CORPORATE
ANNOUNCEMENTS
SAIL to hold prices
New Delhi, April 17 SAIL has decided not to increase prices for the moment. Also, faced with the possibility of a cut in excise duty, the private sector steel makers who had announced imposition of a raw material surcharge of Rs 5,000 a tonne ...
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PRIVATE PLACEMENT
Electrotherm to raise funds
Electrotherm India Ltd has informed that the members at the EGM on March 28 have given authority to the board to raise funds in the form of QIP and to offer, issue and allot from time to time, in one or more tranches, equity shares or any ...
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DERIVATIVES MARKETS
‘Cos willing to settle currency derivative cases out of court’
Mumbai, April 17 Some corporates who filed cases against banks after they suffered losses on currency derivative deals, are willing to settle out of court, as court may take a long time to settle these cases, said Ms Chanda Kochhar, Joint ...
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RESTRUCTURING
KLG Systel sells unit to arm
KLG Systel Ltd has informed that the board of directors has resolved to transfer the Power Systems Solution (PSS) division to KLG Power Ltd, a subsidiary in which the company holds 99 per cent of the share capital, as a going concern by way of a ...
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MERGERS & ACQUISITIONS
Thomson Corpn completes Reuters Group acquisition
‘No lay offs at Reuters’
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3i Infotech raises Rs 500-cr debt to fund domestic buys
Mumbai, April 17 City-based IT solutions firm 3i Infotech has raised around Rs 500 crore in debt over the last three-four years, in order to fund its domestic inorganic growth and working-capital requirements. This debt has been raised ...
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Siro Clinpharm buys German clinical research firm
Mumbai, April 17 Clinical research organisation Siro Clinpharm Pvt Ltd has acquired 100 per cent equity in Germany-based Omega Mediation Group in an all-cash deal, but for an undisclosed sum.The acquisition marks Siro Clinpharm’s ...
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NEW PROJECTS
PowerGrid full-year net profit rises 15.5%
To spend Rs 8,040 cr to fund ongoing, new projects
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Carlson launches its fourth resort in India
42 hotels planned in the next 3 years
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OVERSEAS INVESTMENTS
GMR Energy buys 5% stake in SA co
GMR Infrastructure Ltd has informed that GMR Energy Ltd (GEL), the company’s 100 per cent subsidiary, has acquired 5 per cent stake in Homeland Mining and Energy SA (Pty) Ltd, South Africa, subsidiary of Homeland Energy Group Ltd, Toronto, ...
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ALLIANCES & JOINT VENTURES
‘Public-private partnership needs to be long-term to succeed’
Need for Govt to take adequate care at the negotiation stage
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Dow Europe forms venture with Gujarat Alkalies
To set up a chloromethanes plant at Rs 600-crore investment
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Saffron Group funds to pick up stake in Parsvnath’s Mumbai project
New Delhi, April 17 Real estate company Parsvnath Developers Ltd (PDL) on Thursday said that two Saffron Group managed funds — Yatra Capital Ltd and Saffron India Real Estate Fund I (SIREF I) — would pick up 15 per cent stake each ...
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Burson-Marsteller forms South Asia network
Mumbai, April 17 Global public relations and communication firm Burson-Marsteller on Thursday announced the formation of a Burson-Marsteller South Asia Network (BMSAN), with the signing of strategic alliances with independent public relations ...
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SAIL, Steel Complex MoU to be signed next month
The State-owned Steel Complex Ltd (SCL) is set to sign a memorandum of understanding with Steel Authority of India Ltd (SAIL) in the first week of May to form a joint venture company. The State Cabinet had last month cleared the MoU, ...
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DIVERSIFICATION
Religare into commercial vehicles financing
Ties up with Kumar Motors
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