Tata Power is trading up by (3.44%) at Rs1142 as the company is looking at expanding its reach by building power plants in Southeast Asia. It is also eyeing mines in Indonesia despite high coal prices and increasing cost of acquisitions.
Gitanjali Gems has acquired Trinity Watch Company through its wholly owned subsidiary Gitanjali Lifestyle.
Anil Ambani group's financial services arm Reliance Capital is set for a change of guard at the top with Sam Ghosh, who has led ramping up of German insurer Allianz's Indian insurance ventures, about to replace Amitabh Chaturvedi as the new CEO.
The total number of M&A deals announced in the month of February this year stood at 36 with a total announced value of 2.95 billion dollar and the most significant deal was the merger of two financial entities HDFC Bank and CBoP, global consultancy firm Grant Thornton said.
ACC has sold its wholly-owned-subsidiary ACC Machinery Company (AMCL) to HNG group for a consideration of Rs 45 crore.According to a release issued by ACC to the BSE today, AMCL's net profit for the year ended December 31, 2007, stood at Rs 9.75 crore, and total income was Rs 63.24 crore.Further, the release added that AMCL had paid dividend at Rs 190 per share aggregating to Rs 7.60 crore.
Oil prices were steady above $107 a barrel after rising to a record in the previous session as the U.S. dollar weakened further.
Foreign department employees of State Bank of India (Q, N,C,F)* have gone on an indefinite hunger strike from Monday (March 10) against the management`s decision to shift the entire Kolkata back-office operation to Mumbai in phases, reports Financial Express. ``This is the first time in the history of the banking industry that bank employees have resorted to hunger strike,`` SBI staff association zonal secretary Asok Mukherjee said.
IN A first-of-its kind move, drug price regulator National Pharma- ceutical Pricing Authority(NPPA) on Monday asked pharmaceutical companies to pass on the benefit of the recent excise cut to consu- mers even on medicines outside government's price control. This will reduce prices by 4.58% on brands that account for three-fourth of the Rs 33,000-crore domestic pharma market.
Larsen & Toubro Ltd (L&T) has announced that the Electrical & Electronics Division (EBG) of L&T has been awarded the contract for SCADA system for Onshore Control Centres (OCC) for offshore operations by Oil and Natural Gas Corporation (ONGC). The contract is worth Rs 74.7 crore. L&T has been awarded this project by outbidding international competitors.
Goldstone Infratech Ltd has announced that it was foraying into the renewal energy space by setting up a 5 MW solar power plant and a production facility to manufacture photo voltaic modules for solar power generation.
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