still not received an apology from the US-based Orient-Express Hotels Trains & Cruises. The Managing Director and Chief Executive Officer, Mr Raymond Bickson, told newspersons on the sidelines ...
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RIGHTS ISSUE
Rights issue mop-up hits new high at Rs 14,000 cr in 2007
Four-fold rise but number of companies lower compared to 2006
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OUTLOOK
TVS expects higher sales next fiscal
New Delhi, Jan. 12 Led by new launches and increase in exports, TVS Motor on Saturday said that despite the industry estimated to remain stagnant in the next fiscal, the company expected sales to increase to 1.7 million units, up from its ...
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Birla White to expand speciality products basket
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