Corporate Snippets

SAIL ties up with Switzerland-based CBMM Technology Suisse for research and development of high-end steel items used in the transportation of oil and natural gas. (BS)

NTPC to add ~6,550MW in four southern states by 2017 by investing ~Rs33bn. (BS)

Government is likely to issue bonds to avail of its share of SBI right issue. (ET)

M&M plans to expand its tractor production capacity to over three lakh units in two years.(BL)

HDIL to launch residential projects s[read over 27mn sq. ft. in the next six months. (ET)
 
GMR Infra is likely to sell its 50% stake in InterGen to China Huaneng for close to US$1.5bn. (ET)

Sun Pharma has acquired a further 12% stake, to reach 65%, in Taro Pharmaceuticals,for $82mn (Rs3.6bn). Sun paid $16 per share, ~14% premium to Taro's current market price of $13.75. (BS)
 
Kalanithi Maran and his firm, KAL Airways,have raised their direct holding in low-cost air carrier SpiceJet to 38.66% by purchasing an additional 7.68% stake for Rs1,469mn. (BS)

Parsvnath Developers has bagged 38-acre railway land in a key area of the capital for Rs16.5bn. (ET)