Company News

  • Reliance Industries is to invest Rs. 5000 cr in the next three years for the expansion of its petroleum outlets in West Bengal.
  • Larsen & Toubro Infotech announced successful deployment of end-to-end Power Portfolio Management Solution for the Indian power utility firm – Madhya Pradesh Power Management Company Limited.
  • Sun Pharma announced that its wholly owned subsidiaries have reached an agreement with Ironwood Pharmaceuticals, Inc. and Allergan plc to resolve the patent litigation.
  • GAIL has renegotiated the terms of a long-term Liquefied Natural Gas (LNG) purchase deal with Russia’s Gazprom PJSC, in third such negotiation by India to make the imported fuel affordable to its price-sensitive customers.

  • Result to be declaed today: HUL, Adani Power, DCB Bank, Mindtree.

  • Reliance Industries is in talks to buy out Jai Corp’s 24.00% stake in Navi Mumbai Special Economic Zone (NMSEZ).
  • Maruti Suzuki India and Honda Cars India have hiked prices of their vehicles across models by up to Rs. 32,000 to partially offset rise in input costs.
  • After a gap of over three-decade, state-owned ONGC is set to open a new sedimentary basin in the country as it puts Kutch offshore on the oil and gas map of India.
  • Tata Chemicals has received approval from majority shareholders for sale of its Haldia fertiliser unit in West Bengal to Netherlands-based Indorama Holdings BV for Rs. 375 crore.
  • Larsen and Toubro (L&T) touched 52-week high of Rs. 1330.10, rising more than 1.00% in the early trade on Monday as it has won orders worth Rs. 2265 crore.
  • Jindal Steel & Power touched 52-week high of Rs. 270.30, surging 13.00% intraday Monday as company planning to raise Rs. 1000 crore.
  • HCC gains 5% on Rs. 484 cr order win for Pune metro rail project.
  • Idea Cellular is to raise Rs. 3250 crore from promoter group.
  • ONGC have to pay a premium to acquire Centre’s 51.10% stake in oil marketing company HPCL under the proposed deal.
  • L&T’s construction arm wins Rs. 1450 cr contracts including one in Egypt.
  • Tata Motors appoints Hanne Sorensen as independent director.
  • HDFC-ADIA JV is to invest $ 500 million in affordable housing.
  • Tata Motors’ total Jaguar US sales down 20.50% at 3414 units versus 4294 units.
  • SBI cuts its base rate and prime lending rates for existing customers by 30 basis points each, effective from 1st January.
  • Reliance Industries has successfully commissioned and achieved design throughput of the world’s first ever and largest Refinery Off-Gas Cracker (ROGC) complex of 1.50 MMTPA capacity along with downstream plants and utilities.
  • Maruti Suzuki India sold a total of 130,066 units in December 2017, growing 10.30% over the same period of last fiscal.

  • Coal India is set to prioritise on improving supplies to captive power producers to cater to the needs of cement, aluminium and sponge-iron sectors.

  • Infosys has divested its minority stake from ANSR Consulting Holdings for $1 million.

  • L&T Hydrocarbon Engineering has secured a major EPC contract for Crude Distillation and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation, Visakhapatnam Refinery, and an extension to an ongoing contract for Reliance Industries Jamnagar, both adding to approximately Rs. 2100 cr.

  • IndusInd bank has concluded $ 500 million Syndicated Term Loan Facility from a group of overseas lenders. The tenor of the facility is 3 years and will be used for general banking purposes.

  • RCOM shares surged as much as 35.00% in early trade today after the company signed an agreement to sell its wireless assets to Mukesh Ambani-led Reliance Jio Infocomm.
  • Tata Global Beverages has touched 52 week high of Rs. 313 as the compnay sold its stake in joint venture firm Estate Management Services Private Limited (EMSPL) for a consideration of Rs. 120 crore.
  • L&T has won a Rs. 1000 cr contract to maintain 5 million smart meters in Uttar Pradesh and Bihar over the next 8 years.

  • L&T Construction gets orders valued at Rs. 3355 cr.
  • Bank of Baroda will fully acquire its mutual fund and trustee business and buy the entire 51.00% stake held by the joint-venture partner UniCredit.
  • Vodafone India to launch VoLTE services in January 2018.
  • Reliance Communications is to reduce its debt by about Rs. 25000 cr through the sale of some of its spectrum, tower and real estate assets.
  • Indian companies are estimated to have mopped up a whopping Rs. 8.50 lakh crore from capital markets in 2017.
  • PSBs’ NPA hits Rs 7.34 lakh crore at September-end.
  • BHEL bags Rs. 672 crore order for electrics for 25 kV Mainline EMU Trains.
  • Tata Power gained over 3.00% on the back of an order win by its arm in Russia. Tata Power’s Russian subsidiary Far Eastern Natural Resources LLC has bagged the mining licence for a thermal coal mine in Kamchatka province in far east Russia.
  • Suzlon is to sell its stake in Shanay and Saroja to Skeiron renewable energy for Rs. 280 crore.
  • LIC has increased its stake in public sector lender Punjab National Bank to 13.93% through qualified institutional placement.
  • Reliance Industries plans to be among top 20 companies in the world.
  • ABB India wins Rs. 134 cr order from Chittaranjan Locomotive.
  • Reliance Infrastructure announces the sale of its Mumbai distribution business for a deal value Rs. 13251 cr to Adani Transmission.
  • HDFC sells HDFC Realty and its digital real estate business HDFC Developers to Quikr.
  • TCS has bagged the largest-ever outsourcing contract by an Indian IT company, sealing $ 2.25 billion deal with television ratings measurement firm Nielsen.
  • Bharti Airtel’s board approves an arrangement for takeover of consumer mobile business of Tata Teleservices.
  • Coal India board approves long term linkage under SHAKTI auction for 9000 MW.
  • Ola acquires Food Panda in India; to invest $200mn into food delivery business.
  • Trade regulator CCI has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion.

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