Corporate Announcement

A country-wide strike call in protest against the new Road Transport and Safety Bill 2014 may hit bus, auto and goods traffic on April 30.

The department of telecommunications (DoT) will hold a meeting of all telecom service providers this month to sort out issues related to spectrum auction and mobile call rates.

The government has approached at least eight lenders, including Rural Electrification Corp. Ltd (REC), to raise low-cost and long-term funds to help finance India's plan to quadruple its renewable energy production.

The government plans to introduce a time-of-day power tariff structure for residential customers, where peak-hour prices will be costlier than nonpeak rates, after getting data on supply and consumption of electricity, coal, petroleum and renewable energy.

The Coal Ministry has approached the Delhi High Court to initiate suomoto contempt proceedings against Naveen Jindal and another employee of Jindal Steel and Power Ltd for unauthorised video recording of court proceedings.

The government was planning to refer the bids placed by Jindal Power, Adani Power and GMR for Gare Palma-IV/2&3 blocks in the recently concluded coal block auction to the Competition Commission of India (CCI). 

Oil and Natural Gas Corporation (ONGC) has for the first time in seven years reported an annual increase in oil production from its western offshore fields.

In accordance with the Centre's public-private partnership (PPP) model, Coal India (CIL) is finally preparing to float an Expression of Interest (EoI) in a couple of months to award long-term mining contracts to private companies, to boost production.

In a deal that is likely to be announced early this week, private equity (PE) firms Advent International Corp. and Temasek Holdings Pvt. Ltd will acquire around 35% of Crompton Greaves' consumer products business from Gautam Thapar-promoted Avantha Holdings Ltd.

Online education company Educomp Solutions Ltd is changing its business model to increase revenue and intends to sell all of its non-core business to cut debt.

Maruti Suzuki aims to again outpace the local market in the ne financial year with double-digit sales growth with the company internally setting a target of growing 10-11% by selling 1.29 million to 1.30 million vehicles

Infosys plans to put in place a new incentive structure to reward its sales superstars in a bid to retain key personnel amid a scramble to win large outsourcing deals and regain industry-level growth rates.

IDFC has received shareholders' approval to its demerger scheme to set up a wholly-owned subsidiary IDFC Bank.

Sesa Sterlite has reported a decline in production of oil and gas, zinc and iron ore for the financial year 2014-15.

Housing Development Finance Corp. Ltd (HDFC), India's largest mortgage lender has reduced its retail prime lending rate by 20 basis points (bps) to 9.90%.

The Supreme Court has issued notices to Reliance Industries and BG Group after the Central government alleged that the arbitrator appointed by the companies in a dispute in the PannaMukta fields is biased and sought his removal from the tribunal also Reliance Industries has expanded its petrochemicals capacity by commissioning its purified terephthalic acid (PTA) and polyethylene terephthalate (PET) resin plants at Dahej in Gujarat.

Zomato Media has raised $50 million (Rs. 311 Cr) from existing investors in a round of funding led by Info Edge which has invested Rs. 155 Cr.

IndusInd Bank will acquire Royal Bank of Scotland's Rs. 4,500 Cr diamond and jewellery financing business and related deposit portfolio in India

Apollo Global Management sold 3% stake or 32 million shares in Dish TV, at an average price of Rs. 82.05 for Rs. 263 Cr as against their original purchase price of Rs. 39.8 a share.

 

Blue Star will increase its investment in research and new product development, as it eyes a 25 percent growth in the room air-conditioner segment during the current fiscal.

 

Aurobindo Pharma has divested stake in its Australian subsidiary to Eris Pharma for an

undisclosed amount to focus on the US, European and emerging markets.

 

L&T inks MoU with nuclear equipment major AREVA to max localization for AREVA's EPR nuclear power plant.

 

Arvind Brands will open 25 Calvin Klein standalone in nerwear outlets in three years.

 

SBI has cut the interest rate for new home loans by another 10 bps, to 9.9 per cent.