CORPORATE
ANNOUNCEMENTS
Power Grid pulls out of race for Philippines grid
New Delhi, Dec. 12 Power Grid Corporation India Ltd (PGCIL) pulled out of the race for operating the Philippine national power grid and did not place a bid for taking over the State-owned transmission venture. The mandate was bagged by ...
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Turner steps into India’s TV entertainment space
In pact with Alva Brothers to launch a Hindi channel
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OVERSEAS BORROWINGS
Gitanjali Gems GDR priced at $9.67
Diamond and jewellery manufacturing major Gitanjali Gems has priced its Global Depository Receipts (GDR) at $9.67 (Rs 380) per receipt. The GDR offering was for a total sum of $180 million or approximately Rs 720 crore (including an ...
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NEW BUSINESS
Punj Lloyd bags Rs 590-cr IOC order
New Delhi, Dec. 12 Punj Lloyd Ltd has bagged a Rs 590-crore contract for building facilities associated with Indian Oil Corporation’s Residue Upgradation project at its Vadodara Refinery in Gujarat. The turnkey contract entails ...
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RESTRUCTURING
Parsvnath sets up arm for AMC, asset holding biz
New Delhi, Dec 12 The Delhi-based real estate company, Parsvnath Developers Ltd on Wednesday said it has incorporated a subsidiary ‘PDL Assets Ltd’ to carry on asset management and asset holding activities.When contacted, Mr ...
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MERGERS & ACQUISITIONS
IMPACT
Stake sale in Reliance Cap arm seen positive
Valuations of cos with MF arm may go up
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SAIL plans to take over ailing Steel Complex
New Delhi, Dec. 12 State-owned steel major Steel Authority of India Ltd (SAIL) is looking at taking over the ailing Steel Complex Ltd (SCL), which is owned by the Kerala Government.“Officials from the Kerala Government met the ...
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TV18-Infomedia deal: Co unlikely to revise offer price
Will help it to leverage content across medium
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NEW PROJECTS
Cummins opens second factory in Pithampur
Pune, Dec 12 Cummins Turbo Technologies, maker of turbochargers for the medium heavy duty diesel engine market, has broken the ground for a new facility at the Pithampur Special Economic Zone in Madhya Pradesh. Turbo Technologies is ...
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OVERSEAS INVESTMENTS
Tata Steel to develop iron ore deposits in Ivory Coast
Forms jt venture with state-owned co in Ivory Coast
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ONGC Videsh hopes to pick up stake in Iran’s Yadavaran field
China’s Sinopec signs deal for development of field
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ALLIANCES & JOINT VENTURES
Rajathi ties up with Merlin Group
Residential townships, commercial projects
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Vitage Tech ties up with TTK
TTK Healthcare Services Pvt Ltd has entrusted its Information Technology operations to Vitage Technologies, a business service management company. Under an agreement signed by the two companies, Vitage will act as managed services partner for TTK ...
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SpiceJet plans joint venture with UK-based online retailer
To foray into merchandising on board by early next year
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Hero Motors forms jt venture with Kiriu Corp of Japan
New Delhi, Dec. 12 Hero Motors Ltd, part of the Hero Group, on Wednesday entered into a joint venture with Kiriu Corporation, Japan.The joint venture company, Munjal Kiriu Industries Pvt Ltd (MKIPL), would manufacture brake discs, drums and ...
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KEL signs pact with Saudi co
Thiruvananthapuram, Dec. 12 The State-owned Kerala Electrical and Allied Engineering Company (KEL) has signed a memorandum of understanding with Saudi Engineering Group International (SEGI) of Saudi Arabia for manufacture of transformers and ...
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SICK UNITS
HC ruling on sick company’s plea against liquidator’s appointment
Chennai, Dec. 12 A sick company facing winding up proceedings had no legal ground to question appointment of the provisional liquidator, the Madras High Court has held. The company should move first the said Court to set aside the appointment ...
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OUTLOOK
Carrera to assemble Vinci looms from Coimbatore
First prototype likely by December next year
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TCC to bring salt by barges
Captive power project among cost-cutting measures
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Tata AutoComp hiking production
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