Corporate Announcement

The Cabinet is set to discuss this week a Bill to exempt the factories that employ up to 40 workers from 14 labour laws.

On the lines of Jan Dhan mega rollout, Government will launch social security insurance and pension schemes for the underprivileged citizens of the country.

Andhra Pradesh government has decided to implement a comprehensive action plan to maked the state a renewable energy hub in the next four years.

The government and the oil and gas industry have come together in a major initiative led by the Prime Minister's Office to create an investment friendly climate and a level playing field in the exploration sector that is mired in disputes and stagnating output.

With the debate on net neutrality intensifying, Competition Commission of India (CCI) will look at analysis of multisided high-technology markets involving network industry and more complex markets requiring greater understanding of economic theories, anti-trust analysis and theories of harm.

The Fertiliser Ministry has moved a Cabinet note on formulating a new urea policy that aims at higher domestic production of the soil nutrient and balanced use of fertilisers.

The Ministry of finance has cut export duty on iron ore for 58% Fe grade and below from 30% to 10%.

Retail chain V-Mart will invest around Rs. 2 bn to add nearly 200 new stores in different part of the country in the next five years. 

Aditya Birla Group (ABG) has consolidated its fashion retail business under the listed entity, Pantaloons Fashion and Retail Post, which has been rechristened as Aditya Birla Fashion and Retail.

Marico is prototyping lower pack sizes at 500 ml for its premium edible oil brand Saffola to drive volumes in the urban markets.

ONGC wants to leverage on the low crude oil prices and go for overseas corporate acquisitions to strengthen its global presence. 

The Adani Group and Gujarat State Petroleum Corporation (GSPC) are looking at various equity options for their Rs 46 bn , five-milliontonne-pe-annum (mtpa) liquefied natural gas (LNG) terminal at the Mundra special economic zone in Gujarat.

NTPC Ltd has agreed to form a joint venture with the Jharkhand government to revive the Patratu thermal power station and expand its capacity from 700MW to 4,000MW. 

TCS to create job growth for the company's higher management and prevent loss of talent.

Nestle India is planning to appeal against a Madras High Court interim order over its product, 'Maggi Magical Masala', in a case filed by ITC.

Facing a multi-agency scrutiny, Diageo-owned United Spirits may have to restate its financial accounts, even as some investor groups have begun to question the UK-based parent's long silence on allegations against the erstwhile main promoters.

An expansion of discoveries in the KG-D5 block, higher volume considerations & an expected delay in the development of Cluster 1 discoveries, all these have prompted ONGC to shun an earlier plan to use RIL’s infrastructure in the adjoining KG-D6 block off the coast of AP.

 

Bajaj Finance, Shriram Transport Finance, HDFC, Shriram City Union and LIC Housing Finance have reduced corporate deposit rates by 5-40 basis points.

 

Suzlon has concluded the sale of its German subsidiary Senvion to US private equity firm Centrebridge for Euro 1 billion (about Rs. 7,000 Cr). 

JK Lakshmi Cement has tied up with Snapdeal to offer its entire product range online

 

Apollo Hospitals is planning to add 1,000 beds per year in the next five years across the country and overseas as part of its expansion plans.

 

Fortis Healthcare has agreed to sell its entire stake in Singapore-based healthcare services unit RadLink-Asia Pte Ltd and subsidiaries for about Rs. 530 Cr to Fullerton Healthcare Group.

 

Jaguar Land Rover Ltd, owned by Tata Motors will recall 9,909 Discovery 4 SUVs in China for improperly installed anti-lock braking software that could increase the risk of a collision 

Godrej Properties is looking to launch 14 new projects during the current FY ending March 2016.

 

Godrej Consumer Products has entered the premium hair care category with B:blunt.