Corporate Announcement

The government is considering starting its plan to build a 100,000-Mw solar energy capacity by 2022 through award of 10,000-Mw projects in the coming three months.

The present government has decided to put on hold the previous one's ambitious plan of developing low-cost airports in non-metro cities. However, of the 50 centres identified by the United Progressive Alliance (UPA) government in 2013.

Concerned over increasing bad loans and the stressed projects of public sector banks, the finance ministry will hold a meeting with heads of all PSBs to review some of the major projects in the infrastructure sector.

In a major step towards bringing greater regulatory clarity for M&A deals, Sebi plans to put in place new guidelines to define 'bright lines' identifying the change of control in such transactions.

Tata Consultancy Services is testing the use of robots to fast-track the software development process and automate some support functions.

State-owned power company NTPC Ltd has initiated a new vendor enlistment drive for its power plants in an effort to expand the vendor base.

To make its numbers more authentic and root out corruption, Coal India is now planning a technological intervention with use of drones to assess production. 

The Securities and Exchange Board of India (Sebi) has moved the Supreme Court, challenging a tribunal order in the matter of disclosure norm violations by real estate major DLF.

Buoyed by diesel price decontrol, Reliance Industries will reopen all its 1,400 petrol pumps this fiscal.

Temasek Holdings (Pvt) Ltd, Singapore's state owned investment company, will buy a 3.83% stake in Glenmark Pharma for Rs 9.5 bn in one of the largest private equity deals in a listed Indian pharma company this year

The shipping Ministry has given permission to Shipping Corporation, JNPT and Mumbai Port Trust can raise dollar- equivalent of Rs 1 trillion from overseas markets.

Jet Airways, which plans to enhance its services on the US routes, may ask its strategic investment partner Etihad to return two of its Boeing-777 planes which are currently on lease with the Gulf-based carrier.

Oil and Natural Gas Corportation has agreed to take over a part of the abandoned assets of the western offshore Tapti gas field from its joint venture partners Reliance Industries and BG once output falls to zero.

Falling energy prices that discourage expanding production have forced Reliance Industries Ltd (RIL) to cut capital expenditure in its US shale energy ventures.

Tata Teleservices has decided to drop the brand DoCoMo from its telecom brand Tata Docomo months before its agreement with Japanese mobile phone operator NTT DoCoMo to use the brand ends.

Natco Pharma receives US FDA nod for Alprazolam (it is used to treat anxiety & panic disorders).

 

Clariant Chemicals board to consider buy-back proposal on April 22nd 2015.

 

NHPC gets in-principle nod from environment ministry for diversion of forest land in Arunachal Pradesh

 

Zee Media to allot of 10.86 crore shares at Rs.18/share on rights basis.

 

NMDC slashed iron ore prices by up to 20 per cent for the remaining days of the current month. The company has reduced the prices by Rs.200 per tonne to Rs.3,050 for lumps or higher grade iron ore and by Rs.500 per tonne to Rs.1,960 a tonne for fines, the company said in a regulatory filing

Piramal Enterprises Ltd has agreed to acquire a majority stake in Health SuperHiway Pvt Ltd, a healthcare analytics company owned by the Apollo Hospitals’ promoter family. The transaction, to be done in two tranches of investment, strengthens PEL’s footprint in the global healthcare information business.

 

Oil India has commissioned a 54 MW wind energy project in Gujarat and Madhya Pradesh.

 

Glenmark Pharma to raise Rs.945 crore via share sale to Aranda Investments and to issue 1.08 lakh shares to Aranda on preferential basis at Rs.875/share.