Corporate Snippets

M&M named lead bidder for SsangYong. (ET)

Maruti to launch automatic transmission variant A-Star. (ET)

RBI approves merger of BOR with ICICI with effect from August 13, 2010. (ET)

Parliament approved a bill for the government to reduce its holding in SBI to 51% and help it raise capital. (ET)

The SBI top management has signalled that a hike in the prime lending rate (PLR) was round the corner. (BL)

ONGC proposes to invest Rs6.5bn to set up a wind power project in Rajasthan. (ET)
Vedanta in talks to buy into Cairn India to fuel new business. (ET)

BHEL to invest over Rs5bn to set up 2 manufacturing units. (ET)

NMDC is looking at partnering with Japan-based Kobe Steel for acquiring stake in an iron ore project in Australia. (ET)
Tata Steel raised US$350mn in debt for working capital. (ET)