Reliance Infrastructure To raise Funds In Phases : Reliance Infrastructure, part of the Reliance-Anil Dhirubhai Ambani Group, needs about Rs4,000 crore in the first phase to pull off a large part of the project, which will be executed at a cumulative cost of Rs8,000 crore in the next three-five years.
Hindujas eyeing acquisition in Europe: The London-based Hindujas are eyeing takeover of technology firms and foundries in Europe and South America and plan to invest Rs.37 billion ($800 million) to make their automotive and foundry businesses a Rs.300 billion ($6.5 billion) enterprise.
Raghavendra rao Ups His Stake In Orchid Chemicals :Orchid Chemicals and Pharmaceuticals promoter K Raghavendra Rao has scaled up his stake in the company by nearly 6% to 23% through conversion of warrants into equity shares. Mr Rao has converted 50 lakh warrants into equal number of equity shares for Rs 90 crore. The conversion price was Rs 202 a share. The Orchid stock closed at Rs 212.05 on the Bombay Stock Exchange on Friday
BSNL facing integration problems: State-owned BSNL is understood to have opposed merging loss making ITI with itself amidst stiff opposition from the employees unions, a move that may not go well within the government as the proposal was mooted by none other than Congress Pres ident Ms Sonia Gandhi.
Hong Kong’s Bejlino International To Come To India :Hong Kong-based sanitary brand, Beljino International, would up a manufacturing plant in Kerala, with an investment of $400,000. The work of the plant, a joint venture with Apex Marketing, the only distributor of Beljino products in India, is likely to begin next year, Wen Hen Fie, Chairman of Beljino International said.
Reliance Infrastructure Pitching For Power Distribution Contracts : Anil Ambani’s Reliance Infrastructure (R-Infra) is pitching for power distribution contracts with private sector real estate developers. This is a significant shift in the strategy for the company, which is so far only working on distribution contracts from state governments.
IOC-OIL Scouts For Opportunities In African Countries : Ind-Oil Overseas Ltd, the Mauritius-based special entity jointly floated by Indian Oil Corporation (IOC) and Oil India Ltd (OIL) for acquiring oil and gas acreages overseas, may look at prospects in CIS and African countries.Oil India has appointed global consultant and advisory firm Deloitte to work out the suitable fiscal mechanism for the target countries.