Corporate Announcement

Infosys bags multi-year contract from UK-based retail company House Of Fraser.

 

Apax Partners has emerged as a front runner to pick up a significant 20% minority stake in Shriram City Union Finance.

 

Reliance Communications (RCom) conducted its first international bond issue in which the company raised $300 million through Regulation S (Reg S) bonds for capital expenditure or any other permissible end-use as prescribed by the Reserve Bank of India.

 

Puravankara Group has bought a 31-acre property on the outskirts of Chennai for Rs. 110 crore with private equity support for residential development under its Provident brand.

 

Government says received complaints against Petronet LNG alleged irregularities in LNG contract execution.

 

Godrej Industries board to consider capitalization of subsidiary GIL Vikhroli.

 

Muthoot Finance ties up with Wiki Tech Inc to open a US-India payment corridor

 

Amtek Auto acquires iron casting, forging & machinery business of Japan-based company Asahi Tec.

 

Bajaj Finance seeks shareholders' nod to issue securities up to Rs 1,400 crore via QIP.

 

Calcutta High Court approves merger of Mount Everest Mineral Water with Tata Global Beverages.

 

Indian Oil Corporation says have started process of commissioning 15 MMTPA Paradip refinery.

 

RBI says FII investment limit in Kaveri Seed reaches trigger limit.

 

Shree Cement says acquisition of Jaiprakash Associates' Panipat cement unit consummated on April 27.

 

IVRCL allots 2.4 crore equity shares at Rs 24.39/share to CDR lenders.

 

Power Grid acquires Gadarwara (A) Transco & Gadarwara (B) Transmission. 

The government has acceded to the Congress-led opposition's demand in Parliament to defer a discussion on the goods and services tax (GST) constitutional amendment bill till after the passage of the finance bill in the Lok Sabha.

The Union power ministry has issued a draft tender document for selection of bidder for providing the power system development fund (PSDF)'s support to eligible gas-based plants.

The government has raised the limit of foreign direct investment (FDI) in the pension sector to 49 per cent in line with the FDI cap in the insurance sector.

Imports of Chinese tyres into India have surged over several months after the US imposed an anti-dumping duty on them. A basic customs duty of 10 per cent has led to cheaper Chinese tyres flooding the Indian market.

Andhra Bank is looking at raising about Rs.30 bn in Tier 1 and Tier 2 capital through issue of bonds in the current financial year. 

Ramco Systems has said that it has bagged an order from North America-based Hutchinson Aerospace and Industry Inc to implement its maintenance, repair and over haul (MRO) solutions and services.

Petronet LNG Ltd is under investigation for alleged irregularities in gas purchase contracts, the government said. The complaints referred to Petronet's LNG contracts to import 7.5 million metric tonnes per annum (mmtpa) from Qatar's RasGas Co. Ltd and 1.44 mmtpa from ExxonMobil Corp.'s Gorgon project in Australia, according to a government statement.

French IT services company Cap Gemini SA is acquiring Nasdaq-listed iGate Corp. for $4.04 billion in cash in an attempt to strengthen its presence in the Indian and North American market and across client sectors such as retail, healthcare and engineering.