Monday, January 31, 2011

Corporate Snippets

±  Suzlon Energy receives an order worth US$1.3bn for supply of wind turbines aggregating to 1,000MW to Caparo Energy India. (ET)
±  JK Paper plans to raise Rs2.5bn through a rights issue to part fund its Rs16bn capacity expansion programme. (ET)
±  Cadila Healthcare and Bayer HealthCare have agreed to set up an equal JV - Bayer Zydus Pharma. (ET)
±  NTPC is scouting for new suppliers to speed up pending power projects. (ET)
±  Technical arm of the oil ministry certifies that Vedanta Resources has sufficient technical capabilities to operate the oil and gas blocks held by Cairn India. (ET)
±  Simbhaoli Sugars announced a JV with UK-based ED & F Man Holdings to set up a sugar refinery in Kandla for an investment of Rs2.3bn. (ET)
±  Adani Power has denied that it plans to raise US$500mn in a convertible bonds issue by mid-February for a possible funding of coal mine purchase. (ET)
±  NMDC is re-evaluating its two-year-old agreement with Rio Tinto. (BS)
±  Deepak Fertilisers plans to invest Rs800mn-Rs1bn to set up a plant for the manufacture of customized fertilisers in the next 18-24 months. (BS)
±  ITC plans to invest up to Rs30bn to set up a paper manufacturing unit in Andhra Pradesh. (BS)

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