Corporate Snippets

NTPC may soon get to allocate up to 50% of the output from its new plants to the home state, allowing it to compete with private developers. (ET)

Glenmark Pharmaceuticals has entered into an out of court settlement with GlaxoSmithKline over patent actions on doses of atovaquone and proguanil hydrochloride, the generic version of GSK’s Malarone malaria treatment tablets. (ET)

Essar Steel Holdings (ESHL), the parent company of Essar Steel, plans to raise US$500mn this month through sale of foreign bonds. (BS)


HCC has received an order worth Rs6.08bn from Director General Naval Project, Mumbai, for reconstruction and completion of Dry Dock and Associated North and South Wharves at Naval Dockyard, Mumbai. (ET)

Renault is learnt to give M&M the licensing rights to produce the Logan as part of the restructuring proposal for the joint venture. (BL)

GAIL to invest Rs150bn over the next two-three years in expanding its pipeline network to connect consumption centres. (BS)