Friday, March 11, 2011

Corporate Snippets

±  Etisalat, Idea get notices from DoT on license cancellation. (BS)
±  Tata Steel raw material cost may go up by US$1bn. (ET)
±  Hero Honda to get new name and logo following the exit of Japanese JV partner, Honda Motors. (ET)        
±  Sesa Goa edges out JSW Steel in battle for Bellary Steel’s assets. (ET)
±  Nestle to invest Rs15bn over 2-3 years. (ET)
±  Tata Teleservices in planning to go for rights issue to repay debt. (ET) 
±  Adani Group is considering its second major acquisition in Australia to meet increasing coal demand. (ET)
±  Reliance Infra is close to achieving financial closure for its road projects portfolio (ET)
±  Tech Mahindra opens new development centre in Germany. (BL)
±  Canara Bank raises Rs20bn through QIP issue. (BS)
±  Reliance Broadcast is going for a 50:50 JV with RTL Group to launch series of television channels in India. (ET)
±  Essar Group has bought 54% stake in Zimbabwe’s state-owned steel maker Zisco for US$750mn. (ET)    

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