Corporate Snippets

Corporate Snippets

L&T has received an order worth Rs10.6bn from Gujarat State Petroleum Corporation to build an offshore oil platform. (FE)

IFC, the private financing arm of the World Bank, has proposed to pick up a 9.92% stake in Cholamandalam DBS Finance for a consideration of Rs1bn. (ET)

Opto Circuits has announced the acquisition of Kolkata-based NS Remedies for US$1.5mn in an all-cash deal. (ET)

Oil India has more than US$2.5bn cash available for acquisitions as it seeks producing assets overseas to help boost the country’s energy security. (BS)

Religare Securities has hiked its stake in multiplex chain operator Fame India to 5.82%. (FE)

ONGC has received 10,722 emission reduction certificates from the United Nations for a waste heat recovery project at its Mumbai High fields. (ET